Net finance expense is 48 M, but I'm bemused to note underlying net interest expense is more like 148 M. [Most of the finance revenue's exceptional, and I'm a little astonished to see over 100
M of interest expense capitalized!
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should
be considered in evaluating our outlook include, but
are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that
was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not
be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher
interest payments should
interest rates increase substantially; 27) the effectiveness
of any
interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges,
expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
«Then, as now, the system
was rudderless, unstable, and insecure — which persuaded countries to protect their own national
interests, even at the
expense of the collective good.»
Management believes analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate overall operating performance and facilitate comparisons with other wireless communications companies because it
is indicative
of T - Mobile's ongoing operating performance and trends by excluding the impact
of interest expense from financing, non-cash depreciation and amortization from capital investments, non-cash stock - based compensation, network decommissioning costs as they
are not indicative
of T - Mobile's ongoing operating performance and certain other nonrecurring income and
expenses.
Gain related to
interest rate swaps The company recognized a pre-tax gain
of $ 14 million in the three months ended March 31, 2018, within
interest and other
expense, net related to certain forward - starting
interest rate swaps for which the planned timing
of the related forecasted debt
was changed.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices,
interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to
be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may
be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which
is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies
being restricted in their operation
of their businesses while the merger agreement
is in effect; (21) risks relating to the value
of the United Technologies» shares to
be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may
be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
The recognition
of a one - time deferred tax asset relating to SES - 16 / GovSat - 1, which entered into service in March 2018,
was the principal reason for the positive income tax contribution
of EUR 10.1 million (Q1 2017: EUR 27.7 million
expense), as well as the increase in non-controlling
interests to EUR 14.8 million (Q1 2017: EUR 0.9 million).
The business use percentage
of expenses are generally deductible for items such as rent, repairs, utilities, mortgage
interest, real estate taxes, insurance, depreciation and any other
expenses.
The
interest or finance charges you incur on borrowing that money
are an
expense and will appear as an
expense and use
of cash.
Some
of the most common itemized tax deductions include, but
are not limited to medical
expenses, charitable contributions, state and local taxes, foreign taxes, mortgage
interest deductions, mortgage points, health insurance if you
are self employed, and losses related to natural disasters.
Some
of us
are interested in building wealth while others
are merely trying to cover
expenses, but whatever the motivation, if we work for a living, we all share one general belief: more money
is better.
It
is certainly possible that the unethical favours at the
expense of of a third party might just
be construed as the cost
of gifts in the eyes
of the giver and the receiver and hence become indistinguishable from other forms
of self -
interest.»
Low
interest rates and depressed capital markets activity
are requiring banks to tightly manage
expenses, and have forced some firms out
of the industry.
As the details
of this plan become known, and as the political response builds from people who fear their taxes will
be raised, and as they build a coalition with special
interests who would lose out from other aspects
of the proposal (like investors who do not like the proposed limitation on the deduction
of business -
interest expenses), this plan will become an enormous liability.
EBITDA
is defined as earnings (net income or loss) before
interest expense, net, (gain) loss on early extinguishment
of debt, income tax (benefit)
expense, and depreciation and amortization and
is used by management to measure operating performance
of the business.
Adjusted Net Income
is defined as net income excluding (i) franchise agreement amortization, which
is a non-cash
expense arising as a result
of acquisition accounting that may hinder the comparability
of our operating results to our industry peers, (ii) amortization
of deferred financing costs and debt issuance discount, a non-cash component
of interest expense, and (gains) losses on early extinguishment
of debt, which
are non-cash charges that vary by the timing, terms and size
of debt financing transactions, (iii)(income) loss from equity method investments, net
of cash distributions received from equity method investments, (iv) other operating
expenses (income), net, and (v) other specifically identified costs associated with non-recurring projects.
And entrepreneurs should
be interested because there
's potential for lower -
interest financing — in amounts up to $ 5 million — that can
be used to meet a wide variety
of operational
expenses.
Annualized GAAP
interest expense based upon $ 348 million in principal currently outstanding and LIBOR plus 175 basis points
is $ 14.5 million and includes $ 3.1 million
of debt issuance cost.
Our debt balance as
of March 31, 2018,
was $ 348 million, down from $ 780 million at loan origination in April 2016; our debt to Adjusted EBITDA ratio
is well below one times; and we have reduced our non-GAAP
interest expense by over 70 % since origination on an annualized basis.»
In addition, during the period from July 1 through December 31, the
interest expense allocated to the investment expenditure
is a debt, the proceeds
of which
are treated as used to make an investment expenditure.
«The greed at the
expense of investors who
are promised unmatched
interest rates remained the only goal
of the defendants despite the [July] decision,» Justice Marc Lesage
of the Quebec Superior Court said, CBC / Radio - Canada reported.
NerdWallet's 2017 household debt study shows that several major spending categories have outpaced income growth over the past decade; many Americans
are putting medical
expenses on credit cards; and the average indebted household
is paying hundreds
of dollars in credit card
interest each year.
The remaining $ 55
of interest expense for the period from July 1 through December 31 ($ 1,000 ×.055)
is allocated to the passive activity expenditure.
Debt
interest costs
are fully tax deductible as a business
expense and in the case
of long term financing, the repayment period can
be extended over many years, reducing the monthly
expense.
It
's also worth remembering though, you don't get the tax deductions unless you
're actually paying the
expenses of mortgage
interest, property taxes, and mortgage insurance.
In addition, we believe it
is useful to exclude
interest income and
expense, other income and
expense, and provision or benefit from income taxes, as these items
are not components
of our core business operations.
Typically, there
are actions you can take (such as putting up more collateral or improving your credit score) to get a better
interest rate and reduce the total
expense of funding your business.
As an added benefit, regulated utilities
are exempt from a provision in the tax law that places a cap on the tax deductibility
of interest expense.
To the fullest extent permitted by applicable law, you agree to indemnify, defend and hold harmless Daily Harvest, and our respective past, present and future employees, officers, directors, contractors, consultants, equityholders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (individually and collectively, the «Daily Harvest Parties»), from and against all actual or alleged Daily Harvest Party or third party claims, damages, awards, judgments, losses, liabilities, obligations, penalties,
interest, fees,
expenses (including, without limitation, attorneys» fees and
expenses) and costs (including, without limitation, court costs, costs
of settlement and costs
of pursuing indemnification and insurance),
of every kind and nature whatsoever, whether known or unknown, foreseen or unforeseen, matured or unmatured, or suspected or unsuspected, in law or equity, whether in tort, contract or otherwise (collectively, «Claims»), including, but not limited to, damages to property or personal injury, that
are caused by, arise out
of or
are related to (a) your use or misuse
of the Sites, Content or Products, (b) any User Content you create, post, share or store on or through the Sites or our pages or feeds on third party social media platforms, (c) any Feedback you provide, (d) your violation
of these Terms, (e) your violation
of the rights
of another, and (f) any third party's use or misuse
of the Sites or Products provided to you.
The deduction for business
interest expenses is generally capped at 30 %
of adjusted taxable income, among other requirements.
What we've found
is that money has
been going into equities at the
expense of interest rates early in the calendar year as investors make allocations.
Direct program
expenses were up $ 1.0 billion (5.5 %), primarily due to the timing
of payments as well as an increase in federal government employee pension and other future benefit liabilities, reflecting the impact
of lower
interest rates.
Interest coverage is the equivalent of a person taking the combined interest expense from his or her mortgage, credit card debt, automobile loans, student loans, and other obligations, then calculating the number of times it can be paid with their annual pre-tax
Interest coverage
is the equivalent
of a person taking the combined
interest expense from his or her mortgage, credit card debt, automobile loans, student loans, and other obligations, then calculating the number of times it can be paid with their annual pre-tax
interest expense from his or her mortgage, credit card debt, automobile loans, student loans, and other obligations, then calculating the number
of times it can
be paid with their annual pre-tax income.
The idea
of order
was made more difficult by wealthy families asserting their economic
interests at the
expense of society at large.
Room and board during school counts; however, if you used any
of your student loans to fund personal
expenses not related to education, you must reduce your deduction so you aren't deducting
interest paid on this portion
of your loans.
According to the IRS, business
interest expense is «an amount charged for the use
of money you borrowed for business activities.»
The short
of it
is that the dividends and
interest generated from my portfolio
of investments would exceed the amount
of expenses I incur to maintain our lifestyle.
Even with such differences in approach, these lenders ended up quoting fairly similar
expenses for the common 30 - year fixed rate mortgage, indicating that you should ask for a formal estimate if you
're truly
interested in comparing the actual costs
of borrowing from one lender or another.
• 1/2
of self - employment tax (self - employed individuals
are required to pay «payroll» taxes that an employer would otherwise take; these extra taxes can
be deducted from AGI, but
are included in MAGI) • Student loan
interest • Tuition and fees deduction • Qualified tuition
expenses • Passive income or loss • Rental losses • IRA contributions and taxable Social Security payments • Exclusion for income from U.S. savings bonds • Exclusion for adoption
expenses (under 137)
Such a incentive to borrow may
be undesirable, which
is why the 2005 Tax Reform Panel recommended accompanying full
expensing with the elimination
of the
interest deduction (Howard Gleckman
of the Tax Policy Center recently explained this point in more detail).
Examples
of forward - looking statements include, but
are not limited to, statements we make regarding the Company's plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions; sales; sales growth; sales trends; store traffic; retail prices; gross margin; operating margin;
expenses;
interest and other
expenses, net; effective income tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; growth opportunities; litigation outcomes and recovery related thereto; the collectability
of amounts due under financing arrangements with diamond mining and exploration companies; and certain ongoing or planned product, marketing, retail, manufacturing, information systems development, upgrades and replacement, and other operational and strategic initiatives.
One
of the more
interesting aspects
of Apple's R&D
expense trajectory in recent years
is that the increase has
been outpacing revenue growth.
Interest expense for both periods
was related to our convertible notes which converted into shares
of our Series E convertible preferred stock in May 2009.
Canada recently passed the Copyright Modernization Act, which
was created in response to U.S. government and corporate
interests working in a sophisticated fashion to advance American
interests at the
expense of other countries, including our own.
Assuming the New Credit Facility
was in place as
of December 27, 2012,
interest expense for the thirty - nine weeks ended September 24, 2014 would have
been $ 0.004 million.
Interest on private education loans qualifies, provided that the higher education
expenses are attributable to a particular academic period and the disbursement used to pay for those
expenses occurred during the academic period or a 90 - day window at the start and end
of the academic period.
This
was largely driven by an increase in workers» compensation
expense of $ 1.4 billion, resulting from changes in
interest rates.
The next section
of the income statement with which we
are going to deal gets into
interest income and
interest expense.
Adjusted EBITDA
is defined as net income / (loss) from continuing operations before
interest expense, other
expense / (income), net, provision for / (benefit from) income taxes; in addition to these adjustments, the Company excludes, when they occur, the impacts
of depreciation and amortization (excluding integration and restructuring
expenses)(including amortization
of postretirement benefit plans prior service credits), integration and restructuring
expenses, merger costs, unrealized losses / (gains) on commodity hedges, impairment losses, losses / (gains) on the sale
of a business, nonmonetary currency devaluation (e.g., remeasurement gains and losses), and equity award compensation
expense (excluding integration and restructuring
expenses).
Others combine them and reported them under either «
Interest Income - net» or «
Interest Expense - net,» depending upon whether there
is more
of the former or latter.