The Compensation Committee firmly believes in pay - for - performance and has therefore structured executive compensation so that over 90 % of Mr. Iger's compensation (and over 80 % of the compensation of other named executive officers) depends on the Company's
financial results and the performance of Disney stock.
Not exact matches
Performance assesses criteria such as return on capital
and shareholder return to determine which leaders are generating the best
financial results.
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.
The following measures are used by the Company's management to evaluate
financial performance against historical
results and establish targets on a consolidated basis.
Internally, the Company's management uses these measures to evaluate
performance against historical
results, to establish
financial targets on a consolidated basis
and for other reasons, which are discussed below.
Poor
financial performance,
and the
resulting impact on the company's stock price, is one of the most frequent criticisms made of Dauman.
United rejected the criticism, saying Munoz was «focused on getting out on the front line to enhance the customer
and employee experience at United,
and the
results are evident in our improved operational
and financial performance.»
We believe that adjusted diluted net income per share, adjusted net income, adjusted operating income, adjusted operating income margin
and adjusted EBITDA are useful measures for investors to review, because they provide a consistent measure of the underlying
financial results of our ongoing business
and, in our management's view, allow for a supplemental comparison against historical
results and expectations for future
performance.
We report our
financial results in accordance with GAAP, but believe that certain non-GAAP
financial measures provide useful supplemental information to investors regarding the underlying business trends
and performance of our ongoing operations
and are useful for period - over-period comparisons of those operations.
But the crises have started affecting its
financial performance because of concerns it will
result in heightened regulations,
and CBA shares are down about 7 percent so far this year while the broader market is up.
Fortune pointed to the quarterly report Tesla had filed just three days after the crash, warning that»... we face inherent risk of exposure to claims in the event our vehicles do not perform as expected
resulting in personal injury or death,»
and specifically calling out Autopilot as a technology that could
result in such claims
and materially affect
financial performance.
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.
Moreover, our list is driven primarily by data, specifically medium - term
financial and stock -
performance results.
The Company uses the non-GAAP
financial measures set forth in the news release in connection with its own budgeting
and financial planning internally to evaluate the
performance of the business, including to allocate resources
and to evaluate
results relative to incentive compensation targets.
Important factors that could cause our actual
results and financial condition to differ materially from those indicated in the forward - looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on Form
results and financial condition to differ materially from those indicated in the forward - looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on For
financial condition to differ materially from those indicated in the forward - looking statements include, among others, the following: our ability to successfully
and profitably market our products
and services; the acceptance of our products
and services by patients
and healthcare providers; our ability to meet demand for our products
and services; the willingness of health insurance companies
and other payers to cover Cologuard
and adequately reimburse us for our
performance of the Cologuard test; the amount
and nature of competition from other cancer screening
and diagnostic products
and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage
and reimbursement for our products
and services, including without limitation as a
result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines
and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society,
and the National Committee for Quality Assurance regarding cancer screening or our products
and services; our ability to successfully develop new products
and services; our success establishing
and maintaining collaborative, licensing
and supplier arrangements; our ability to maintain regulatory approvals
and comply with applicable regulations;
and the other risks
and uncertainties described in the Risk Factors
and in Management's Discussion
and Analysis of
Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on For
Financial Condition
and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on Form
Results of Operations sections of our most recently filed Annual Report on Form 10 - K
and our subsequently filed Quarterly Reports on Form 10 - Q.
Its rankings are based heavily on a company's long - term
financial results and — for the first time this year — take into account its environmental, social,
and governance
performance as measured by investment research firm Sustainalytics.
«Marcelo has done a remarkable job of turning around the Sprint brand
and business, driving enhanced network
performance, strong subscriber growth
and significant cost reductions leading to the best
financial results in Sprint's history,» said Masayoshi Son, Chairman
and CEO of SoftBank Group Corp. «Marcelo has also positioned Sprint as a leader in the race to 5G, which promises to revolutionize the communications industry.
More than 40 years ago, the Magna founder decided his company would experience higher productivity
and less labour strife —
and, as a
result, faster growth — if its workers got some of the
financial benefits of strong
performance.
Actual
results may differ materially from those expressed or implied in the forward - looking statements as a
result of various factors, including but not limited to: our substantial increased indebtedness as a
result of the 2015 Recapitalization
and the 2017 Recapitalization
and our ability to incur additional indebtedness or refinance that indebtedness in the future; our future
financial performance and our ability to pay principal
and interest on our indebtedness.
FORWARD - LOOKING STATEMENTS; ADDITIONAL INFORMATION Certain statements in this document, including statements relating to the proposed combination of SolarCity Corporation («SolarCity»)
and Tesla Motors, Inc. («Tesla»)
and the combined company's future
financial condition,
performance and operating
results, strategy
and plans are «forward - looking statements» within the meaning of the Private Securities Litigation Reform Act of 1995.
As a
result, we believe it is useful to exclude Starbucks activity to clearly show the impact Starbucks has had on our
financial results historically, to provide insight into the impact of the expected termination of the Starbucks agreement on our revenues in the future, to facilitate period - to - period comparisons of our business,
and to facilitate comparisons of our
performance to that of other payment processors.
These statements may involve a number of risks, uncertainties
and other factors that could cause actual
results to differ materially, including the
performance of
financial markets, the investment
performance of NexPoint Advisors, L.P.'s or Highland Capital Management L.P.'s sponsored investment products, general economic conditions, future acquisitions, competitive conditions
and government regulations, including changes in tax laws.
The payout level considered a balanced view of
performance, including
financial results lower than planned, but strong growth in strategic imperatives revenue, leading to a faster remix towards the business portfolio of the future while also progressing the core portfolio of systems
and services.
Overall, the Total Rewards Program aims to foster a high -
performance culture at all levels
and to provide an opportunity for employees to earn significant rewards if HP achieves strong
financial results.
Overall, the Total Rewards Program aims to foster a high -
performance culture at all levels
and to provide an opportunity for employees to earn significant rewards when HP achieves strong
financial results.
We now weight long - term
financial results at 80 %
and ESG
performance at 20 %.
Each year the Committee, along with HP management, establishes
performance targets for short -
and long - term incentive plans that require the achievement of significant
financial results.
While the elements of the Total Rewards Program are intended to motivate
and encourage employees at all levels of HP to drive
performance, there is a different emphasis on certain elements of the Total Rewards Program based on an employee's position
and ability to impact HP's
financial results.
While the HRC noted that the Company was not ranked # 1 in every
financial measure used to compare its
performance to that of its Peer Group, its overall average # 1 rank across these measures over all three time frames confirmed the Company's strong, consistent,
and superior core
results.
Because of these limitations, you should consider Adjusted Revenue alongside other
financial performance measures, including total net revenue
and our
financial results presented in accordance with GAAP.
You can find a narrative explanation of a company's
financial performance in a section of the quarterly or annual report entitled, «Management's Discussion and Analysis of Financial Condition and Results of Operation
financial performance in a section of the quarterly or annual report entitled, «Management's Discussion
and Analysis of
Financial Condition and Results of Operation
Financial Condition
and Results of Operations.»
Among other things, these forward - looking statements may include statements regarding the proposed combination of ILG
and MVW; our beliefs relating to value creation as a
result of a potential combination with ILG; the expected timetable for completing the transactions; benefits
and synergies of the transactions; future opportunities for the combined company;
and any other statements regarding ILG's
and MVW's future beliefs, expectations, plans, intentions,
financial condition or
performance.
If a work stoppage occurs, it could delay the manufacture
and sale of our
performance electric vehicles
and have a material adverse effect on our business, operating
results or
financial condition.
Accordingly, we believe that adjusted EBITDA provides useful information to investors
and others in understanding
and evaluating our operating
results, enhancing the overall understanding of our past
performance and future prospects,
and allowing for greater transparency with respect to a key
financial metric used by our management in its
financial and operational decision - making.
The
financial results for December 2013
and January 2014 mark a significant improvement from the fiscal
performance in the previous eight months.
Accordingly, our future
performance and financial results may differ materially from those expressed or implied in any such forward - looking statements.
In addition, as part of this assessment of internal control over
financial reporting, the company has determined that the tone at the top of the organization
and the
performance - based environment at the company, where challenging targets were set
and achieving those targets was a key
performance expectation, may have been contributing factors
resulting in the company's improper revenue recognition.
Our business, operating
results,
financial performance, or prospects could also be harmed by risks
and uncertainties not currently known to us or that we currently do not believe are material.
This release contains «forward - looking statements» that reflect the company's current expectations about the impact of its future plans
and performance on the company's business or
financial results.
As disclosed in our Consolidated
Financial Statements for the fiscal year ended October 31, 2010, HP matching contributions under both the HP 401 (k) Plan
and the EDS 401 (k) Plan in fiscal 2010 were on a quarterly, discretionary,
performance - based match of up to a maximum of 4 % of eligible compensation for all U.S. employees to be determined each fiscal quarter based on business
results.
Management believes that presenting the Company's non-GAAP
financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding
financial performance by excluding certain items, (ii) permits investors to view
performance using the same tools that management uses to budget, make operating
and strategic decisions,
and evaluate historical
performance,
and (iii) otherwise provides supplemental information that may be useful to investors in evaluating the Company's
results.
Many factors could cause BlackBerry's actual
results,
performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products
and services, or develop new products
and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services
and software offering; intense competition, rapid change
and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners
and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political
and economic developments in Venezuela
and the impact of foreign currency restrictions; risks relating to network disruptions
and other business interruptions, including costs, potential liabilities, lost revenues
and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement
and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract
and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand
and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use
and disclosure of confidential
and personal information; BlackBerry's ability to manage inventory
and asset risk; BlackBerry's reliance on suppliers of functional components for its products
and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain
and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board
and management changes
and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors
and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects
and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible assets recorded on BlackBerry's balance sheet; risks as a
result of actions of activist shareholders; government regulation of wireless spectrum
and radio frequencies; risks related to economic
and geopolitical conditions; risks associated with acquisitions; foreign exchange risks;
and difficulties in forecasting BlackBerry's
financial results given the rapid technological changes, evolving industry standards, intense competition
and short product life cycles that characterize the wireless communications industry.
While HP Co. reports its
financial results in accordance with U.S. generally accepted accounting principles («GAAP»), HP Co.'s
financial performance targets
and results under its incentive plans are sometimes based on non-GAAP
financial measures.
PREVISIONI; ULTERIORI INFORMAZIONI Certain statements in this document, including statements relating to the proposed combination of SolarCity Corporation («SolarCity»)
and Tesla Motors, Inc. («Tesla»)
and the combined company's future
financial condition,
performance and operating
results, strategy
and plans are «forward - looking statements» within the meaning of the Private Securities Litigation Reform Act of 1995.
Among other matters, the audit committee evaluates the independent auditors» qualifications, independence
and performance; determines the engagement of the independent auditors; reviews
and approves the scope of the annual audit
and the audit fee; discusses with management
and the independent auditors the
results of the annual audit
and the review of our quarterly
financial statements; approves the retention of the independent auditors to perform any proposed permissible non-audit services; monitors the rotation of partners of the independent auditors on the company's engagement team as required by law; reviews our critical accounting policies
and estimates; oversees our internal audit function
and annually reviews the audit committee charter
and the committee's
performance.
Accordingly, we believe that there should be a strong relationship between pay
and corporate
performance (both
financial results and stock price),
and our executive compensation program reflects this belief.
«The actions we have taken to be a more efficient, agile
and decisive organization have
resulted in stronger
financial performance,» said Ronald A. Rittenmeyer, Tenet executive chairman
and CEO.
This press release contains forward - looking statements that are based on management's current expectations, assumptions
and beliefs about its business,
financial performance, operating
results, the industry in which it operates
and other future events.
This prospectus contains «forward - looking statements» with respect to the Trust's
financial conditions,
results of operations, plans, objectives, future
performance and business.
It's a virtuous circle: rank -
and - file participation reinforces individual attention to
performance and profits; solid
financial results give people more freedom to innovate.