It is just that any cash not needed to run the business should not be part of the assessment of how well the company is performing, as it has not yet been invested
in operating assets of the company.
In effect this means the company pays extra in an acquisition for the companies operations so this is why goodwill is included
in operating assets.
The company has also included this information because changes
in operating assets and liabilities relate to the timing of cash receipts and disbursements which the company may not control and may not relate to the period in which the operating activities occurred.
Not exact matches
*
In the consolidated income statement, «Depreciation and amortization related to the revaluation of tangible and intangible assets as part of the purchase price allocation process» is now recognized in «Operating expenses»
In the consolidated income statement, «Depreciation and amortization related to the revaluation of tangible and intangible
assets as part of the purchase price allocation process» is now recognized
in «Operating expenses»
in «
Operating expenses».
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.
«Increased commodity prices, coupled with a focus on
operating efficiently and strengthening our portfolio, resulted
in higher earnings and the highest quarterly cash flow from operations and
asset sales since 2014,» Darren Woods, chairman and chief executive officer, said
in a statement.
The government is encouraging foreign investors to hold RMB - denominated
assets, and dealing
in the country's domestic currency allows businesses
operating in or trading there to minimize transaction costs.
Some 15,178 U.S. cash - balance plans were
operating at the end of 2014, boasting a record $ 1 trillion
in assets.
The financial services holding company
operates almost 2,000 financial centers
in the U.S., offering banking services,
asset management, securities brokerage and mortgage and insurance services.
Vodafone, Germany's No. 2 wireless player,
operates across the rest of the country, meaning there is no overlap
in the two companies» fixed - line
assets, the deal's backers say.
Principal documents that should be submitted by the entrepreneur who hopes to start a new business include: resume (and resumes of any other key people involved
in the proposed enterprise); current financial statement of all personal
assets and liabilities; summary of collateral; proposed
operating plan; and statement detailing revenue projections.
The National Association of Real Estate Investment Trusts («NAREIT») defines funds from operations («NAREIT FFO») as net income / (loss) attributable to common shareholders computed
in accordance with generally accepted accounting principles
in the United States («GAAP»), excluding gains or losses from sales of
operating real estate
assets and change
in control of interests, plus (i) depreciation and amortization of
operating properties and (ii) impairment of depreciable real estate and
in substance real estate equity investments and (iii) after adjustments for unconsolidated partnerships and joint ventures calculated to reflect NAREIT FFO on the same basis.
RadioShack, with 21,000 employees, $ 1.2 billion of
assets and $ 1.39 billion of debts according to court papers, said it also has an agreement with a lender group led by DW Partners for a $ 285 million loan to
operate in bankruptcy.
The Small Business Administration defines businesses eligible for SBA loans as those that:
operate for profit; are engaged
in, or propose to do business
in, the United States or its possessions; have reasonable owner equity to invest; and use alternative financial resources (such as personal
assets) first.
The acquisition would create a company with an ownership interest
in almost $ 100 billion real estate
assets globally and annual net
operating income of about $ 5 billion, according to Brookfield Property.
Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues; price competition
in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result
in increased inventory and reduced orders as we experience wide fluctuations
in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result
in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations
in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the economic and political uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs
in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up of production of our new products, and our entry into new business channels different from those
in which we have historically
operated; the risk that customers do not maintain their favorable perception of our brand and products, resulting
in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting
in significant additional costs, including costs associated with warranty returns or the potential recall of our products; ongoing uncertainty
in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits of the transaction; the risk that retail customers may alter promotional pricing, increase promotion of a competitor's products over our products or reduce their inventory levels, all of which could negatively affect product demand; the risk that our investments may experience periods of significant stock price volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable
assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development, such as our pipeline of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed
in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
«A good percentage of the
assets that are
operating today will still be
operating in 25 years,» said Ian Simm, founder and CEO of Impax
Asset Management Group.
«Platforms that engage
in the activity of a national securities exchange, regardless of whether that activity involves digital
assets, tokens, or coins, must register with the SEC or
operate pursuant to an exemption,» Marc Berger, director of the SEC's New York Regional Office, said
in a statement.
As long as the world
operates on fiat currencies, there will likely be inflation
in houses and real
assets.
The difference
in price between B.C. gas and global LNG wouldn't be high enough to pay for the
operating and capital costs of pipeline and liquefaction
assets.
With about one - third of the fleet
operating in support of Operation Inherent Resolve (indeed, four EC - 130Hs, teaming up with the RC - 135 Rivet Joint and other EA
assets, are
operating over Iraq and Syria to deny the Islamic State the ability to communicate), the fact that a single EC - 130H (73 - 1590 «Axis 43») was recently deployed from Davis Monthan AFB to Osan Air Base, South Korea, where it arrived via Yokota, on Jan. 4, 2018, it's pretty intriguing.
Yandex's Russian
operating subsidiaries» functional currency is the Russian ruble, and therefore changes due to exchange rate fluctuations
in the ruble value of these subsidiaries» monetary
assets and liabilities that are denominated
in other currencies are recognized as foreign exchange gains or losses within the Other loss, net line
in the condensed consolidated statements of income.
Cenovus» first quarter saw an increase
in its oil sands production to 144,000 barrels per day, up 20 % from the same period
in 2014, and lowered
operating costs across its
assets.
Whether depreciation is included
in cost of goods sold or
in operating expenses depends on the type of
asset being depreciated.
But that volatility, as Ghosh likes to note, is the upside of the integrated nature of the company, which gives it a continued hedge against the differential
in world oil prices through its downstream and midstream
assets — on the midstream side, Husky
operates a 2,000 - kilometre crude - oil pipeline system, and its downstream operations include upgrading and refining crude oil, and marketing gasoline, diesel, jet fuel, asphalt and ethanol
in Canada and the United States.
Because we hold significant
assets and liabilities
in currencies other than our Russian ruble
operating currency, and because foreign exchange fluctuations are outside of our operational control, we believe that it is useful to present adjusted net income and related margin measures excluding these effects,
in order to provide greater clarity regarding our
operating performance.
Based
in Winston - Salem, N.C., the company
operates 2,139 financial centers
in 15 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage,
asset management, mortgage and insurance products and services.
However, at nearly 63 times current earnings - a whopping p / e ratio, to be sure - even if the firm were to grow its profit to the level of Berkshire - $ 8.5 billion - it would still lack the liquid
assets and marketable securities the house that Warren Buffett built has, and it would not have a diversified income stream, making it far more vulnerable to changes
in the competitive landscape; a major concern when you contemplate that Google
operates in an industry where dramatic shifts consumer behavior can happen overnight.
In Australia First State
operates as Colonial First State Global
Asset Management.
Given the interest
in offshoring business and
assets among the ultra rich technorati, it seems unlikely that congress would ultimately be able to pin down tax liability, labor rules or much else if these companies decide to exercise their technical genius to seastead, build a jungle city, or find a nice island to
operate from.
Segment
operating earnings for our Specialty Retail Stores and Online segments do not reflect either the impact of adjustments to revalue our
assets and liabilities to estimated fair value at the Acquisition date or impairment charges related to declines
in fair value
The company's sales were down 39 % year - over-year due
in part to shuttered lines and
in part to fewer project sales, but despite $ 18 million
in restructuring and
asset impairment charges, First Solar still pulled off a positive
operating margin and a net profit of $ 52 million.
A second example is one
in which the economy is
in recession, or
operating below potential, and the financial system is going through a phase of deleveraging and low
asset prices (Chart 1, see «Case 2»).
The potential deal shows that Ferromex's parent, Mexican mining conglomerate Grupo Mexico (GMEXICOB.MX), is now seeking to apply its railroad
operating expertise to foreign
assets after dominating the railway freight sector
in Mexico.
U.S. residents do
in fact earn more on their
assets than they pay on their liabilities, and U.S. firms
operating abroad earn a higher rate of return than do foreign firms
operating in the United States.
Under the Bonus Plan, our compensation committee,
in its sole discretion, determines the performance goals applicable to awards, which goals may include, without limitation: attainment of research and development milestones, sales bookings, business divestitures and acquisitions, cash flow, cash position, earnings (which may include any calculation of earnings, including but not limited to earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization and net earnings), earnings per share, net income, net profit, net sales,
operating cash flow,
operating expenses,
operating income,
operating margin, overhead or other expense reduction, product defect measures, product release timelines, productivity, profit, return on
assets, return on capital, return on equity, return on investment, return on sales, revenue, revenue growth, sales results, sales growth, stock price, time to market, total stockholder return, working capital, and individual objectives such as MBOs, peer reviews, or other subjective or objective criteria.
In contrast,
operating leases accounting requires no record of debt or the value of the leased
asset on a company's balance sheet.
«The essence is that the fiduciaries have
operated the plan so as to receive management fees from the investment of plan
assets in their own funds, even when the investments are not
in the interest of the participants.»
The founders of a startup generally purchase shares at the time of incorporating the company at a nominal price per share, such as $ 0.0001 per share, paid
in cash, since at that time the company will have no
operating history, few
assets and thus little value.
At Trillium
Asset Management, Simon Billenness pioneered the use of shareholder engagement of companies
operating in countries with repressive regimes.
In order to
operate effectively, a company should have more
assets than liabilities to ensure that it has enough
assets to pay its short - term debt.
We make several adjustments to get from reported net
assets to invested capital because companies can hide
assets and liabilities off of the balance sheet
in the form of reserves,
operating leases, deferred compensation, and many other techniques.
SHANGHAI / BEIJING Bank of China Ltd (BoC), the country's fourth - largest lender by
assets, reported a smaller - than - expected drop
in quarterly profit, helped by rising interest income and falling
operating expenses.
Previously, foreign
asset managers looking to distribute investment products
in China had to
operate through minority - owned joint ventures with Chinese firms, but Beijing has been gradually loosening the reins.
Since restaurants
operate in an industry where future revenue streams are highly unpredictable, many small business lenders will often look at a company's
assets and liabilities to gauge the likelihood of a loan being paid back.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those
in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation of retail customers; the Company's ability to predict, identify and interpret changes
in consumer preferences and demand; the Company's ability to drive revenue growth
in its key product categories, increase its market share, or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible
assets; volatility
in commodity, energy and other input costs; changes
in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes
in relationships with significant customers and suppliers; execution of the Company's international expansion strategy; changes
in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the Company; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions
in the nations
in which the Company
operates; the volatility of capital markets; increased pension, labor and people - related expenses; volatility
in the market value of all or a portion of the derivatives that the Company uses; exchange rate fluctuations; disruptions
in information technology networks and systems; the Company's inability to protect intellectual property rights; impacts of natural events
in the locations
in which the Company or its customers, suppliers or regulators
operate; the Company's indebtedness and ability to pay such indebtedness; the Company's dividend payments on its Series A Preferred Stock; tax law changes or interpretations; pricing actions; and other factors.
In the second quarter of fiscal 2017, the company performed an interim impairment assessment on the intangible
assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit as
operating performance was well below expectations and a new leadership team of the Campbell Fresh division initiated a strategic review which led to a revised outlook for future sales, earnings, and cash flow.
Moreover, companies increasingly follow the practice of under - depreciating
assets to pump up their
operating earnings, writing down their
assets instead as «extraordinary losses» which aren't included
in that
operating earnings number.
Weighing the effect of
asset write - downs hidden
in operating expenses can be difficult for investors.
Figure 1 shows our 2012 rankings for the five companies with the largest
asset write - downs hidden
in operating expenses and the five with the largest write - downs as a percent of revenues.