2018.02.23 Royal Bank of Canada reports first quarter 2018 results Royal Bank of Canada (RY on TSX and NYSE) today reported net income of $ 3,012 million for the first quarter ended January 31, 2018, which includes the impact of the U.S. Tax Reform (1) of $ 178 million, or $ 0.12 per share, primarily related to the write - down of
net deferred tax assets.
In addition, as of December 31, 2007, 2008 and September 30, 2009, we had recorded a full valuation allowance on our United States
net deferred tax assets as at this point we believe it is more likely than not that we will not achieve profitability and accordingly be able to use our deferred tax assets in the foreseeable future.
First - quarter results, however, will be impacted by one - time writedowns as the banks reduce the value
net deferred tax assets already held on company balance sheets.
Not exact matches
Net profit included a writedown of 2.865 billion Swiss francs in the fourth quarter of
deferred tax assets due to the introduction a new
tax cuts and the jobs act in the United States.
The No. 1 U.S. mortgage financing company swung back from a
net loss of $ 6.53 billion in the fourth quarter due to a $ 9.9 billion writedown of its
deferred tax assets tied to the sweeping federal
tax...
Net profit attributable to SES shareholders of EUR 98.2 million (Q1 2017: EUR 128.4 million) included a positive
tax contribution related to the recognition of a
deferred tax asset following the entry into service of SES - 16 / GovSat - 1 which is not expected to repeat.
Barclays»
net loss was # 1.92 billion, part of which was a one - off # 901 million charge on U.S.
deferred tax assets.
* QTRLY
NET INCOME AND FFO INCLUDED A $ 14.5 MILLION RE-VALUATION REDUCTION OF A
DEFERRED TAX ASSET AS A RESULT OF
TAX ACT
Other long - term liabilities includes $ 7,634 in estimated
net deferred tax liabilities, resulting primarily from the non-deductibility of intangible
assets amortization expense.
Deferred tax assets relate primarily to
net operating losses acquired as part of certain acquisitions.
It will absorb a $ 35 million
net loss, after writing down
deferred tax assets associated with the business.
JPMorgan reported a
net $ 2.4 billion charge, made up of the impact of repatriation of overseas earnings and adjustments to
tax - oriented investments such as affordable housing and energy, but also offset partly by a revaluation of the firm's
deferred tax liabilities rather than
assets as at other firms.
Stratasys has racked up nearly $ 1.6 billion in GAAP
net losses over the past three years, you see, and if the company were ever to become profitable (or be acquired by a company that is profitable), then those $ 1.6 billion in «
deferred tax assets» could be used to offset future profits, and lower Stratasys» (or an acquirer's)
tax bill.
MLP funds accrue
deferred income
taxes for future
tax liabilities associated with the portion of MLP distributions considered to be a
tax -
deferred return of capital and for any
net operating gains as well as capital appreciation of its investments; this
deferred tax liability is reflected in the daily NAV; and, as a result, the MLP fund's after -
tax performance could differ significantly from the underlying
assets even if the pre-
tax performance is closely tracked.
In the six months ended March 31, 2018, as a result of the U.S.
Tax Cuts and Jobs Act, Post recorded a $ 265.3 million one - time income tax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnin
Tax Cuts and Jobs Act, Post recorded a $ 265.3 million one - time income
tax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnin
tax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing
deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnin
tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate
tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnin
tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition
tax on unrepatriated foreign earnin
tax on unrepatriated foreign earnings.
* As stated in the prospectus (pdf) dated 5/1/2018 ** Pursuant to an operating expense limitation agreement between Heartland Advisors and Heartland Group, Inc., on behalf of the Fund, Heartland Advisors has agreed to waive its management fees and / or pay expenses of the Fund to ensure that the Fund's total annual fund operating expenses (excluding front - end or contingent
deferred sales loads,
taxes, leverage, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividends or interest expenses on short positions, acquired fund fees and expenses, or extraordinary expenses) do not exceed 1.25 % of the Fund's average daily
net assets for the Investor Class Shares and 0.99 % for the Institutional Class Shares through at least May 1, 2019, and subject to annual re-approval of the agreement by the Board of Directors, thereafter.
Substantial historical distributions, ranging from 7.3 % of the
net asset value (NAV) in 2011 to 4.9 % in 2014, indicate that the fund may be more suitable for
tax -
deferred accounts.
Earnings in the period of $ 13.3 m attributable to equity shareholders were offset by losses of $ 4.7 m on the retranslation of the
net assets of foreign currency denominated operations, actuarial losses of $ 3.5 m (
net of
deferred tax) on employee defined benefit pension schemes, revaluation losses of $ 2.2 m (
net of
deferred tax) following the revaluation of property and the payment of the final 2012 dividend of $ 5.0 m to equity shareholders of the Company.
In that case, new shareholders buying common stocks at
net asset value would receive a bargain versus existing shareholders since the price new shareholders would pay, would reflect a 100 % deduction for these
deferred tax liabilities which might never, in fact, become payable.