Students at Midland College renting a townhouse or other dwelling off campus should get insured to protect themselves not only from theft and other property loss threats, but also from the risk
of liability expenses.
By limiting your liability coverage, you are analogously deciding to self - insure against the threat
of liability expenses, because any costs due that fall above the limits of your policy will in most cases become your responsibility to pay.
They include getting a certificate of deposit on file with the state treasurer, holding a trust fund of sufficient value, and keeping a bond with a state certified bond surety company for the purpose of taking care
of liability expenses in the wake of an at fault accident.
In most cases, it isn't the landowners themselves who take care
of the liability expenses, but the insurance companies who have agreed to cover their property.
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.
How will this affect tax issues, such as the repatriation
of profits, deductibility
of expenses and personal
liabilities?
You agree to defend, indemnify and hold harmless NBCUniversal, its affiliates and their respective directors, officers, employees and agents from and against any and all claims, demands, actions, suits or proceedings, as well as any and all losses,
liabilities, damages, costs and
expenses (including reasonable legal fees and costs) arising out
of or accruing from (a) any breach
of these terms, including any
of the foregoing provisions, representations or warranties, and / or from your placement or transmission
of any content onto NBCUniversal's servers, and / or from any and all use
of your account; (b) any material posted or otherwise provided by you (including without limitation User Content), or any other subscriber or user
of your account that infringes any intellectual property right
of any person or entity or defames any person or violates their rights
of publicity or privacy; (c) any misrepresentation made by you in connection with your use
of the online services; and (d) any breach
of any
of the representation, warranties or other terms or conditions relating to use
of your User Content or the online services.
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.
But before bringing just anyone on board, you need to understand that extra manpower entails a whole new string
of legal obligations,
liabilities,
expenses and,
of course, paperwork.
Let's also assume that you've concluded it would be advantageous to operate your small business through an entity that limits the personal
liability of all the owners — even if following this strategy involves a bit more paperwork, complexity, and possible
expense.
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.
Under Previous Standards, we did not reflect advertising fund contributions or advertising fund expenditures in our Consolidated Statement
of Operations, and temporary net differences between contributions and
expenses were reflected as prepaid assets or accrued
liabilities on our consolidated balance sheet.
Current
liabilities include notes payable on lines
of credit or other short - term loans, current maturities
of long - term debt, accounts payable to trade creditors, accrued
expenses and taxes (an accrual is an
expense such as the payroll that is due to employees for hours worked but has not been paid), and amounts due to stockholders.
In addition, Gilead makes estimates and judgments that affect the reported amounts
of assets,
liabilities, revenues and
expenses and related disclosures.
It also eliminates the
liability and unexpected
expense of paying out accrued and unused vacation days when employees leave (if you're among the companies that follow this practice).
Also included in this portion
of your cash flow analysis should be non-cash
expenses such as depreciation, adjustments made for losses or gains, and changes in all
of your current assets and
liabilities.
The Corporation shall maintain insurance to the extent reasonably available, at its
expense, to protect itself and any such director, officer, employee or agent
of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any such
expense,
liability or loss, whether or not the Corporation would have the power to indemnify such person against such
expense,
liability or loss under the Delaware General Corporation Law.
Generally, external financial statements are prepared on the accrual basis
of accounting, which means that assets and
liabilities are recorded when they are committed to, and revenue and
expenses are recorded when they are incurred (rather than when they are actually paid).
Examples include provisions that allow immediate
expensing or accelerated depreciation
of certain capital investments, and others that allow taxpayers to defer their tax
liability, such as the deferral
of recognition
of income on contributions to and income accrued within qualified retirement plans.
* For current executives it is way to give more to employees in a way that can benefit themselves at the
expense of future executives and shareholders, by capitalizing part
of wages into a «book»
liability that can be under - depreciated by current executives to the benefit
of their bonuses.
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.
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.
Shares
of the Trust are intended to reflect, at any given time, the market price
of gold owned by the Trust at that time less the Trust's
expenses and
liabilities.
You agree to indemnify, defend and hold harmless Franklin Templeton, its subsidiaries and affiliates, and each
of its and their officers, directors, employees and agents, from and against all claims, demands,
liabilities, damages, losses or
expenses, including attorney's fees and costs, arising out
of or related to (i) your improper access to or use
of this Site, (ii) any violation by you
of these Terms
of Use, (iii) any User Content that you Submit to or via the Site or (iv) any actual or alleged infringement or violation by you
of the intellectual property or other proprietary right
of any third party.
This resulted in a net gain in budgetary revenues
of $ 0.6 billion, but an
expense of $ 1.2 billion, resulting from the revaluation
of its
liability to Ontario [4].
You agree to indemnify, defend and hold harmless to Leith Wheeler and all its directors, officers, employees harmless from and against any and all
liabilities,
expenses and costs, including without limitation reasonable legal fees and
expenses, incurred by Leith Wheeler and related parties in connection with any claim arising out
of your use
of the website.
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.
Indemnification As a condition
of your use
of the Services, you agree to indemnify and hold Wellington Management, its affiliates, and its and their respective partners, directors, employees, and agents harmless from and against any and all claims, losses,
liability, costs, and
expenses (including but not limited to attorneys» fees) arising from your use
of the web site or from your violation
of these Terms.
Other accrual
liabilities, which could result in large adjustments at year end, although the Department
of Finance noted that part
of the increase in direct program
expenses to date was attributable to «an increase in the accrual cost
of employee and veteran future benefits».
In contrast, the Public Accounts / Budget / Updates are presented on an accrual basis
of accounting, recognizing an
expense when the
liability is incurred.
on a pro forma basis, giving effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred stock other than Series FP preferred stock into shares
of Class B common stock and the conversion
of Series FP preferred stock into shares
of Class C common stock in connection with our initial public offering, (ii) stock - based compensation
expense of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with a qualifying initial public offering, as further described in Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued
expenses and other current
liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common stock as
of December 31, 2016, as we intend to issue shares
of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common stock and 5.5 million shares
of Class B common stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this offering.
The Company prepares its consolidated financial statements in conformity with generally accepted accounting principles in the United States
of America («GAAP»), which requires it to make estimates and assumptions that affect the reported amounts
of assets and
liabilities and disclosure
of contingent assets and
liabilities at the date
of the financial statements, and the reported amounts
of sales and
expenses during the reporting period.
The fair value
of this
liability is adjusted at each reporting period, and the change in fair value is included in other income (
expense), net on the consolidated statement
of operations.
The pro forma consolidated balance sheet data gives effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred stock other than Series FP preferred stock into shares
of Class B common stock and the conversion
of Series FP preferred stock into shares
of Class C common stock in connection with our initial public offering, (ii) stock - based compensation
expense of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with this offering, as further described in Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued
expenses and other current
liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common stock as
of December 31, 2016, as we intend to issue shares
of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common stock and 5.5 million shares
of Class B common stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this offering.
Other long - term
liabilities includes $ 7,634 in estimated net deferred tax
liabilities, resulting primarily from the non-deductibility
of intangible assets amortization
expense.
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, operating in a highly competitive industry; changes in the retail landscape or the loss
of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts
of the Company's international operations; the Company's ability to leverage its brand value; 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 ability to realize the anticipated benefits from its cost savings initiatives; changes in relationships with significant customers and suppliers; the execution
of the Company's international expansion strategy; tax law changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product
liability claims; unanticipated business disruptions; 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 United States and in various other nations in which we operate; 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 we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's ability to protect intellectual property rights; impacts
of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact
of future sales
of its common stock in the public markets; the Company's ability to continue to pay a regular dividend; changes in laws and regulations; restatements
of the Company's consolidated financial statements; and other factors.
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 business and operations
of the Company in the expected time frame; 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; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; 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; tax law changes or interpretations; and other factors.
These adjustments include workers» compensation
expenses caused by actuarial revaluation and discount rate changes, PSRHBF prefunding
expenses, the amortization
of PSRHBF, CSRS and FERS unfunded
liabilities, and the change in accounting estimate.
These adjustments include workers» compensation
expenses caused by actuarial revaluation and discount rate changes, and the amortization
of PSRHBF, CSRS and FERS unfunded
liabilities.
Though you're allowed to deduct eligible medical
expenses to lower your tax
liability, you can only do so if your out -
of - pocket costs for the year exceed 10 %
of your adjusted gross income.
Without
liability coverage, a condo owner could be stuck paying out
of pocket for major
expenses that might be financially devastating.
Other direct program spending, consisting
of operating
expenses for Crown corporation, defence and all other departments and agencies, increased $ 2.3 billion (4.2 %), primarily reflecting increases in federal government employee pension and other future benefit
liabilities, reflecting the impact
of lower interest rates.
All other department and agency
expenses increased by $ 1.6 billion (3.2 %), largely reflecting an increase in actuarial
liabilities for claims and employees» pension and other future benefit costs, the latter reflecting the impact
of low interest rates on plan assets.
Adjusting the 2009 - 10 outcome for program
expenses for these extraordinary one - time
liabilities implies an underlying increase for 2010 - 11
of 4 per cent.
MFS will not be liable for any loss, cost,
expense or other
liability arising out
of any such instructions.
The net loss for the three months ended June 30, 2017 was $ 2.3 million, including non-cash income
of $ 1.2 million related to a gain recognized on the expiration
of warrants, which was offset by a non-cash
expense of approximately $ 3.3 million on the change in fair value
of the company's warrant
liability.
In contrast, the Budget is on an accrual basis
of accounting, recognizing
expenses when the
liability is incurred.
The savings created by the Liberal plan would allow the Balancing Pool to pay off the PPA
liability as part
of its normal operations, without incurring added
expense to consumers through interest payments.
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 earnings.
Most
of this improvement was due the lower
expenses in the second year
of the Economic Action Plan and extraordinary one - time
liabilities (HST harmonization and increased employee future benefit
liabilities), which inflated the deficit outcome for 2009 - 10.