You're paying off debt with expensive current dollars while reducing the after
tax interest expense of cheaper money.
Net Operating Profit After Tax (NOPAT) = Net Profit After Tax + After
Tax Interest Expense — After Tax Interest Income + Goodwill Amortization (if any)
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 thin
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 thin
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.
T - Mobile is not able to forecast net income on a forward looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP net income including, but not limited to, income
tax expense, stock - based compensation
expense and
interest expense.
Represents provision for income
taxes plus income
taxes on restructuring and other items and adjusted
interest expense.
We define EBITDA as net income plus depreciation and amortization,
interest expense, net, and provision for income
taxes.
Adjusted EBITDA for 2018 excludes stock - based compensation of approximately $ 1.0 million, amortization of acquired intangible assets of approximately $ 2.1 million, depreciation
expense of approximately $ 0.5 million, income
tax benefit of approximately $ 0.2 million, and
interest expense of approximately $ 2.0 million.
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 personn
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 personn
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 personn
Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of
expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
The recognition of a one - time deferred
tax asset relating to SES - 16 / GovSat - 1, which entered into service in March 2018, was the principal reason for the positive income
tax contribution of EUR 10.1 million (Q1 2017: EUR 27.7 million
expense), as well as the increase in non-controlling
interests to EUR 14.8 million (Q1 2017: EUR 0.9 million).
The business use percentage of
expenses are generally deductible for items such as rent, repairs, utilities, mortgage
interest, real estate
taxes, insurance, depreciation and any other
expenses.
But if your income has increased over what you estimated during the year or your
expenses are lower than anticipated, you will need to pay the amount owed or be subject to penalties and
interest when you finally do pay your
taxes.
Mylan refers to losses and
interest expense generated by its «clean energy investments,» as well as the fact that they qualify for
tax credits, in tables and footnotes at the bottom of its earnings releases.
After they deduct all business
expenses, such as salaries, fringe benefits, and
interest payments, C corporations pay a
tax on their profits at the corporate level.
Some of the most common itemized
tax deductions include, but are not limited to medical
expenses, charitable contributions, state and local
taxes, foreign
taxes, mortgage
interest deductions, mortgage points, health insurance if you are self employed, and losses related to natural disasters.
After the C corporation deducts all business
expenses, such as salaries, fringe benefits, and
interest payments, it pays a
tax on its profits at the corporate level.
(In contrast with a typical leveraged buyout, explains Nystrom, in an ESOP the principal and the
interest are
tax - deductible operating
expenses.)
Republican leaders have portrayed the drive for
tax reform as a benefit for middle - class families, often at the
expense of special
interests.
As the details of this plan become known, and as the political response builds from people who fear their
taxes will be raised, and as they build a coalition with special
interests who would lose out from other aspects of the proposal (like investors who do not like the proposed limitation on the deduction of business -
interest expenses), this plan will become an enormous liability.
EBITDA is defined as earnings (net income or loss) before
interest expense, net, (gain) loss on early extinguishment of debt, income
tax (benefit)
expense, and depreciation and amortization and is used by management to measure operating performance of the business.
They include cash collections from customers; cash paid to suppliers and employees; cash paid for operating
expenses,
interest and
taxes; and cash revenue from
interest dividends.
If you do happen to incur
interest from carrying a balance on a business credit card, be sure to note it on your
tax form — it counts as a business
expense.
2T - Mobile is not able to forecast net income on a forward looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP net income including, but not limited to, income
tax expense, stock based compensation
expense and
interest expense.
Debt
interest costs are fully
tax deductible as a business
expense and in the case of long term financing, the repayment period can be extended over many years, reducing the monthly
expense.
The Adviser of the Near - Term
Tax Free Fund has contractually limited, through April 30, 2018, the total fund operating
expenses (exclusive of acquired fund fees and
expenses, extraordinary
expenses,
taxes, brokerage commissions and
interest) to not exceed 0.45 %.
For example, the agencies do not count as
tax expenditures deductions the
tax law permits to measure income accurately, such as employers» deductions for employee compensation or
interest expenses.
It's also worth remembering though, you don't get the
tax deductions unless you're actually paying the
expenses of mortgage
interest, property
taxes, and mortgage insurance.
In addition, we believe it is useful to exclude
interest income and
expense, other income and
expense, and provision or benefit from income
taxes, as these items are not components of our core business operations.
This structure is commonly used by corporations as
interest, a
tax - deductible
expense, is maximized.
The figure leaves out some legal costs and stock - based compensation, as well as
taxes,
interest and other
expenses.
In addition, your mortgage
interest expense and property
tax both have a dollar - for - dollar value in reducing your taxable income.
Although that income is not
taxed, homeowners still may deduct mortgage
interest and property
tax payments as well as certain other
expenses from their federal taxable income.
Others include medical and dental
expenses, state and local income
taxes, mortgage
interest and property
taxes, casualty and theft losses, some job
expenses, and other miscellaneous deductions.
The itemized deductions that are limited include charitable donations,
taxes paid,
interest paid, job
expenses and other miscellaneous deductions.
As an added benefit, regulated utilities are exempt from a provision in the
tax law that places a cap on the
tax deductibility of
interest expense.
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.
Comments: The cut in the corporate
tax rate may alleviate some of the added
expense from the limitation of
interest rate deductibility.
To calculate the
interest coverage ratio using the figures found on the income statement, divide EBIT (earnings before
interest and
taxes) by the total
interest expense.
You can only take the student loan
tax deduction when you're paying
interest on student loans that you actually used to pay for school - related
expenses, according to TurboTax.
If it fails in its defence, CIBC said it would face an additional
tax expense of up to around $ 820 million and non-deductible
interest of approximately $ 157 million
There may be other costs associated with strategy programs, including but not limited to exchange fees, transfer
taxes,
interest expense, and closing costs.
• 1/2 of self - employment
tax (self - employed individuals are required to pay «payroll»
taxes that an employer would otherwise take; these extra
taxes can be deducted from AGI, but are included in MAGI) • Student loan
interest • Tuition and fees deduction • Qualified tuition
expenses • Passive income or loss • Rental losses • IRA contributions and taxable Social Security payments • Exclusion for income from U.S. savings bonds • Exclusion for adoption
expenses (under 137)
In addition, proposed US
tax reform could result in the elimination of certain
interest expense deductions, which could dampen private equity activity.
Such a incentive to borrow may be undesirable, which is why the 2005
Tax Reform Panel recommended accompanying full
expensing with the elimination of the
interest deduction (Howard Gleckman of the
Tax Policy Center recently explained this point in more detail).
Adjusted EBITDA (earnings before
interest expense (excluding consumer financing
interest expense), income
taxes, depreciation and amortization, as adjusted for organizational and separation related costs in connection with the company's spin - off from Marriott International, Inc. (the «Spin - Off») and other activity) totaled $ 50 million, a $ 17 million increase from the third quarter of 2012.
We intend, as its managing member, to cause SSE Holdings to make cash distributions to the owners of LLC
Interests in an amount sufficient to (i) fund all or part of their
tax obligations in respect of taxable income allocated to them and (ii) cover our operating expenses, including payments under the Tax Receivable Agreeme
tax obligations in respect of taxable income allocated to them and (ii) cover our operating
expenses, including payments under the
Tax Receivable Agreeme
Tax Receivable Agreement.
Finally, the tradeoff for the lower - than - expected corporate rate (21 % vs. 25 % est.) appears to be more mixed benefits on the personal side and modifications to some key corporate incentives from the way they were originally envisioned (i.e., a more limited
expensing provision, restrictions on
interest deductibility & loss carryforwards, higher repatriation rates & stronger international
tax provisions).
Examples of forward - looking statements include, but are not limited to, statements we make regarding the Company's plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions; sales; sales growth; sales trends; store traffic; retail prices; gross margin; operating margin;
expenses;
interest and other
expenses, net; effective income
tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; growth opportunities; litigation outcomes and recovery related thereto; the collectability of amounts due under financing arrangements with diamond mining and exploration companies; and certain ongoing or planned product, marketing, retail, manufacturing, information systems development, upgrades and replacement, and other operational and strategic initiatives.
An individual
tax filer has the choice of claiming the standard deduction or itemizing deductible
expenses from a list that includes state and local
taxes paid, mortgage
interest, and charitable contributions.
Adjusted earnings before
interest,
taxes, depreciation, depletion, amortization and exploration
expenses (adjusted EBITDAX) was $ 1.1 billion.
The Adviser of the Gold and Precious Metals Fund has voluntarily limited total fund operating
expenses (exclusive of acquired fund fees and
expenses of 0.07 %, extraordinary
expenses,
taxes, brokerage commissions and
interest, and advisory fee performance adjustments) to not exceed 1.90 %.