I compute this difference using 5 - year inflation data and the 5 -
year change in the exchange rate.
Not exact matches
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital markets conditions and other factors beyond the Company's control, including natural and other disasters or climate
change affecting the operations of the Company or its customers and suppliers; (2) the Company's credit
ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency
exchange rates and fluctuations
in those
rates; (5) the timing and market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur
in the legal and regulatory proceedings described
in the Company's Annual Report on Form 10 - K for the
year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
These risks and uncertainties include: Gilead's ability to achieve its anticipated full
year 2018 financial results; Gilead's ability to sustain growth
in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures
in European countries that may increase the amount of discount required on Gilead's products; an increase
in discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift
in payer mix to more highly discounted payer segments and geographic regions and decreases
in treatment duration; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations
in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations
in Gilead's earnings; market share and price erosion caused by the introduction of generic versions of Viread and Truvada, an uncertain global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect of lowering prices or reducing the number of insured patients; the possibility of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials
in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations
in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates
in the timelines currently anticipated; Gilead's ability to receive regulatory approvals
in a timely manner or at all, for new and current products, including Biktarvy; Gilead's ability to successfully commercialize its products, including Biktarvy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates, including GS - 9620 and Yescarta
in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to
changes in its stock price, corporate or other market conditions; fluctuations
in the foreign
exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (t
exchange rate of the U.S. dollar that may cause an unfavorable foreign currency
exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (t
exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time
in Gilead's reports filed with the U.S. Securities and
Exchange Commission (t
Exchange Commission (the SEC).
Commentary: «Revenues were up 8.3 % for the third quarter versus the prior -
year period, due primarily to higher commodity prices impacting the Company's supply chain revenues, higher same store sales
in both domestic and international stores, store count growth
in international markets and the positive impact of
changes in foreign currency
exchange rates.»
2 The percentage
change has been calculated using actual
exchange rates in use during the comparative prior
year period to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency
exchange rate fluctuations, which is considered a non-GAAP financial measure.
Factors that could cause or contribute to actual results differing from our forward - looking statements include risks relating to: failure of DBRS to
rate the Notes at the anticipated
ratings levels, which is a closing condition, or at all;
changes in the financial markets, including
changes in credit markets, interest
rates, securitization markets generally and our proposed securitization
in particular; the willingness of investors to buy the Notes; adverse developments regarding OnDeck, its business or the online or broader marketplace lending industry generally, any of which could impact what credit
ratings, if any, are issued with respect to the Notes; the extended settlement cycle for the scheduled closing on April 17, 2018, which may exacerbate the foregoing risks; and other risks, including those described
in our Annual Report on Form 10 - K for the
year ended December 31, 2017 and
in other documents that we file with the Securities and
Exchange Commission from time to time which are or will be available on the Commission's website at www.sec.gov.
«These strong
year - over-
year results were fueled by an acceleration
in our Americas» business led by the US and Canada, our 25th consecutive quarter of double - digit growth
in Germany, continued meaningful progress
in Asia - Pacific and
changes in foreign currency
exchange rates.
However, if the ordinary shares or ADSs are treated as traded on an «established securities market» and you are either a cash basis taxpayer or an accrual basis taxpayer that has made a special election (which must be applied consistently from
year to
year and can not be
changed without the consent of the IRS), you will determine the U.S. dollar value of the amount realized
in a non U.S. dollar currency by translating the amount received at the spot
rate of
exchange on the settlement date of the sale.
The 1 -
year non-deliverable forward (NDF)
rate for the renminbi rose by 2 1/2 per cent over November and December as officials stated China's commitment to flexibility
in the
exchange rate without confirming any timetable for regime
change.
Assuming no further
change in the
exchange rate, it would be expected to remain around that level during the second half of the
year before edging up slightly
in mid 2005 as the effects of the appreciation on prices begin to dissipate.
Our
exchange rate against the US dollar and the currencies of most of our trading partners has shown little net
change over the past
year, and the rise
in the trade - weighted index
in recent months has been due mainly to the weakness being experienced by the Japanese yen.
The import - weighted
exchange rate has depreciated over the past
year by around 7 per cent which, on the basis of past behaviour, would usually contribute to a somewhat smaller
change in imported goods prices over the same period.
Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines
in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments
in new markets; breaches
in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships;
changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions
in the agreements governing our indebtedness that limit our flexibility
in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions
in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations
in foreign currency
exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Com
exchange rates; overcapacity
in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future
changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays
in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases
in the price of, or major
changes or reduction
in, commercial airline services; seasonal variations
in passenger fare
rates and occupancy levels at different times of the
year; our ability to keep pace with developments
in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions;
changes involving the tax and environmental regulatory regimes
in which we operate; and other factors set forth under «Risk Factors»
in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and
Exchange Com
Exchange Commission.
Moreover, for all the uncertainties of long - term population forecasting, the likely
change in size and composition of a national population can be predicted over the course of the coming calendar
year with far greater certainty than can
changes in the harvest, the gross national product, the unemployment
rate, the foreign
exchange rate, or the demand for any particular product.
As a rule of thumb, based on our 2017 currency profile, each 1 U.S. cent move
in the average $ / $
exchange rate for the
year causes an opposite
change of approximately two euro cents
in diluted adjusted EPS.
Excluding the $ 371 million favorable impact from
year - over-
year changes in foreign
exchange rates throughout the quarter, net sales would have grown 39 % compared with third quarter 2010.
Excluding the unfavorable impact from
year - over-
year changes in foreign
exchange rates throughout the quarter, sales grew 28 %.
Excluding the $ 210 million favorable impact from
year - over-
year changes in foreign
exchange rates throughout the
year, net sales increased 31 % compared with 2016.
The unfavorable impact from
year - over-
year changes in foreign
exchange rates throughout the
year on net sales was $ 86 million.
Excluding the $ 854 million unfavorable impact from
year - over-
year changes in foreign
exchange rates throughout the
year, net sales grew 29 % compared with 2011.
The favorable impact from
year - over-
year changes in foreign
exchange rates throughout the quarter on operating income was $ 2 million.
The unfavorable impact from
year - over-
year changes in foreign
exchange rates throughout the
year on operating income was $ 14 million.
Excluding the $ 178 million unfavorable impact from
year - over-
year changes in foreign
exchange rates throughout the quarter, net sales grew 23 % compared with fourth quarter 2011.
This 96 % drop from the same quarter a
year ago is harsh, but Amazon says its profits were affected by
changes in the foreign
exchange rate.
The company blamed this loss on an «unfavorable impact from
year - over-
year changes in foreign
exchange rates.»
If we think a stock that appreciates 15 %
in a
year in its native currency is doing well, you add to or subtract from that the
change in exchange rate to your own currency.
Although the illustration above shows an extreme example of a
change in exchange rates, the table below shows the
year - over-
year volatility of the Canadian - U.S. dollar
exchange rate over time, which can also be significant over shorter periods of time.
Money
Exchange: As currency exchange rates in Asia fluctuate often we ask that you refer to the following website for daily exchange rates: www.xe.com It has been changing frequently in the pa
Exchange: As currency
exchange rates in Asia fluctuate often we ask that you refer to the following website for daily exchange rates: www.xe.com It has been changing frequently in the pa
exchange rates in Asia fluctuate often we ask that you refer to the following website for daily
exchange rates: www.xe.com It has been changing frequently in the pa
exchange rates: www.xe.com It has been
changing frequently
in the past
year.
In GBP / Sterling they've gone from # 930m last year to # 777m this year, a fall of # 153m - but again # 152m of that is down to changes in the exchange rat
In GBP / Sterling they've gone from # 930m last
year to # 777m this
year, a fall of # 153m - but again # 152m of that is down to
changes in the exchange rat
in the
exchange rate.
Not worth it
in my opinion - if a person wants to pay the loan off
in 15
years, they can still make extra payments but
in exchange for a very slightly higher
rate, maintain flexibility if plans
change or you have a bad month.