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[
"Additional information",
"334",
"Property, plants and equipment ",
"Employees and labor relations",
"In the United States, Aegon owns many of the buildings that the company uses in the normal course of its business, primarily as offices. ",
"Aegon owns 16 offices located throughout the United States with a total square footage of 2.0 million. Aegon also leases space for ",
"various offices located throughout the United States under long-term leases with a total square footage of 1.1 million. Aegon’s ",
"principal offices are located in Baltimore, Maryland; Cedar Rapids, Iowa; Los Angeles, California; St. Petersburg, Florida; Plano & Dallas, ",
"Texas; Harrison, New York; Little Rock, Arkansas; Atlanta, Georgia; and Exton, PA.",
"Other principal offices owned by Aegon are located in The Hague, the Netherlands; Budapest, Hungary; and Madrid, Spain. Aegon owns ",
"its headquarters and leases other offices in the Netherlands (Leeuwarden), the United Kingdom and Canada under long-term leases. ",
"Aegon believes that its properties are adequate to meet its current needs.",
"At the end of 2013, Aegon had 26,981 employees of which were 4,753 agent-employees. Approximately 46% are employed in the ",
"Americas, 17% in the Netherlands, 9% in the United Kingdom and 28% in New Markets.",
"Under Dutch law, members of the Central Works Council responsible for Aegon in the Netherlands are elected by Aegon the Netherlands’ ",
"employees. The Central Works Council has certain defined powers at the level of the Dutch subsidiary company Aegon Nederland N.V., ",
"including the right to make non-binding recommendations for appointments to its Supervisory Board and the right to enter objections ",
"against proposals for appointments to that Supervisory Board. Moreover, the Central Works Council of Aegon the Netherlands is to be ",
"consulted as regards a nomination for appointment pertaining to one seat on the Supervisory Board of Aegon.",
"All of Aegon’s employees in the Netherlands, other than senior management, are covered by collective labor agreements, which are ",
"generally renegotiated annually on an industry wide basis. Individual companies then enter into employment agreements with their ",
"employees based on the relevant collective agreement. Since its founding, Aegon has participated in collective negotiations in the ",
"insurance industry and has based its employment agreements with its employees on the relevant collective agreement. The collective ",
"agreements are generally for a duration of one year. Aegon has experienced no significant strike, work stoppage or labor dispute in ",
"recent years.",
"The number of employees per geographical area was:",
"See Note 14 of the notes to the consolidated financial statements of this Annual Report for a description of share-based payments ",
"to employees.",
"Annual Report 2013",
"2013",
"2012",
"2011",
"Americas",
"12,256",
"11,967",
"12,242",
"The Netherlands",
"4,584",
"4,930",
"5,166",
"United Kingdom",
"2,400",
"2,793",
"3,203",
"New Markets",
"7,651",
"7,160",
"8,659",
"26,891",
"26,850",
"29,270",
"Of which agent",
"4,753",
"4,402",
"5,948",
"Of which Aegon's share of employees in joint ventures and associates",
"1,462",
"1,546",
"1,073"
] | financial_reports |
|
[
"This pdf is interactive. The content is clickable so you can navigate through this document.",
"1",
"Table of contents",
"Financial statements of Aegon N.V.",
"Strategic information",
"Business overview",
"Other information",
"Other financial information",
"Additional information",
"Consolidated financial statements",
"Governance",
"Supervision",
"318",
"Risk factors ",
"318",
"Property, plants and equipment",
"334",
"Employees and labor relations ",
"334",
"Dividend policy",
"335",
"The offer and listing",
"336",
"Additional company information",
"337",
"Memorandum and Articles of Association ",
"337",
"Material contracts ",
"339",
"Exchange controls ",
"339",
"Taxation",
"339",
"Principal accountant fees and services ",
"346",
"Purchases of equity securities by the issuer ",
"and affiliated purchasers",
"347",
"Quarterly results – unaudited ",
"348",
"Glossary",
"349",
"Disclaimer",
"354",
"Independent auditor’s report ",
"306",
"Proposal for profit appropriation ",
"307",
"Major shareholders ",
"307",
"Income statement of Aegon N.V.",
"291",
"Statement of financial position of Aegon N.V.",
"292",
"Notes to the financial statements ",
"293",
"Introduction",
"3",
"Letter of the CEO ",
"4",
"Composition of the Executive Board and the ",
"Management Board ",
"6",
"Aegon’s strategy ",
"8",
"History and development of Aegon ",
"12",
"Selected financial data ",
"13",
"Business lines ",
"16",
"Results of operations",
"17",
"■",
"Worldwide",
"17",
"■",
"Americas",
"25",
"■",
"Netherlands",
"43",
"■",
"United Kingdom ",
"53",
"■",
"New Markets ",
"62",
"Risk management ",
"85",
"Capital and liquidity management ",
"88",
"In control statement ",
"92",
"Report of the Supervisory Board ",
"93",
"Members of the Supervisory Board ",
"99",
"Remuneration Report ",
"101",
"Corporate governance ",
"108",
"Differences between Dutch and US company laws ",
"112",
"Code of ethics ",
"113",
"Controls and procedures ",
"114",
"Exchange rates ",
"120",
"Consolidated income statement of Aegon N.V. ",
"122",
"Consolidated statement of comprehensive income ",
"of Aegon N.V.",
"123",
"Consolidated statement of financial position of Aegon N.V. ",
"124",
"Consolidated statement of changes in equity of Aegon N.V. ",
"125",
"Consolidated cash flow statement of Aegon N.V. ",
"128",
"Notes to the consolidated financial statements ",
"129",
"Remuneration",
"283",
"Independent auditor’s report ",
"289",
"Schedule I ",
"310",
"Schedule II ",
"311",
"Schedule III ",
"313",
"Schedule IV ",
"314",
"Schedule V ",
"315"
] | financial_reports |
|
[
"Table of Contents",
"Common stock issued from Treasury stock under the plans totaled 5,126,379 for 2019, 5,590,641 for 2018 and 11,139,748 for 2017. The total",
"number of shares authorized for equity awards under the amended and restated Caterpillar Inc. 2014 Long-Term Incentive Plan is 74,800,000,",
"of which 40,754,720 shares remained available for issuance as of December 31, 2019.",
"Stock option and RSU awards generally vest according to a three-year graded vesting schedule. One-third of the award will become vested on",
"the first anniversary of the grant date, one-third of the award will become vested on the second anniversary of the grant date and one-third of",
"the award will become vested on the third anniversary of the grant date. PRSU awards generally have a three-year performance period and cliff",
"vest at the end of the period based upon achievement of performance targets established at the time of grant.",
"Upon separation from service, if the participant is 55 years of age or older with more than five years of service, the participant meets the",
"criteria for a “Long Service Separation.”",
"Award terms for stock option and RSU grants allow for continued vesting as of each vesting date",
"specified in the award document for employees who meet the criteria for a “Long Service Separation” and fulfill a requisite service period of six",
"months.",
"Compensation expense for eligible employees for the grants was recognized over the period from the grant date to the end date of the",
"six-month requisite service period.",
"For employees who become eligible for a “Long Service Separation” subsequent to the end date of the six-",
"month requisite service period and prior to the completion of the vesting period, compensation expense is recognized over the period from the",
"grant date to the date eligibility is achieved.",
"For PRSU awards granted in 2018 and 2017, only a prorated number of shares may vest at the end of the performance period based upon",
"achievement of the performance target, with the proration based upon the number of months of continuous employment during the three-year",
"performance period.",
"Employees with a “Long Service Separation” must also fulfill a six-month requisite service period in order to be eligible for",
"the prorated vesting of outstanding PRSU awards granted in 2018 and 2017.",
"Compensation expense for the 2018 and 2017 PRSU grants is",
"being recognized on a straight-line basis over the three-year performance period for all participants. Award terms for the 2019 PRSU grant",
"allowed",
"for",
"continued",
"vesting",
"upon",
"achievement",
"of",
"the",
"performance",
"target",
"specified",
"in",
"the",
"award",
"document",
"for",
"employees",
"who",
"meet",
"the",
"criteria for a “Long Service Separation” and fulfill a requisite service period of six months. Compensation expense for the 2019 PRSU grant with",
"respect to employees who have met the criteria for a “Long Service Separation” is recognized over the period from the grant date to the end of",
"the six-month requisite service period. For employees who become eligible for a “Long Service Separation” subsequent to the end date of the",
"six-month requisite service period and prior to the completion of the vesting period, compensation expense is recognized over the period from",
"the grant date to the date eligibility is achieved.",
"At grant, option awards and SARs have a term life of ten years.",
"For awards granted prior to 2016, if the “Long Service Separation” criteria are",
"met, the vested options/SARs have a life that is the lesser of ten years from the original grant date or five years from the separation date.",
"For",
"awards granted beginning in 2016, the vested options have a life equal to ten years from the original grant date.",
"Accounting guidance on share-based payments requires companies to estimate the fair value of options/SARs on the date of grant using an",
"option-pricing",
"model.",
"The",
"fair",
"value",
"of",
"our",
"option/SAR",
"grants",
"was",
"estimated",
"using",
"a",
"lattice-based",
"option-pricing",
"model.",
"The",
"lattice-based",
"option-pricing model considers a range of assumptions related to volatility, risk-free interest rate and historical employee behavior.",
"Expected",
"volatility was based on historical Caterpillar stock price movement and current implied volatilities from traded options on Caterpillar stock. The",
"risk-free",
"interest",
"rate",
"was",
"based",
"on",
"U.S.",
"Treasury",
"security",
"yields",
"at",
"the",
"time",
"of",
"grant.",
"The",
"weighted-average",
"dividend",
"yield",
"was",
"based",
"on",
"historical information.",
"The expected life was determined from the lattice-based model. The lattice-based model incorporated exercise and post",
"vesting forfeiture assumptions based on analysis of historical data. The following table provides the assumptions used in determining the fair",
"value of the Option awards for the years ended December 31, 2019, 2018 and 2017, respectively.",
"80",
"Our long-standing practices and policies specify that all stock-based compensation awards are approved by the Compensation Committee (the",
"Committee) of the Board of Directors.",
"The award approval process specifies the grant date, value and terms of the award.",
"The same terms and",
"conditions",
"are",
"consistently",
"applied",
"to",
"all",
"employee",
"grants,",
"including",
"Officers.",
"The",
"Committee",
"approves",
"all",
"individual",
"Officer",
"grants.",
"The",
"number of stock-based compensation award units included in an individual’s award is determined based on the methodology approved by the",
"Committee.",
"The exercise price methodology approved by the Committee is the closing price of the Company stock on the date of the grant. In",
"June",
"of",
"2014,",
"shareholders",
"approved",
"the",
"Caterpillar",
"Inc.",
"2014",
"Long-Term",
"Incentive",
"Plan",
"(the",
"Plan)",
"under",
"which",
"all",
"new",
"stock-based",
"compensation",
"awards",
"are",
"granted.",
"In",
"June",
"of",
"2017,",
"the",
"Plan",
"was",
"amended",
"and",
"restated.",
"The",
"Plan",
"initially",
"provided",
"that",
"up",
"to",
"38,800,000",
"Common Shares would be reserved for future issuance under the Plan, subject to adjustment in certain events. Subsequent to the shareholder",
"approval of the amendment and restatement of the Plan, an additional 36,000,000 Common Shares became available for all awards under the",
"Plan."
] | financial_reports |
|
[
"2",
"15) ",
"Other Retail Businesses",
"【",
"telephone card and IC card",
"】",
"(F299990);",
"16) ",
"Online Certification Service Businesses (IZ13010);",
"17) ",
"Supply of Electronic Information Service Businesses (I301030);",
"18) ",
"Information Process Service Business (I301020);",
"19) ",
"Telecommunication Account Application Agency Businesses (IE01010);",
"20) ",
"Residential and Commercial Building Development, Rental and Sales Businesses ",
"(H701010);",
"21) ",
"Development of Special District/Zone Businesses (H701040);",
"22) ",
"Real Estate Sales Businesses (H703090);",
"23) ",
"Real Estate Rental Businesses (H703100);",
"24) ",
"Technique and Performing Arts Training (J201031)",
"25) ",
"Waste Disposal Businesses (J101040);",
"26) ",
"Community Common Cable Television Equipment Businesses (J502020);",
"27) ",
"Exhibition Service Businesses (JB01010);",
"28) ",
"General Advertising Service Businesses (I401010);",
"29) ",
"Department Store Businesses (F301010);",
"30) ",
"Communication Newsletter Businesses (J302010);",
"31) ",
"Industry and Commerce Credit Investigation Service Businesses (JD01010);",
"32) ",
"Public Notarization Businesses (IZ07010);",
"33) ",
"Parking Lot Operation Businesses (G202010);",
"34) ",
"Environmental Assessment Service Businesses (J101050);",
"35) ",
"Computer and Accessories Manufacturing Service (CC01110);",
"36) ",
"Information Storage an Process Equipment Manufacturing Businesses (CC01120);",
"37) ",
"Electronic Component Manufacturing Businesses (CC01080);",
"38) ",
"Other Electrical and Electronic Machinery & Equipment Manufacturing Businesses ",
"【",
"IC or ",
"Optical Card ",
"】",
"(CC01990);",
"39) ",
"Radio-Frequency Equipment Import Business (F401021);",
"40) ",
"General Hotel Business (J901020);",
"41) ",
"Computer and Administrative Device Wholesale Businesses (F113050);",
"42) ",
"Information Software Wholesale Businesses (F118010);",
"43) ",
"Computer and Administrative Device Retail Businesses (F213030);",
"44) ",
"Information Software Rental Businesses (F218010);",
"45) ",
"Energy Service Business (IG03010);",
"46) ",
"Engineering Consulting Business (I101061);",
"47) ",
"Refrigeration and Air-Conditioning Consulting Business (E602011);",
"48) ",
"Automatic Control Equipment Engineering Business (E603050);",
"49) ",
"Lighting Equipment Installation Business (E603090);",
"50) ",
"Non-store Retailer Business (F399040);",
"51) ",
"Power Equipment Installation and Maintenance Business (E601010) ;",
"52) ",
"Electrical Appliance Installation Business (E601020) ;",
"of businesses and institutions, telecommunication equipment inspection services, and ",
"agency sale of entry tickets and travel fares",
"】",
"(IZ99990);"
] | financial_reports |
|
[
"not able to reduce or eliminate the effect of the cost increases by reducing production costs or implementing price increases, our profit margins could decrease.",
"If commodity costs decline, we may experience pressures from customers to reduce our selling prices. The timing of any price reductions and decreases in",
"commodity costs may not align. As a result, our margins could be affected.",
"Nylon yarn is the principal raw material used in our floorcovering products. A significant portion of such yarn is purchased from one supplier. Our yarn supplier",
"is one of the leading fiber suppliers within the industry and is the exclusive supplier of certain innovative branded fiber technology upon which we rely. We",
"believe our offerings of this innovative fiber technology contribute materially to the competitiveness of our products. While we believe there are other sources",
"of nylon yarns, an unanticipated termination or interruption of our current supply of branded nylon yarn could have a material adverse effect on our ability to",
"supply our product to our customers and have a material adverse impact on our competitiveness if we are unable to replace our nylon supplier with another",
"supplier that can offer similar innovative and branded fiber products. An interruption in the supply of these or other raw materials or sourced products used in",
"our business or in the supply of suitable substitute materials or products would disrupt our operations, which could have a material adverse effect on our",
"business. We continually evaluate our sources of yarn for competitive costs, performance characteristics, brand value, and diversity of supply.",
"Unanticipated termination or interruption of our arrangements with third-party suppliers of nylon yarn could have a material adverse effect on",
"us.",
"We rely on information systems in managing our operations and any system failure or deficiencies of such systems may have an adverse effect on",
"our business.",
"The long-term performance of our business relies on our ability to attract, develop and retain qualified personnel.",
"We are subject to various governmental actions that may interrupt our supply of materials.",
"We may experience certain risks associated with internal expansion, acquisitions, joint ventures and strategic investments.",
"Table of Contents",
"9",
"We continually look for strategic and tactical initiatives, including internal expansion, acquisitions and investment in new products, to strengthen our future and",
"to enable us to return to sustained growth and to achieve profitability. Growth through expansion and acquisition involves risks, many of which may continue to",
"affect us after the acquisition or expansion. An acquired company, operation or internal expansion may not achieve the levels of revenue, profitability and",
"production that we expect. The combination of an acquired company’s business with ours involves risks. Further, internally generated growth that involves",
"expansion involves risks as well. Such risks include the integration of computer systems, alignment of human resource policies and the retention of valued",
"talent. Reported earnings may not meet expectations because of goodwill and intangible asset impairment, other asset impairments, increased interest costs",
"and issuance of additional securities or debt as a result of these acquisitions. We may also face challenges in consolidating functions and integrating our",
"organizations, procedures, operations and product lines in a timely and efficient manner.",
"We import most of our luxury vinyl flooring (\"LVF\"), some of our wood offering, some of our rugs and broadloom offerings. Though currently a small part of our",
"business, the growth in LVF products is an important product offering to provide our customers a complete selection of flooring alternatives. Recently there",
"have been trade proposals that threatened these product categories with added tariffs which would make our offerings less competitive compared to those",
"manufactured in other countries or produced domestically. These proposals, if enacted, or if expanded, or imposed for a significant period of time, would",
"materially interfere with our ability to successfully enter into these product categories and could have a material adverse effect upon the company's cost of",
"goods and results of operations.",
"To be successful, we must attract, develop and retain qualified and talented personnel in management, sales, marketing, product design and operations. We",
"compete with other floorcovering companies for these employees and invest resources in recruiting, developing, motivating and retaining them. The failure to",
"attract, develop, motivate and retain key employees could negatively affect our business, financial condition and results of operations.",
"Our businesses rely on sophisticated systems to obtain, rapidly process, analyze and manage data. We rely on these systems to, among other things, facilitate",
"the purchase, manufacture and distribution of our products; receive, process and ship orders on a timely basis; and to maintain accurate and up-to-date",
"operating and financial data for the compilation of management information. We rely on our computer hardware, software and network for the storage, delivery",
"and transmission of data to our sales and distribution systems, and certain of our production processes are managed and conducted by computer. Any damage",
"by unforeseen events or system failure which causes interruptions to the input, retrieval and transmission of data or increase in the service time, whether",
"caused by human error, natural disasters, power loss, computer viruses, intentional acts of vandalism, various forms of cybercrimes including and not limited to",
"hacking, intrusions and malware or otherwise, could disrupt our normal operations. There can be no assurance that we can effectively carry out our disaster",
"recovery plan to handle the failure of our information systems, or that we will be able to restore our operational capacity within sufficient time to avoid material",
"disruption to our business. The occurrence of any of these events could cause unanticipated disruptions in service, decreased customer service and customer",
"satisfaction and harm to our reputation, which could result in loss of customers, increased operating expenses and financial losses. Any such events could in",
"turn have a material adverse effect on our business, financial condition, results of operations, and prospects."
] | financial_reports |
|
[
"Parker provides precision-engineered",
"solutions for a variety of commercial,",
"mobile, industrial and aerospace mar-",
"kets. We design and manufacture optimal",
"systems using fluid connectors,",
"hydraulics, pneumatics, instrumentation,",
"refrigeration, filters, electromechanical",
"components, and seals required in",
"motion-control systems.",
"Our breadth of technologies and services",
"are unrivaled. With more than a millon",
"discrete line items and an infinite num-",
"ber of possible product combinations,",
"Parker has the most comprehensive",
"package in the motion and control indus-",
"try. Our ",
"total systems capability",
"us to deliver on our promise of ",
"premier",
"service",
"– integrating all appropriate",
"products from each of the eight Parker",
"business groups — ",
"providing our cus-",
"tomers with a complete, value-added",
"system",
".",
"Aerospace",
"Fluid",
"Connectors",
"Hydraulics",
"Automation",
"Climate",
"& Industrial",
"Controls",
"Seals",
"Filtration",
"Instrumentation",
"Total Parker",
"Systems",
"|",
">",
"Fi",
"=",
"Parker is the world’",
"s leading ",
"diversified manufacturer of ",
"motion and control technologies ",
"and systems.",
"Agriculture",
"Oil & Gas",
"Aviation/Aerospace",
"Packaging",
"Food & Beverage",
"Power Generation",
"& Energy",
"Industrial Machinery",
"Process",
"In-Plant Automotive",
"Pulp & Paper",
"Machine Tool",
"Refrigeration, Heating,",
"& Air Conditioning",
"Marine",
"Semiconductor",
"Medical &",
"Bio/Pharmaceutical",
"Telecommunications/",
"Information Technology",
"Mobile",
"Transportation"
] | financial_reports |
|
[
"TIDEWATER INC.",
"NOTES TO CONSOLIDATED FINANCIAL STATEMENTS",
"Years ended March 31, 2010, 2009, and 2008 ",
"Whereas fluctuating rates of return are characteristic of the securities markets, the investment objective of ",
"the supplemental plan is to achieve investment returns sufficient to meet the actuarial assumptions. This is ",
"defined as an investment return greater than the current actuarial discount rate assumption of 5.5%, which ",
"is subject to annual upward or downward revisions",
".",
" All objectives are based upon a five to ten year ",
"investment horizon. ",
"Equity securities may represent up to 75% of the market value of the plan assets with a minimum ",
"requirement of 55% of the market value of the plan. Equity holdings shall be restricted to issues of ",
"corporations that are actively traded on the major U.S. exchanges and NASDAQ. Debt securities will ",
"represent a maximum of 45% and a minimum of 25% of the market value of the plan. Debt security ",
"investments may include all securities issued by the U.S. Treasury or other federal agencies and investment ",
"grade corporate bonds. Up to 20% of the fixed income portfolio may be invested in bonds rated below ",
"investment grade. Cash and cash equivalent investments may represent a small portion of the plan market ",
"value, generally less than 10%. When a particular asset class exceeds its minimum or maximum allocation ",
"ranges, rebalancing will be addressed upon review of the quarterly performance reports and as cash ",
"contributions and withdrawals are made. ",
"The following table provides the target and actual asset allocations for the pension plan and the ",
"supplemental plan:",
"The pension plan and the supplemental plan assets are periodically evaluated for concentration risks. As of ",
"March 31, 2010, the company did not have any individual asset investments that comprised 10% or more of ",
"each plan’s overall assets.",
"The pension plan assets will primarily be invested in debt securities with no more than the greater of 5% of ",
"the fixed income portfolio or $2.5 million being invested in the securities of a single issuer, except ",
"investments in U.S. Treasury and other federal agency obligations. In the event that plan assets exceed the ",
"estimated plan liabilities for the pension plan, up to 15% of the market value of the assets will be invested in ",
"equity securities. The investment policy sets forth that the maximum single investment of the equity portfolio ",
"is 5% of the portfolio market value. Further, investments in foreign securities are restricted to American ",
"Depository Receipts (ADR) and stocks listed on the U.S. stock exchanges and may not exceed 10% of the ",
"equity portfolio. ",
"The current diversification policy for the supplemental plan sets forth that equity securities in any single ",
"industry sector shall not exceed 25% of the equity portfolio market value and shall not exceed 10% market ",
"value of the equity portfolio for equity holdings in any single corporation. Additionally, debt securities should ",
"be diversified between issuers within each sector with no one issuer comprising more than 10% of the ",
"aggregate fixed income portfolio, excluding issues of the U.S. Treasury or other federal agencies. ",
"F-21",
"Significant Concentration Risks ",
"Actual as of ",
"Actual as of ",
"Target",
"2010",
"2009",
"Pension plan: ",
"Equity securities",
"---",
"---",
"9%",
"Debt securities",
"100%",
"99%",
"61%",
"Cash and other ",
"--- ",
"1% ",
"30% ",
"Total",
"100%",
"100%",
"100%",
"Supplemental plan: ",
"Equity securities",
"65%",
"61%",
"48%",
"Debt securities",
"35%",
"36%",
"46%",
"Cash and other ",
"--- ",
"3% ",
"6% ",
"Total",
"100%",
"100%",
"100%"
] | financial_reports |
|
[
"To",
"Our Shareholders",
"OPERATING IN A RECESSION YEAR",
"2001 was a challenging year for our country, the national economy ",
"and the real estate markets in which Boston Properties concentrates.",
"Given this, we are pleased to be able to report that your Company ",
"continued to grow and record significant accomplishments and is in ",
"very strong financial and operational condition. As difficult conditions ",
"persist in many of our markets and the national economic outlook remains",
"uncertain, the Company has taken the steps necessary to best position",
"itself going forward both to deal with these immediate issues and to",
"actively pursue its objective of continued growth in shareholder value. ",
"This year Boston Properties faced the exigencies of operating during a",
"recession that, accentuated by the ",
"economic impacts of the horrendous events of September 11, was reflected in a steep",
"decline in demand for office space. Tenants who as recently as the start of 2001 had",
"strong appetites for further growth began offering for sublease space to which they were",
"already committed. Robust leasing activity was replaced by limited new deal flow. ",
"Not surprisingly, the impact on market rental rates and on direct and sublease vacancy",
"rates was negative.",
"This is the context in which we must assess our performance last year. ",
"We achieved an average increase in net rent during 2001 of 49.2% on lease extensions",
"and new tenancies totaling 2.7 million SF in our existing portfolio. We re-leased 48% of",
"the space scheduled for lease expirations in 2002, with 931,000 SF committed through",
"renewals and new tenancies. And in the face of a national rise in office vacancy to",
"13.4%, our vacancy rate at year’s end was 4.6%. While this vacancy is higher, and achieved rents on new leases and",
"renewals lower, than we had hoped at the start of the year, overall we grew Funds From Operations (FFO) by 7.9% and",
"Earnings Per Share by 18.8%.",
"2",
"CONTINUES",
"Mortimer B. Zuckerman, Chairman of the Board (right) and ",
"Edward H. Linde, President and Chief Executive Officer",
"FFO Per Share",
"1",
"and Dividends ",
"Per Share",
"2",
"For 1997, Pro Forma Funds From Operations",
"are presented as if the Company’s initial ",
"offering of common stock and related ",
"formation transactions (which were completed",
"on June 23, 1997) had occurred on January 1,",
"1997, and the dividend is annualized",
"1",
"Diluted",
"■",
"FFO",
"■",
"Dividends",
"$1.96",
"$2.50",
"$2.89",
"$3.57",
"$3.31",
"$1.62",
"$1.64",
"$1.75",
"$2.04",
"$2.24",
"1997",
"2",
"1998",
"1999",
"2000",
"2001"
] | financial_reports |
|
[
"impact on our operations and results. In addition, if these third parties violate, or are alleged to have violated, any laws or regulations,",
"including the local pharmaceutical code, U.S. Foreign Corrupt Practice Act, UK Bribery Act, the EU’s General Data Protection Regulation, and",
"other similar laws and regulations, during the performance of their obligations for us, it is possible that we could suffer financial and",
"reputational harm or other negative outcomes, including possible legal consequences.",
"We or regulatory authorities may need to change the labeling for any pharmaceutical product, including after a product has been marketed",
"for several years. These changes are often the result of additional data from post-marketing studies, head-to-head studies, adverse events",
"reports, studies that identify biomarkers (objective characteristics that can indicate a particular response to a product or therapy) or other",
"studies or post-marketing experience that produce important additional information about a product. New information added to a product’s",
"label can affect its risk-benefit profile, leading to potential recalls, withdrawals or declining revenue, as well as product liability claims.",
"Sometimes additional information from these studies identifies a portion of the patient population that may be non-responsive to a medicine",
"or would be at higher risk of adverse reactions and labeling changes based on such studies may limit the patient population. The studies",
"providing such additional information may be sponsored by us, but they could also be sponsored by competitors, insurance companies,",
"government institutions, MCOs, scientists, investigators or other interested parties. While additional safety and efficacy information from such",
"studies assist us and healthcare providers in identifying the best patient population for each product, it can also negatively impact our",
"revenues due to inventory returns and a more limited patient population going forward. Additionally, certain study results, especially from",
"head-to-head studies, could affect a product’s formulary listing, which could also adversely affect revenues.",
"Third parties may illegally distribute and sell counterfeit versions of our products, which do not meet our rigorous manufacturing and testing",
"standards. A patient who receives a counterfeit drug or a product diverted from its authorized market may be at risk for a number of",
"dangerous health consequences. Our reputation and business could suffer harm as a result of counterfeit drugs sold under our brand name or",
"diverted products. Thefts of inventory at warehouses, plants or while in-transit, which are then not properly stored and are later sold through",
"unauthorized channels, could adversely impact patient safety, our reputation and our business. In addition, diversion of products from their",
"authorized market into other channels may result in reduced revenues and negatively affect our profitability.",
"We are increasing our use of social media to communicate Company news and events. The inappropriate and/or unauthorized use of certain",
"media vehicles could cause brand damage or information leakage or could lead to legal implications, including from the improper collection",
"and/or dissemination of personally identifiable information from employees, patients, healthcare professionals or other stakeholders. In",
"addition, negative or inaccurate posts or comments about us on any social networking website could damage our reputation, brand image and",
"goodwill. Further, the disclosure of non-public Company-sensitive information by our workforce or others, whether intentional or unintentional,",
"through external media channels could lead to information loss.",
"We rely extensively on information technology systems, networks and services, including internet sites, data hosting and processing facilities",
"and tools, physical security systems and other hardware, software and technical applications and platforms, some of which are managed,",
"hosted provided and/or used for third-parties or their vendors, to assist in conducting our business. A significant breakdown, invasion,",
"corruption, destruction or interruption of critical information technology systems or infrastructure, by our workforce, others with authorized",
"access to our systems or unauthorized persons could negatively impact operations. The ever-increasing use and evolution of technology,",
"including cloud-based computing, creates opportunities for the unintentional dissemination or intentional destruction of confidential",
"information stored in our, or our third-party providers’, systems, portable media or storage devices. We could also experience a business",
"interruption, theft of confidential information or reputational damage from industrial espionage attacks, malware or other cyber-attacks, which",
"may compromise our system infrastructure or lead to data leakage, either internally or at our third-party providers. Although the aggregate",
"impact on our operations and financial condition has not been material to date, we have been the target of events of this nature and expect",
"them to continue as cybersecurity threats have been rapidly evolving in sophistication and becoming more prevalent in the industry. We have",
"invested in industry appropriate protections and monitoring practices of our data and IT to reduce these risks and continue to monitor our",
"systems on an ongoing basis for any current or potential threats. While we maintain cyber insurance, this insurance may not, however, be",
"sufficient to cover the financial, legal,",
"We are dependent on information technology and our systems and infrastructure face certain risks, including from",
"cybersecurity breaches and data leakage.",
"Increased use of social media platforms present risks and challenges.",
"The illegal distribution and sale by third parties of counterfeit or unregistered versions of our products or stolen products",
"could have a negative impact on our revenues, earnings, reputation and business.",
"Product labeling changes for our marketed products could result in a negative impact on revenues and profit margins.",
"29"
] | financial_reports |
|
[
"ODYSSEY RE HOLDINGS CORP.",
"NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued",
"5.",
"RETROCESSIONS",
"The Company utilizes retrocessional agreements principally to incr",
"ease aggregate premium capacity, to reduce and spread the",
"risk of loss on insurance and reinsurance",
"underwritten and to limit its exposure with respect to multiple claims arising from a",
"single occurrence. There is a contingent liability with respect to r",
"einsurance, which would become an ultimate liability of the",
"Company in the event that such reinsuring companies ar",
"unable, at some later date, to meet their obligations under the",
"reinsurance agreements in force. Reinsurance recoverables are r",
"ecorded as assets, based on the Company’s evaluation of the",
"retrocessionaires’ ability to meet their obligations under the retr",
"ocession",
"agreements. Premiums written and earned are stated",
"net of reinsurance",
"ceded",
"in the consolidated statements of operations. Direct, reinsurance assumed, reinsurance ceded and net",
"amounts",
"(in thousands and inclusive of amounts in note 6) for these items follow:",
"The total amount of reinsurance recoverable",
"on paid and unpaid losses as of December 31, 2004 was $1,182.0 million and",
"$1,142.1",
"million as of December 31, 2003. The Company is the beneficiary of letters of credit and trust agreements, and the",
"Company withholds funds from certain reinsurers to secur",
"these balances. The amount of this security as of December 31, 2004",
"was",
"$619.5 million, and was $599.3 million as of December 31, 2003. The Company has established a reserve for potentially",
"uncollectible reinsurance recoverables. The reserve",
"is based upon an evaluation of each retrocessionaire and the Company’s",
"assessment as to the collectibility of individual balances. The r",
"eserve as of December 31, 2004 and 2003 was $33.0 million and",
"$28.5 million, respectively, and has been netted against reinsurance",
"r",
"ecoverables on loss payments. The Company has also",
"established a reserve for potentially uncollectible assumed r",
"einsurance",
"balances of $5.9 million and $5.8 million as of December",
"31, 2004 and 2003, respectively, which has been netted against r",
"einsurance balances receivable.",
"The Company markets its reinsurance products",
"worldwide",
"primarily through reinsurance brokers as well as directly to its",
"customers. The Company’s five largest reinsurance brokerage",
"firms accounted for an aggregate of approximately 56% of",
"reinsurance gross premiums",
"written for the year ended December 31, 2004. Loss of all or a substantial portion of the business",
"provided by these brokers could have a material adverse effect",
"on the Company.",
"Clearwater is the beneficiary of a stop loss reinsurance agreement",
"with nSpire Re Limited (“nSpire Re”), a wholly owned",
"subsidiary of Fairfax (the “1995 Stop Loss Agreement”).",
"Pursuant to the agreement, Clearwater ceded premium of $60.5 million",
"in 1995 for an aggregate",
"limit of $175.0 million in excess of its December 31, 1995 reserves for unpaid losses and allocated loss",
"adjustment expenses and potentially uncollectible reinsurance r",
"ecoverables. Ceded losses and loss adjustment expenses",
"incurred",
"for the years ended December 31, 2004, 2003 and 2002 of $17.5 million in each year related to the stop loss agreement",
"ar",
"included in the accompanying statements of operations and note 6. Reinsurance recoverables on paid and unpaid losses",
"related to this agreement",
"of $157.5 million and $140.0 million as of December 31, 2004 and 2003, respectively, are reflected in",
"the accompanying balance sheets and are secured by letters of cr",
"edit or cash.",
"2004",
"Dir",
"ect",
"Assumed",
"Ceded",
"Net",
"Premiums written",
"$702,127",
"$1,954,382",
"$293,932",
"$2,362,577",
"Premiums earned",
"697,998",
"1,938,895",
"305,826",
"2,331,067",
"2003",
"Dir",
"ect",
"Assumed",
"Ceded",
"Net",
"Premiums written",
"$634,860",
"$1,923,296",
"$404,576",
"$2,153,580",
"Premiums earned",
"557,726",
"1,796,324",
"388,957",
"1,965,093",
"2002",
"Dir",
"ect",
"Assumed",
"Ceded",
"Net",
"Premiums written",
"$296,855",
"$1,597,675",
"$263,285",
"$1,631,245",
"Premiums earned",
"171,602",
"1,469,176",
"208,136",
"1,432,642",
"60"
] | financial_reports |
|
[
"5.",
"Term deposits",
"6.",
"Financial Instruments",
"Operating Loan Facility ",
"Contracts measured at fair value",
"Forward exchange contracts ",
"The term deposits are classified as short term as they can be redeemed prior to maturity without penalty.",
"During the fourth quarter of 2013 the Company increased its operating loan facility to $100,000,000 and ",
"extended its term for an additional year until 2018. During 2011, the Company established an operating ",
"loan facility totaling $50,000,000 with an initial five year term with its principal banker and during the fourth ",
"quarter of 2012 the Company increased its operating loan facility to $75,000,000 and extended its term for an ",
"additional year until 2017. The interest rate on the facility varies based upon the actual amounts borrowed, but ",
"ranges from 0.45% to 1.45% over prime interest rates or 1.45% to 2.45% over guaranteed notes, depending ",
"on the preference of the Company. Security for this facility includes a General Security Agreement covering all ",
"current and future assets. ",
" In accordance with its loan facility, the Company is required to ensure that the following covenants are met:",
"EBITDA is not a recognized measure under IFRS. EBITDA is defined as net income from continuing operations ",
"before interest expense, current tax expense, depreciation and amortization. Tangible Assets, as per the ",
"loan agreement, consists of all accounts receivable, inventory, unrestricted cash, term deposits and cash ",
"equivalents and the net book value of fixed assets. ",
"The Company did not access the loan facility in 2013. The Company accessed the loan facility during the ",
"second quarter of 2012 on a short-term basis, having repaid the amount borrowed prior to June 30, 2012. ",
"During the third quarter of 2013 the Company entered into a forward exchange contract as a risk management ",
"strategy. Forward exchange contracts are included in current assets/liabilities except for those with maturities ",
"greater than 12 months after the end of the reporting period, which are classified as non-current assets/",
"liabilities. The Company has not designated any of its forward exchange contracts as effective accounting ",
"hedges and, accordingly, fair values its forward exchange contracts with the resulting gains and losses recorded ",
"in the Consolidated Statement of Net Income and Comprehensive Income. ",
"47",
"AKITA DRILLING LTD. ",
"ANNUAL REPORT",
"NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS",
"$Thousands ",
"December 31",
"2013",
"December 31",
"2012",
"Term deposits",
" $",
"5,000 ",
"$",
"- ",
"Effective interest rate (%) on term deposits",
"1.5",
"N/A",
"Average number of days from year-end to maturity for term deposits",
"20",
"N/A",
"• ",
"the ratio of Funded Debt to EBITDA shall not exceed 3.00:1.00 calculated on a trailing 12 month ",
"basis;",
"• ",
"the ratio of EBITDA to Interest Expense shall not be less than 3.00:1.00 calculated on a trailing ",
"12",
"month basis;",
"• ",
"the ratio of Tangible Assets to Funded Debt shall not be less than 2.25:1.00."
] | financial_reports |
|
[
"223",
"Goodwill",
"To determine the recoverable amounts of the cash generating units of Aegon CEE, value in use was calculated, and compared to ",
"the carrying amounts. Value in use has been determined based on a business plan covering a period of typically three years further ",
"extrapolated to twenty years where the new business levels for years 4-20 assumed a growth rate based on the business plan of ",
"the third year, prudentially decreased by 10%-20%. Other key assumptions used for the calculation were pre-tax risk adjusted discount ",
"rate of 9.2%-15.9% (2012: 10.9%-16.4%), new business contribution, renewals, asset fees, investment return, persistency and ",
"expenses. Operating assumptions are best estimate assumptions and based on historical data where available. Economic assumptions ",
"are based on observable market data and projections of future trends.",
"Goodwill in Aegon USA is allocated to its divisions. Value in use calculations of Aegon USA have been actuarially determined based ",
"on business plans covering a period of typically five years and pre-tax risk adjusted discount rates. The value in use test in the USA for ",
"the Individual Savings & Retirement cash generating unit (EUR 106 million; 2012: EUR 111 million) assumes business plans covering ",
"a period of five years further extrapolated to ten years where the new business levels for years 6-10 assumed a 5% growth rate ",
"(2012: 5%) and pre-tax risk adjusted discount rate of 17% (2012: 17%).",
"A geographical summary of the cash-generating units to which the goodwill is allocated is as follows:",
"The economic assumptions used in all the calculations are based on observable market data and projections of future trends. All ",
"the cash-generating units tested showed that the recoverable amounts were higher than their carrying values, including goodwill. ",
"A reasonably possible change in any key assumption is not expected to cause the carrying value of the cash-generating units to exceed ",
"its recoverable amount.",
"The goodwill balance has been allocated across the cash-generating units which are expected to benefit from the synergies inherent ",
"in the goodwill. Goodwill is tested for impairment both annually and when there are specific indicators of a potential impairment. ",
"The recoverable amount is the higher of the value in use and fair value less costs to sell for a cash-generating unit. The operating ",
"assumptions used in all the calculations are best estimate assumptions and based on historical data where available. ",
"With the exception of goodwill, all intangible assets have a finite useful life and are amortized accordingly. VOBA and future servicing ",
"rights are amortized over the term of the related insurance contracts, which can vary significantly depending on the maturity of ",
"the acquired portfolio. VOBA currently recognized is amortized over an average period of 24 years, with an average remaining ",
"amortization period of 11 years (2012: 13 years). Future servicing rights are amortized over an average period up to 30 years, of ",
"which 9 remains at December 31, 2013 (2012: 14 years). Software is generally depreciated over an average period of 5 years. At ",
"December 31, 2013, the remaining average depreciation period was 4 years (2012: 4 years).",
"Amortization and depreciation through income statement is included in “Commissions and expenses”. None of the intangible assets ",
"have titles that are restricted or have been pledged as security for liabilities. ",
"The Polish government enacted into legislation its pension reform proposal. The outcome adversely impacts Aegon’s Polish pension ",
"business growth and profitability from current in-force business. As a result, Aegon impaired intangibles related to this business: ",
"goodwill (EUR 53 million); future servicing rights (EUR 110 million); and DPAC write offs (EUR 29 million). The DPAC write offs are ",
"included in the deferred expenses (note 29).",
"2013",
"2012",
"Americas",
"- USA",
"107",
"112",
"New Markets",
"- Central & Eastern Europe",
"48",
"101",
"- Other New Markets",
"27",
"29",
"Other",
"29",
"25",
"At December 31",
"211",
"266"
] | financial_reports |
|
[
"and providers, including developing plan lineups, creating investment ",
"policy statements, and monitoring investment performance.",
"We market our Investment Management services almost exclusively ",
"through our institutional sales team, which includes both strategic ",
"account managers and more specialized sales representatives. We ",
"employ a consultative sales approach and often tailor customized ",
"solutions to meet the needs of larger institutions. We have a regional ",
"sales team responsible for expanding relationships for Morningstar ",
"Managed Portfolios.",
"Our team of investment consultants draws on both quantitative ",
"research tools and qualitative expertise to assess investment pro-",
"grams, provide detailed analysis of performance and portfolio char-",
"acteristics, and make comprehensive recommendations for ",
"improvement. We also offer investment manager search services. ",
"Our staff combines the depth of Morningstar’s historical fundamen-",
"tal databases with detailed investment knowledge and investment ",
"experience to recommend qualified candidates for subadvisory firms, ",
"mutual fund managers, variable insurance trust managers, and ",
"separate account managers. Our investment monitoring services ",
"include analyst reports, customizable board reports, select lists, ",
"watch lists, and in-depth attribution analysis.",
"We believe our institutional clients value our independence, breadth ",
"of information, and customized services; in addition, we believe our ",
"research, tools, and advice reach many individual investors through ",
"this channel. We also reach approximately 2,100 financial advisors ",
"through our Managed Portfolios platform.",
"The Investment Management segment has not historically shown ",
"seasonal business trends; however, business results for this segment ",
"are typically more variable because of our emphasis on asset-based ",
"fees, which change along with market movements and other factors.",
"Our largest customer in the Investment Management segment made ",
"up approximately 18% of segment revenue in 2010.",
"In early 2010, Morningstar Associates announced an agreement with ",
"Pax World Funds to create and manage a series of four asset allocation ",
"portfolios featuring investment managers who incorporate environ-",
"mental, social, and governance issues in their investment process.",
"Morningstar Associates also launched a strategic relationship with ",
"a major online broker to provide asset-allocation services and model ",
"portfolios of mutual funds and ETFs for its advisory platform. In ",
"addition, Morningstar Associates introduced a new variable-annu-",
"ity fund-of-funds program with a key client in 2010, representing ",
"approximately $39 billion in assets as of December 31, 2010.",
"Ibbotson Associates, which we acquired in 2006, has a well-estab-",
"lished consulting business that began in 1977. Ibbotson’s Investment ",
"Consulting unit is a leading authority on asset allocation and draws ",
"on its knowledge of capital markets and portfolio building to con-",
"struct portfolios from the top down, starting at the asset class level. ",
"Ibbotson develops customized asset allocation programs for mutual ",
"fund firms, banks, broker-dealers, and insurance companies.",
"Our Investment Consulting area provides a broad range of services, ",
"many of which emphasize investment monitoring and asset alloca-",
"tion for funds of funds, including mutual funds and variable annui-",
"ties. We offer Investment Consulting services through Morningstar ",
"Associates, LLC, Morningstar Associates Europe, Ltd, Ibbotson ",
"Associates, Inc., Ibbotson Advisors, LLC, Ibbotson Associates ",
"Australia Limited, Morningstar Denmark, OBSR Advisory Services ",
"Limited, and Seeds Finance, SA, which are registered investment ",
"advisors and wholly owned subsidiaries of Morningstar, Inc. We ",
"plan to combine some of the capabilities offered by these units ",
"during 2011 to simplify our product lineup and offer clients the best ",
"combination of products and solutions to meet their needs. We ",
"emphasize contracts where we’re paid a percentage of assets under ",
"management for ongoing investment management and consulting, ",
"as opposed to one-time relationships where we’re paid a flat fee.",
"Ibbotson provides a range of consulting services, including licensing ",
"its asset allocation models, providing consulting services, and act-",
"ing as a portfolio subadvisor. Ibbotson works with different types ",
"of investment options, including mutual funds, variable annuities,",
"and ETFs, and provides both strategic and dynamic asset allocation ",
"services. The group offers consulting services and fund-of-funds ",
"subadvisory services, as well as tailored model portfolios, fund ",
"classification schemes, and questionnaire design.",
"Our investment professionals evaluate investment plans, recommend ",
"strategies, help set investment policies, develop asset allocation ",
"programs, construct portfolios, and monitor ongoing performance.",
"The group focuses on customized solutions that improve the inves-",
"tor experience and help our clients build their businesses. We offer ",
"these consulting services to clients in the United States, Asia, ",
"Australia, Canada, and Europe, including insurance companies, ",
"investment management companies, mutual fund companies, and ",
"broker-dealers. We also provide services for retirement plan sponsors ",
"Morningstar, Inc. 2010 Annual Report",
"39",
"Investment Consulting"
] | financial_reports |
|
[
"41",
"Net Realized and Unrealized Gains on Investments. The Company buys and sells securities and other investment assets on a regular basis in",
"order to maximize its total return on investments. Decisions to sell securities and other investment assets are based on management’s view of the",
"underlying fundamentals of specific investments as well as management’s expectations regarding interest rates, credit spreads, currency values",
"and general economic conditions. Effective January 1, 2018, the Company adopted new accounting guidance that requires all equity investments",
"with readily determinable fair values to be measured at fair value with changes in the fair value recognized through net income (other than those",
"equity securities accounted for under the equity method of accounting or those that result in consolidation of the investee). Net realized and",
"unrealized gains on investments were $154 million in 2018 compared with $336 million in 2017. In 2018, the gains reflected net realized gains on",
"investment sales of $480 million reduced by a change in unrealized gains on equity securities of $320",
"Insurance Service Fees. The Company earns fees from an insurance distribution business, a third-party administrator, and as a servicing",
"carrier of workers' compensation assigned risk plans for certain states. Insurance service fees were $118 million in 2018 and $135 million in 2017.",
"The decrease is primarily due to the sale of a third party administration business in third quarter of 2018.",
"Net investment income increased 17% to $674 million in 2018 from $576 million in 2017 primarily due to an increase in income from fixed",
"maturity securities of $46 million, a $41 million increase in investment funds, a $9 million increase in arbitrage trading account and a decrease in",
"investment expenses of $2 million, partially offset by a decrease in real estate of $1 million. Investment funds are reported on a one quarter lag.",
"The average annualized yield for fixed maturity securities was 3.6% in 2018 and 3.3% in 2017; accordingly, the increase in fixed maturity securities",
"income was mainly the result of a larger investment portfolio and higher interest rates. The effective duration of the fixed maturity portfolio was 2.8",
"years at December 31, 2018, down from 3.0 years at December 31, 2017. The Company has maintained a shortened duration of its fixed maturity",
"security portfolio. This has reduced the potential impact of mark-to-market adjustments on the portfolio and positioned the Company to take",
"advantage of rising interest rates. Average invested assets, at cost (including cash and cash equivalents), were $18.4 billion in 2018 and $17.5",
"billion in 2017.",
"Net Investment Income. Following is a summary of net investment income for the years ended December 31, 2018 and 2017:",
"Premiums earned increased 1% to $6,372 million in 2018 from $6,311 million in 2017. Insurance premiums (including the impact of rate",
"changes) are generally earned evenly over the policy term, and accordingly recent rate increases will be earned over the upcoming quarters.",
"Premiums earned in 2018 are related to business written during both 2018 and 2017. Audit premiums were $192 million in 2018 compared with",
"$172 million in 2017.",
"Net premiums written were $6,433 million in 2018, an increase of 3% from $6,261 million in 2017. Ceded reinsurance premiums as a",
"percentage of gross written premiums were 17% and 16% in 2018 and 2017, respectively.",
"A summary of gross premiums written in 2018 compared with 2017 by line of business within each business segment follows:",
"•",
"Insurance gross premiums increased 4% to $7,157 million in 2018 from $6,870 million in 2017. Gross premiums increased $156 million",
"(7%) for other liability, $87 million (12%) for professional liability, $64 million (4%) for short-tail lines and $54 million (7%) for commercial",
"auto, and decreased $74 million (4%) for workers' compensation.",
"•",
"Reinsurance gross premiums decreased 10% to $545 million in 2018 from $607 million in 2017. Gross premiums written decreased $38",
"million (19%) for property lines and decreased $24 million (6%) for casualty lines.",
"Amount",
"Average Annualized",
"Yield",
"(In thousands)",
"2018",
"2017",
"2018",
"2017",
"Fixed maturity securities, including cash and cash equivalents",
"and loans receivable",
"$",
"519,269",
"$",
"473,101",
"3.6",
"%",
"3.3",
"%",
"Investment funds",
"109,349",
"68,169",
"8.8",
"5.7",
"Arbitrage trading account",
"28,157",
"19,145",
"4.7",
"3.6",
"Real estate",
"18,591",
"19,975",
"1.0",
"1.5",
"Equity securities",
"3,230",
"2,350",
"1.4",
"1.1",
"Gross investment income",
"678,596",
"582,740",
"3.7",
"3.3",
"Investment expenses",
"(4,361",
")",
"(6,952",
")",
"—",
"—",
"Total",
"$",
"674,235",
"$",
"575,788",
"3.7%",
"3.3%"
] | financial_reports |
|
[
"30",
"June 2014",
"Notes to the Financial Statements",
"NOTE 45. RECONCILIATION OF PROFIT AFTER INCOME TAX TO NET CASH FROM ",
"OPERATING ACTIVITIES",
"Consolidated",
"30",
"June 2014",
"$’000",
"30",
"June 2013",
"$’000",
"Profit after income tax expense for the year",
"230,536 ",
"180,418 ",
"Adjustments for:",
"Depreciation and amortisation",
"196,684 ",
"127,058 ",
"Impairment loss",
"18,193 ",
"- ",
"Net (gain)/loss on disposal of property, plant and equipment",
"(61,852)",
"106 ",
"Non cash gain on legal settlement",
"(2,437)",
"- ",
"Exploration expenditure written off",
"3,833 ",
"- ",
"Change in operating assets and liabilities:",
"Decrease/(increase) in trade and other receivables",
"54,804 ",
"(53,075)",
"Increase in inventories",
"(35,350)",
"(8,568)",
"Decrease/(increase) in deferred tax assets",
"(4,454)",
"374 ",
"Decrease in derivative assets",
"- ",
"1,020 ",
"Increase in other operating assets",
"(9,117)",
"(3,754)",
"Increase in trade and other payables",
"125,148 ",
"40,721 ",
"Increase/(decrease) in derivative liabilities",
"(387)",
"387 ",
"Increase in provision for income tax",
"56,642 ",
"1,650 ",
"Increase/(decrease) in deferred tax liabilities",
"(11,053)",
"37,160 ",
"Increase in other provisions",
"5,366 ",
"6,138 ",
"Net cash from operating activities",
"566,556 ",
"329,635 ",
"NOTE 46. NON-CASH INVESTING AND FINANCING ACTIVITIES",
"NOTE 47. EARNINGS PER SHARE",
"Consolidated",
"30",
"June 2014",
"$’000",
"30",
"June 2013",
"$’000",
"Acquisition of plant and equipment by means of finance leases",
"- ",
"30,369 ",
"Consolidated",
"30",
"June 2014",
"$’000",
"30",
"June 2013",
"$’000",
"Profit after income tax",
"230,536 ",
"180,418 ",
"Non-controlling interest",
"551 ",
"877 ",
"Profit after income tax attributable to the owners of Mineral Resources Limited",
"231,087 ",
"181,295 ",
"Number",
"Number",
"Weighted average number of ordinary shares used in calculating basic earnings ",
"per share",
"186,210,291 ",
"185,987,992 ",
"Adjustments for calculation of diluted earnings per share:",
"Options over ordinary shares",
"-",
"200,000 ",
"Weighted average number of ordinary shares used in calculating diluted earnings per share",
"186,210,291 ",
"186,187,992 ",
"Cents",
"Basic earnings per share",
"124.10 ",
"97.48 ",
"Diluted earnings per share",
"124.10 ",
"97.37 ",
"Notes to the ",
"Financial ",
"Statements",
"For personal use only",
"92",
"Mineral Resources Limited",
"Annual Report 2014"
] | financial_reports |
|
[
"1 ",
"Mr. Button was appointed as CFO and member of Aegon’s Executive Board per May 15, 2013. Fixed compensation is disclosed for the period that Mr. Button has ",
"been part of the Executive Board",
"2 ",
"Mr. Nooitgedagt’s fixed compensation is reflective of his time with Aegon till retirement as per August 1, 2013",
"Subject to the adoption of the annual accounts at the General ",
"Meeting of Shareholders on May 21, 2014, variable ",
"compensation for Executive Board members is set in cash and ",
"shares, based on both their individual and the company´s ",
"performance. Targets for the performance indicators have been ",
"set in line with the agreed variable compensation targets and ",
"2013 company budgets. Actual performance is being measured ",
"over 2013. Under the Executive Board Remuneration Policy ",
"2011, the variable compensation Executive Board members are ",
"entitled to will be paid out over a number of years. ",
"Over the performance year 2013, Mr. Wynaendts was awarded ",
"EUR 1,031,635 in total conditional variable compensation. ",
"Mr. Button was awarded EUR 467,665",
"3",
". Mr. Nooitgedagt ",
"was awarded EUR 433,959",
"4",
" total conditional variable ",
"compensation ",
"5",
".",
"Forty percent of variable compensation related to performance ",
"year 2013 is payable in 2014. This will be split 50/50 in a cash ",
"payment and in an allocation of shares. ",
"Mr. Wynaendts and Mr. Button are eligible to receive ",
"in 2014 a cash payment of EUR 206,327 and ",
"EUR 93,533 respectively.",
"The number of shares to be made available in 2014 is 41,961 for ",
"Mr. Wynaendts and 19,146 for Mr. Button. With regard to ",
"vested shares (with the exception of shares sold to meet income ",
"tax obligations), a retention (holding) period is applicable for ",
"a further three years, before they are at the disposal of the ",
"Executive Board members.",
"The remaining part of variable compensation for the performance ",
"year 2013 (60% of the total, which for Mr. Wynaendts equates ",
"to EUR 309,489 and 62,943 shares and for Mr. Button equates ",
"to EUR 140,300 and 28,716 shares) is to be paid out in future ",
"years, subject to ex-post assessments which may result in ",
"downward adjustments and be subject to meeting additional ",
"conditions. In each of the years 2015, 2016 and 2017, 20% of ",
"the total variable compensation may be made available. Any ",
"payout will be split 50/50 in a cash payment and an allocation ",
"of shares (vesting). After vesting (with the exception of shares ",
"sold to meet income tax obligations), a retention (holding) period ",
"is applicable for a further three years, before shares are at the ",
"disposal of the Executive Board members.",
"No variable compensation from previous performance years ",
"payable in 2013 has been adjusted downwards in 2013.",
"No circumstances have been identified to lower payout of the ",
"deferred payment from prior performance years that vests ",
"in 2014 (the so called “ex post assessment”) or to lower the ",
"payout of the up-front payment of the 2013 performance ",
"year variable compensation that vests in 2014 (the so called ",
"“ex-ante 3 assessment”).",
"Impact of ex-ante and ex-post assessment on attribution ",
"of variable compensation",
"Conditional variable compensation awards 2013",
"107",
"Member",
"2013",
"2012",
"Alexander R. Wynaendts CEO & Chairman EB",
"1,049,156",
"1,049,156",
"Darryl D. Button CFO & Member EB",
"1)",
"474,789",
"-",
"Jan J. Nooitgedagt CFO & Member EB (retired)",
"2)",
"433,959",
"743,930",
"3",
"Mr. Button was appointed as CFO and member of Aegon’s Executive Board per May 15, 2013. Conditional variable compensation is disclosed for the",
"period that Mr. Button has been part of the Executive Board.",
"4",
"Mr. Nooitgedagt’s conditional variable compensation is reflective of his time with Aegon till retirement as per August 1, 2013.",
"5",
"Mr. Nooitgedagt’s variable compensation is paid out as follows. 40% equally split in cash (EUR 86,792) and shares (17,650) both vesting in 2014.",
"The remaining part (60%, EUR 130,188 and 26,478 shares) will be split in thee equal parts and will vest in cash and shares in 2015, 2016 and 2017.",
"The vested shares (with the exception of shares sold to meet income tax obligations) are subject to a three year retention (holding) period before they",
"are at the disposal of Mr. Nooitgedagt."
] | financial_reports |
|
[
"SWEPCo",
"Uncertainty of Fair Value Measurements",
"348",
"The following table provides the measurement uncertainty of fair value measurements to increases (decreases) in significant",
"unobservable inputs related to Energy Contracts, Natural Gas Contracts, FTRs and Other Investments for the Registrants as of",
"December 31, 2020 and 2019:",
"(d)",
"Represents percentage discount applied to the publically available share price.",
"(c)",
"The weighted-average is the product of the forward market price of the underlying commodity and volume weighted by",
"term.",
"(b)",
"Represents market prices in dollars per MMBtu.",
"(a)",
"Represents market prices in dollars per MWh.",
"Significant Unobservable Input",
"Position",
"Change in Input",
"Impact on Fair Value",
"Measurement",
"Forward Market Price",
"Buy",
"Increase (Decrease)",
"Higher (Lower)",
"Forward Market Price",
"Sell",
"Increase (Decrease)",
"Lower (Higher)",
"Liquidity Adjustment",
"Buy",
"Increase (Decrease)",
"Lower (Higher)",
"December 31, 2019",
"Significant",
"Input/Range",
"Fair Value",
"Valuation",
"Unobservable",
"Weighted",
"Assets",
"Liabilities",
"Technique",
"Input",
"Low",
"High",
"Average (c)",
"(in millions)",
"Natural Gas",
"Contracts",
"$",
"— ",
"$",
"4.9 ",
"Discounted Cash",
"Flow",
"Forward Market",
"Price (b)",
"$",
"1.89 ",
"$",
"2.51 ",
"$",
"2.18 ",
"FTRs",
"6.5 ",
"0.2 ",
"Discounted Cash",
"Flow",
"Forward Market",
"Price (a)",
"(8.52)",
"0.85 ",
"(2.31)",
"Total",
"$",
"6.5 ",
"$",
"5.1 ",
"December 31, 2020",
"Significant",
"Input/Range",
"Fair Value",
"Valuation",
"Unobservable",
"Weighted",
"Assets",
"Liabilities",
"Technique",
"Input",
"Low",
"High",
"Average (c)",
"(in millions)",
"Natural Gas",
"Contracts",
"$",
"— ",
"$",
"1.7 ",
"Discounted Cash",
"Flow",
"Forward Market",
"Price (b)",
"$",
"2.18 ",
"$",
"2.77 ",
"$",
"2.41 ",
"FTRs",
"3.3 ",
"— ",
"Discounted Cash",
"Flow",
"Forward Market",
"Price (a)",
"(6.93)",
"0.48 ",
"(1.93)",
"Total",
"$",
"3.3 ",
"$",
"1.7 "
] | financial_reports |
|
[
"CONSTELLATION BRANDS, INC. AND SUBSIDIARIES",
"CONSOLIDATED STATEMENTS OF INCOME",
"For the Years Ended ",
"February 29,",
"February 28,",
"February 28,",
"2004",
"2003",
"2002",
"SALES",
"$",
"4,469,27",
"$",
"3,583,082",
"$",
"3,420,213",
"Less – Excise taxes ",
"(916,841)",
"(851,470)",
"(813,455)",
"Net sales ",
"3,552,429 ",
"2,731,612 ",
"2,606,758 ",
"COST OF PRODUCT SOLD ",
"(2,576,641)",
"(1,970,897)",
"(1,911,598)",
"Gross profit ",
"975,788 ",
"760,715 ",
"695,160 ",
"SELLING, GENERAL AND ADMINISTRATIVE",
"EXPENSES",
"(457,277)",
"(350,993)",
"(355,269)",
"RESTRUCTURING AND RELATED CHARGES ",
"(31,154)",
"(4,764)",
"––",
"Operating income ",
"487,357 ",
"404,958 ",
"339,891 ",
"GAIN ON CHANGE IN FAIR VALUE OF",
"DERIVATIVE INSTRUMENTS ",
"1,181 ",
"23,129 ",
"––",
"EQUITY IN EARNINGS OF JOINT VENTURE ",
"542 ",
"12,236 ",
"1,667 ",
"INTEREST EXPENSE, net ",
"(144,683)",
"(105,387)",
"(114,189)",
"Income before income taxes",
"344,397 ",
"334,936 ",
"227,369 ",
"PROVISION FOR INCOME TAXES ",
"(123,983)",
"(131,630)",
"(90,948)",
"NET INCOME",
"220,414 ",
"203,306 ",
"136,421 ",
"Dividends on preferred stock ",
"(5,746)",
"––",
"––",
"INCOME AVAILABLE TO COMMON ",
"STOCKHOLDERS",
"$",
"214,668",
"$",
"203,306",
"$",
"136,421",
"SHARE DATA:",
"Earnings per common share: ",
"Basic",
"$",
"2.13",
"$",
"2.26",
"$",
"1.60",
"Diluted",
"$",
"2.06",
"$",
"2.19",
"$",
"1.55",
"Weighted average common shares outstanding: ",
"Basic",
"100,702",
"89,856",
"85,505",
"Diluted",
"106,948",
"92,746",
"87,825",
"SUPPLEMENTAL DATA RESTATED FOR ",
"EFFECT OF SFAS NO. 142: ",
"Adjusted operating income ",
"$",
"487,357 ",
"$",
"404,958 ",
"$",
"367,190 ",
"Adjusted net income ",
"$",
"220,414 ",
"$",
"203,306 ",
"$",
"155,367 ",
"Adjusted income available to common stockholders ",
"$",
"214,668 ",
"$",
"203,306 ",
"$",
"155,367 ",
"Adjusted earnings per common share: ",
"Basic",
"$",
"2.13",
"$",
"2.26",
"$",
"1.82",
"Diluted",
"$",
"2.06",
"$",
"2.19",
"$",
"1.77",
"The accompanying notes to consolidated financial statements are an integral part of these statements.",
"40",
"(in thousands, except per share data)"
] | financial_reports |
|
[
"Assumptions used for the years ended March 31, 2010 and ",
"2009 are set forth below:",
"other corporate bonds of ¥280 million ($3,009 thousand) and long-",
"term debt of ¥16,382 million ($176,076 thousand) at March 31, ",
"2010 were as follows:",
"The Group has cash balance pension fund plans, tax-qualified ",
"pension fund plans, defined contribution pension plans and plans ",
"of retirement lump-sum grants as defined benefit plans. Also, the ",
"Group occasionally pays a premium retirement allowance to ",
"employees upon retirement, and this is not subject to an actuarial ",
"calculation based on retirement allowance accounting.",
"The liability for employees’ retirement benefits at March 31, ",
"2010 and 2009 consisted of the following:",
"Japanese companies are subject to the Companies Act of Japan (the ",
"“Companies Act”). The significant provisions in the Companies Act ",
"that affect financial and accounting matters are summarized below:",
"Under the Companies Act, companies can pay dividends at any ",
"time during the fiscal year in addition to the year-end dividend upon ",
"resolution at the shareholders meeting. For companies that meet ",
"certain criteria such as; (1) having the Board of Directors, (2) having ",
"independent auditors, (3) having the Board of Corporate Auditors, ",
"and (4) the term of service of the directors is prescribed as one year ",
"rather than two years of normal term by its articles of incorporation, ",
"the Board of Directors may declare dividends (except for dividends ",
"in kind) at any time during the fiscal year if the company has pre-",
"scribed so in its articles of incorporation. The Company meets all ",
"the above criteria.",
"The Companies Act permits companies to distribute dividends-",
"in-kind (non-cash assets) to shareholders subject to a certain limita-",
"tion and additional requirements. The Companies Act provides ",
"certain limitations on the amounts available for dividends or the ",
"purchase of treasury stock. The limitation is defined as the amount ",
"available for distribution to the shareholders, but the amount of net ",
"assets after dividends must be maintained at no less than ¥3 million.",
"The components of net periodic retirement benefit costs for the ",
"years ended March 31, 2010 and 2009 were as follows:",
"The Companies Act requires that an amount equal to 10% of divi-",
"dends must be appropriated as a legal reserve (a component of ",
"retained earnings) or as additional paid-in capital (a component of ",
"capital surplus) depending on the equity account charged upon the ",
"payment of such dividends until the total of the aggregate amount ",
"of legal reserve and additional paid-in capital equals 25% of the ",
"common stock. Under the Companies Act, the total amount of ",
"additional paid-in capital and legal reserve may be reversed without ",
"limitation. The Companies Act also provides that common stock, ",
"legal reserve, additional paid-in capital, other capital surplus and ",
"retained earnings can be transferred among the accounts under ",
"certain conditions upon resolution of the shareholders.",
"The Companies Act also provides for companies to purchase trea-",
"sury stock and dispose of such treasury stock by resolution of the ",
"Board of Directors. The amount of treasury stock purchased ",
"cannot exceed the amount available for distribution to the share-",
"holders which is determined by a specific formula. Under the ",
" Companies Act, stock acquisition rights are presented as a sepa-",
"rate component of equity. The Companies Act also provides that ",
"companies can purchase both treasury stock acquisition rights and ",
"b.",
"Increases/Decreases and Transfer of Common Stock, ",
"Reserve and Surplus",
"c.",
"Treasury Stock and Treasury Stock Acquisition Rights",
"Note: Some consolidated subsidiaries adopt the simplified method when calculating ",
"retirement allowance liabilities.",
"Notes: 1. In addition to retirement allowance costs above, ¥2,442 million ($26,246 ",
"thousand) and ¥129 million for the years ended March 31, 2010 and 2009 ",
"were appropriated as special payments due to early retirement.",
"2.",
"Retirement allowance costs of consolidated subsidiaries using the simplified ",
"method are included in “Service cost.”",
"3.",
"“Other” represents the payment for a defined contribution pension plan.",
"JS Group Corporation",
"Annual Report 2010",
"71",
"a.",
"Dividends",
"Note: Actuarial gains and losses are immediately amortized as they arise.",
"2010",
"2009",
"Discount rate",
"1.5%–2.0%",
"2.0%",
"Expected rate of return on",
"plan assets",
"0.0%–2.0%",
"0.0%–2.0%",
"Recognition period of actuarial",
"gain/loss",
"(Note)",
"(Note)",
"10.",
"Retirement and Pension Plans",
"11.",
"Equity",
"Millions of Yen",
"Thousands of",
"U.S. Dollars",
"2010",
"2010",
"Cash and cash equivalents",
"¥ 2,844",
"$ 30,570",
"Land",
"17,883",
"192,207",
"Buildings and structures",
"10,056",
"108,079",
"Other",
"12",
"126",
"Investment securities",
"52",
"560",
"Total",
"¥30,847",
"$331,542",
"Millions of Yen",
"Thousands of",
"U.S. Dollars",
"2010",
"2009",
"2010",
"Projected benefit",
"obligation",
"¥ 67,361",
"¥ 65,729",
"$ 724,003",
"Fair value of plan",
"assets (including a",
"pension trust)",
"(64,205)",
"(63,103)",
"(690,075)",
"Prepaid pension",
"expense",
"7,845",
"8,908",
"84,314",
"Net liability",
"¥ 11,001",
"¥ 11,534",
"$ 118,242",
"Millions of Yen",
"Thousands of",
"U.S. Dollars",
"2010",
"2009",
"2010",
"Service cost",
"¥3,644",
"¥4,384",
"$39,166",
"Interest cost",
"1,235",
"1,469",
"13,271",
"Expected return on",
"plan assets",
"(57)",
"(184)",
"(615)",
"Recognized actuarial",
"gain",
"(17)",
"(637)",
"(181)",
"Loss (gain) on",
"transition to defined",
"contribution pension",
"plans from defined",
"benefit plans",
"(125)",
"757",
"(1,346)",
"Other",
"(see Note 3 below)",
"2,487",
"1,457",
"26,733",
"Net periodic",
"retirement benefit",
"costs",
"¥7,167",
"¥7,246",
"$77,028"
] | financial_reports |
|
[
"PART III",
"130",
"ITEM 11",
"Executive Compensation ........................................................................................................ 130",
"ITEM 12",
"Security Ownership of Certain Beneficial Owners and Management and Related",
"Stockholder Matters ............................................................................................................... 131",
"ITEM 13",
"Certain Relationships, Related Transactions and Director Independence ................................ 131",
"ITEM 14",
"Principal Accountant Fees and Services .................................................................................. 131",
"PART IV",
"132",
"ITEM 15",
"Exhibits and Financial Statement Schedules ........................................................................... 132",
"SIGNATURES",
"........................................................................................................................................... 133",
"INDEX TO FINANCIAL STATEMENT SCHEDULES",
".........................................................................FS-1",
"INDEX TO EXHIBITS",
".............................................................................................................................E-1",
"ITEM 10",
"Directors, Executive Officers and Corporate Governance ....................................................... 130",
"A.",
"Directors of the Registrant",
"................................................................................................",
"130",
"B.",
"Executive Officers of the Registrant",
".....................................................................................",
"130",
"C.",
"Code of Ethics and Other Corporate Governance Disclosures",
".....................................................",
"130"
] | financial_reports |
|
[
"MANAGEMENT’S DISCUSSION AND ANALYSIS",
"Income Taxes",
"Net Income and Earnings Per Share",
"2011 ANNUAL REPORT",
"33",
"Diluted earnings per share for 2011 include a net charge of",
"$.04 per share from net restructuring and non-recurring",
"items. Besides the restructuring charges of $336 million,",
"non-recurring items included approximately $152 million of",
"favorable pre-tax interest and income tax adjustments related",
"to the settlement of U.S. federal income tax refund claims for",
"years prior to 2004, approximately $109 million of net gains",
"resulting from Carrier’s ongoing portfolio transformation,",
"approximately $73 million gain recognized from the",
"contribution of a business into a new venture in the United",
"Arab Emirates at Sikorsky, approximately $66 million of",
"other-than-temporary impairment charges on an equity",
"investment at UTC Fire & Security, approximately $45 million",
"of reserves established for legal matters, a gain of",
"approximately $41 million recognized from the sale of an",
"equity investment at Pratt & Whitney, and a favorable tax",
"benefit of approximately $17 million as a result of a U.K. tax",
"rate reduction enacted in July 2011.",
"We estimate our full year annual effective income tax rate in",
"2012, excluding the impact of the acquisition of Goodrich, to",
"be approximately 29.5%, absent one-time adjustments and",
"contingent upon the release of valuation allowances resulting",
"from potential internal reorganizations. These internal",
"reorganizations are separate from the creation of the UTC",
"Climate, Controls & Security and the UTC Propulsion &",
"Aerospace Systems organizations as described above and",
"are a component of our ongoing efforts to improve business",
"efficiency. We anticipate variability in the tax rate quarter to",
"The 2009 effective income tax rate reflects approximately",
"$38 million of tax expense reductions relating to re-evaluation",
"of our liabilities and contingencies based on global",
"examination activity during the year including the Internal",
"Revenue Service’s (IRS) completion of 2004 and 2005",
"examination fieldwork and our related protest filing. As a",
"result of the global examination activity, we recognized",
"approximately $18 million of associated pre-tax interest",
"income adjustments during 2009.",
"The 2010 effective income tax rate reflects a non-recurring",
"tax expense reduction associated with management’s",
"decision to repatriate additional high tax dividends from 2010",
"earnings to the U.S. as a result of U.S. tax legislation enacted",
"in 2010. This was partially offset by the non-deductibility of",
"impairment charges, the adverse impact from the health care",
"legislation related to the Medicare Part D program and other",
"increases to UTC’s effective income tax rate.",
"The effective income tax rates for 2011, 2010 and 2009 reflect",
"tax benefits associated with lower tax rates on international",
"earnings, which we intend to permanently reinvest outside",
"the United States. The 2011 effective income tax rate",
"increased as compared to 2010, due to the absence of the",
"repatriation of highly taxed dividends which had a net",
"favorable impact in 2010. The 2011 effective tax rate reflects",
"approximately $63 million of favorable income tax",
"adjustments related to the settlement of two refund claims",
"for years prior to 2004, as well as a favorable tax impact of",
"$17 million related to a U.K. tax rate reduction enacted in 2011.",
"These favorable tax adjustments are partially offset by",
"non-deductible charges accrued in 2011.",
"Foreign currency translation, inclusive of the net hedging",
"impact at Pratt & Whitney Canada (P&WC) generated a net",
"positive impact of $.11 per diluted share on our operational",
"performance in 2011. At P&WC, the weakness of the",
"U.S. Dollar against the Canadian Dollar during 2011 generated",
"an adverse foreign currency translation impact as the",
"majority of P&WC’s sales are denominated in U.S. Dollars,",
"while a significant portion of its costs are incurred in local",
"currencies. To help mitigate the volatility of foreign currency",
"exchange rates on our operating results, we maintain foreign",
"currency hedging programs, the majority of which are",
"entered into by P&WC. As a result of hedging programs",
"currently in place, P&WC’s 2012 full year operating results are",
"expected to include a net adverse impact of foreign currency",
"translation and hedging of approximately $50 million. In 2010,",
"foreign currency generated a net positive impact on our",
"operational results of $.12 per diluted share while in 2009,",
"foreign currency had an adverse impact of $.22 per diluted",
"share. For additional discussion of foreign currency exposure,",
"see “Market Risk and Risk Management—Foreign Currency",
"Exposures.”",
"The weighted-average interest rate applicable to debt",
"outstanding at December 31, 2011 was 1.5% for short-term",
"borrowings and 5.6% for total debt as compared to 6.3% and",
"5.9%, respectively, at December 31, 2010. The decline in the",
"weighted-average interest rates for short-term borrowings",
"was due to the $455 million of commercial paper borrowings",
"outstanding at December 31, 2011, which carries favorable",
"interest rates. There were no commercial paper borrowings",
"outstanding at December 31, 2010. The three month LIBOR",
"rate as of December 31, 2011 was 0.6% and 0.3% as of both",
"December 31, 2010 and 2009.",
"For additional discussion of income taxes, see “Critical",
"Accounting Estimates—Income Taxes” and Note 10 to the",
"Consolidated Financial Statements.",
"quarter with lower rates likely to occur in the second half of",
"2012, primarily due to the realization of tax benefits",
"associated with these potential internal reorganizations,",
"which, if completed, would be recognized in the second half",
"of 2012.",
"(Dollars in millions, except per share amounts)",
"2011",
"2010",
"2009",
"Net income",
"$5,374",
"$ 4,711",
"$ 4,179",
"Less: Noncontrolling interest in subsidiaries’",
"earnings",
"395",
"338",
"350",
"Net income attributable to common",
"shareowners",
"$4,979",
"$4,373",
"$3,829",
"Diluted earnings per share",
"$ 5.49",
"$ 4.74",
"$ 4.12",
"2011",
"2010",
"2009",
"Effective income tax rate",
"29.3%",
"27.9%",
"27.4%"
] | financial_reports |
|
[
"Table of Contents",
"Sales and Revenues by Segment",
"Sales and Revenues by Geographic Region",
" Includes revenues from Machinery, Energy & Transportation of $362 million and $524 million in 2020 and 2019, respectively.",
"1",
"North America",
"Latin America",
"EAME",
"Asia/Pacific",
"External Sales and",
"Revenues",
"Inter-Segment",
"Total Sales and",
"Revenues",
"(Millions of dollars)",
"$",
"% Chg",
"$",
"% Chg",
"$",
"% Chg",
"$",
"% Chg",
"$",
"% Chg",
"$",
"% Chg",
"$",
"% Chg",
"2020",
"Construction Industries",
"$",
"7,365 ",
"(36%)",
"$",
"1,031 ",
"(33%)",
"$",
"3,466 ",
"(14%)",
"$",
"5,014 ",
"(10%)",
"$",
"16,876 ",
"(25%)",
"$",
"42 ",
"(55%)",
"$",
"16,918 ",
"(25 %)",
"Resource Industries",
"2,286 ",
"(37%)",
"1,253 ",
"(18%)",
"1,570 ",
"(14%)",
"2,337 ",
"(17%)",
"7,446 ",
"(24%)",
"460 ",
"(1%)",
"7,906 ",
"(23 %)",
"Energy & Transportation",
"6,843 ",
"(23%)",
"932 ",
"(33%)",
"4,448 ",
"(11%)",
"2,441 ",
"(25%)",
"14,664 ",
"(21%)",
"2,806 ",
"(22%)",
"17,470 ",
"(21 %)",
"All Other Segment",
"27 ",
"8%",
"4 ",
"(43%)",
"26 ",
"(7%)",
"56 ",
"(16%)",
"113 ",
"(11%)",
"354 ",
"(5%)",
"467 ",
"(7 %)",
"Corporate Items and Eliminations",
"(62)",
"(4)",
"(6)",
"(5)",
"(77)",
"(3,662)",
"(3,739)",
"Machinery, Energy & Transportation",
"16,459 ",
"(31%)",
"3,216 ",
"(28%)",
"9,504 ",
"(12%)",
"9,843 ",
"(16%)",
"39,022 ",
"(23%)",
"— ",
"—%",
"39,022 ",
"(23 %)",
"Financial Products Segment",
"1,930 ",
"(14%)",
"257 ",
"(14%)",
"392 ",
"(4%)",
"465 ",
"(5%)",
"3,044 ",
"(11%)",
"— ",
"—%",
"3,044 ",
"(11 %)",
"Corporate Items and Eliminations",
"(175)",
"(41)",
"(38)",
"(64)",
"(318)",
"— ",
"(318)",
"Financial Products Revenues",
"1,755 ",
"(12%)",
"216 ",
"(13%)",
"354 ",
"(5%)",
"401 ",
"(5%)",
"2,726 ",
"(10%)",
"— ",
"—%",
"2,726 ",
"(10 %)",
"Consolidated Sales and Revenues",
"$",
"18,214 ",
"(29%)",
"$",
"3,432 ",
"(27%)",
"$",
"9,858 ",
"(12%)",
"$",
"10,244 ",
"(15%)",
"$",
"41,748 ",
"(22%)",
"$",
"— ",
"—%",
"$",
"41,748 ",
"(22 %)",
"2019",
"Construction Industries",
"$",
"11,455 ",
"$",
"1,533 ",
"$",
"4,012 ",
"$",
"5,556 ",
"$",
"22,556 ",
"$",
"93 ",
"$",
"22,649 ",
"Resource Industries",
"3,632 ",
"1,533 ",
"1,836 ",
"2,812 ",
"9,813 ",
"463 ",
"10,276 ",
"Energy & Transportation",
"8,864 ",
"1,389 ",
"4,994 ",
"3,238 ",
"18,485 ",
"3,612 ",
"22,097 ",
"All Other Segment",
"25 ",
"7 ",
"28 ",
"67 ",
"127 ",
"373 ",
"500 ",
"Corporate Items and Eliminations",
"(192)",
"— ",
"(20)",
"(14)",
"(226)",
"(4,541)",
"(4,767)",
"Machinery, Energy & Transportation",
"23,784 ",
"4,462 ",
"10,850 ",
"11,659 ",
"50,755 ",
"— ",
"50,755 ",
"Financial Products Segment",
"2,235 ",
"299 ",
"408 ",
"492 ",
"3,434 ",
"— ",
"3,434 ",
"Corporate Items and Eliminations",
"(234)",
"(51)",
"(35)",
"(69)",
"(389)",
"— ",
"(389)",
"Financial Products Revenues",
"2,001 ",
"248 ",
"373 ",
"423 ",
"3,045 ",
"— ",
"3,045 ",
"Consolidated Sales and Revenues",
"$",
"25,785 ",
"$",
"4,710 ",
"$",
"11,223 ",
"$",
"12,082 ",
"$",
"53,800 ",
"$",
"— ",
"$",
"53,800 ",
"1",
"1",
"(Millions of dollars)",
"2019",
"Sales",
"Volume",
"Price",
"Realization",
"Currency",
"Inter-",
"Segment /",
"Other",
"2020",
"$",
"Change",
"%",
"Change",
"Construction Industries",
"$",
"22,649 ",
"$",
"(5,154)",
"$",
"(399)",
"$",
"(127)",
"$",
"(51)",
"$",
"16,918 ",
"$",
"(5,731)",
"(25 %)",
"Resource Industries",
"10,276 ",
"(2,204)",
"(81)",
"(82)",
"(3)",
"7,906 ",
"(2,370)",
"(23 %)",
"Energy & Transportation",
"22,097 ",
"(3,827)",
"43 ",
"(37)",
"(806)",
"17,470 ",
"(4,627)",
"(21 %)",
"All Other Segment",
"500 ",
"(14)",
"— ",
"— ",
"(19)",
"467 ",
"(33)",
"(7 %)",
"Corporate Items and Eliminations",
"(4,767)",
"146 ",
"2 ",
"1 ",
"879 ",
"(3,739)",
"1,028 ",
"Machinery, Energy & Transportation",
"50,755 ",
"(11,053)",
"(435)",
"(245)",
"— ",
"39,022 ",
"(11,733)",
"(23 %)",
"Financial Products Segment",
"3,434 ",
"— ",
"— ",
"— ",
"(390)",
"3,044 ",
"(390)",
"(11 %)",
"Corporate Items and Eliminations",
"(389)",
"— ",
"— ",
"— ",
"71 ",
"(318)",
"71 ",
"Financial Products Revenues",
"3,045 ",
"— ",
"— ",
"— ",
"(319)",
"2,726 ",
"(319)",
"(10 %)",
"Consolidated Sales and Revenues",
"$",
"53,800 ",
"$",
"(11,053)",
"$",
"(435)",
"$",
"(245)",
"$",
"(319)",
"$",
"41,748 ",
"$",
"(12,052)",
"(22 %)",
"31"
] | financial_reports |
|
[
"only to remittances involving a conversion between New Taiwan dollars and U.S. dollars or other foreign currencies. ",
"The discussion below describes the principal Republic of China tax consequences of the ownership and disposition of ADSs ",
"representing common shares and of common shares. It applies to you only if you are: ",
"You should also consult your tax advisors concerning the tax consequences of owning ADSs and common shares in the ",
"Republic of China and any other relevant taxing jurisdiction to which they are subject. ",
"Dividends declared by us out of our retained earnings and distributed to you are subject to Republic of China withholding ",
"tax, currently at the rate of 20%, on the amount of the distribution in the case of cash dividends or on the par value of the common ",
"shares in the case of stock dividends. However, a 10% Republic of China retained earnings tax paid by us on our undistributed after-",
"tax earnings, if any, may provide a credit of up to 10% of the gross amount of any dividends declared out of such earnings that would ",
"reduce the 20% Republic of China withholding tax imposed on these distributions. ",
"Share or cash dividends paid by us out of our capital surplus which are derived from the issuance of shares at a premium are ",
"not subject to Republic of China withholding tax. According to the rulings of Ref. Tai-Tsai-Hsuei-Tzi-09504509440 issued by the ",
"Ministry of Finance of the Republic of China, if a company reduces its share capital and redeems for cash its outstanding common ",
"shares issued to the company’s stockholders by capitalization of capital surplus, those premiums under the capitalized capital surplus ",
"derived from re-evaluation of assets, sale of lands and/or merger with other enterprise shall be deemed as the gain in the stockholders’ ",
"capital investment, and shall be deemed as stockholders’ dividend income (or investment revenue) and be subject to R.O.C income ",
"tax.",
"As the legal reserve is set-aside from company’s profit earnings (after tax) in accordance with Article 237 of R.O.C ",
"Company Act, receipt of distribution of legal reserve shall be deemed as stockholders’ dividend income (or investment revenue) and ",
"be subject to R.O.C income tax collected by way of withholding at the time of distribution, currently at the rate of 20%, unless a ",
"lower withholding rate is provided under a tax treaty between the R.O.C and the jurisdiction where the Non-R.O.C Stockholder is a ",
"resident.",
"Gains from the sale of property in the Republic of China are generally subject to Republic of China income tax. Under the ",
"current Republic of China law, capital gains on securities transactions (including sale of common stock) are exempt from income tax ",
"but subject to Income Basic Tax (alternatively known as the Alternative Minimum Tax) assessment at the rate of: ",
"115",
"● ",
"10% of the gains realized if you are an entity that is not a natural person and have a fixed place of business or business agent ",
"in the Republic of China. ",
"● ",
"20% of the gains realized if you are a natural person residing in the Republic of China; or ",
"● ",
"a corporation or a non-corporate body that is organized under the laws of a jurisdiction other than the Republic of China for ",
"profit-making purposes and has no fixed place of business or other permanent establishment in Taiwan. ",
"● ",
"an individual who is not a citizen of the Republic of China, who owns ADSs or common shares and who is not physically ",
"present in Taiwan for 183 days or more during any calendar year; or ",
"E.",
"Taxation",
"Republic of China Taxation",
"Dividends",
"Capital Gains",
"P",
"AR",
"T",
"I"
] | financial_reports |
|
[
"St Barbara Mines Limited Annual Report 2004",
"Notes to the Financial Statements ",
"for the year ended 30 June 2004",
"Movements in each class of provision during the ",
"fi",
" nancial year, other than employee bene",
"fi",
" ts, are set out below:",
"Movements in Provisions",
"Consolidated",
"Company",
"30",
"June 2004",
"$’000",
"30",
"June 2003",
"$’000",
"30",
"June 2004",
"$’000",
"30",
"June 2003",
"$’000",
"17.",
"PROVISIONS",
"Current",
"Employee bene",
"fi",
" ts",
"751",
"771",
"751",
"771",
"Directors’ retirement bene",
"fi",
" ts",
"-",
"98",
"-",
"98",
"Surplus leased space",
"-",
"29",
"-",
"29",
"751",
"898",
"751",
"898",
"Non-Current",
"Employee bene",
"fi",
" ts",
"78",
"180",
"78",
"180",
"Rehabilitation",
"4,191",
"3,696",
"4,191",
"3,696",
"4,269",
"3,876",
"4,269",
"3,876",
"Directors’ ",
"retirement ",
"bene",
"fi",
" ts ",
"$’000",
"Surplus",
"leased ",
"space",
"$’000",
"Total",
"$’000",
"Consolidated and Company",
"Current",
"Carrying amount at start of the year",
"98",
"29",
"127",
"Payments made",
"-",
"(29)",
"(127)",
"Written off",
"(98)",
"-",
"-",
"Carrying amount at end of the year",
"-",
"-",
"Rehabilitation",
"$’000",
"Total",
"$’000",
"Non-Current",
"Carrying amount at start of the year",
"3,696",
"3,696",
"Additional provision made",
"495",
"495",
"Carrying amount at end of the year",
"4,191",
"4,191"
] | financial_reports |
|
[
"(Continued) ",
"(In Millions of New Taiwan or U.S. Dollars, Except Shares Data and Par Value) ",
"CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES ",
"CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY ",
"F-10",
"Equity",
"Attributable",
"to Stockholders of the Par",
"ent",
"Capital",
"Stock ",
"(NT$10",
"Per",
"Value)",
"Common",
"Stock",
"Preferred",
"Stock",
"Retained ",
"Earnings",
"Shares ",
"(Thousands)",
"Amount",
"Shares ",
"(Thousands)",
"Amount",
"Additional ",
"Paid-in ",
"Capital",
"Legal",
"Reserve",
"Special ",
"Reserve",
"Unappropriated ",
"Earnings",
"NT$",
"NT$",
"NT$",
"NT$",
"NT$",
"NT$",
"BALANCE, DECEMBER 31, 2009",
"9,696,808",
"96,968",
"—",
"—",
"169,510",
"56,987",
"2,676",
"43,750",
"Appropriation of 2009 earnings",
"Legal reserve",
"—",
"—",
"—",
"—",
"—",
"4,374",
"—",
"(4,374)",
"Cash dividend - NT$4.06 per share",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"(39,369)",
"Decrease in minority interests",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"Capital reduction (Note 23)",
"(1,939,361)$^{(19,394)}$",
"—",
"—",
"—",
"—",
"—",
"—",
"Consolidated net income in 2010",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"47,609",
"Equity adjustments in investees",
"—",
"—",
"—",
"—",
"5",
"—",
"—",
"—",
"Cumulative translation adjustment for foreign-currency investments held by investees",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"Defined benefit pension plan adjustments of investees",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"Unrealized gain on financial instruments",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"—",
"BALANCE, DECEMBER 31, 2010",
"7,757,447",
"77,574",
"—",
"$",
"—",
"$",
"169,515",
"$",
"61,361",
"$",
"2,676",
"$",
"47,616",
"BALANCE, DECEMBER 31, 2010 (IN MILLIONS OF US$ - Note 3)",
"$",
"2,662",
"$",
"—",
"$",
"5,817",
"$",
"2,106",
"$",
"92",
"$",
"1,634"
] | financial_reports |
|
[
"The Year in Review",
"having completed my first full year as ",
"cEO, I am even more encouraged by the ",
"potential of Powell Industries. During ",
"this past year, I found a solid company ",
"with unique capability to design and ",
"deliver high end, complex electrical ",
"power solutions. I was impressed ",
"with the rich culture and deep values ",
"of Powell, underlying dedicated ",
"teams serving our customers and an ",
"unrelenting drive to succeed.",
"The challenge before us is to continue the success story, building ",
"upon our core strengths, and preparing the company for the next ",
"level of growth and performance. We have been implementing the ",
"first steps of this process over the past year all while delivering a ",
"solid level of financial and operational performance. ",
"Powell enjoyed record orders during 2013, allowing us to start ",
"2014 with a very solid and near all-time high backlog. This growth ",
"is largely driven by oil and gas capital investment, primarily in ",
"North America. Fueling this demand are large capital investments ",
"in the oil sands of Canada and in U.S. shale gas production that ",
"have lowered the cost of natural gas in North America and made ",
"domestic investment more attractive.",
"We have invested nearly $100 million into new facilities and ",
"infrastructure to strengthen the core business. We completed the ",
"construction of two new production facilities this past year that ",
"will provide the capacity and expansion room needed to serve our ",
"growing North American markets. As of today our new 300,000 ",
"square foot facility in Houston, Texas is complete and operational, ",
"as is our 180,000 square foot manufacturing facility outside ",
"Edmonton, Alberta, Canada. Upgraded business systems and ",
"tools, to be fully implemented in 2014, will help drive additional ",
"process improvements and increase productivity in engineering, ",
"project management and production. ",
"2"
] | financial_reports |
|
[
"Table of Contents",
"CITIZENS, INC.",
"SEGMENT OPERATIONS",
"December 31, 2019 | 10-K 37",
"Years ended December 31,",
"(In thousands)",
"2019",
"2018",
"2017",
"Income (Loss) Before Federal Income Taxes:",
"Segments:",
"Life Insurance",
"$",
"11,795",
"12,085",
"5,394",
"Home Service Insurance",
"1,181",
"(2,496)",
"(5,599)",
"Total Segments",
"12,976",
"9,589",
"(205)",
"Other Non-Insurance Enterprises",
"(7,231)",
"(7,587)",
"(2,781)",
"Total income (loss) before federal income taxes",
"$",
"5,745",
"2,002",
"(2,986)",
"Years Ended December 31,",
"2019",
"2018",
"Amount of",
"Insurance",
"Issued",
"Number of",
"Policies",
"Issued",
"Average Policy",
"Face Amount",
"Issued",
"Amount of",
"Insurance",
"Issued",
"Number of",
"Policies",
"Issued",
"Average Policy",
"Face Amount",
"Issued",
"Life Insurance",
"$",
"233,503,780",
"3,456",
"$",
"67,565",
"$",
"231,142,212",
"3,786",
"$",
"61,052",
"Home Service Insurance",
"158,758,921",
"22,148",
"7,168",
"171,188,227",
"24,308",
"7,042",
"•",
"Life Insurance",
"•",
"Home Service Insurance",
"Our business is comprised of two operating business segments, as detailed below.",
"Our insurance operations are the primary focus of the Company, as those operations generate most of our income.",
"The amount of insurance,",
"number of policies issued, and average face amounts of policies issued during the periods indicated are shown below.",
"The number of policies issued decreased 8.7% and 8.9% for the Life Insurance and Home Service Insurance segments in 2019 and 2018,",
"respectively. The decline in the number of new business applications in our Life Insurance segment is driven by ceasing sales in Brazil and",
"terminating agreements with several independent consultants in Latin America who did not align with our vision, values and culture. Excluding",
"these two factors, the number of policies issued by our international business increased during 2018 and 2019 as we invested heavily in our sales",
"and marketing activities and achieved better alignment with our independent consultants on vision, value and strategy.",
"While the number of",
"policies issued has declined in the Life Insurance and Home Service Insurance segments during 2019, the average face amount issued has",
"increased, resulting in overall premium income not declining at the same rate as policy issuances.",
"These segments are reported in accordance with U.S. GAAP.",
"The Company evaluates profit and loss performance based on net income before",
"federal income taxes."
] | financial_reports |
|
[
"We have a broad customer base in Taiwan. ",
"We are an integrated full-service telecommunications provider in Taiwan. ",
"We are the largest telecommunications service provider in Taiwan with a broad customer base across all of ",
"our service offerings. Despite deregulation and an increase in competition in the Taiwanese telecommunications ",
"industry, we have maintained a market leading position in our primary service offerings of fixed communications, ",
"mobile communications and internet services. We believe our broad customer base in each of our service ",
"offerings grants us a distinct competitive advantage to maintain our existing customers and attract new ",
"customers and increases the chance of success for the launch and popularization of new products. As the ",
"telecommunications industry continues its trend of converging fixed communications, mobile communications ",
"and internet services, we believe that our comprehensive service offerings places us in a strong position to offer ",
"converged products and services to our customers. ",
"We are the largest telecommunications service provider in Taiwan with a leading position in fixed ",
"communications services, mobile communications services and internet services. ",
"Broad range of communications products and services",
". We believe that our ability to provide an attractive ",
"and comprehensive range of telecommunications services positions us to provide bundled and value-added ",
"services to our business and residential customers. In addition, we are able to offer innovative integrated services ",
"and tariff packages to meet the specific needs of our customers. ",
"Broad network coverage",
". The breadth of our network and our ownership of the so called “last mile” ",
"infrastructure in Taiwan, which comprises the connection between the local telephone service provider’s ",
"switching centers to the end-users’ buildings or homes, provide us with access to existing and potential customers ",
"and creates a platform for expanding our services. As of December 31, 2010, substantially all of our installed ",
"telephone lines were capable of delivering ADSL services and network coverage of ADSL was approximately ",
"97%. In order to provide higher bandwidth services for our customers, we are constructing our FTTx network. As ",
"of December 31, 2010, network coverage of FTTx with speed of 30Mbps was approximately 79.3%. In addition, ",
"our mobile communications network provides nationwide coverage. Our large cellular spectrum allocation ",
"together with our network of 16,215 base stations position us well for the continued expansion of our mobile ",
"services in Taiwan. ",
"Brand awareness, distribution channels and customer service",
". Our principal brands “Chunghwa Telecom” ",
"and “HiNet” have a reputation for quality, reliability and sophisticated technology. In particular, we are the ",
"leading internet service provider in Taiwan through HiNet. We serve our large and well-established customer base ",
"through our extensive customer service network in Taiwan, including 23 operations offices, 313 service centers, ",
"221 exclusive service stores and six customer service centers. We also offer comprehensive and high-quality ",
"point of sale and after sale services, and we provide web-based customer services. Moreover, our extensive ",
"sales and distribution channels help us attract additional customers and develop new business opportunities. In ",
"2010, we obtained several domestic and international awards which recognized our service quality, corporate ",
"governance and corporate social responsibility. In the Reader’s Digest Trusted Brands Award, we have stood out ",
"and won the Platinum Award of Telecom Company in Taiwan for seven consecutive years since 2004. We were ",
"awarded “Best Managed Company,” “Best Corporate Governance, “Best Corporate Social Responsibility” and ",
"“Best Commitment to Strong Dividends” in Taiwan by FinanceAsia. We were also awarded the “Excellence in ",
"Corporate Social Responsibility Award” by the Common Wealth Magazine, “Excellent Service Award 2010” by ",
"Global Views, “Best Corporate Governance and Disclosure” in the Greater China Awards 2010 by IR Magazine, ",
"and “Excellence for Financial Disclosure Procedures” in Asia Pacific by IR Global Rankings. ",
"Operational expertise",
". Our management and employees have extensive operating experience and technical ",
"knowledge, which we believe cannot be easily replicated by competitors. We also believe we will continue to ",
"attract and retain high quality employees. ",
"Comprehensive customer billing infrastructure",
". As Taiwan’s leading telecommunications services provider, ",
"we have extensive resources and infrastructure relating to billing services. In particular, we issue, in the ",
"aggregate, approximately 17 million invoices, including integrated bills, every month. We intend to continue ",
"taking advantage of this unique attribute by offering bill collection services to internet content providers and ",
"other entities that lack the necessary resources and infrastructure for effective customer billing. ",
"18",
"PART",
"I"
] | financial_reports |
|
[
"102",
"*",
"Minimum future lease payments includes the aggregate of all lease payments and any guaranteed residual.",
"2012 ",
"$m",
"2011 ",
"$m",
"Note 38 – Capital and other expenditure commitments",
"Capital expenditure commitments",
"Property, plant and equipment",
"No longer than one year",
"28.8 ",
"89.3 ",
"Longer than one year and not longer than five years ",
"9.2 ",
"5.4 ",
"Longer than five years ",
"– ",
"– ",
"38.0 ",
"94.7 ",
"Consolidated entity’s share of joint venture operations capital commitments",
"No longer than one year",
"94.0 ",
"343.8 ",
"Longer than one year and not longer than five years ",
"7.8 ",
"88.2 ",
"Longer than five years ",
"– ",
"– ",
"101.8 ",
"432.0 ",
"Consolidated entity’s share of associates’ and jointly controlled entities’ capital commitments",
"No longer than one year",
"115.7 ",
"2.3 ",
"Longer than one year and not longer than five years ",
"20.5 ",
"– ",
"Longer than five years ",
"– ",
"– ",
"136.2 ",
"2.3 ",
"Other expenditure commitments",
"Exploration and evaluation expenditure",
"No longer than one year",
"0.5 ",
"6.8 ",
"Longer than one year and not longer than five years ",
"2.3 ",
"– ",
"Longer than five years ",
"2.3 ",
"– ",
"5.1 ",
"6.8 ",
"Consolidated entity’s share of joint venture operations other expenditure commitments",
"No longer than one year",
"1.4 ",
"4.4 ",
"Longer than one year and not longer than five years ",
"– ",
"– ",
"Longer than five years ",
"– ",
"– ",
"1.4 ",
"4.4 ",
"Other – Information technology services",
"No longer than one year",
"40.8 ",
"37.3 ",
"Longer than one year and not longer than five years ",
"78.8 ",
"70.7 ",
"Longer than five years ",
"– ",
"6.8 ",
"119.6 ",
"114.8",
"Note 39 – Lease commitments",
"Finance lease liabilities",
"Minimum",
"future lease",
"payments",
"2012 ",
"$m ",
"Present",
"value of",
"payments",
"2012 ",
"$m ",
"Minimum",
"future lease",
"payments",
"2011 ",
"$m ",
"Present",
"value of",
"payments",
"2011 ",
"$m ",
"No longer than one year",
"1.7 ",
"1.5 ",
"– ",
"– ",
"Longer than one year and not longer than five years ",
"2.0 ",
"1.8 ",
"0.3 ",
"– ",
"Longer than five years ",
"178.4 ",
"12.7 ",
"178.4 ",
"11.9 ",
"Minimum future lease payments*",
"182.1 ",
"16.0 ",
"178.7 ",
"11.9 ",
"Less future finance charges",
"(166.1)",
"–",
"(166.8)",
"– ",
"Present value of minimum lease payments",
"16.0 ",
"16.0 ",
"11.9 ",
"11.9 ",
"Included in the financial statements as:",
"Current borrowings (Note 26)",
"1.5 ",
"– ",
"Non-current borrowings (Note 28)",
"14.5 ",
"11.9 ",
"16.0 ",
"11.9",
"Consolidated ",
"Notes to the ",
"Financial ",
"Statements"
] | financial_reports |
|
[
"Independent Auditor’s Report",
"Core Canadian Dividend Trust",
"[cdd.un]",
"9",
"Annual Report 2010",
"To the Unitholders of Core Canadian Dividend Trust",
"We have audited the accompanying financial statements of Core Canadian Dividend",
"Trust, which comprise the statement of investments as at December 31, 2010, the",
"statements of net assets as at December 31, 2010 and 2009, and the statements of",
"financial operations, of changes in net assets and net gain (loss) on sale of investments",
"for the years then ended, and a summary of significant accounting policies and other",
"explanatory information.",
"Management is responsible for the preparation and fair presentation of these financial",
"statements in accordance with Canadian generally accepted accounting principles, and",
"for such internal control as management determines is necessary to enable the",
"preparation of financial statements that are free from material misstatement, whether",
"due to fraud or error.",
"Our responsibility is to express an opinion on these financial statements based on our",
"audits. We conducted our audits in accordance with Canadian generally accepted",
"auditing standards. Those standards require that we comply with ethical requirements",
"and plan and perform the audit to obtain reasonable assurance about whether the",
"financial statements are free from material misstatement.",
"An audit involves performing procedures to obtain audit evidence about the amounts",
"and disclosures in the financial statements. The procedures selected depend on the",
"auditor's judgment, including the assessment of the risks of material misstatement of",
"the financial statements, whether due to fraud or error. In making those risk assess-",
"ments, the auditor considers internal control relevant to the entity's preparation and fair",
"presentation of the financial statements in order to design audit procedures that are",
"appropriate in the circumstances, but not for the purpose of expressing an opinion on",
"the effectiveness of the entity's internal control. An audit also includes evaluating the",
"appropriateness of accounting policies used and the reasonableness of accounting",
"estimates made by management, as well as evaluating the overall presentation of the",
"financial statements.",
"We believe that the audit evidence we have obtained in our audits is sufficient and",
"appropriate to provide a basis for our audit opinion.",
"In our opinion, the financial statements present fairly, in all material respects, the",
"financial position of Core Canadian Dividend Trust as at December 31, 2010 and 2009,",
"and the results of its operations and its changes in the net assets for the years then",
"ended in accordance with Canadian generally accepted accounting principles.",
"Opinion",
"Auditor's Responsibility",
"Management's Responsibility for the Financial Statements",
"Chartered Accountants",
"Licensed Public Accountants",
"March 2, 2011",
"Toronto, Ontario"
] | financial_reports |
|
[
"There’s no identity",
"crisis here. Because",
"we do one thing,",
"and we continue to",
"do it better than",
"anyone else."
] | financial_reports |
|
[
"96",
"7.",
"DEFERRED CHARGES",
"(thousands of Canadian dollars)",
"2000",
"1999",
"Accumulated",
"Accumulated",
"Cost",
"amortization",
"Cost",
"amortization",
"Financing costs and credit facility arrangement fees",
"7,963",
"995",
"–",
"–",
"Foreign exchange gains on translating ",
"long-term debt",
"4,678",
"–",
"–",
"–",
"Start-up costs of new specialty ",
"programming networks",
"4,289",
"1,489",
"4,089",
"667",
"Other",
"743",
"135",
"–",
"–",
"17,673",
"2,619",
"4,089",
"667",
"Net book value",
"15,054",
"3,422",
"Amortization provided in the accounts on deferred charges amounted to $1,952,000",
"(1999–$667,000; 1998–nil).",
"8.",
"BROADCAST LICENSES AND GOODWILL",
"(thousands of Canadian dollars)",
"2000",
"1999",
"Accumulated",
"Accumulated",
"Cost",
"amortization",
"Cost",
"amortization",
"Broadcast licenses",
"454,755",
"37,550",
"271,633",
"29,009",
"Goodwill",
"343,418",
"2,890",
"–",
"–",
"798,173",
"40,440",
"271,633",
"29,009",
"Net book value",
"757,733",
"242,624",
"Amortization provided in the accounts on broadcast licenses and goodwill amounted",
"to $11,431,000 (1999 – $6,775,000; 1998 – $6,774,000)."
] | financial_reports |
|
[
"Sales and marketing is one area where we have increased our commitment to providing superior support and service. ",
"We have responded with initiatives that build awareness of the CI brand, and with a significant expansion of events and ",
"communication efforts that deepen our connections to our clients. In 2012, these initiatives included:",
"In a recent report on the state of the investment fund industry, Investor Economics noted that fewer than half of the ",
"companies in our industry reported positive net inflows in 2012. Notably, this occurred in a year when global equity ",
"markets experienced double-digit returns and the Canadian fund industry as a whole reported approximately $30 billion ",
"in net sales. In fact, the research firm says, the percentage of companies in net redemptions increased to 54% from 38% ",
"over the past two years. ",
"13",
"OUTLOOK",
"",
"The hiring of a highly qualified wealth management expert to provide tax, estate planning and other wealth planning ",
"information to advisors.",
"",
"Expanded communications between our portfolio managers and advisors through online platforms such as podcasts, ",
"videocast and online presentations. And, in February 2013, Cambridge Advisors started CI’s first portfolio managers’ blog. ",
"These efforts complement our more traditional written commentaries and in-person events such as dealer branch meetings. ",
"",
"The launch of the Monthly Review, a newsletter for advisors that contains information about our funds in an eye-",
"catching newspaper format.",
"",
"Two digital roadshows, in which our portfolio managers participated in a full afternoon of webcast presentations.",
"",
"Three national roadshows, in which portfolio management teams presented to advisors in cities from coast to coast.",
"",
"Our second annual Leadership Forum, a three-day conference in Las Vegas that was attended by approximately ",
"800 advisors. Our portfolio managers and CI employees provided extensive information about the markets and our ",
"investment products. We believe that the Leadership Forum has become one of the most highly regarded educational ",
"events in our industry and the 2013 edition is scheduled for October in Los Angeles.",
"",
"A national advertising campaign for CI Investments with commercials airing on television, radio and websites during the ",
"critical RRSP season. The commercials emphasized CI’s attributes of size, experience, expertise, and a strong product ",
"lineup and ended with the message: “CI – Canada’s Investment Company.” With the success of this initiative, we ",
"instituted a similar campaign with even broader reach in early 2013. "
] | financial_reports |
|
[
"65",
"Results 2012 New Markets",
"Amounts in EUR millions",
"2012",
"2011",
"%",
"Net underlying earnings",
"185",
"184",
"1%",
"Tax on underlying earnings",
"89",
"65",
"37%",
"Underlying earnings before tax by product segment",
"Central & Eastern Europe",
"85",
"96",
"(11%)",
"Asia",
"19",
"(4)",
"-",
"Spain and France",
"69",
"88",
"(22%)",
"Variable Annuities Europe",
"-",
"9",
"-",
"Aegon Asset Management",
"101",
"60",
"68%",
"Underlying earnings before tax",
"274",
"249",
"10%",
"Net fair value items",
"(1)",
"(30)",
"97%",
"Gains / (losses) on investments",
"10",
"7",
"43%",
"Impairment charges",
"(26)",
"(61)",
"57%",
"Other income / (charges)",
"113",
"7",
"-",
"Income before tax (excluding income tax from certain proportionately consolidated joint ",
"ventures and associates)",
"370",
"172",
"115%",
"Income tax from certain proportionately consolidated joint ventures and associates included in ",
"income before tax",
"15",
"8",
"88%",
"Income tax",
"(121)",
"(61)",
"(98%)",
"Of which Income tax from certain proportionately consolidated joint ventures and associates ",
"included in income before tax",
"(15)",
"(8)",
"(88%)",
"Net income",
"249",
"111",
"124%",
"Life insurance gross premiums",
"1,374",
"1,600",
"(14%)",
"Accident and health insurance premiums",
"188",
"179",
"5%",
"General insurance premiums",
"144",
"149",
"(3%)",
"Total gross premiums",
"1,706",
"1,928",
"(12%)",
"Investment income",
"319",
"320",
"0%",
"Fees and commission income",
"524",
"469",
"12%",
"Other revenues",
"3",
"1",
"-",
"Total revenues",
"2,552",
"2,718",
"(6%)",
"Commissions and expenses",
"870",
"826",
"5%",
"of which operating expenses",
"613",
"577",
"6%",
"New life sales",
"Amounts in EUR millions",
"2012",
"2011",
"%",
"Central & Eastern Europe",
"114",
"110",
"4%",
"Asia",
"53",
"58",
"(9%)",
"Spain and France",
"86",
"143",
"(40%)",
"Total recurring plus 1/10 single",
"253",
"311",
"(19%)",
"Amounts in EUR million",
"2012",
"2011",
"%",
"New premium production accident and health insurance",
"42",
"34",
"24%",
"New premium production general insurance",
"25",
"25",
"-"
] | financial_reports |
|
[
"CHENIERE ENERGY, INC. AND SUBSIDIARIES",
"CONSOLIDATED BALANCE SHEETS",
"(in millions, except share data)",
"December 31,",
"2018",
"2017",
"ASSETS",
"Current assets",
"Cash and cash equivalents",
"$",
"981",
"$",
"722",
"Restricted cash",
"2,175",
"1,880",
"Accounts and other receivables",
"581",
"369",
"Accounts receivable—related party",
"4",
"2",
"Inventory",
"316",
"243",
"Derivative assets",
"63",
"57",
"Other current assets",
"114",
"96",
"Total current assets",
"4,234",
"3,369",
"Non-current restricted cash",
"—",
"11",
"Property, plant and equipment, net",
"27,245",
"23,978",
"Debt issuance costs, net",
"72",
"149",
"Non-current derivative assets",
"54",
"34",
"Goodwill",
"77",
"77",
"Other non-current assets, net",
"305",
"288",
"Total assets",
"$",
"31,987",
"$",
"27,906",
"LIABILITIES AND STOCKHOLDERS’ EQUITY",
"Current liabilities",
"Accounts payable",
"$",
"58",
"$",
"25",
"Accrued liabilities",
"1,169",
"1,078",
"Current debt",
"239",
"—",
"Deferred revenue",
"139",
"111",
"Derivative liabilities",
"128",
"37",
"Other current liabilities",
"9",
"—",
"Total current liabilities",
"1,742",
"1,251",
"Long-term debt, net",
"28,179",
"25,336",
"Non-current capital lease obligations",
"57",
"—",
"Non-current derivative liabilities",
"22",
"19",
"Other non-current liabilities",
"58",
"60",
"Commitments and contingencies (see Note 19)",
"Stockholders’ equity",
"Preferred stock, $0.0001 par value, 5.0 million shares authorized, none issued",
"—",
"—",
"Common stock, $0.003 par value",
"Authorized: 480.0 million shares at December 31, 2018 and 2017",
"Issued: 269.8 million shares and 250.1 million shares at December 31, 2018 and 2017, respectively",
"Outstanding: 257.0 million shares and 237.6 million shares at December 31, 2018 and 2017,",
"respectively",
"1",
"1",
"Treasury stock: 12.8 million shares and 12.5 million shares at December 31, 2018 and 2017,",
"respectively, at cost",
"(406",
")",
"(386",
")",
"Additional paid-in-capital",
"4,035",
"3,248",
"Accumulated deficit",
"(4,156",
")",
"(4,627",
")",
"Total stockholders’ deficit",
"(526)",
"(1,764)",
"Non-controlling interest",
"2,455",
"3,004",
"Total equity",
"1,929",
"1,240",
"Total liabilities and equity",
"$",
"31,987",
"$",
"27,906",
"The accompanying notes are an integral part of these consolidated financial statements.",
"64"
] | financial_reports |
|
[
"Integrated Logistics Solutions",
"Overview",
"Solution ",
"What’s Ahead",
"Manhattan Associates Annual Report 2003",
"13",
"At Manhattan Associates we are constantly working to increase the value we provide to our customers. Our",
"belief is that by looking at our customers’ supply chains from a business process standpoint rather than a pure",
"feature/function perspective, we will be able to more effectively identify opportunities for improvement.",
"Integrated Logistics Solutions represents a platform for supply chain execution, with a comprehensive set of",
"synchronized applications that can be implemented as an integrated whole or as individual point solutions.",
"When brought together as a whole, Integrated Logistics Solutions offers execution, synchronization and visibility",
"for both the forward and reverse supply chains. Included in the Integrated Logistics Solutions architecture are",
"capabilities for managing the entire supply chain ecosystem. This includes all partners involved with the",
"movement of goods from source to consumption.",
"In 2004 Manhattan Associates will continue to focus on Integrated Logistics Solutions. We will leverage our",
"domain expertise in our key verticals to define industry-specific best practices and business processes. By taking",
"into account the challenges faced by each industry, we can better meet and anticipate our customers’ needs and",
"provide increased value.",
"E",
"v",
"e",
"n",
"t",
"M",
"a",
"n",
"a",
"g",
"e",
"m",
"e",
"n",
"t",
"P",
"e",
"r",
"f",
"o",
"r",
"m",
"a",
"nc",
"e",
"Ma",
"n",
"a",
"g",
"e$_{m}$",
"e",
"n",
"t",
"A",
"n",
"a",
"l",
"y",
"s",
"is",
"&",
"R",
"e",
"p",
"o",
"r",
"t",
"i",
"n",
"g",
"E",
"$^{n}$t",
"e",
"r",
"p",
"r",
"i",
"s",
"e",
"In",
"teg",
"rat",
"i",
"o",
"n",
"S",
"e",
"r",
"v",
"i",
"c",
"e",
"s",
"Distributed Order Management",
"Reverse Logistics Management",
"Appointment",
"Scheduling",
"Trading",
"Partner",
"Integration",
"Shipment",
"Manag",
"ement",
"Distribution",
"Stores/",
"Customers",
"Supplier",
"Enablement/",
"Visibility",
"Transportation",
"Planning &",
"Execution",
"Logistics",
"Hub",
"Management",
"Labor",
"Management/",
"Slotting",
"Optimization",
"Order",
"Visibility",
"Transportation",
"Procurement",
"Ya",
"rd/Dock",
"Management",
"Warehouse",
"Management",
"Order Entry",
"D",
"FID",
"RF",
"F",
"RFID",
"FROM ",
"SOURCE",
"TO",
"CONSUMPTION"
] | financial_reports |
|
[
"Corporate Self-Governance—",
"Our Commitment to Integrity",
"We at ATI are committed to a strong self-governance program. We have long-believed that honesty",
"and integrity are vitally important to the success of our Company. The Company’s Corporate",
"Governance Guidelines have been approved by the Board of Directors and, along with the charters ",
"of the Board committees, provide the framework for the governance of Allegheny Technologies.",
"These guidelines reflect the Board’s commitment to monitor the effectiveness of decision making at",
"the Board and management level, with a view to achieving ATI’s strategic objectives.The Guidelines",
"are available on our website, www.alleghenytechnologies.com.",
"Our Corporate Guidelines for Business Conduct and Ethics apply to all directors, officers and",
"employees and set forth clear standards to guide the conduct of our daily affairs. Our commitment ",
"is to reflect, in each of our actions, the highest level of integrity and ethics in our dealings with our",
"Board of Directors, stockholders, fellow employees, customers, suppliers, creditors, government ",
"agencies and authorities, and the public.",
"Our self-governance efforts incorporate long-standing training programs that address a myriad of ",
"subjects including antitrust, ethics, environmental compliance, export compliance and trading in ",
"securities, as well as training in various human resources issues, including safety.",
"In order to monitor the effectiveness of our compliance efforts, we consistently perform audits",
"throughout the organization to confirm adherence to Company policies and procedures and ",
"financial controls.",
"We understand that confidence in our Company is in large measure dependent upon the reliability",
"and transparency of our financial statements. Accordingly, our commitment to integrity in financial",
"reporting recognizes our responsibility for providing timely information that fairly reflects our financial",
"position and results of operations.",
"We encourage employees to communicate concerns before they become problems. Our corporate",
"ombudsman and the ethics officers at our operating companies provide confidential resources for",
"employees to surface their concerns without fear of reprisal. Building and maintaining trust, respect",
"and communication among our employees are essential to the effectiveness of our self-governance",
"program.",
"mee",
"A en",
"ey > ee"
] | financial_reports |
|
[
"IOOF",
" | Annual Report 2012",
"Capital risk management",
"page 99",
"Parent",
"2012",
"2011",
"No. ’000",
"$’000",
"No. ’000",
"$’000",
"Ordinary shares",
"On issue at 1 July",
"231,904 ",
"868,451 ",
"230,156 ",
"858,628 ",
"Adviser performance rights vested during the year (note 31)",
"-",
"427 ",
"46 ",
"453 ",
"Issue of shares on exercise of options under executive and",
"employee share option plan (note 31)",
"134 ",
"1,094 ",
"1,702 ",
"9,464 ",
"Employee performance rights vested during the year (note 31)",
"-",
"736 ",
"-",
"330 ",
"Transfer from employee equity-settled benefits reserve",
"on exercise of options (note 26)",
"-",
"444 ",
"-",
"1,049 ",
"Transfer of lapsed share options",
"-",
"-",
"-",
"(1,077)",
"Acquisition of treasury shares",
"-",
"(2,082)",
"-",
"(396)",
"On issue at 30 June",
"232,038 ",
"869,070 ",
"231,904 ",
"868,451 ",
"in respect of its life insurance business and financial services ",
"licensed operations. During the year, the Group has complied ",
"with all externally imposed capital requirements to which it is ",
"subject.",
"The Group’s and the Company’s objectives when managing ",
"capital is to safeguard their ability to continue as a going ",
"concern, so that they can continue to provide returns to ",
"shareholders and benefits to other stakeholders, and to ",
"maintain an optimal structure to reduce the cost of capital. ",
"In order to maintain or adjust the capital structure, the Group ",
"may adjust the amount of dividends paid to shareholders, ",
"return capital to shareholders, buy back its shares on market, ",
"issue new shares, sell assets, or otherwise adjust debt levels.",
"The Group and the Company monitor capital on the basis of ",
"investment capital, working capital and regulatory capital.",
"Investment capital is the Group’s capital that is not required for ",
"regulatory and working capital requirements of the business. ",
"The investment capital is invested in:",
"Each subsidiary manages its own capital required to support ",
"planned business growth and meet regulatory requirements. ",
"Australian Prudential Regulation Authority (APRA) regulated ",
"subsidiaries have their own capital management plan which ",
"specifically addresses the regulatory requirements of that ",
"entity and sets a target surplus over minimum regulatory ",
"requirements. Regular monitoring of regulatory requirements ",
"ensures sufficient capital is available and appropriate planning ",
"is made to retain target surpluses. IOOF Holdings Ltd is ",
"primarily the provider of equity capital to its subsidiaries. Such ",
"investment is funded by IOOF Holding Ltd’s own investment ",
"capital, through capital issues, profit retention and, in some ",
"instances, by debt.",
"Subsidiary capital generated in excess of planned requirements ",
"is returned to IOOF Holdings Ltd, usually by way of dividends. ",
"A standby facility is in place as a safeguard against a temporary ",
"need for funds and to provide a short term funding facility ",
"that allows the business to take advantage of acquisition ",
"opportunities as they arise.",
"The weighted average cost of capital is regularly monitored.",
"Funding decisions take into consideration the cost of debt ",
"versus the cost of equity with emphasis on the outcome that is ",
"best for shareholder interests. ",
"During 2012, the Group’s capital risk management strategy was ",
"unchanged from 2011.",
"Further information in relation to solvency requirements ",
"imposed by the Life Insurance Act is provided in note 40(h) Life ",
"Insurance Business – Solvency Requirements. ",
"Regulatory capital is the capital which the Group is required to ",
"hold as determined by legislative and regulatory requirements ",
"Working capital is the capital that is required to meet the day ",
"to day operations of the business.",
"The investment capital is available to support the organic ",
"development of new businesses and products and to respond ",
"to investment and growth opportunities such as acquisitions, ",
"as they arise. The seed capital is primarily available to support ",
"the business in establishing new products and is also used to ",
"support solvency requirements of the benefit funds. ",
"• ",
"bank bills and deposits;",
"• ",
"subsidiaries;",
"• ",
"available-for-sale assets;",
"• ",
"unit trusts, as investments; and",
"• ",
"Group operated unit trusts, as seed capital."
] | financial_reports |
|
[
"Cash-settled shaRe-based payments",
"112",
"HIGH lIneR FooDS InCoRpoRAteD",
"3.",
"A reduction to opening retained earnings of $0.2 million.",
"2.",
"A net deferred income tax asset of $0.1 million; and ",
"1.",
"An increase in bank loans of $0.3 million;",
"As at the transition date the Company recognized:",
"The Company’s accounting policy for debt issuance transaction costs include the costs incurred to obtain financings in the way of ",
"fees paid to agents, advisors, brokers and dealers, transfer taxes and duties. These transaction costs are and have been consistently ",
"reflected by the Company and its subsidiaries as a reduction in the carrying value of the associated financing obtained and amortized ",
"to interest expense using the effective interest method over the life of the debt consistent with the requirements of Canadian GAAP ",
"3855 and IAS 39. IAS 39 requires, however, that if an entity revises its estimates of payments or receipts with respect to the associated ",
"financings, the entity shall adjust the carrying amount of the financial asset to reflect actual and revised estimated cash flows. As a ",
"result, on transition to IFRS, the Company was required to estimate the Company’s expected future cash flows and as we do not ",
"anticipate to utilize the maximum credit available to the Company, the guidance with respect to an impairment of a financial asset ",
"under IFRS indicates that it is considered that we would have no remaining benefit from the deferred financing fees paid for a credit ",
"facility that is not being used (or proportionally not used) and as such this expenditure should no longer be capitalized. As a result, ",
"the Company made the following adjustments to record the impairment of deferred financing fees representing the pro rata share ",
"equal to the expected future unused portion of the working capital credit facility:",
"As at the transition date:",
"As a result, the Company was required to recognize the amount that had been deferred to other comprehensive income under ",
"Canadian GAAP as at the transition date relating to the over-hedged position as well as adjust for the ineffective portion of what was ",
"included in the Company’s accounting for the gain and loss in inventory that would not have otherwise flowed through income prior ",
"to the IFRS transition date. This resulted in the Company recognizing the following adjustments: ",
"Canadian GAAP permits any ineffectiveness resulting from when the hedged item is an anticipated transaction and the transaction ",
"does not occur by the end of the originally specified and documented time period but is considered highly probable to occur within an ",
"additional two-month period thereafter, that portion of ineffectiveness may be deferred in other comprehensive income until the ",
"anticipated transaction takes place. IFRS is consistent with Canadian GAAP with respect to permitting ineffectiveness being deferred ",
"into other comprehensive income with the exception that the delay in the anticipated transaction must be such that it occurs within ",
"a reasonably specific and generally narrow range of time, which, in practice, is considerably less than the two-month time period ",
"allowed under Canadian GAAP. ",
"The Company uses cash flow hedge accounting to account for foreign exchange contracts, which are entered into based on the highly ",
"probable forecasted future cash outflows attributable to the Company’s inventory purchases in U.S. dollars. The effective portion of ",
"changes in the fair value of derivatives entered into that are designated and qualify as cash flow hedges is recognized in other ",
"comprehensive income. Any gain or loss in fair value relating to the ineffective portion is recognized immediately in other income ",
"(expense). ",
"IFRS – An entity must measure the liability incurred at fair value by applying an option pricing model. Until the liability is settled, the ",
"fair value of the liability is re-measured at each reporting date, with changes in fair value recognized as the awards vest. Changes in ",
"fair value of vested awards are recognized immediately in earnings. As a result, the Company adjusted expenses associated with ",
"share appreciation rights to reflect the changes of the fair values of these awards on transition to IFRS.",
"Canadian GAAP – A liability for share appreciation rights is accrued based upon the intrinsic value of the award with changes ",
"recognized in the income statement each period.",
"1.",
"A decrease to inventories of $0.3 million;",
"2.",
"A decrease to Accumulated Other Comprehensive Income of $0.1 million;",
"3.",
"A net deferred income tax asset of $0.1 million; and ",
"4.",
"A reduction to opening retained earnings of $0.3 million.",
"(v)",
"Hedge accounting",
"(vi) Impairment of a financial asset"
] | financial_reports |
|
[
"FAIRFAX MEDIA ",
"LIMITED",
" 2013 ",
"99",
"NOTEs TO THE FINANCIAL sTATEMENTs ",
"23.",
"REsERVEs (CONTINUED)",
"(F)",
"Acquisition reserve",
"(G)",
"General reserve",
"24.",
"RETAINED PROFITs",
"25.",
"EARNINGs PER sHARE",
"FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013",
"The acquisition reserve is used to record differences between the carrying value of non-controlling interests and the ",
"consideration paid/received, where there has been a transaction involving non-controlling interests that does not result in a loss ",
"of control. The reserve is attributable to the equity of the parent.",
"The general reserve is used to record Stapled Preference Share (SPS) issue costs that have been transferred from contributed ",
"equity. The SPS were repurchased on 29 April 2011.",
"NOTE",
"30June 2013",
"$’000",
"24",
"JUNE 2012",
"$’000",
"Balance at beginning of the financial year",
" (2,805,566)",
" 11,764 ",
"Net loss for the financial year",
" (16,432)",
" (2,732,397)",
"Actuarial gain/(loss) on defined benefit plans, net of tax",
" 1,651 ",
" (2,615)",
"Dividends paid",
"7",
" (47,040)",
" (82,318)",
"Balance at end of the financial year",
" (2,867,387)",
" (2,805,566)",
"30June 2013",
"¢PeR SHARe",
"24",
"JUNE 2012",
"¢ PER SHARE",
"Basic earnings per share ",
"Net loss attributable to owners of the parent",
" (0.7)",
" (116.2)",
"Net loss from continuing operations",
" (13.3)",
" (118.4)",
"diluted earnings per share ",
"Net loss attributable to owners of the parent",
" (0.7)",
" (116.2)",
"Net loss from continuing operations",
" (13.3)",
" (118.4)",
"30June 2013",
"$’000",
"24",
"JUNE 2012",
"$’000",
"earnings reconciliation – basic",
"Net loss attributable to owners of the parent",
" (16,432)",
" (2,732,397)",
"Net loss from continuing operations",
" (312,852)",
" (2,784,785)",
"earnings reconciliation – diluted",
"Net loss attributable to owners of the parent",
" (16,432)",
" (2,732,397)",
"Net loss from continuing operations",
" (312,852)",
" (2,784,785)",
"30June 2013",
"nuMBeR",
"’000",
"24",
"JUNE 2012",
"NUMBER ",
"$’000",
"Weighted average number of ordinary shares used in calculating basic ePS ",
" 2,351,956 ",
" 2,351,956 ",
"Weighted average number of ordinary shares used in calculating diluted ePS",
" 2,351,956 ",
" 2,351,956"
] | financial_reports |
|
[
"Attention to detail in the 2006 Ford Fusion will offer customers",
"in North America excellent quality and craftsmanship.",
"1",
"0",
"F",
"O"
] | financial_reports |
|
[
"In thousands",
"2002",
"2001",
"Accrued pension and postretirement benefits",
"$",
"9,635",
"$",
"9,777",
"Accrued and deferred compensation",
"6,041",
"4,926",
"Accrued insurance",
"2,914",
"1,317",
"Other",
"5,251",
"5,208",
"$23,841",
"$21,228",
"In thousands",
"Federal",
"State",
"Total",
"2002",
"Current",
"$8,797 ",
"$2,406",
"$11,203",
"Deferred",
"1,039",
"326",
"1,365",
"Total",
"$9,836 ",
"$2,732",
"$12,568",
"2001",
"Current",
"$6,472 ",
"$2,136",
"$",
"8,608",
"Deferred",
"1,456",
"(336)",
"1,120",
"Total",
"$7,928 ",
"$1,800",
"$",
"9,728",
"2000",
"Current",
"$7,961",
"$2,519",
"$10,480",
"Deferred",
"1,554",
"(463)",
"1,091",
"Total",
"$9,515",
"$2,056",
"$11,571",
"In thousands",
"2002",
"2001",
"2000",
"Computed “expected” tax expense",
"$11,074",
"$8,643",
"$11,037",
"Increase (reduction) in taxes due to:",
"State income taxes net of federal tax benefit",
"1,818",
"1,170",
"1,336",
"Investment tax credits",
"(191)",
"(156)",
"(155)",
"Other",
"(133)",
"71",
"(647)",
"Total income tax",
"$12,568",
"$9,728",
"$11,571",
"In thousands",
"2002",
"2001",
"2000",
"Depreciation",
"$2,405",
"$2,337",
"$2,031",
"Developer advances and contributions",
"(789)",
"(783)",
"(814)",
"Bond redemption premiums",
"806",
"(42)",
"(61)",
"Investment tax credits",
"(95)",
"(94)",
"(61)",
"Other",
"(962)",
"(298)",
"(4)",
"Total deferred income tax expense",
"$1,365",
"$1,120",
"$1,091",
"The components of deferred income tax expense were:",
"48",
"CALIFORNIA WATER SERVICE GROUP",
"10",
"11",
"OTHER ACCRUED LIABILITIES",
"INCOME TAXES",
"As of December 31, 2001 and 2002, other accrued liabilities were:",
"Income tax expense consists of the following:",
"Income tax expense computed by applying the current federal 35% tax rate to pretax book",
"income differs from the amount shown in the Consolidated Statement of Income.The difference is reconciled",
"in the table below:"
] | financial_reports |
|
[
"7.",
"STOCKHOLDERS’ EQUITY",
"8.",
"STOCK OPTION AND PURCHASE PLANS",
"The",
"Company accounts for its stock option plans in accordance with the provisions of SFAS 123. Accordingly, no compensation expense has been recognized for stock-",
"based",
"compensation, since the options granted were at prices that equaled or exceeded their estimated fair market value at the date of grant. If compensation",
"expense for the Company’",
"stock options issued in fiscal 2001, fiscal 2000 and fiscal 1999 had been determined based on the fair value method of accounting, the",
"Company’",
"net income would have been reduced to the pro forma amounts indicated below for the three fiscal years in the period ended February 2, 2002:",
"The Company’s stockholders’ equity is comprised of the following:",
"February 2, 2002",
"February 3, 2001 ",
"Common stock:",
"Authorized number of shares, $0.10 par value",
"........................",
"100,000,000",
"100,000,000",
"Issued and outstanding number of shares",
".............................",
"26,372,144",
"26,095,296",
"Preferred stock:",
"Authorized number of shares, $1.00 par value",
"........................",
"1,000,000",
"1,000,000",
"Issued and outstanding number of shares",
".............................",
"0",
"0",
"Stock Option Plans",
"Fiscal Year Ended",
"February",
"2, 2002",
"February 3, 2001",
"January 29, 2000",
"Net income",
"As reported ........................................",
"$46,582,000",
"$42,690,000",
"$35,049,000",
"Pro forma ..........................................",
"$43,308,000",
"$39,644,000",
"$33,111,000",
"Pro forma diluted net income per share",
"As reported ........................................",
"$1.73",
"$1.60",
"$1.32",
"Pro forma ..........................................",
"$1.61",
"$1.49",
"$1.24",
"34",
"THE",
"CHILDREN’S PLACE RETAIL STORES, INC.",
"NOTES TO CONSOLIDATED",
"FINANCIAL STATEMENTS",
"(Continued)"
] | financial_reports |
|
[
"Table of Contents",
"execute any of these activities successfully could result in adverse consequences, including lower sales, product margins, operating income and",
"cash flows.",
"The",
"industry",
"in",
"which",
"we",
"operate",
"is",
"subject",
"to",
"rapidly",
"changing",
"consumer",
"preferences.",
"The",
"continued",
"popularity",
"of",
"our",
"footwear",
"and",
"the",
"development of new lines and styles of footwear with widespread consumer appeal, including consumer acceptance of our footwear, requires us to",
"accurately identify and interpret changing consumer trends and preferences, and to effectively respond in a timely manner. Continuing demand and",
"market acceptance for both existing and new products are uncertain and depend on the following factors:",
"In assessing our response to anticipated changing consumer preferences and trends, we frequently must make decisions about product designs and",
"marketing expenditures several months in advance of the time when actual consumer acceptance can be determined. As a result, we may not be",
"successful in responding to shifting consumer preferences and trends with new products that achieve market acceptance. Because of the ever-",
"changing nature of consumer preferences and market trends, a number of companies in our industry experience periods of rapid growth, followed",
"by",
"declines,",
"in",
"revenue",
"and",
"earnings.",
"If",
"we",
"fail",
"to",
"identify",
"and",
"interpret",
"changing",
"consumer",
"preferences",
"and",
"trends,",
"or",
"are",
"not",
"successful",
"in",
"responding to these changes with the timely development or sourcing of products that achieve market acceptance, we could experience excess",
"inventories and higher than normal markdowns, returns, order cancellations or an inability to profitably sell our products.",
"The majority of our stores are located within shopping malls and depend to varying degrees on consumer traffic in the malls to generate sales.",
"Declines in mall traffic, whether caused by a shift in consumer shopping preferences or by other factors, such as COVID-19, may negatively impact",
"our ability to maintain or grow our sales in existing stores, which could have an adverse effect on our financial condition or results of operations.",
"Our business is seasonal, with a significant portion of our net sales and operating income generated during the fourth quarter, which includes the",
"holiday shopping season. Because of this seasonality, we have limited ability to compensate for shortfalls in fourth quarter sales or earnings by",
"changes in our operations or strategies in other quarters. Our quarterly results of operations also may fluctuate significantly based on such factors",
"as:",
"•",
"the timing of new store openings and renewals;",
"•",
"the amount of net sales contributed by new and existing stores;",
"•",
"the timing of certain holidays and sales events;",
"•",
"changes in quarter end dates due to the 53 week year;",
"•",
"changes in our merchandise mix;",
"•",
"weather conditions that affect consumer spending; and",
"•",
"actions of competitors, including promotional activity.",
"10",
"Our results of operations are subject to seasonal and quarterly fluctuations.",
"Our results may be adversely affected by declines in consumer traffic in malls.",
"Our future success also depends on our ability to respond to changing consumer preferences, identify and interpret consumer trends,",
"and successfully market new products.",
"•",
"substantial investment in product innovation, design and development;",
"•",
"commitment to product quality; and",
"•",
"significant and sustained marketing efforts and expenditures, including with respect to the monitoring of consumer trends in footwear",
"specifically and in fashion and lifestyle categories generally."
] | financial_reports |
|
[
"Inventories",
"Receivables and Other Short-term Assets",
"Property, Plant and Equipment",
"Goodwill",
"Inventories are valued at acquisition or manufacturing costs or at",
"the lower net realizable values derived from the selling price at",
"the balance sheet date. As a general rule, the acquisition cost of",
"merchandise is determined using the average cost method. Value ",
"Trade receivables and other receivables as well as financial ",
"assets are stated at nominal value net of value adjustments. All ",
"adjustments are determined in a uniform manner throughout the",
"Group, depending on the age of the goods concerned. Risks due",
"to fashion trends are adequately taken into account. ",
"recognizable risks are sufficiently accounted for in the form of",
"individual risk assessment or on the basis of historical values.",
"Property, plant and equipment are stated at acquisition cost net",
"of accumulated depreciation. The depreciation period depend on",
"the item’s useful life. As a general rule, the straight-line method",
"of depreciation is applied. The useful life depends on the type of",
"assets involved:",
"Cost of maintenance and repair is recorded as expense at the",
"time of origin. Significant improvements and renewals are ",
"capitalized. Interest on outside capital is reported as current",
"expense.",
"Leased items regarded as significant in terms of their amounts",
"and qualifying as finance leasing are shown under property, plant",
"Goodwill is valued at acquisition costs net of accumulated ",
"amortization using the straight line method and assuming a ",
"useful life of 15 years. ",
"and equipment; they are valued at the amount of the fair value",
"or the lower present value of the minimum lease payments when",
"recognised for the first time and net of accumulated depreciation",
"in subsequent accounting periods.",
"Buildings",
"10",
"to 50 years",
"Machines, machine equipment and technical equipment,",
"business and factory equipment ",
"3",
"to 10 years",
"Depreciation",
"period",
"Foreword | Mission | Management Report | Share | Marketing | ",
"Consolidated Financial Statements - IFRS -",
"| Report of Supervisory Board | Board of Management",
"69"
] | financial_reports |
|
[
"245",
"32.4",
"Revaluation reserves",
"Available-for-",
"sale ",
"investments",
"Real estate ",
"held for own ",
"use",
"Cash flow ",
"hedging ",
"reserve",
"Total",
"At January 1, 2013",
"4,969",
"39",
"1,065",
"6,073",
"Gross revaluation",
"(3,238)",
"(4)",
"(496)",
"(3,738)",
"Net (gains) / losses transferred to income statement",
"(435)",
"-",
"(26)",
"(461)",
"Foreign currency translation differences",
"(113)",
"(1)",
"(33)",
"(147)",
"Tax effect",
"1,073",
"1",
"192",
"1,267",
"Other",
"4",
"-",
"-",
"4",
"At December 31, 2013",
"2,262",
"35",
"702",
"2,998",
"At January 1, 2012 ",
"1)",
"2,314",
"43",
"1,124",
"3,481",
"Gross revaluation",
"4,200",
"(5)",
"6",
"4,201",
"Net (gains) / losses transferred to income statement",
"(465)",
"-",
"(63)",
"(528)",
"Foreign currency translation differences",
"(24)",
"-",
"(29)",
"(53)",
"Tax effect",
"(1,075)",
"1",
"27",
"(1,047)",
"Other",
"19",
"-",
"-",
"19",
"At December 31, 2012",
"4,969",
"39",
"1,065",
"6,073",
"At January 1, 2011",
"493",
"41",
"424",
"958",
"Gross revaluation",
"3,012",
"2",
"1,016",
"4,030",
"Net (gains) / losses transferred to income statement",
"(513)",
"-",
"(18)",
"(531)",
"Foreign currency translation differences",
"101",
"1",
"60",
"162",
"Tax effect",
"(794)",
"(1)",
"(360)",
"(1,155)",
"At December 31, 2011 ",
"1)",
"2,299",
"43",
"1,122",
"3,464",
"1 ",
"Amounts for 2012 and 2011 have been restated for the changes in accounting policies IFRS 10, 11 and IAS 19. Refer to note 2 for details about these changes.",
"The revaluation accounts for both available-for-sale investments and for real estate held for own use include unrealized gains and ",
"losses on these investments, net of tax. Upon sale, the amounts realized are recognized in the income statement (for available-for-sale ",
"investments) or transferred to retained earnings (for real estate held for own use). Upon impairment, unrealized losses are recognized ",
"in the income statement. ",
"The closing balances of the revaluation reserve for available-for-sale investments relate to the following instruments:",
"2013",
"2012",
"2011",
"Shares",
"249",
"194",
"125",
"Debt securities",
"1,976",
"4,737",
"2,183",
"Other",
"36",
"38",
"(9)",
"Revaluation reserve for availableforsale investments",
"2,262",
"4,969",
"2,299",
"The cash flow hedging reserve includes (un)realized gains and losses on the effective portions of hedging instruments, net of tax. ",
"The amounts are recognized in the income statement at the moment of realization of the hedged position to offset the gain or loss ",
"from the hedged cash flow. No amounts have been released from equity to be included in the initial measurement of non-financial ",
"assets or liabilities.",
"32.5",
"Remeasurement of defined benefit plans",
"2013",
"2012",
"2011",
"At January 1",
"(1,085)",
"(979)",
"(547)",
"Remeasurements of defined benefit plans",
"562",
"(149)",
"(583)",
"Tax effect",
"(202)",
"37",
"180",
"Net exchange differences",
"19",
"6",
"(29)",
"Total remeasurement of defined benefit plans",
"(706)",
"(1,085)",
"(979)"
] | financial_reports |
|
[
"Notes to Consolidated Financial Statements",
"U.S. Cellular is subject to asset retirement obligations associated primar-",
"ily with its cell sites, retail sites and office locations. Legal obligations",
"include obligations to remediate leased land on which U.S. Cellular’s ",
"cell sites and switching offices are located. U.S. Cellular is also required",
"to return leased retail store premises and office space to their pre-",
"existing conditions.",
"U.S. Cellular determined that it had an obligation to remove long-lived",
"assets in its cell sites, retail sites and office locations as described by",
"SFAS No. 143, and has recorded a liability and related asset retirement",
"obligation accretion expense. The change in asset retirement obligation",
"during 2003 was as follows:",
"Effective January 1, 2003, U.S. Cellular adopted SFAS No. 143 “Accounting",
"for Asset Retirement Obligations,” and recorded the initial liability for",
"legal obligations associated with an asset retirement. The cumulative",
"effect of the implementation of this accounting standard on periods",
"prior to 2003 was recorded in the first quarter of 2003, decreasing net",
"income by $14.3 million, net of taxes of $9.7 million and minority",
"interest of $0.5 million, or $0.17 per basic and diluted share.",
"The following pro forma amounts show the effect of the retroactive",
"application of the change in accounting principle for the adoption of",
"SFAS No. 143:",
"Revenues from wireless operations primarily consist of charges for",
"access, airtime, roaming and value added services provided for U.S.",
"Cellular’s retail customers; charges to carriers whose customers use ",
"U.S. Cellular’s systems when roaming; charges for long-distance calls",
"made on U.S. Cellular’s systems; end user equipment sales; and sales ",
"of accessories. Revenues are recognized as services are rendered.",
"Unbilled revenues, resulting from wireless service provided from the",
"billing cycle date to the end of each month and from other wireless",
"carriers’ customers using U.S. Cellular’s systems for the last half of ",
"each month, are estimated and recorded.",
"Equipment sales represent a separate earnings process. Revenues ",
"from equipment and accessory sales are recognized upon delivery to ",
"the customer. In order to provide better control over handset quality,",
"U.S. Cellular began selling handsets to agents beginning in the second",
"quarter of 2002 at a price approximately equal to cost. In most cases,",
"the agents receive rebates from U.S. Cellular at the time the agents sign",
"up new customers or retain current customers. U.S. Cellular accounts for",
"the sale of equipment to agents in accordance with Emerging Issues",
"Task Force (“EITF”) Statement 01-09, “Accounting for Consideration",
"Given by a Vendor to a Customer (Including a Reseller of the Vendor’s",
"Products).” This standard requires that equipment sales revenue be",
"reduced by the anticipated rebates to be paid to the agents at the time",
"the agent purchases the handsets rather than at the time the agent",
"signs up a new customer or retains a current customer.",
"Activation fees charged with the sale of service only are deferred ",
"and recognized over the average customer service period.",
"Effective January 1, 2002, U.S. Cellular adopted EITF Statement 00-21",
"“Accounting for Multiple Element Arrangements.” Under this pronounce-",
"ment, activation fees charged with the sale of equipment and service ",
"are allocated to the equipment and service based upon the relative fair",
"values of each item. Due to the subsidy provided on customer handsets,",
"this generally results in the recognition of the activation fee as additional",
"handset revenue at the time of sale. Upon the initial adoption of Staff",
"Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition” in 2000,",
"Effective January 1, 2002, U.S. Cellular adopted SFAS No. 142 and deter-",
"mined that wireless licenses have indefinite lives. Upon initial adoption,",
"U.S. Cellular reviewed its investment in licenses and determined there",
"was an impairment loss on certain licenses. The cumulative effect of ",
"the initial impairment upon the adoption of SFAS No. 142 reduced net",
"income in 2002 by $12.7 million, net of taxes of $8.2 million, or ",
"$(0.14) per diluted share.",
"Effective January 1, 2002, U.S. Cellular changed its method of accounting",
"for commissions expenses related to customer activations and began",
"deferring expense recognition of a portion of commissions expenses in",
"the amount of deferred activation fees revenue. U.S. Cellular believes",
"this change is a preferable method of accounting for such costs primar-",
"ily due to the fact that the new method of accounting provides for",
"better matching of revenue from customer activations to direct incre-",
"mental costs associated with these activations within each reporting",
"49",
"Cumulative Effect of Accounting Changes",
"Revenue Recognition",
"Year Ended December 31,",
"2003",
"2002",
"2001",
"(as restated)",
"(as restated)",
"(Dollars in thousands,",
"except per share amounts)",
"Actual",
"Net income (loss)",
"$42,660",
"$(26,945)",
"$173,876",
"Basic earnings (loss) per share",
"$0",
".",
"5",
"0",
"$(",
"0.31)",
"$",
"2.02",
"Diluted earnings (loss) per share",
"$0",
".",
"4",
"9",
"$(",
"0.31)",
"$",
"1.99",
"Pro forma",
"Net income (loss)",
"$57,006",
"$(30,047)",
"$171,481",
"Basic earnings (loss) per share",
"$0",
".",
"6",
"7",
"$(",
"0.34)",
"$",
"1.99",
"Diluted earnings (loss) per share",
"$0",
".",
"6",
"$(",
"0.34)",
"$",
"1.97",
"December 31,",
"January 1,",
"2002",
"2001",
"2001",
"(Dollars in thousands)",
"Pro forma - Balance Sheet data",
"Asset retirement obligation",
"$54,438",
"$45,246",
"$36,806",
"(Dollars in thousands)",
"Beginning balance - January 1, 2003",
"$54,438",
"Additional liabilities accrued",
"5,641",
"Accretion expense",
"4,422",
"Ending balance - December 31, 2003",
"$64,501",
"had U.S. Cellular deferred activation fees associated with the sales of",
"equipment and service at the time of activation, with subsequent recog-",
"nition over the expected customer service period, the financial results for",
"all periods presented would not have been materially different from",
"those originally reported. The effect of adopting EITF 00-21 did not have",
"a material impact on any of the periods as originally reported.",
"During December 2003, the SEC issued SAB 104, “Revenue Recognition,”",
"which revised and rescinded portions of SAB 101. The issuance of SAB",
"104 did not impact U.S. Cellular’s revenue recognition policies."
] | financial_reports |
|
[
"|",
" 09 ",
"2012 AnnUAL REPORT",
"Sikorsky’s S-92 helicopter is ",
"used to transport workers to ",
"and from offshore petroleum ",
"operations, as well as for ",
"executive transportation and ",
"search-and-rescue missions.",
"Our aerospace businesses continue to raise the performance bar. ",
"Sikorsky’s S-92 helicopter, certified to the most stringent safety",
"standards of the Federal Aviation Administration and the European ",
"Aviation Safety Agency, enables operators to conduct critical offshore ",
"petroleum operations and search-and-rescue missions even in severe ",
"weather. In 2012, the FAA certified the aircraft’s newest flotation system ",
"for its capability to perform in Sea State 6 conditions, when waves can ",
"reach as high as 20 feet and winds as strong as 47 knots. The aircraft’s",
"reputation for safety and robustness helped produce an order backlog ",
"totaling $1.5 billion by year-end.",
"Pratt & Whitney’s new PurePower GTF engine also promises to be a game changer when it enters ",
"service. The ultra-efficient engine is expected to reduce fuel burn by up to 16 percent, nitrogen ",
"oxide emissions by half and airport ground noise by 75 percent. Another big advantage—it is ",
"expected to generate an annual cost savings of up to $1.5 million per aircraft over today’s best ",
"engines in its class. The PurePower engine has been chosen to power next-generation aircraft ",
"from Airbus, Bombardier, Embraer, Irkut and Mitsubishi Aircraft Corporation.",
"Top performance depends on people. In 2012, more than 40,000 UTC Aerospace Systems ",
"employees demonstrated a remarkable ability to embrace change and accelerate performance. ",
"Ten months after the announcement of the largest acquisition in aerospace history, the ",
"employees of Goodrich and Hamilton Sundstrand came together as one integrated company. ",
"Intensive planning, coordination and teamwork resulted in seamless customer support and",
"the achievement of all financial commitments. ",
"Otis and UTC Climate, Controls & Security are ",
"committed to offering customers innovative, ",
"high-performing products. Otis’ NCE escalator ",
"is equipped with an energy-saving regenerative ",
"drive, power-standby features, LED lighting ",
"and high-efficiency lubrication. Recognized ",
"for its world-class customer service, Otis ",
"soon will launch eService mobile, an app that",
"enables customers to monitor the status of their ",
"elevators and log service calls from a mobile ",
"device while on the go.",
"During the year, several Carrier products achieved ",
"breakthrough energy efficiency and industry-leading ",
"performance, including the Evergreen 23xRv chiller with ",
"Foxfire compression technology and the Infinity 98 gas ",
"furnace. These products demonstrate UTC Climate,",
"Controls & Security’s commitment to innovation. ",
"Otis’ tradition of",
"innovation continues",
"with the nCE escalator."
] | financial_reports |
|
[
"MetLife, Inc.",
"Notes to the Consolidated Financial Statements — (Continued)",
"The changes in fixed maturity securities with noncredit OTTI losses included in AOCI were as follows:",
"(1)",
"Noncredit OTTI losses recognized, net of DAC, were ($21) million and $33 million for the years ended December 31, 2012 and 2011, respectively.",
"The changes in net unrealized investment gains (losses) were as follows:",
"Investments in any counterparty that were greater than 10% of the Company’s equity, other than the U.S. government and its agencies, were in fixed",
"income securities of the Japan government and its agencies of $22.4 billion and $21.0 billion, at estimated fair value, at December 31, 2012 and 2011,",
"respectively. The Company’s investment in fixed maturity and equity securities to counterparties that primarily conduct business in Japan were $28.7",
"billion and $28.4 billion, including Japan government and agency fixed maturity securities, at December 31, 2012 and 2011, respectively.",
"Concentrations of Credit Risk",
"124",
"Years Ended December 31,",
"2012",
"2011",
"(In millions)",
"Balance, January 1, ...........................................................................",
"$(724)",
"$(601)",
"Noncredit OTTI losses recognized (1) ..............................................................",
"(29)",
"31",
"Securities sold with previous noncredit OTTI loss .....................................................",
"177",
"125",
"Subsequent changes in estimated fair value ........................................................",
"215",
"(279)",
"Balance, December 31, ........................................................................",
"$(361)",
"$(724)",
"Years Ended December 31,",
"2012",
"2011",
"2010",
"(In millions)",
"Balance, beginning of period ......................................................................",
"$ 8,674",
"$ 3,122",
"$(1,338)",
"Cumulative effect of change in accounting principles, net of income tax",
"....................................",
"—",
"—",
"52",
"Fixed maturity securities on which noncredit OTTI losses have been recognized ..............................",
"363",
"(123)",
"242",
"Unrealized investment gains (losses) during the year ....................................................",
"12,467",
"14,823",
"9,117",
"Unrealized investment gains (losses) of subsidiary at the date of disposal ...................................",
"—",
"(105)",
"—",
"Unrealized investment gains (losses) relating to:",
"Insurance liability gain (loss) recognition ............................................................",
"(2,053)",
"(3,406)",
"(554)",
"Insurance liability gain (loss) recognition of subsidiary at the date of disposal ...............................",
"—",
"82",
"—",
"DAC and VOBA related to noncredit OTTI losses recognized in accumulated other comprehensive income (loss) . .",
"(28)",
"9",
"(33)",
"DAC and VOBA ..............................................................................",
"(685)",
"(808)",
"(1,135)",
"DAC and VOBA of subsidiary at date of disposal ....................................................",
"—",
"11",
"—",
"Policyholder dividend obligation ..................................................................",
"(909)",
"(2,043)",
"(876)",
"Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in accumulated other",
"comprehensive income (loss) ...................................................................",
"(117)",
"39",
"(73)",
"Deferred income tax benefit (expense) ..............................................................",
"(3,279)",
"(2,936)",
"(2,283)",
"Deferred income tax benefit (expense) of subsidiary at date of disposal .....................................",
"—",
"4",
"—",
"Net unrealized investment gains (losses) .............................................................",
"14,433",
"8,669",
"3,119",
"Net unrealized investment gains (losses) attributable to noncontrolling interests ...............................",
"(14)",
"5",
"3",
"Balance, end of period ..........................................................................",
"$14,419",
"$ 8,674",
"$ 3,122",
"Change in net unrealized investment gains (losses)",
"....................................................",
"$ 5,759",
"$ 5,547",
"$ 4,457",
"Change in net unrealized investment gains (losses) attributable to noncontrolling interests .......................",
"(14)",
"5",
"3",
"Change in net unrealized investment gains (losses) attributable to MetLife, Inc. ...............................",
"$ 5,745",
"$ 5,552",
"$ 4,460",
"MetLife, Inc."
] | financial_reports |
|
[
"ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND",
"RESULTS OF OPERATIONS",
"Management Overview",
"Industry Considerations",
"U.S. Government Business",
"Budget Priorities",
"1",
"We define free cash flow as cash from operations as determined under U.S. generally accepted accounting principles",
"(GAAP), less the amount identified as expenditures for property, plant and equipment and capitalized internal-use",
"software as presented on our Statements of Cash Flows.",
"22",
"The U.S. Government continues to focus on developing and implementing spending, tax, and other initiatives to",
"stimulate the economy, create jobs, and reduce the deficit. The Administration is attempting to balance decisions regarding",
"defense, homeland security, and other federal spending priorities in a greatly constrained fiscal environment imposed by the",
"enactment of the Budget Control Act of 2011 (Budget Act), which reduces defense spending by $487 billion over a ten-year",
"period starting in fiscal year 2012. Absent a significant redress of the structural disconnect between revenues and",
"expenditures that can only be addressed through major tax and mandatory spending program reforms, it is likely that",
"discretionary spending by the federal government will remain constrained for several years. Although some specific priorities",
"and initiatives may change from year to year, the investments and acquisitions we have made have been focused on aligning",
"our businesses to address what we believe are the most critical national priorities and mission areas. The possibility remains,",
"however, that one or more of our programs could be reduced, extended, or terminated as a result of the Administration’s",
"continuing assessment of priorities. Notably, should Congress and the Administration fail to change or delay a pending",
"sequestration of appropriations in fiscal year 2013 imposed by the Budget Act, our customers could see their budgets",
"We expect a slight decline in our 2012 consolidated net sales and segment operating profit as compared to 2011, as our",
"customers prepare to meet new security challenges without the benefit of increased resources. Our 2012 segment operating",
"margin is expected to remain above 11%. Despite the challenges we face, we have a strong balance sheet and we expect to",
"generate strong operating cash flows, which will allow us to continue to invest in technologies to fulfill new mission",
"requirements for our customers, invest in our people so that we have the professional and leadership skills necessary to be",
"successful in this environment, and to return at least 50% of free cash flow",
"1",
"to investors in the form of share repurchases and",
"dividends.",
"We are operating in an environment that is characterized by both increasing complexity in the global security",
"environment, as well as continuing economic pressures in the U.S. and globally. A significant component of our strategy in",
"this environment is to focus on core program execution, improving the quality and predictability of the delivery of our",
"products and services, and placing more security capability into the hands of our customers at affordable prices. Recognizing",
"that our U.S. Government customers are resource constrained, we are endeavoring to develop and extend our portfolio in a",
"disciplined manner with a focus on international and adjacent markets. Finally, we are focused on cost reduction, through",
"actions such as our workforce reductions in 2011 and programs like our Voluntary Executive Separation Program (VESP)",
"and facility reduction initiatives in 2010, to further enhance the value of our products and services.",
"We have four business segments: Aeronautics, Electronic Systems, Information Systems & Global Solutions (IS&GS),",
"and Space Systems. We organize our business segments based on the nature of the products and services offered.",
"We are a global security and aerospace company principally engaged in the research, design, development, manufacture,",
"integration, and sustainment of advanced technology systems and products. We also provide a broad range of management,",
"engineering, technical, scientific, logistic, and information services. We serve both domestic and international customers",
"with products and services that have defense, civil, and commercial applications, with our principal customers being agencies",
"of the U.S. Government. In 2011, 82% of our $46.5 billion in net sales were from the U.S. Government, either as a prime",
"contractor or as a subcontractor (including 61% from the Department of Defense (DoD)), 17% were from international",
"customers (including foreign military sales (FMS) funded, in whole or in part, by the U.S. Government), and 1% were from",
"U.S. commercial and other customers. Our main areas of focus are in defense, space, intelligence, homeland security, and",
"information technology, including cyber security."
] | financial_reports |
|
[
"The following table sets forth changes in our total gross unrec-",
"ognized tax benefit liabilities, excluding accrued interest, for fiscal",
"2010. Approximately $206.4 million of this total represents the",
"amount that, if recognized, would affect our effective income tax",
"rate in future periods. This amount differs from the gross unrec-",
"ognized tax benefits presented in the table because certain of the",
"liabilities below would impact deferred taxes if recognized or are",
"the result of stock compensation items impacting additional paid-",
"in capital. We also would record a decrease in U.S. federal income",
"taxes upon recognition of the state tax benefits included therein.",
"An analysis of rent expense by type of property for operating",
"leases follows:",
"As of May 30, 2010, we have classified $299.0 million of the",
"unrecognized tax benefits as a current liability as we expect to",
"pay these amounts within the next 12 months, including a portion",
"of our potential liability for the matter resolved by the U.S. Court",
"of Appeals, as discussed above. While fiscal years 2007 and",
"2008 are currently under examination by the Internal Revenue",
"Service (IRS), we are not able to reasonably estimate the timing of",
"future cash flows beyond 12 months due to uncertainties in the",
"timing",
"of",
"this",
"and",
"other",
"tax",
"audit",
"outcomes. The",
"remaining",
"amount of our unrecognized tax liability was classified in other",
"liabilities.",
"We report accrued interest and penalties related to unrecog-",
"nized tax benefits in income tax expense. For fiscal 2010, we",
"recognized a net $16.2 million of tax-related net interest and",
"penalties, and had $174.8 million of accrued interest and penalties",
"as of May 30, 2010.",
"As of May 30, 2010, we have issued guarantees and comfort",
"letters of $537.5 million for the debt and other obligations of con-",
"solidated",
"subsidiaries,",
"and",
"guarantees",
"and",
"comfort",
"letters",
"of",
"$301.6 million for the debt and other obligations of nonconsolidated",
"affiliates, mainly CPW. In addition, off-balance sheet arrangements",
"are generally limited to the future payments under noncancelable",
"operating leases, which totaled $315.3 million as of May 30, 2010.",
"These future lease commitments will be partially offset by",
"estimated future sublease receipts of $16 million. Depreciation on",
"capital leases is recorded as depreciation expense in our results of",
"operations.",
"Some",
"operating",
"leases",
"require",
"payment",
"of",
"property",
"taxes,",
"insurance, and maintenance costs in addition to the rent pay-",
"ments. Contingent and escalation rent in excess of minimum rent",
"payments and",
"sublease income netted",
"in rent",
"expense were",
"insignificant.",
"Noncancelable future lease commitments are:",
"NOTE 15. LEASES AND OTHER COMMITMENTS",
"In Millions",
"2010",
"2009",
"Fiscal Year",
".........................................",
".........................................................................................................................................................................................",
"Balance, beginning of year",
"$570.1",
"$534.6",
"Tax position related to current year:",
"Additions",
"19.7",
"66.8",
"Tax positions related to prior years:",
"Additions",
"7.1",
"48.9",
"Reductions",
"(37.6)",
"(63.7)",
"Settlements",
"(1.9)",
"(13.0)",
"Lapses in statutes of limitations",
"(4.5)",
"(3.5)",
".........................................................................................................................................................................................",
"Balance, end of year",
"$552.9",
"$570.1",
"In Millions",
"2010",
"2009",
"2008",
"Fiscal Year",
"..................................................................",
".........................................................................................................................................................................................",
"Warehouse space",
"$ 55.7",
"$ 51.4",
"$ 49.9",
"Equipment",
"30.6",
"39.1",
"28.6",
"Other",
"51.6",
"49.5",
"43.2",
".........................................................................................................................................................................................",
"Total rent expense",
"$137.9",
"$140.0",
"$121.7",
"In Millions",
"Operating Leases",
"Capital Leases",
".........................................................................................................................................................................................",
"2011",
"$ 87.4",
"$ 1.7",
"2012",
"63.9",
"1.3",
"2013",
"46.8",
"1.1",
"2014",
"31.5",
"0.3",
"2015",
"22.4",
"0.2",
"After 2015",
"63.3",
"—",
".........................................................................................................................................................................................",
"Total noncancelable future lease",
"commitments",
"$315.3",
"$ 4.6",
"....................................................................................................................................................",
"Less: interest",
"(0.5)",
".........................................................................................................................................................................................",
"Present value of obligations under capital",
"leases",
"$ 4.1",
"General Mills",
"80"
] | financial_reports |
|
[
"NOTES TO CONSOLIDATED ",
"FINANCIAL STATEMENTS",
"13.",
"DISTRIBUTIONS",
"In December 2002, 2001 and 2000, the Board of Directors of the Company authorized a distribution of $0.39",
"per share payable in January 2003, 2002 and 2001, to holders of record on January 17, 2003, January 17,",
"2002 and January 15, 2001, respectively. As a result, $5,924,000, $5,670,000 and $5,410,000, were paid to",
"common shareholders on January 31, 2003, January 31, 2002 and January 31, 2001, respectively. Also,",
"$2,018,000, $2,017,000 and $2,017,000, were paid to limited partnership unitholders on January 31, 2003,",
"January 31, 2002 and January 31, 2001 ($0.39 per Operating Partnership unit), respectively. These amounts ",
"are reflected as a reduction of stockholders’ equity in the case of common stock dividends and minority",
"interests deductions in the case of limited partner distributions and are included in accounts payable in the",
"accompanying consolidated financial statements. ",
"In December 1995, the Company established a Dividend Reinvestment and Stock Purchase Plan (the “Plan”), ",
"to allow its stockholders and holders of limited partnership interests an opportunity to buy additional shares of",
"common stock by reinvesting all or a portion of their dividends or distributions. The Plan provides for investing ",
"in newly issued shares of common stock at a 3% discount from market price without payment of any brokerage",
"commissions, service charges or other expenses. All expenses of the Plan are paid by the Company. The",
"Operating Partnership also maintains a similar dividend reinvestment plan that mirrors the Plan, which allows",
"limited partnership interests the opportunity to buy additional limited partnership units. ",
"During 2002, $1.46 per share of the distributions paid represented ordinary dividend income and $0.10 per",
"share represented return of capital to the shareholders. The following summarizes distributions paid during ",
"the years ended December 31, 2002, 2001 and 2000, and includes activity in the Plan as well as limited",
"partnership units issued from the reinvestment of unit distributions:",
"27",
"Total Distributions to",
"Dividend Reinvestments",
"Common",
"Limited Partnership ",
"Common",
"Units",
"Discounted",
"(in thousands)",
"Stockholders",
"Unitholders",
"Stock Issued",
"Issued",
"Share Price",
"Distributions during 2002",
"October 31",
"$",
"5,839",
"$",
"2,019",
"136,107",
"3,110",
"$",
"23.18",
"July 31",
"5,785",
"2,017",
"135,603",
"--",
"22.94",
"April 30",
"5,736",
"2,017",
"119,772",
"--",
"22.94",
"January 31",
"5,670",
"2,017",
"165,390",
"--",
"20.39",
"$",
"23,030",
"$",
"8,070",
"556,872",
"3,110",
"Distributions during 2001",
"October 31",
"$",
"5,599",
"$",
"2,018",
"176,319",
"--",
"$",
"18.62",
"July 31",
"5,529",
"2,017",
"175,790",
"--",
"18.04",
"April 30",
"5,460",
"2,017",
"169,753",
"--",
"17.95",
"January 31",
"5,410",
"2,017",
"123,561",
"--",
"17.07",
"$",
"21,998",
"$",
"8,069",
"645,423",
"--",
"Distributions during 2000",
"October 31",
"$",
"5,356",
"$",
"2,018",
"133,435",
"--",
"$",
"14.85",
"July 31",
"5,305",
"2,017",
"125,705",
"--",
"15.34",
"April 28",
"5,254",
"2,017",
"125,558",
"--",
"14.97",
"January 31",
"5,202",
"2,017",
"129,789",
"--",
"14.43",
"$",
"21,117",
"$",
"8,069",
"514,487",
"--"
] | financial_reports |
|
[
"100",
"Consolidated ",
"Notes to the ",
"Financial ",
"Statements",
"2012 ",
"$m",
"2011 ",
"$m",
"Note 35 – Reserves",
"Employee equity benefits",
"2.6 ",
"0.6 ",
"Hedging",
"19.4 ",
"(97.3)",
"Other",
"– ",
"(0.4)",
"22.0 ",
"(97.1)",
"Movement in reserves",
"Employee equity benefits reserve",
"Balance at beginning of financial year",
"0.6 ",
"4.7 ",
"Share-based payment plans expense",
"6.4 ",
"2.0 ",
"Purchase of shares on-market under AGL Share Reward Plan",
"(1.1)",
"(1.6)",
"Purchase of shares on-market under AGL Long-Term Incentive Plan",
"(3.3)",
"(4.5)",
"Balance at end of financial year",
"2.6 ",
"0.6 ",
"Hedging reserve",
"Balance at beginning of financial year",
"(97.3)",
"(163.6)",
"Gain/(loss) arising on changes in fair value of cash flow hedges",
"14.1 ",
"(118.4)",
"Income tax related to gains/(losses) recognised in other comprehensive income",
"(4.2)",
"35.5 ",
"Cumulative loss arising on changes in fair value of cash flow hedges reclassified to profit or loss",
"115.9 ",
"178.4 ",
"Income tax related to amounts reclassified to profit or loss",
"(34.8)",
"(55.2)",
"Transferred to initial carrying amount of hedged item",
"40.3 ",
"4.6 ",
"Income tax related to amounts transferred to initial carrying amount of hedged item",
"(12.1)",
"(1.4)",
"Share of (loss)/gain in reserve attributable to an associate",
"(38.7)",
"22.8 ",
"Cumulative loss reclassified to profit or loss of pre-existing equity interest in an acquired entity",
"36.2 ",
"– ",
"Balance at end of financial year",
"19.4 ",
"(97.3)",
"Other reserve",
"Balance at beginning of financial year",
"(0.4)",
"(0.5)",
"Share of gain in reserve attributable to an associate",
"0.3 ",
"0.1 ",
"Cumulative loss reclassified to profit or loss of pre-existing equity interest in an acquired entity",
"0.1 ",
"– ",
"Balance at end of financial year",
"– ",
"(0.4)",
"The hedging reserve represents the cumulative effective portion of gains and losses arising on changes in fair value of hedging instruments entered into ",
"for cash flow hedges. The cumulative gain or loss on changes in fair value of the hedging instruments will be reclassified to profit or loss only when the ",
"hedged transaction affects the profit or loss, or is included as a basis adjustment to the non-financial hedged item.",
"The other reserve represents the consolidated entity’s share of the reserves of associates and jointly controlled entities.",
"The employee equity benefits reserve is used to record the value of share-based payments to employees, including key management personnel, as part of ",
"their remuneration. Refer to Note 49 for further information on share-based payment plans."
] | financial_reports |
|
[
"86",
"NOTEs TO THE FINANCIAL sTATEMENTs ",
"15.",
"PROPERTY, PLANT AND EqUIPMENT (CONTINUED)",
"FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013",
"During the current year, an impairment charge of $40.9 million was recorded on property, plant and equipment. This impairment primarily ",
"relates to leasehold improvements and freehold land and buildings at various sites in the Group’s print network. The impairment was ",
"recognised following a review of the fair value less costs to sell.",
"NOTE",
"CAPITAL WORKS",
"IN PROGRESS",
"$’000",
" FREEHOLD ",
"LAND &",
"BUILDINGS",
"$’000",
"LEASEHOLD",
"BUILDINGS",
"$’000",
"PLANT AND",
"EQUIPMENT",
"$’000",
"TOTAL",
"$’000",
"Period ended 30 June 2013",
"Balance at beginning of financial year",
" 7,749 ",
" 219,362 ",
" 67,738 ",
" 252,155 ",
" 547,004 ",
"Additions/capitalisations",
" 35,715 ",
" 2,313 ",
" 762 ",
" 13,130 ",
" 51,920 ",
"Capitalisation to software",
"14",
" (9,364)",
" – ",
" – ",
" – ",
" (9,364)",
"Disposals",
" – ",
" (259)",
" – ",
" (2,132)",
" (2,391)",
"Disposal of controlled entities",
" – ",
" (979)",
" (209)",
" (406)",
" (1,594)",
"Discontinued operations",
" (1,047)",
" – ",
" (46)",
" (3,111)",
" (4,204)",
"Acquisition through business combinations",
" – ",
" 1,350 ",
" 4 ",
" 1,218 ",
" 2,572 ",
"Depreciation for continuing operations",
"3(B)",
" – ",
" (5,370)",
" (3,745)",
" (60,024)",
" (69,139)",
"Depreciation for discontinued operations",
" – ",
" – ",
" – ",
" (1,114)",
" (1,114)",
"Assets classified as held for sale",
"10",
" – ",
" 1,052 ",
" – ",
" 524 ",
" 1,576 ",
"Reclasses between asset categories",
" 123 ",
" 4,838 ",
" 2,692 ",
" (7,653)",
" – ",
"Impairment",
" – ",
" (11,430)",
" (27,534)",
" (1,967)",
" (40,931)",
"Exchange differences",
" 46 ",
" 2,547 ",
" 127 ",
" 1,878 ",
" 4,598 ",
"At 30 June 2013, net of accumulated ",
"depreciation and impairment",
" 33,222 ",
" 213,424 ",
" 39,789 ",
" 192,498 ",
" 478,933 ",
"At 30 June 2013",
"Cost",
" 33,222 ",
" 273,198 ",
" 110,574 ",
" 1,061,360 ",
" 1,478,354 ",
"Accumulated depreciation and impairment",
" – ",
" (59,774)",
" (70,785)",
" (868,862)",
" (999,421)",
"net carrying amount",
" 33,222 ",
" 213,424 ",
" 39,789 ",
" 192,498 ",
" 478,933 "
] | financial_reports |
|
[
"At December 31",
"2003",
"2002",
"LIABILITIES AND STOCKHOLDERS’ EQUITY",
"CURRENT LIABILITIES",
"Accounts payable—trade",
"$ 1,542",
"$",
"1,401",
"Accrued liabilities",
"855",
"830",
"Taxes payable",
"199",
"306",
"Notes payable",
"GLYPH<209>",
"2",
"Current maturities of long-term debt",
"73",
"14",
"Total current liabilities",
"2,669",
"2,553",
"LONG-TERM DEBT",
"3,868",
"4,976",
"DEFERRED LIABILITIES AND CREDITS",
"Deferred income taxes",
"1,144",
"1,044",
"Asset retirement obligations",
"462",
"GLYPH<209>",
"Other",
"500",
"440",
"Total deferred liabilities and credits",
"2,106",
"1,484",
"STOCKHOLDERSGLYPH<213> EQUITY",
"Preferred stock, par value $1.00, 20,000 shares authorized",
"7% cumulative mandatory convertible series",
"Authorized—13,500 shares ",
"Issued—13,500 shares in 2003 ($675 liquidation prefer",
"ence)",
"14",
"GLYPH<209>",
"3% cumulative convertible series",
"Authorized—330 shares ",
"Issued—327 shares in 2003 and 2002 ($16 liquidation pr",
"eference)",
"GLYPH<209>",
"GLYPH<209>",
"Common stock, par value $1.00",
"Authorized—200,000 shares",
"Issued—89,868 shares in 2003; 89,193 shares in 2002",
"90",
"89",
"Capital in excess of par value",
"1,603",
"932",
"Retained earnings",
"4,011",
"3,482",
"Accumulated other comprehensive income (loss)",
"(350)",
"(254)",
"Deferred compensation",
"(28)",
"GLYPH<209>",
"Total stockholders’ equity",
"5,340",
"4,249",
"TOTAL LIABILITIES AND STOCKHOLDERSGLYPH<213> EQUITY",
"$13,983",
"$13,262",
"The consolidated GLYPH<222>nancial statements reGLYPH<223>ect",
"the successful efforts method of accounting for oil and gas exploration and production activities.",
"See accompanying notes to consolidated GLYPH<222>nancial statements.",
"35"
] | financial_reports |
|
[
"(1)",
"Summary of Significant Accounting Policies",
"Basis of Presentation and Principles of Consolidation",
"Discontinued West Texas Operations",
"F-8",
"On May 14, 2013, the Company sold the West Texas Properties and certain other undeveloped",
"leases to third parties for proceeds of $823.1 million and realized a gain of $230.0 million which is",
"reflected as a component of income from discontinued operations in 2013. As a result of this divestiture,",
"the consolidated financial statements and the related notes thereto present the results of the Company’s",
"West Texas Properties as discontinued operations. No general and administrative cost incurred by",
"Comstock was allocated to discontinued operations during the periods presented. Unless indicated",
"otherwise, the amounts presented in the accompanying notes to the consolidated financial statements",
"relate to the Company’s continuing operations.",
"In December 2011, the Company completed an acquisition, from an unrelated party, of oil and gas",
"properties in the Delaware Basin located in Reeves County in West Texas (the “West Texas Properties”).",
"The Company acquired proved oil and gas reserves of 25.2 million barrels of oil equivalent and leases",
"covering 43,591 net acres for total cash consideration of $337.9 million. Concurrent with acquiring the",
"West Texas Properties, Comstock entered into a transaction structured as a reverse like-kind exchange in",
"accordance with Section 1031 of the Internal Revenue Code. In connection with this reverse like-kind",
"exchange, Comstock assigned the right to acquire ownership in the oil and gas properties that were",
"acquired to a variable interest entity formed by an exchange accommodation titleholder. Comstock",
"operated these properties pursuant to lease and management agreements with that entity, and had a call",
"option which allowed the Company to terminate the exchange transaction at any time up and until the",
"expiration date of the exchange. The exchange transaction was completed in May 2012 and the variable",
"interest entity was then merged into a wholly owned subsidiary of the Company. Because the Company",
"was the primary beneficiary of these arrangements, all revenues earned and expenses incurred related to",
"the properties were included in the Company’s consolidated results of operations during the term of the",
"agreements.",
"Comstock",
"Resources,",
"Inc.",
"is",
"engaged",
"in",
"oil",
"and",
"natural",
"gas",
"exploration,",
"development",
"and",
"production, and the acquisition of producing oil and natural gas properties. The Company’s operations are",
"primarily focused in Texas and Louisiana. The consolidated financial statements include the accounts of",
"Comstock Resources, Inc. and its wholly owned or controlled subsidiaries (collectively, “Comstock” or",
"the “Company”). The consolidated statement of operations in 2012 includes the accounts of a variable",
"interest entity where the Company was the primary beneficiary of the arrangements. All significant",
"intercompany accounts and transactions have been eliminated in consolidation. The Company accounts",
"for its undivided interest in oil and gas properties using the proportionate consolidation method, whereby",
"its share of assets, liabilities, revenues and expenses are included in its financial statements.",
"Accounting policies used by Comstock Resources, Inc. reflect oil and natural gas industry practices",
"and conform to accounting principles generally accepted in the United States of America.",
"COMSTOCK RESOURCES, INC. AND SUBSIDIARIES",
"NOTES TO CONSOLIDATED FINANCIAL STATEMENTS"
] | financial_reports |
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