- Tribune Company reported a net loss of $4.5 billion for Q2 2008 compared to net income of $36 million in Q2 2007. This was largely due to a $3.8 billion write-down of intangible assets.
- Operating revenues declined 5.7% year-over-year to $1.1 billion in Q2 2008. Operating expenses increased significantly due to the $3.8 billion write-down.
- The company also sold its Newsday Media Group business and recorded a $693 million loss on the disposition in Q2 2008.
Tribune Company reported lower revenues and operating profits in the first quarter of 2008 compared to the same period in 2007. Revenues declined 7.8% to $1.1 billion due to decreases at the Publishing and Broadcasting & Entertainment segments. Overall operating profit fell 21.2% to $143.4 million due to lower profits at Publishing and higher losses at Corporate, partially offset by higher profits at Broadcasting & Entertainment. Net income increased significantly to $1.8 billion primarily due to a large non-operating tax adjustment related to a change in the company's tax status.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2006 compared to the same periods in 2005. Some key highlights:
- Operating revenues and operating profit declined in the third quarter of 2006 compared to 2005, while operating expenses increased slightly.
- Non-operating items contributed significantly to net income in the third quarter of 2006, driven largely by gains from partnerships restructurings and asset sales.
- Income from continuing operations increased substantially, while income from discontinued operations (tv station sales) declined.
- Earnings per share increased for the third quarter and first three quarters of 2006 compared to 2005 periods.
- Tribune Company reported a net loss of $138.9 million for Q3 2001 compared to net income of $79.2 million in Q3 2000. Operating revenues decreased 7% to $1.275 billion.
- Operating profit declined significantly due to restructuring charges of $130.7 million related to workforce reductions. Excluding restructuring charges, operating profit declined 37% to $148.7 million.
- Non-operating losses totaled $144.4 million, driven by losses on derivatives and investment write-downs, compared to a gain of $3.1 million in the prior year.
Tribune Company reported its fourth quarter and full year 2002 results. For the fourth quarter, revenues increased 8% year-over-year and net income increased 24%. Operating profit before restructuring charges increased 33% due to cost reductions. For the full year, revenues increased 2% and net income increased 43% due to restructuring initiatives and asset sales. Earnings per share increased 22% in the fourth quarter and 45% for the full year, reflecting continued improvement.
The Tribune Company saw declines in operating revenues and income from continuing operations in the second quarter of 2007 compared to the same period in 2006. Operating revenues fell 6.8% and income from continuing operations dropped 78.2%. Expenses rose due to restructuring charges and plant closure costs. Non-operating losses also increased significantly due to losses on derivatives and investments. Net income declined 58.7% due to lower operating results and higher non-operating losses.
- Tribune Company reported lower operating revenues and profits for Q2 2006 compared to Q2 2005. Net income decreased 62.4% due to an expected loss from the sale of two television stations.
- Publishing revenues were down slightly but expenses increased, lowering operating cash flow and profit. Broadcasting revenues decreased for television but were flat overall.
- Income from continuing operations fell 29.1% while discontinued operations recorded a loss due to writing down assets of stations being sold. Earnings per share decreased across both continuing and discontinued operations.
The Tribune Company reported financial results for the first quarter of 2007. Operating revenues decreased 4.3% from the prior year to $1.2 billion due to declines in publishing and broadcasting revenues. Operating profit decreased 16.3% to $181 million due to lower revenues and a $76 million loss on derivatives and investments. Net loss was $15.6 million compared to net income of $102.8 million in the prior year, as discontinued operations had a $34.4 million loss from expected sales of newspapers. Advertising revenues declined for publishing, with national down 1.4% and classified down 16%.
The Tribune Company reported its fourth quarter and full year 2004 results. For the fourth quarter, operating revenues increased 1% to $1.48 billion while operating expenses rose 4.3% to $1.12 billion, decreasing operating profit by 7.9%. Net income declined 35.9% to $216.8 million due to lower non-operating gains. For the full year, operating revenues grew 2.4% to $6.1 billion but operating expenses increased 3.5%, reducing operating profit growth to 0.6%. Net income fell 26.5% to $849.4 million due to decreased non-operating gains.
Tribune Company reported lower revenues and operating profits in the first quarter of 2008 compared to the same period in 2007. Revenues declined 7.8% to $1.1 billion due to decreases at the Publishing and Broadcasting & Entertainment segments. Overall operating profit fell 21.2% to $143.4 million due to lower profits at Publishing and higher losses at Corporate, partially offset by higher profits at Broadcasting & Entertainment. Net income increased significantly to $1.8 billion primarily due to a large non-operating tax adjustment related to a change in the company's tax status.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2006 compared to the same periods in 2005. Some key highlights:
- Operating revenues and operating profit declined in the third quarter of 2006 compared to 2005, while operating expenses increased slightly.
- Non-operating items contributed significantly to net income in the third quarter of 2006, driven largely by gains from partnerships restructurings and asset sales.
- Income from continuing operations increased substantially, while income from discontinued operations (tv station sales) declined.
- Earnings per share increased for the third quarter and first three quarters of 2006 compared to 2005 periods.
- Tribune Company reported a net loss of $138.9 million for Q3 2001 compared to net income of $79.2 million in Q3 2000. Operating revenues decreased 7% to $1.275 billion.
- Operating profit declined significantly due to restructuring charges of $130.7 million related to workforce reductions. Excluding restructuring charges, operating profit declined 37% to $148.7 million.
- Non-operating losses totaled $144.4 million, driven by losses on derivatives and investment write-downs, compared to a gain of $3.1 million in the prior year.
Tribune Company reported its fourth quarter and full year 2002 results. For the fourth quarter, revenues increased 8% year-over-year and net income increased 24%. Operating profit before restructuring charges increased 33% due to cost reductions. For the full year, revenues increased 2% and net income increased 43% due to restructuring initiatives and asset sales. Earnings per share increased 22% in the fourth quarter and 45% for the full year, reflecting continued improvement.
The Tribune Company saw declines in operating revenues and income from continuing operations in the second quarter of 2007 compared to the same period in 2006. Operating revenues fell 6.8% and income from continuing operations dropped 78.2%. Expenses rose due to restructuring charges and plant closure costs. Non-operating losses also increased significantly due to losses on derivatives and investments. Net income declined 58.7% due to lower operating results and higher non-operating losses.
- Tribune Company reported lower operating revenues and profits for Q2 2006 compared to Q2 2005. Net income decreased 62.4% due to an expected loss from the sale of two television stations.
- Publishing revenues were down slightly but expenses increased, lowering operating cash flow and profit. Broadcasting revenues decreased for television but were flat overall.
- Income from continuing operations fell 29.1% while discontinued operations recorded a loss due to writing down assets of stations being sold. Earnings per share decreased across both continuing and discontinued operations.
The Tribune Company reported financial results for the first quarter of 2007. Operating revenues decreased 4.3% from the prior year to $1.2 billion due to declines in publishing and broadcasting revenues. Operating profit decreased 16.3% to $181 million due to lower revenues and a $76 million loss on derivatives and investments. Net loss was $15.6 million compared to net income of $102.8 million in the prior year, as discontinued operations had a $34.4 million loss from expected sales of newspapers. Advertising revenues declined for publishing, with national down 1.4% and classified down 16%.
The Tribune Company reported its fourth quarter and full year 2004 results. For the fourth quarter, operating revenues increased 1% to $1.48 billion while operating expenses rose 4.3% to $1.12 billion, decreasing operating profit by 7.9%. Net income declined 35.9% to $216.8 million due to lower non-operating gains. For the full year, operating revenues grew 2.4% to $6.1 billion but operating expenses increased 3.5%, reducing operating profit growth to 0.6%. Net income fell 26.5% to $849.4 million due to decreased non-operating gains.
aetna Download Documentation Form 10-Q 2005 3rdfinance9
This document is a quarterly report filed with the SEC by Aetna Inc. for the quarter ended September 30, 2005. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter, Aetna reported total revenue of $5.7 billion and net income of $377.8 million. For the nine months ended September 30, 2005, Aetna reported total revenue of $16.6 billion and net income of $1.2 billion. The balance sheet shows that as of September 30, 2005, Aetna had total assets of $43.3 billion and total liabilities of $33.9 billion.
The Tribune Company saw a decline in operating revenues and profits in Q3 2007 compared to 2006. However, net income was boosted by $66.95 million in income from discontinued operations. Several non-operating items impacted net income, including $84.97 million in losses on derivatives and investments, but this was offset by $90.7 million in tax benefits. Earnings per share increased significantly year-over-year due to lower outstanding shares.
This document is a Form 10-Q quarterly report filed by Aetna Inc with the SEC for the quarter ended June 30, 2005. It includes financial statements such as the consolidated statements of income, balance sheets, shareholders' equity, and cash flows. The financial statements show that for the quarter Aetna's revenue increased to $5.5 billion, net income increased to $409.7 million, and basic earnings per share increased to $1.41. Total assets increased to $43.1 billion and shareholders' equity increased to $9.4 billion. Cash flows from operations for the first six months of the year were $747.3 million.
- Tribune Company reported its second quarter and first half 2002 results, with operating revenues increasing 1% in the second quarter compared to the previous year.
- Operating profit before restructuring charges was up 16% in the second quarter and 7% in the first half compared to the previous year. However, net income declined due to losses from derivatives and investments.
- Earnings per share were lower than the previous year in the second quarter and first half due to restructuring charges, losses from investments, and a cumulative effect of a change in accounting principle related to impairments of intangible assets.
The document summarizes Tribune Company's financial results for the second quarter and first half of 2004 compared to the same periods in 2003. Key highlights include:
- Operating revenues increased 3.2% in the second quarter and 3.2% in the first half. However, operating profit declined due to higher operating expenses.
- Publishing operating cash flow declined 22.1% in the quarter and 13.4% in the first half due to a 12.8% rise in cash operating expenses.
- Broadcasting/Entertainment operating cash flow rose 7.2% in the quarter and 7.5% in the first half, led by a 7.3% and 8.3% increase in television.
This document summarizes Tribune Company's financial results for the first quarter of 2002 compared to the first quarter of 2001. Some key points:
- Operating revenues decreased 5% to $1.23 billion due to declines in publishing advertising and classified revenues. Operating profit before restructuring charges fell 3% to $251.7 million.
- Restructuring charges of $27.3 million were recorded in the first quarter of 2002 related to cost reduction initiatives.
- Net loss was $101.6 million compared to a net income of $70.6 million in 2001, driven by non-operating losses on investments and the cumulative effect of a change in accounting principle.
- Publishing revenues fell 6
aetna Download Documentation Form 10-Q2007 3rdfinance9
This document is a quarterly report filed by Aetna Inc. with the Securities and Exchange Commission for the quarterly period ended September 30, 2007. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter, Aetna reported total revenue of $6.96 billion, income from continuing operations of $496.7 million, and net income of $496.7 million. For the nine months ended September 30, 2007, Aetna reported total revenue of $20.46 billion, income from continuing operations of $1.38 billion, and net income of $1.38 billion. The balance sheet shows total assets of $50.06 billion and total liabilities
- Tribune Company reported third quarter 2002 revenues of $1.34 billion, up 5% from adjusted 2001 results.
- Operating profit before restructuring charges was $322.2 million in 2002 compared to $207.2 million in adjusted 2001, an increase of 56%.
- Net income for the quarter was $236.8 million compared to a net loss of $85.1 million in adjusted 2001, driven by gains on sales of subsidiaries and non-operating items.
Tribune Company reported financial results for the fourth quarter of 2006 with increases in operating revenues and income from continuing operations compared to the same period in 2005. Operating revenues grew 5.4% to $1.47 billion driven by increases in publishing and broadcasting revenues. Income from continuing operations increased 76.9% to $232.1 million due to higher operating profit and non-operating gains, partially offset by higher interest expense. Net income attributable to common shares grew 80.6% to $239.1 million. Earnings per share increased significantly for both basic and diluted amounts.
This document is a Form 10-Q quarterly report filed by Aetna Inc. with the US Securities and Exchange Commission for the quarter ended June 30, 2006. The summary includes:
- Aetna reported total revenue of $6.25 billion for the quarter, up from $5.5 billion in the prior year quarter.
- Net income was $389.5 million for the quarter, down slightly from $394.9 million in the prior year quarter.
aetna Download Documentation Form 10-Q2008 1stfinance9
This document is Aetna Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes Aetna's consolidated financial statements and notes for the quarter. Some key details include:
- Total revenue for the quarter was $7.7 billion, with net income of $431.6 million.
- The Health Care segment had revenue of $6.3 billion from medical, pharmacy benefits management, dental and vision plans.
- Assets totaled $39.2 billion as of March 31, 2008, with liabilities of $29.3 billion resulting in total shareholders' equity of $9.9 billion.
- Tribune Company reported its second quarter and first half 2001 results, with operating revenues increasing 2% and 29% respectively compared to the same periods in 2000.
- Operating profit declined 21% and 10% for the quarter and first half respectively due to a restructuring charge of $14.3 million.
- Net income increased 92% and 36% for the quarter and first half respectively due to non-operating gains, but income from continuing operations declined 41% and 25% due to the restructuring charge and higher interest expenses.
Tribune Company reported a significant decline in net income for the fourth quarter of 2007 compared to the same period in 2006. Operating revenues decreased 12.4% while operating expenses rose 10.5%, resulting in a 91.8% drop in operating profit. Additionally, the company reported a net loss of $78.8 million for the quarter compared to net income of $239.1 million in the prior year, a decline of 133%. The results were negatively impacted by impairment charges and costs associated with the company's going-private transaction in December 2007.
aetna Download Documentation Form 10-Q2008 2ndfinance9
This document is Aetna Inc.'s Form 10-Q filing for the quarterly period ended June 30, 2008. It includes Aetna's consolidated statements of income and balance sheets for the periods. The filing reports that Aetna's total revenue for the quarter increased to $7.8 billion, up from $6.8 billion in the prior year. Net income for the quarter was $480.5 million, compared to $451.3 million in the prior year. As of June 30, 2008, Aetna's current assets included $830.8 million in cash and cash equivalents, $493.6 million in investments, and $692.7 million in premiums receivable.
This document is Aetna Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. The summary includes:
1) Aetna reported total revenue of $6.2 billion for Q1 2006, up from $5.4 billion in Q1 2005. Net income was $401.7 million compared to $389.3 million in Q1 2005.
2) As of March 31, 2006, Aetna's total assets were $45.7 billion and total liabilities were $35.2 billion, resulting in total shareholders' equity of $10.5 billion.
3) Aetna's cash flows from operating activities
This document is Dover Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Dover's condensed consolidated financial statements for the quarter, including statements of operations, balance sheets, cash flows, and stockholders' equity. It also includes notes to the financial statements regarding the basis of presentation, new accounting pronouncements related to stock-based compensation, and segment information. The report indicates Dover's revenues for the quarter increased 22% to $1.67 billion compared to the same period in 2005.
This document contains Boston Scientific Corporation's consolidated financial statements and notes for 2005. It includes a Management Discussion and Analysis section which provides an overview of the company's financial performance and position in 2005 compared to 2004. Some key highlights include net sales increasing 12% to $6.28 billion in 2005. International sales grew 15% while US sales grew 10%. The company's TAXUS drug-eluting stent sales increased 19% in 2005. The MD&A also discusses net income, cash flows, acquisitions, investments in research and development, and the proposed acquisition of Guidant Corporation.
This document analyzes and summarizes the status and development of China's heparin industry from 2010-2011. It focuses on the heparin API and preparation industries, and highlights major manufacturers in China. Europe and America are the largest export markets for China's heparin API. There are 24 licensed heparin API manufacturers in China, with exports reaching 15.9 trillion units in 2010, accounting for 52.1% of the global market share. The production of heparin preparations, including unfractionated heparin and low-molecular-weight heparin, is still developing in China.
- Tribune Company reported a net loss of $4.5 billion for Q2 2008 compared to net income of $36 million in Q2 2007. This was largely due to a $3.8 billion write-down of intangible assets.
- Operating revenues declined 5.7% year-over-year to $1.1 billion in Q2 2008. Operating expenses increased significantly due to the $3.8 billion write-down.
- For the first half of 2008, Tribune reported a net loss of $2.7 billion compared to net income of $13 million in the first half of 2007, again largely due to the $3.8 billion intangible asset write-down.
This document is Visteon Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2005 filed with the United States Securities and Exchange Commission. It provides an overview of Visteon's business operations, financial statements, legal proceedings, risks factors, and other required disclosures. Key details include that Visteon is an automotive supplier incorporated in Delaware whose common stock is traded on the New York Stock Exchange. Financial statements and notes are provided for the fiscal year ending December 31, 2005 as reviewed by an independent accounting firm. Executive officers and information on controls and procedures are also summarized.
This document contains Boston Scientific Corporation's consolidated financial statements and notes for 2005. It includes a Management Discussion and Analysis section which provides an overview of the company's financial performance and position in 2005 compared to 2004. Some key highlights include net sales increasing 12% to $6.28 billion in 2005. International sales grew 15% while US sales grew 10%. The company's TAXUS drug-eluting stent sales increased 19% in 2005. The MD&A also discusses net income, cash flows, acquisitions, regulatory issues, and the proposed acquisition of Guidant Corporation.
This document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 29, 2007. It provides financial statements and disclosures including the consolidated balance sheet, income statement, statement of cash flows and notes to the financial statements. Key details include total revenues of $2.67 billion for the quarter and $5.23 billion for the six months, net earnings of $311 million for the quarter and $566 million for the six months, and total assets of $13.15 billion as of June 29, 2007.
aetna Download Documentation Form 10-Q 2005 3rdfinance9
This document is a quarterly report filed with the SEC by Aetna Inc. for the quarter ended September 30, 2005. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter, Aetna reported total revenue of $5.7 billion and net income of $377.8 million. For the nine months ended September 30, 2005, Aetna reported total revenue of $16.6 billion and net income of $1.2 billion. The balance sheet shows that as of September 30, 2005, Aetna had total assets of $43.3 billion and total liabilities of $33.9 billion.
The Tribune Company saw a decline in operating revenues and profits in Q3 2007 compared to 2006. However, net income was boosted by $66.95 million in income from discontinued operations. Several non-operating items impacted net income, including $84.97 million in losses on derivatives and investments, but this was offset by $90.7 million in tax benefits. Earnings per share increased significantly year-over-year due to lower outstanding shares.
This document is a Form 10-Q quarterly report filed by Aetna Inc with the SEC for the quarter ended June 30, 2005. It includes financial statements such as the consolidated statements of income, balance sheets, shareholders' equity, and cash flows. The financial statements show that for the quarter Aetna's revenue increased to $5.5 billion, net income increased to $409.7 million, and basic earnings per share increased to $1.41. Total assets increased to $43.1 billion and shareholders' equity increased to $9.4 billion. Cash flows from operations for the first six months of the year were $747.3 million.
- Tribune Company reported its second quarter and first half 2002 results, with operating revenues increasing 1% in the second quarter compared to the previous year.
- Operating profit before restructuring charges was up 16% in the second quarter and 7% in the first half compared to the previous year. However, net income declined due to losses from derivatives and investments.
- Earnings per share were lower than the previous year in the second quarter and first half due to restructuring charges, losses from investments, and a cumulative effect of a change in accounting principle related to impairments of intangible assets.
The document summarizes Tribune Company's financial results for the second quarter and first half of 2004 compared to the same periods in 2003. Key highlights include:
- Operating revenues increased 3.2% in the second quarter and 3.2% in the first half. However, operating profit declined due to higher operating expenses.
- Publishing operating cash flow declined 22.1% in the quarter and 13.4% in the first half due to a 12.8% rise in cash operating expenses.
- Broadcasting/Entertainment operating cash flow rose 7.2% in the quarter and 7.5% in the first half, led by a 7.3% and 8.3% increase in television.
This document summarizes Tribune Company's financial results for the first quarter of 2002 compared to the first quarter of 2001. Some key points:
- Operating revenues decreased 5% to $1.23 billion due to declines in publishing advertising and classified revenues. Operating profit before restructuring charges fell 3% to $251.7 million.
- Restructuring charges of $27.3 million were recorded in the first quarter of 2002 related to cost reduction initiatives.
- Net loss was $101.6 million compared to a net income of $70.6 million in 2001, driven by non-operating losses on investments and the cumulative effect of a change in accounting principle.
- Publishing revenues fell 6
aetna Download Documentation Form 10-Q2007 3rdfinance9
This document is a quarterly report filed by Aetna Inc. with the Securities and Exchange Commission for the quarterly period ended September 30, 2007. It includes Aetna's consolidated financial statements and notes. The financial statements show that for the quarter, Aetna reported total revenue of $6.96 billion, income from continuing operations of $496.7 million, and net income of $496.7 million. For the nine months ended September 30, 2007, Aetna reported total revenue of $20.46 billion, income from continuing operations of $1.38 billion, and net income of $1.38 billion. The balance sheet shows total assets of $50.06 billion and total liabilities
- Tribune Company reported third quarter 2002 revenues of $1.34 billion, up 5% from adjusted 2001 results.
- Operating profit before restructuring charges was $322.2 million in 2002 compared to $207.2 million in adjusted 2001, an increase of 56%.
- Net income for the quarter was $236.8 million compared to a net loss of $85.1 million in adjusted 2001, driven by gains on sales of subsidiaries and non-operating items.
Tribune Company reported financial results for the fourth quarter of 2006 with increases in operating revenues and income from continuing operations compared to the same period in 2005. Operating revenues grew 5.4% to $1.47 billion driven by increases in publishing and broadcasting revenues. Income from continuing operations increased 76.9% to $232.1 million due to higher operating profit and non-operating gains, partially offset by higher interest expense. Net income attributable to common shares grew 80.6% to $239.1 million. Earnings per share increased significantly for both basic and diluted amounts.
This document is a Form 10-Q quarterly report filed by Aetna Inc. with the US Securities and Exchange Commission for the quarter ended June 30, 2006. The summary includes:
- Aetna reported total revenue of $6.25 billion for the quarter, up from $5.5 billion in the prior year quarter.
- Net income was $389.5 million for the quarter, down slightly from $394.9 million in the prior year quarter.
aetna Download Documentation Form 10-Q2008 1stfinance9
This document is Aetna Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes Aetna's consolidated financial statements and notes for the quarter. Some key details include:
- Total revenue for the quarter was $7.7 billion, with net income of $431.6 million.
- The Health Care segment had revenue of $6.3 billion from medical, pharmacy benefits management, dental and vision plans.
- Assets totaled $39.2 billion as of March 31, 2008, with liabilities of $29.3 billion resulting in total shareholders' equity of $9.9 billion.
- Tribune Company reported its second quarter and first half 2001 results, with operating revenues increasing 2% and 29% respectively compared to the same periods in 2000.
- Operating profit declined 21% and 10% for the quarter and first half respectively due to a restructuring charge of $14.3 million.
- Net income increased 92% and 36% for the quarter and first half respectively due to non-operating gains, but income from continuing operations declined 41% and 25% due to the restructuring charge and higher interest expenses.
Tribune Company reported a significant decline in net income for the fourth quarter of 2007 compared to the same period in 2006. Operating revenues decreased 12.4% while operating expenses rose 10.5%, resulting in a 91.8% drop in operating profit. Additionally, the company reported a net loss of $78.8 million for the quarter compared to net income of $239.1 million in the prior year, a decline of 133%. The results were negatively impacted by impairment charges and costs associated with the company's going-private transaction in December 2007.
aetna Download Documentation Form 10-Q2008 2ndfinance9
This document is Aetna Inc.'s Form 10-Q filing for the quarterly period ended June 30, 2008. It includes Aetna's consolidated statements of income and balance sheets for the periods. The filing reports that Aetna's total revenue for the quarter increased to $7.8 billion, up from $6.8 billion in the prior year. Net income for the quarter was $480.5 million, compared to $451.3 million in the prior year. As of June 30, 2008, Aetna's current assets included $830.8 million in cash and cash equivalents, $493.6 million in investments, and $692.7 million in premiums receivable.
This document is Aetna Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. The summary includes:
1) Aetna reported total revenue of $6.2 billion for Q1 2006, up from $5.4 billion in Q1 2005. Net income was $401.7 million compared to $389.3 million in Q1 2005.
2) As of March 31, 2006, Aetna's total assets were $45.7 billion and total liabilities were $35.2 billion, resulting in total shareholders' equity of $10.5 billion.
3) Aetna's cash flows from operating activities
This document is Dover Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Dover's condensed consolidated financial statements for the quarter, including statements of operations, balance sheets, cash flows, and stockholders' equity. It also includes notes to the financial statements regarding the basis of presentation, new accounting pronouncements related to stock-based compensation, and segment information. The report indicates Dover's revenues for the quarter increased 22% to $1.67 billion compared to the same period in 2005.
This document contains Boston Scientific Corporation's consolidated financial statements and notes for 2005. It includes a Management Discussion and Analysis section which provides an overview of the company's financial performance and position in 2005 compared to 2004. Some key highlights include net sales increasing 12% to $6.28 billion in 2005. International sales grew 15% while US sales grew 10%. The company's TAXUS drug-eluting stent sales increased 19% in 2005. The MD&A also discusses net income, cash flows, acquisitions, investments in research and development, and the proposed acquisition of Guidant Corporation.
This document analyzes and summarizes the status and development of China's heparin industry from 2010-2011. It focuses on the heparin API and preparation industries, and highlights major manufacturers in China. Europe and America are the largest export markets for China's heparin API. There are 24 licensed heparin API manufacturers in China, with exports reaching 15.9 trillion units in 2010, accounting for 52.1% of the global market share. The production of heparin preparations, including unfractionated heparin and low-molecular-weight heparin, is still developing in China.
- Tribune Company reported a net loss of $4.5 billion for Q2 2008 compared to net income of $36 million in Q2 2007. This was largely due to a $3.8 billion write-down of intangible assets.
- Operating revenues declined 5.7% year-over-year to $1.1 billion in Q2 2008. Operating expenses increased significantly due to the $3.8 billion write-down.
- For the first half of 2008, Tribune reported a net loss of $2.7 billion compared to net income of $13 million in the first half of 2007, again largely due to the $3.8 billion intangible asset write-down.
This document is Visteon Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2005 filed with the United States Securities and Exchange Commission. It provides an overview of Visteon's business operations, financial statements, legal proceedings, risks factors, and other required disclosures. Key details include that Visteon is an automotive supplier incorporated in Delaware whose common stock is traded on the New York Stock Exchange. Financial statements and notes are provided for the fiscal year ending December 31, 2005 as reviewed by an independent accounting firm. Executive officers and information on controls and procedures are also summarized.
This document contains Boston Scientific Corporation's consolidated financial statements and notes for 2005. It includes a Management Discussion and Analysis section which provides an overview of the company's financial performance and position in 2005 compared to 2004. Some key highlights include net sales increasing 12% to $6.28 billion in 2005. International sales grew 15% while US sales grew 10%. The company's TAXUS drug-eluting stent sales increased 19% in 2005. The MD&A also discusses net income, cash flows, acquisitions, regulatory issues, and the proposed acquisition of Guidant Corporation.
This document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 29, 2007. It provides financial statements and disclosures including the consolidated balance sheet, income statement, statement of cash flows and notes to the financial statements. Key details include total revenues of $2.67 billion for the quarter and $5.23 billion for the six months, net earnings of $311 million for the quarter and $566 million for the six months, and total assets of $13.15 billion as of June 29, 2007.
The document is Extreme Networks' annual report (Form 10-K) filed with the SEC. It provides an overview of the company and discusses its strategy, products, industry trends, and financial results. Specifically, it notes that Extreme Networks provides Ethernet networking equipment and services for enterprises, data centers, and service providers. It aims to offer simple, high-performance, and cost-effective switching solutions. The company focuses on expanding in high-growth verticals like the mobile campus and data center markets.
Tribune Company reported lower revenues and operating profits in the first quarter of 2008 compared to the same period in 2007. Revenues declined 7.8% to $1.1 billion due to decreases in publishing and radio/entertainment revenues. Operating profit fell 21.2% to $143.4 million as profits declined across all business segments. The publishing segment saw the largest profit drop, with operating profit declining 73.9% due to lower revenues and higher severance costs.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2005 compared to the same periods in 2004. Key points:
- Operating revenues and operating profit increased in the third quarter of 2005 but decreased for the first three quarters compared to the prior year.
- Net income decreased significantly for the third quarter but increased for the first three quarters of 2005 versus 2004.
- Earnings per share decreased substantially for the third quarter but increased for the first three quarters compared to the previous year.
Tribune Company reported significantly lower net income and operating profit for the fourth quarter and full year of 2007 compared to the same periods in 2006. Operating revenues declined 12.4% in the fourth quarter and 7.0% for the full year, due to lower advertising and circulation revenues. Operating expenses increased in both periods due to impairment charges and restructuring costs. Non-operating expenses also increased for strategic transaction and investment losses. Income from continuing operations declined substantially year-over-year as a result of these factors.
- Tribune Company reported a 3.4% increase in operating revenues but a 2.5% decrease in operating profit for the third quarter of 2003 compared to the same period in 2002.
- Net income decreased 23.0% to $182.3 million due primarily to lower non-operating gains.
- For the first three quarters of 2003, operating revenues rose 4.3% while operating profit before restructuring charges increased 4.7% compared to the same period in 2002. However, net income increased significantly due to the absence of a large accounting charge in 2002.
The Tribune Company reported financial results for the third quarter and first three quarters of 2004. For the third quarter, operating revenues increased 2.0% but operating profit decreased 18.0% due to higher operating expenses. Net income attributable to common shares decreased 32.1% due to lower operating profit and higher non-operating losses. For the first three quarters, operating revenues increased 2.8% but operating profit decreased 11.5% and net income attributable to common shares decreased 37.8% due to factors similar to those impacting the third quarter results.
The Tribune Company reported financial results for the third quarter of 2007. Operating revenues decreased 4.1% compared to the third quarter of 2006. Net income was $152.8 million compared to $164.3 million in the prior year. Earnings per share increased due to gains from discontinued operations. Non-operating expenses included losses from derivatives and strategic transaction costs, but were partially offset by tax benefits.
Tribune Company reported first quarter results for 2005. Operating revenues decreased 1.2% compared to the same period last year. Operating profit decreased 7.8% due to higher operating expenses and non-operating losses. Net income increased 18.4% due to lower income tax expenses from resolving certain tax issues. Earnings per share increased 22.2% for basic and 25.7% for diluted.
The Tribune Company reported financial results for the first quarter of 2006, with operating revenues down 1.3% from the same period in 2005. Operating profit declined 11.6% due to higher operating expenses and non-operating losses. Net income decreased 28.1% while earnings per share fell 25%. Publishing operating profit dropped 12.2% on lower revenues, and Broadcasting/Entertainment operating profit rose 3% despite declines in some segments.
The Tribune Company reported financial results for the fourth quarter and full year of 2003. Operating revenues increased 2.8% in the fourth quarter and 3.9% for the full year compared to the prior year. Net income increased 74.8% in the fourth quarter and 101.2% for the full year due largely to gains on investments and derivatives. Earnings per share increased 73.8% in the fourth quarter on a basic basis and 75.4% on a diluted basis.
- Xcel Energy Inc. filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- The report includes unaudited financial statements and disclosures including the consolidated statements of income, cash flows, and balance sheets for the quarter.
- Key results include net income of $153 million for the quarter, operating revenues of $3 billion, and total assets of $23.4 billion as of March 31, 2008.
This document summarizes Tribune Company's fourth quarter and full year 2005 results. Key details include:
- Operating revenues decreased 4.7% in the fourth quarter and 2.3% for the full year compared to the previous year.
- Operating expenses increased 2.7% in the fourth quarter due to restructuring charges but decreased 1.3% for the full year.
- Net income decreased 38.0% in the fourth quarter and 3.8% for the full year from the previous year.
Verizon Reports Sustained Revenue Growth and Continued Strong Cash Flows fo...finance2
This document summarizes Verizon Communications' consolidated statements of income for the fourth quarter and full year of 2008. Some key details:
- For Q4 2008, total operating revenues increased 3.4% to $24.6 billion and net income increased 15.2% to $1.24 billion compared to Q4 2007.
- For the full year 2008, total operating revenues increased 4.2% to $97.4 billion and net income increased 16.4% to $6.43 billion compared to 2007.
The document provides financial results for the third quarter and first nine months of 2008 for the total company and automotive sector. It summarizes that:
- For the total company, pre-tax and after-tax results from continuing operations declined from the third quarter and first nine months of 2007. Special items improved pre-tax and after-tax results.
- For the automotive sector, gross cash declined by $7.7 billion in the third quarter and $15.7 billion in the first nine months due to negative operating-related cash flow and other cash outflows. Available liquidity as of September 30, 2008 was $29.6 billion.
The Tribune Company reported financial results for the second quarter and first half of 2005. For the second quarter, revenues decreased 2.3% but operating expenses fell 4.5%, leading to a 6.1% rise in operating profit. Net income increased 142.1% to $233 million due to gains from investments. Earnings per share rose 151.7% to $0.73. For the first half, revenues declined 1.8% while operating expenses fell 2.2%, keeping operating profit flat. Net income increased 73.3% to $376 million and earnings per share rose 81.5% to $1.18, helped by investment gains.
This document is a quarterly report filed by TJX Companies Inc. with the SEC. It includes financial statements and notes for the first quarter ended July 28, 2007. Some key details include:
- Net sales for the quarter increased to $4.3 billion, up from $4 billion in the prior year.
- Income from continuing operations was $59 million compared to $139 million in the previous year.
- The balance sheet shows total assets of $6.6 billion including $3.1 billion in merchandise inventories and $533 million in cash. Total liabilities were $2.9 billion and shareholders' equity was $2.2 billion.
hess 7/30/2008 Estimated Results for the Second Quarter of 2008finance8
Hess Corporation reported its estimated financial results for the second quarter of 2008. Net income was $900 million, up from $557 million in the second quarter of 2007. Oil and gas production increased 4% compared to the second quarter of 2007. Exploration and Production earnings were $1,025 million, up significantly from $505 million in the second quarter of 2007 due to higher oil and gas prices and increased production volumes. However, Marketing and Refining lost $52 million compared to a profit of $122 million in the prior year period due to lower margins and trading results.
Maxim Integrated Products reported financial results for its second quarter of fiscal year 2009. Revenue declined 18% from the previous quarter to $410.7 million. The company reported a GAAP loss per share of $0.12, which included $125.9 million in special expenses. Cash flow from operations was $71.5 million. For the third quarter of fiscal year 2009, the company expects revenue in the range of $290-330 million and GAAP loss per share including special expenses and stock-based compensation.
This document is Dover Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2007. It includes Dover's condensed consolidated financial statements and notes for the quarter, as well as management's discussion and analysis of financial condition and results of operations. Some key details include:
- Revenue for the quarter was $1.78 billion, up 18% from the same period in 2006.
- Net earnings for the quarter were $128.9 million, down from $203.8 million in the prior year due to a loss from discontinued operations.
- Cash flow from operating activities was $61.1 million for the quarter.
The document summarizes Tribune Company's fourth quarter and full year 2001 financial results. Some key points:
- Operating revenues and profits declined in the fourth quarter and full year 2001 compared to 2000, due to lower advertising revenues and restructuring charges.
- Non-operating items included gains from changes in fair values of investments and sales of investments, but also losses from investment write-downs.
- For the full year, net income declined 50% to $111 million, while earnings per share fell 60% to $0.28, due to lower operating results and restructuring charges.
The Tribune Company reported financial results for the second quarter and first half of 2003. Operating revenues increased 5.0% in the second quarter and 4.8% in the first half compared to the prior year. Net income more than doubled in the second quarter and was significantly higher in the first half due to gains on investments. Earnings per share increased substantially in both periods. Publishing operating profit rose 4.7% in the quarter and 11.7% in the first half, while Broadcasting operating profit increased 15.0% and 16.9% respectively.
western unionCorporate Governance Guidelinesfinance47
The Board of Directors is responsible for overseeing Western Union and selecting the CEO and other executive management. The Board's primary functions are oversight, ethics and integrity, evaluating performance, reviewing strategic plans, advising management, and ensuring compliance. The Board establishes committees, evaluates itself, and plans for CEO succession to fulfill its responsibilities.
western unionRelated Person Transactions Policy finance47
The policy establishes guidelines for approving related person transactions between the company and its directors, executive officers, or significant shareholders. It requires that all related person transactions be approved or ratified by the Corporate Governance Committee or disinterested members of the Board. The committee must consider factors like the transaction's size, the related person's interest, potential conflicts, and whether comparable terms could be obtained from an unaffiliated third party. Ongoing related person transactions are also subject to annual review. All approved transactions must be disclosed as required by securities laws.
The document summarizes Western Union's 2006 annual report. It highlights that Western Union has a 150-year history of connecting people around the world through money transfers, with its brand synonymous with speed, trust, reliability and convenience. It processes nearly 150 million consumer-to-consumer transactions annually, accounting for over 80% of its revenue. It is also expanding its consumer-to-business services to allow bill payments, having recently acquired a company in Argentina, as it looks to increase diversification and growth opportunities.
Western Union had a very successful 2007 financially, with revenue, operating profit, and cash flow from operating activities all reaching record highs and growing at double-digit annual rates. The company strengthened its global network by increasing its number of agent locations worldwide to over 335,000 across more than 200 countries and territories. International consumer-to-consumer money transfers now make up 65% of Western Union's total revenue, demonstrating the company's increasing global reach and focus on serving migrant populations worldwide. Western Union aims to continue growing this business segment and meeting the evolving financial needs of global consumers.
Western Union's 2008 annual report summarizes the company's strong financial performance in 2008. The company delivered record revenue of $5.3 billion and cash flow from operations of $1.25 billion. Western Union's share of the global cross-border remittance market increased to 17% in 2008. Looking ahead, the company plans to focus on accelerating profitable growth, expanding payments services, innovating new products, and improving profitability through cost reductions.
Hershey Foods Corporation saw decreased sales and net income in 1999 compared to 1998. Sales declined due to the divestiture of the pasta business in early 1999 and difficulties fulfilling orders after implementing a new IT system. Net income increased due to a gain on the pasta sale, but excluding this was down 13% due to the sales decline and higher costs. The financial position remained strong with reduced debt from the pasta sale proceeds. Capital expenditures of $150-170 million annually are planned for manufacturing expansion and modernization.
Hershey Foods Corporation saw decreased sales and net income in 1999 compared to 1998. Sales declined due to the divestiture of the pasta business in early 1999 and difficulties fulfilling orders after implementing a new IT system. Net income increased due to a gain on the pasta sale, but excluding this was down 13% due to the sales decline and higher costs. The financial position remained strong with reduced debt from the pasta sale proceeds. Capital expenditures of $150-170 million annually are planned for manufacturing expansion and modernization.
This document provides an analysis of Hershey Foods Corporation's financial condition and results of operations. It discusses increases in net sales and gross margin from 1999 to 2000 primarily due to lower raw material costs. Selling and administrative expenses also increased from 1999 to 2000 due to higher marketing and staffing costs. In 2000, Hershey acquired Nabisco's mint and gum businesses for $135 million. The acquisition increased assets but did not materially impact 2000 results. Cash flow from operations and prior asset sales exceeded capital expenditures, share repurchases and dividends. Liquidity remains strong with continued capital investments planned.
1) Net sales for Hershey Foods Corporation increased 6% from 1999 to 2000 due to higher core confectionery and grocery product sales in North America, new product introductions, and lower returns and discounts. Net sales decreased 10% from 1998 to 1999 primarily due to the sale of the pasta business.
2) Gross margin increased from 40.7% in 1999 to 41.5% in 2000 due to lower raw material costs and returns/discounts, but was partially offset by higher distribution costs. Gross margin decreased from 40.8% in 1998 to 40.7% in 1999 due to product mix and higher distribution costs.
3) Net income decreased 27% from 1999 to 2000 due to the 1999
- Hershey Foods Corporation produces and distributes a broad line of chocolate and non-chocolate confectionery and grocery products.
- Net sales rose in 2001 primarily due to acquisitions of mint and gum businesses and new product introductions. Net sales also rose in 2000 due to increased sales of base confectionery products.
- Gross margin was unchanged at 41.5% in 2000 and 2001. Excluding one-time charges, gross margin rose to 42.6% in 2001 due to lower costs and supply chain efficiencies.
- Hershey Foods Corporation produces and distributes a broad line of chocolate and non-chocolate confectionery and grocery products.
- Net sales rose in 2001 primarily due to acquisitions of mint and gum businesses and new product introductions. Net sales also rose in 2000 due to increased sales of base confectionery products.
- Gross margin was unchanged at 41.5% in 2000 and 2001. Excluding one-time charges, gross margin rose to 42.6% in 2001 due to lower costs and supply chain efficiencies.
Hershey Foods Corporation manufactures and distributes confectionery and grocery products. In 2002, the company's net sales decreased from 2001 primarily due to increased promotion costs, divestitures of some brands, and the timing of sales from an acquired gum and mint business. Cost of sales also decreased in 2002 from 2001 mainly because of lower costs for raw materials. However, gross margin increased due to decreased raw material costs and supply chain efficiencies. Selling, marketing, and administrative expenses decreased slightly in 2002 driven by savings from business realignment initiatives and the elimination of goodwill amortization, partially offset by expenses to explore a possible sale of the company.
Hershey Foods Corporation manufactures and distributes confectionery and grocery products. Net sales decreased in 2002 due to increased promotion costs, divestitures, and sluggish retail conditions. Cost of sales decreased due to lower raw material costs and supply chain efficiencies. In late 2001, the company approved a business realignment plan to improve efficiency, including outsourcing manufacturing, rationalizing product lines, improving supply chain, and workforce reductions, generating $75-80 million in annual savings. Charges of $312 million were recorded for these initiatives.
- Hershey Foods Corporation manufactures and sells confectionery and grocery products. In 2003, the company saw increased net sales and net income compared to 2002 through strategies focusing on key brands, gross margin expansion, and earnings growth per share.
- The company's strategies over a three-year period resulted in increased sales, gross margins, and returns through price increases, improved sales mix, lower costs, and share repurchases. However, challenges remain in driving profitable core confectionery growth and portfolio evolution.
- Hershey Foods Corporation manufactures and sells confectionery and grocery products. In 2003, the company saw increased net sales and income compared to 2002 through strategies focused on key brands, gross margin expansion, and earnings growth per share.
- Primary challenges for 2004 and beyond include profitable sales growth in core confectionery and broader snacks, evolving the product portfolio to meet consumer trends, and balancing growth and profit in seasonal and packaged candy businesses. The company expects continued revenue growth, margin expansion, and earnings growth per share through focus on these strategies.
This document is Hershey Foods Corporation's 2003 annual report and proxy statement to shareholders. It discusses Hershey's financial performance in 2003, including 13% earnings per share growth and continued gross margin expansion. It outlines the company's strategy of investing in core brands and expanding into snack market adjacencies. Key initiatives included restructuring the US sales force, creating a US Snack Group, and launching new better-for-you snack products. The report also discusses governance improvements and leadership changes on the board and in management.
This document is Hershey Foods Corporation's 2003 annual report and proxy statement to shareholders. It discusses Hershey's financial performance in 2003, including 13% earnings per share growth and continued margin expansion. It outlines the company's strategy of investing in core brands and expanding into snack market adjacencies. Key initiatives included restructuring the US sales force, creating a US Snack Group, and launching new better-for-you snack products. The report also discusses governance improvements and leadership changes on the board and in management.
This document is a Form 10-K annual report filed by Hershey Foods Corporation with the SEC for the fiscal year ending December 31, 2004. It provides information on Hershey's business operations, products, sales, marketing strategies, distribution networks, raw material costs, and price increases. Key details include that Hershey manufactures and sells over 50 brands of confectionery, snack, refreshment and grocery products in North America and other countries. It sources cocoa beans, its primary raw material, from various global regions.
This document is a Form 10-K annual report filed by Hershey Foods Corporation with the SEC for the fiscal year ending December 31, 2004. It provides information on Hershey's business operations, products, sales, distribution, raw materials, and pricing. Key details include: Hershey manufactures and sells confectionery, snack, refreshment and grocery products worldwide; its major brands include Hershey's, Reese's, and Kit Kat; cocoa beans are its primary raw material; and it announced price increases on half its domestic confectionery line in late 2004 and early 2005.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
South Dakota State University degree offer diploma Transcriptynfqplhm
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1. TRIBUNE COMPANY
SECOND QUARTER RESULTS OF OPERATIONS (Unaudited)
(In thousands)
SECOND QUARTER (A)
%
2008 2007 Change
OPERATING REVENUES $ 1,109,809 $ 1,176,537 (5.7)
OPERATING EXPENSES (B)
Before Write-downs of Intangible Assets 941,340 1,001,439 (6.0)
Write-downs of Intangible Assets 3,843,111 - NM
After Write-downs of Intangible Assets 4,784,451 1,001,439 NM
OPERATING PROFIT (LOSS) (C)
Before Write-downs of Intangible Assets 168,469 175,098 (3.8)
Write-downs of Intangible Assets (3,843,111) - NM
After Write-downs of Intangible Assets (3,674,642) 175,098 NM
Net Income on Equity Investments (D) 18,172 28,710 (36.7)
Interest and Dividend Income 3,196 3,827 (16.5)
Interest Expense (211,055) (112,408) 87.8
Non-Operating Items (E) 26,154 (30,343) NM
Income (Loss) from Continuing Operations Before Income Taxes (3,838,175) 64,884 NM
Income Taxes 8,912 (29,614) NM
Income (Loss) from Continuing Operations (3,829,263) 35,270 NM
Income (Loss) from Discontinued Operations, net of tax (F) (704,686) 1,006 NM
NET INCOME (LOSS) $ (4,533,949) $ 36,276 NM
8
2. (A) 2008 second quarter: Mar. 31, 2008 to June 29, 2008. (13 weeks)
2007 second quarter: Apr. 2, 2007 to July 1, 2007. (13 weeks)
(B) Operating expenses for the second quarter of 2008 included charges of $3.8 billion for the write-downs of the Company's newspaper reporting unit goodwill
and newspaper masthead intangible assets, a charge of $15 million at publishing for severance and special termination benefits, a charge of $5 million
related to the Company's management equity incentive plan, and a gain of $23 million related to the sale of real estate.
Operating expenses for the second quarter of 2007 included a charge of $27 million for severance ($25 million at publishing and $2 million at corporate), a charge
of $8 million for stock-based compensation expense, and a charge of $24 million for the write-off of Los Angeles Times plant equipment related to the previously
closed San Fernando Valley facility.
(C) Operating profit excludes interest and dividend income, interest expense, equity income and losses, non-operating items and income taxes.
(D) Net income on equity investments for the second quarter 2008 included a $13 million impairment write-down at one of the Company's interactive investments.
(E) The second quarter of 2008 included the following non-operating items:
Pretax After-tax
Gain (Loss) Gain (Loss)
Gain on PHONES and related investment (1) $ 36,440 $ 36,010
Write-down of equity investment (2) (10,312) (10,190)
Other, net 26 25
Total non-operating items $ 26,154 $ 25,845
The second quarter of 2007 included the following non-operating items:
Pretax After-tax
Gain (Loss) Gain (Loss)
Loss on PHONES and related investment (1) $ (27,395) $ (16,711)
Strategic transaction expenses (3) (20,926) (15,659)
Other, net (4) 17,978 10,966
Total non-operating items $ (30,343) $ (21,404)
(1) The gain on PHONES and related investment in the second quarter of 2008 represented primarily the change in fair values of the Company's PHONES and
the related Time Warner shares. Effective Dec. 31, 2007, the Company has elected to account for its PHONES utilizing the fair value option under Financial
Accounting Standards Board Statement No. 159, quot;The Fair Value Option for Financial Assets and Financial Liabilities.quot; As a result of this election, the
Company no longer measures the changes in fair value of just the derivative component of the PHONES, but instead measures the changes in fair value
of the entire PHONES debt. The loss on PHONES and related investment in the second quarter of 2007 represented primarily the change in fair values of the
derivative component of the Company's PHONES and the related Time Warner shares.
(2) On June 30, 2008, the Company received net proceeds of $22 million from the sale of its investment in ShopLocal, LLC. The Company recorded a write-down
of $10 million in the second quarter of 2008 to reduce the carrying value of the investment to the amount of net proceeds received.
(3) Includes expenses related to the Company's strategic review and going-private transaction approved by the Company's board of directors on April 1, 2007
and completed in December 2007. These expenses included a $13.5 million pretax loss from refinancing certain credit agreements.
(4) Other, net in the second quarter of 2007 included an $18 million pretax gain from the settlement of the Company's Hurricane Katrina insurance claim.
(F) In May 2008, the Company announced an agreement with a subsidiary of Cablevision Systems Corporation to form a new limited liability company (quot;Newsday LLCquot;)
to own and operate the Company's Newsday Media Group business (quot;NMGquot;). The Company closed on this transaction on July 29, 2008 and recorded a pretax
loss of $692 million ($693 million after taxes) in the second quarter of 2008 to write down the net assets of NMG to estimated fair value. At the closing, the Company
received a special distribution from the limited liability company of $612 million in cash and $18 million in prepaid rent under leases for certain NMG facilities retained
by the Company. Tribune owns approximately 3% of the equity in Newsday LLC. In February 2007, the Company announced an agreement to sell the New York
edition of Hoy , the Company's Spanish-language daily newspaper (quot;Hoy , New Yorkquot;). The sale of Hoy , New York closed in May 2007. In March 2007, the Company
announced its intentions to sell its Southern Connecticut Newspapers— The Advocate (Stamford) and Greenwich Time (collectively quot;SCNIquot;). The sale of SCNI
closed on November 1, 2007, and excluded the SCNI real estate in Stamford and Greenwich, Connecticut, which was sold in a separate transaction that closed on
April 22, 2008. During the third quarter of 2007, the Company entered into negotiations to sell the stock of one of its subsidiaries, EZ Buy and EZ Sell Recycler
Corporation (quot;Recyclerquot;). The sale of Recycler closed on Oct. 17, 2007. Selected financial information related to discontinued operations is summarized as follows:
Second Quarter
2008 2007
Income (loss) from operations, net of tax $ (11,484) $ 888
Gain (loss) on dispositions, net of tax (1) (693,202) 118
Total $ (704,686) $ 1,006
(1) In the second quarter of 2008, the Company recorded an after-tax loss of $693 million to write down the net assets of NMG to estimated fair value.
9
3. TRIBUNE COMPANY
FIRST HALF RESULTS OF OPERATIONS
(In thousands)
FIRST HALF (A)
%
2008 2007 Change
OPERATING REVENUES $ 2,115,588 $ 2,264,234 (6.6)
OPERATING EXPENSES (B)
Before Write-downs of Intangible Assets 1,802,200 1,921,805 (6.2)
Write-downs of Intangible Assets 3,843,111 - NM
After Write-downs of Intangible Assets 5,645,311 1,921,805 NM
OPERATING PROFIT (LOSS) (C)
Before Write-downs of Intangible Assets 313,388 342,429 (8.5)
Write-downs of Intangible Assets (3,843,111) - NM
After Write-downs of Intangible Assets (3,529,723) 342,429 NM
Net Income on Equity Investments (D) 34,929 41,394 (15.6)
Interest and Dividend Income 7,126 6,979 2.1
Interest Expense (463,004) (195,658) 136.6
Non-Operating Items (E) 95,175 (111,058) NM
Income (Loss) from Continuing Operations Before Income Taxes (3,855,497) 84,086 NM
Income Taxes (E) 1,862,752 (43,152) NM
Income (Loss) from Continuing Operations (1,992,745) 40,934 NM
Income (Loss) from Discontinued Operations, net of tax (F) (717,742) (27,953) NM
NET INCOME (LOSS) $ (2,710,487) $ 12,981 NM
10
4. (A) 2008 first half: Dec. 31, 2007 to June 29, 2008. (26 weeks)
2007 first half: Jan. 1, 2007 to July 1, 2007. (26 weeks)
(B) Operating expenses for the first half of 2008 included charges of $3.8 billion for the write-downs of the Company's newspaper reporting unit goodwill
and newspaper masthead intangible assets, a charge of $71 million for severance and special termination benefits ($45 million at publishing, $17 million
at corporate, and $9 million at broadcasting and entertainment), a charge of $13 million related to the Company's management equity incentive plan, a
gain of $83 million related to the sale of the Company's studio production lot located in Hollywood, California, and a gain of $23 million related to the
sale of other real estate.
Operating expenses for the first half of 2007 included a charge of $28 million for severance ($25 million at publishing and $3 million at corporate), a
charge of $26 million for stock-based compensation expense, and a charge of $24 million for the write-off of Los Angeles Times plant equipment related
to the previously closed San Fernando Valley facility.
(C) Operating profit excludes interest and dividend income, interest expense, equity income and losses, non-operating items and income taxes.
(D) Net income on equity investments for the first half of 2008 included a $13 million impairment write-down at one of the Company's interactive investments.
(E) The first half of 2008 included the following non-operating items:
Pretax After-tax
Gain (Loss) Gain (Loss)
Gain on PHONES and related investment (1) $ 106,320 $ 105,065
Write-down of equity investment (2) (10,312) (10,190)
Other, net (833) (1,047)
Income tax adjustment (3) - 1,859,358
Total non-operating items $ 95,175 $ 1,953,186
The first half of 2007 included the following non-operating items:
Pretax After-tax
Gain (Loss) Gain (Loss)
Loss on PHONES and related investment (1) $ (97,175) $ (59,277)
Strategic transaction expenses (4) (35,398) (29,428)
Other, net (5) 21,515 13,123
Total non-operating items $ (111,058) $ (75,582)
(1) The gain on PHONES and related investment in the first half of 2008 represented primarily the change in fair values of the Company's PHONES and
the related Time Warner shares. Effective Dec. 31, 2007, the Company has elected to account for its PHONES utilizing the fair value option under Financial
Accounting Standards Board Statement No. 159, quot;The Fair Value Option for Financial Assets and Financial Liabilities.quot; As a result of this election, the
Company no longer measures the changes in fair value of just the derivative component of the PHONES, but instead measures the changes in fair value
of the entire PHONES debt. The loss on PHONES and related investment in the first half of 2007 represented primarily the change in fair values of the
derivative component of the Company's PHONES and the related Time Warner shares.
(2) On June 30, 2008, the Company received net proceeds of $22 million from the sale of its investment in ShopLocal, LLC. The Company recorded a write-down
of $10 million in the second quarter of 2008 to reduce the carrying value of the investment to the amount of net proceeds received.
(3) In the first quarter of 2008, the Company filed an election to be treated as a subchapter S corporation. As a result, essentially all of the Company's net
deferred tax liabilities have been eliminated and such adjustment was recorded as a reduction in the Company's provision for income tax expense in the
first quarter of 2008.
(4) Includes expenses related to the Company's strategic review and going-private transaction approved by the Company's board of directors on April 1, 2007
and completed in December 2007. These expenses included a $13.5 million pretax loss from refinancing certain credit agreements.
(5) Other, net in the first half of 2007 included an $18 million pretax gain from the settlement of the Company's Hurricane Katrina insurance claim.
(F) In May 2008, the Company announced an agreement with a subsidiary of Cablevision Systems Corporation to form a new limited liability company (quot;Newsday LLCquot;)
to own and operate the Company's Newsday Media Group business (quot;NMGquot;). The Company closed on this transaction on July 29, 2008 and recorded a pretax
loss of $692 million ($693 million after taxes) in the second quarter of 2008 to write down the net assets of NMG to estimated fair value. At the closing, the Company
received a special distribution from the limited liability company of $612 million in cash and $18 million in prepaid rent under leases for certain NMG facilities retained
by the Company. Tribune owns approximately 3% of the equity in Newsday LLC. In February 2007, the Company announced an agreement to sell the New York
edition of Hoy , the Company's Spanish-language daily newspaper (quot;Hoy , New Yorkquot;). The sale of Hoy , New York closed in May 2007. In March 2007, the Company
announced its intentions to sell its Southern Connecticut Newspapers— The Advocate (Stamford) and Greenwich Time (collectively quot;SCNIquot;). The sale of SCNI
closed on November 1, 2007, and excluded the SCNI real estate in Stamford and Greenwich, Connecticut, which was sold in a separate transaction that closed on
April 22, 2008. During the third quarter of 2007, the Company entered into negotiations to sell the stock of one of its subsidiaries, EZ Buy and EZ Sell Recycler
Corporation (quot;Recyclerquot;). The sale of Recycler closed on Oct. 17, 2007. Selected financial information related to discontinued operations is summarized as follows:
First Half
2008 2007
Income (loss) from operations, net of tax $ (24,033) $ 5,101
Loss on dispositions, net of tax (1) (2) (693,709) (33,054)
Total $ (717,742) $ (27,953)
(1) In the first half of 2008, the Company recorded an after-tax loss of $693 million to write down the net assets of NMG to estimated fair value.
(2) In the first half of 2007, the Company recorded an after-tax loss of $33 million to write down the SCNI net assets to estimated fair value, less costs to sell.
11
6. (A) The Company uses cash operating expenses to evaluate internal performance. The Company has presented cash operating expenses because it is a common
measure used by rating agencies, lenders and financial analysts. Cash operating expense is not a measure of financial performance under generally accepted
accounting principles (quot;GAAPquot;) and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with
GAAP.
Following is a reconciliation of operating expenses to cash operating expenses for the second quarter of 2008:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating expenses $ 4,468,473 $ 305,851 $ 10,127 $ 4,784,451
Less: depreciation and amortization expense 39,226 12,728 253 52,207
Less: write-downs of intangible assets 3,843,111 - - 3,843,111
Cash operating expenses $ 586,136 $ 293,123 $ 9,874 $ 889,133
Following is a reconciliation of operating expenses to cash operating expenses for the second quarter of 2007:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating expenses $ 702,242 $ 285,225 $ 13,972 $ 1,001,439
Less: depreciation and amortization expense 38,139 12,725 317 51,181
Cash operating expenses $ 664,103 $ 272,500 $ 13,655 $ 950,258
Following is a reconciliation of operating expenses to cash operating expenses for the first half of 2008:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating expenses $ 5,144,349 $ 462,338 $ 38,624 $ 5,645,311
Less: depreciation and amortization expense 78,220 25,461 556 104,237
Less: write-downs of intangible assets 3,843,111 - - 3,843,111
Cash operating expenses $ 1,223,018 $ 436,877 $ 38,068 $ 1,697,963
Following is a reconciliation of operating expenses to cash operating expenses for the first half of 2007:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating expenses $ 1,381,341 $ 506,851 $ 33,613 $ 1,921,805
Less: depreciation and amortization expense 77,157 25,479 558 103,194
Cash operating expenses $ 1,304,184 $ 481,372 $ 33,055 $ 1,818,611
(B) Cash operating expenses for the second quarter of 2008 included a charge of $15 million for severance and special termination benefits at publishing and for
the first half of 2008 included a charge of $71 million for severance and special termination benefits ($45 million at publishing, $17 million at corporate and
$9 million at broadcasting and entertainment). Cash operating expenses for the second quarter of 2008 included a charge of $5 million related to the Company's
management equity incentive plan ($3 million at publishing, $1 million at broadcasting and entertainment and $1 million at corporate), and for the first half
of 2008 included a charge of $13 million related to the Company's management equity incentive plan ($7 million at publishing, $3 million at broadcasting and
entertainment, and $3 million at corporate). In addition, publishing cash operating expenses for the second quarter of 2008 included a gain of $23 million
related to the sale of real estate, and broadcasting and entertainment cash operating expenses for the first half of 2008 included a gain of $83 million related
to the sale of the Company's studio production lot. Cash operating expenses for the second quarter of 2007 included a severance charge of $27 million
($25 million at publishing and $2 million at corporate) and for the first half of 2007 included a severance charge of $28 million ($25 million at publishing and
$3 million at corporate). Cash operating expenses for the second quarter of 2007 included stock-based compensation of $8 million ($5 million at publishing,
$2 million at broadcasting and entertainment and $1 million at corporate) and for the first half of 2007 included stock-based compensation of $26 million
($12 million at publishing, $5 million at broadcasting and entertainment, and $9 million at corporate). In addition, publishing cash operating expenses for the
second quarter and first half of 2007 included a charge of $24 million for the write-off of Los Angeles Times plant equipment related to the previously closed
San Fernando Valley facility.
(C) Operating cash flow is defined as operating profit before depreciation and amortization and write-downs of intangible assets. The Company uses operating
cash flow along with operating profit and other measures to evaluate the financial performance of the Company's business segments. The Company has
presented operating cash flow because it is a common alternative measure of financial performance used by rating agencies, lenders and financial analysts.
These groups use operating cash flow along with other measures as a way to estimate the value of a company. The Company's definition of
operating cash flow may not be consistent with that of other companies. Operating cash flow does not represent cash provided by operating activities
as reflected in the Company's consolidated statements of cash flows, is not a measure of financial performance under GAAP and should not be
considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
13
7. (D) Operating profit for each segment excludes interest and dividend income, interest expense, equity income and losses, non-operating items and
income taxes.
(E) The $3.8 billion of non-cash impairment charges for the second quarter 2008 related to write-downs of the Company’s newspaper reporting unit goodwill
and newspaper masthead intangible assets.
Following is a reconciliation of operating profit (loss) to operating cash flow for the second quarter of 2008:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating profit (loss) $ (3,767,918) $ 103,403 $ (10,127) $ (3,674,642)
Add back: depreciation and amortization expense 39,226 12,728 253 52,207
Add back: write-downs of intangible assets 3,843,111 - - 3,843,111
Operating cash flow $ 114,419 $ 116,131 $ (9,874) $ 220,676
Following is a reconciliation of operating profit (loss) to operating cash flow for the second quarter of 2007:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating profit (loss) $ 81,336 $ 107,734 $ (13,972) $ 175,098
Add back: depreciation and amortization expense 38,139 12,725 317 51,181
Operating cash flow $ 119,475 $ 120,459 $ (13,655) $ 226,279
Following is a reconciliation of operating profit (loss) to operating cash flow for the first half of 2008:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating profit (loss) $ (3,729,697) $ 238,598 $ (38,624) $ (3,529,723)
Add back: depreciation and amortization expense 78,220 25,461 556 104,237
Add back: write-downs of intangible assets 3,843,111 - - 3,843,111
Operating cash flow $ 191,634 $ 264,059 $ (38,068) $ 417,625
Following is a reconciliation of operating profit (loss) to operating cash flow for the first half of 2007:
Broadcasting and
Publishing Entertainment Corporate Consolidated
Operating profit (loss) $ 206,926 $ 169,116 $ (33,613) $ 342,429
Add back: depreciation and amortization expense 77,157 25,479 558 103,194
Operating cash flow $ 284,083 $ 194,595 $ (33,055) $ 445,623
14