The Motley Fool

NOVEMBER 21, 2024

Slide 14 concludes with our guidance for net income, effective tax rate, and operating cash flow. Next, our guidance incorporates an effective tax rate between 23% and 25%. Said more simply, we expect to deliver higher margins at trough than we did during the previous peak in 2013. billion to $5.5

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Funds Investors Shareholders 130

The Motley Fool

FEBRUARY 7, 2024

billion for the fourth quarter compared with the fourth quarter of last year, including $18 million more benefit on an after-tax basis in the fair value of securities still held in our equity portfolio. The fourth-quarter pre-tax average yield of 4.48% for the fixed maturity portfolio rose 32 basis points compared with last year.

Taxes 130

Taxes Accounting Banks Shareholders 130

The Big Picture

MAY 9, 2023

So how do you then go from tax and audit practice to finance and investing? SALISBURY: So I led the European Special Situations Group from 2008 to 2013. If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade. That background of being an accountant was just great bedrock training.

Liabilities 119

Liabilities Assets Banks Hedge Funds 119

Cobalt

JUNE 14, 2023

Conversely, in 2013 $2B excess distributions are compared to more than $12B total. The information contained in this blog post is not legal, tax, or investment advice. Total secondary fundraising in the 2000s was only $85B, compared to $335B in the 2010s. This blog post is for informational purposes only.

Buyout 52

Buyout Legal Liabilities Taxes 52

The Motley Fool

APRIL 18, 2024

Our pro forma effective tax rate for the first quarter was 22.5%, consistent with our expectations. First quarter GAAP tax expense was a benefit of $9 million, reflecting excess tax benefits associated with employee equity plans of $111 million. Pro forma other income was $72.5 million for Q1, higher than $67.1

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Taxes Capital Banks 130

The Motley Fool

AUGUST 2, 2023

Since inception in 2013, when the company was formed by Fortress to take advantage of price dislocations created by higher capital requirements at the banks, we have executed on that plan. The company, which was started in 2013 with $1 billion of equity, has grown to over $7 billion of equity. Along the way, we've distributed $4.7

Capital 100

Capital Asset Management Assets Shareholders 100

The Motley Fool

FEBRUARY 7, 2025

I've been with the company since 2013, and my favorite style is the SKX Float from our Skechers Basketball line. Our effective tax rate for the fourth quarter was 11.8% in the prior year, reflecting a favorable mix of earnings in lower tax jurisdictions and impacts from foreign currency losses. compared to 20.3%

Taxes 130

Taxes Leveraging Accounting Companies 130

The Motley Fool

OCTOBER 23, 2024

tax authorities in Q1 of '24 that requires a 20% VAT be applied to Clear Aligner sales in the U.K., The GAAP effective tax rate in the third quarter was 30.1% Our non-GAAP effective tax rate in the third quarter was 20%, which reflects our long-term projected tax rate. to offset a 2024 ruling by the U.K. year over year.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Financing Finance Taxes 130

The Motley Fool

JANUARY 23, 2024

Excluding after-tax intangible asset amortization expense and special items for both periods, adjusted net earnings for the quarter were $5.6 Regarding taxes in the quarter, our effective tax rate was 14.4% Excluding special items, the effective tax rate was 10.8% Now let's look at adjusted income before tax by segment.

Taxes 100

Taxes Assets Portfolios Capital 100

Pension Pulse

DECEMBER 16, 2024

The Canadian funds scale allows them to negotiate favourable terms in private markets, access exclusive transactions, and align their investments with long-term liabilities. They should and can use tax dollars to help drive policy and they should be held accountable for those decisions, including at the ballot box.

Pension Funds 59

Pension Funds Funds Liabilities Assets 59

The Motley Fool

AUGUST 2, 2023

The higher net loss in the second quarter of 2023 is mainly due to a lower tax benefit in Q2 2023 compared to Q2 2022 due to effects of a portion of realization of losses related to an investment in one of our U.S. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

Debt 188

Debt Assets Leveraging Portfolios 188

The Motley Fool

FEBRUARY 20, 2024

At the time of our initial public offering in 2013, we were operating just eight markets across four states. Our pre-tax net income for the year was $261.8 Our effective tax rate last year was 23.9%, in line with the guidance we provided on our last call. Finally, we expect the full-year tax rate will range between 24% and 25%.

Debt 130

Debt Capital Taxes Initial Public Offering 130

The Motley Fool

FEBRUARY 13, 2025

per diluted share, which included $163 million of discrete tax benefits related to special items. In Argentina, decreased currency risk and export tax reductions will support some improvements in farm margins despite negative impacts of dryness at the beginning of the year. Net sales and revenues were down 30% to $8.58 billion and $5.5

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Taxes Investors Funds 130

The Motley Fool

JANUARY 19, 2024

This morning, we reported full year 2023 earnings of $2 billion, reflecting record pre-tax pre-provision income of $3.2 Keep in mind, between 2013 and 2019, our average NPL ratio was 107 basis points. Our average net charge-offs from 2013 to 2019 were 46 basis points. We appreciate you joining our call today.

Banks 130

Banks Leveraging Capital Portfolios 130

The Motley Fool

FEBRUARY 15, 2024

After-tax cash flows discount of 5% is just over $300 million at $22 silver. However, when we acquired it back in 2013, we realized then that there was the potential for significant value in the open pits, which were anticipated to start production later in the mine life. Joseph Reagor -- ROTH MKM -- Analyst OK.

Assets 130

Assets Banks Depreciation Capital 130

The Motley Fool

NOVEMBER 6, 2024

Lastly, from a cash flow perspective, in 2025, we are projecting annualized cash interest payments of $305 million to $315 million and annualized cash taxes of $130 million to $140 million. We've got this $800 million pre-tax unlevered free cash flow number. With that, I'd like to turn the call over to Richard. That's helpful.

Capital 130

Capital Leveraging Taxes Portfolios 130

The Motley Fool

JULY 20, 2023

On the liability side, current liabilities decreased by TWD 62 billion, mainly due to the net decrease of TWD 87 billion in income tax payable as we pay TWD 120 billion for 2022 income tax, offset by TWD 33 billion accrued tax payables for the second quarter. trillion or USD 48 billion. administration.

Taxes 100

Taxes Accounting Shareholders Capital 100

The Motley Fool

JULY 31, 2024

If you look back in history in just a little bit, taking you backwards, company was started in 2013 with $1 billion of equity capital. Our second-quarter pre-tax income was $248 million, delivering a 23% ROE, excluding mark-to-market on the owned portfolio. So now to Page 3. Today we have $7.3 billion of permanent capital.

Capital 130

Capital Amortization Shareholders Financing 130

The Motley Fool

AUGUST 1, 2024

These tax-deductible securities received 50% equity credit from the credit rating agencies. Since 2013, we've averaged around 15 data center connections per year. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Turning to financing on Slide 6.

Financing 130

Financing Finance Debt Bidding 130

The Motley Fool

MAY 9, 2024

So, to put that into perspective, 40 million ounce increase is about the same as the total demand that you had for photovoltaics in 2013. And Indians actually have to pay more for their silver because of 12% duties and taxes that they have now. And in 2024, there should be another 40 million ounces for solar. Now, let's go to Slide 4.

Capital 130

Capital Assets Leveraging Legal 130

The Motley Fool

MARCH 5, 2024

And finally, after tax return on invested capital expanded by well over 3 percentage points from 12.6% In 2013, our U.S. billion or 70% of our digital growth between 2013 and 2023. in 2013 to $8.94 in 2013 to $4.36 operating margin rate in 2013 to 5.3% billion last year. in 2022 to 16.1% per year from $4.29

Leveraging 130

Leveraging Portfolios Assets Returns 130

The Motley Fool

FEBRUARY 7, 2024

These trends are consistent with what's been reported over prior quarters, they're driven by improved occupancy growth and rental rate as well as a continued conversion from variable to fixed rent structures with CAM and tax recovery charges. Frankly, that's a gem from the two assets that we acquired back in the 2012, 2013 time frame.

Debt 130

Debt Assets Capital Banks 130

The Motley Fool

JULY 31, 2024

For fiscal year 2024, we achieved the highest gross margin percentage since the merging of Lam with Novellus in 2013, coming in at 48.2% Our non-GAAP tax rate for the quarter was 11.5%. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

Banks 130

Banks Portfolios Capital Returns 130

The Motley Fool

MAY 3, 2024

Diluted earnings per share on a GAAP basis was $0.07, down year on year due to lower operating margins, acquisition and amortization costs, and unfavorable discrete tax items. The adjusted effective tax rate was 16% in both Q1 of 2024 and Q1 of 2023. Sequentially, GAAP diluted EPS increased 7%. Adjusted diluted EPS was $0.11, down $0.02

Capital 130

Capital Returns Investors Taxes 130

The Motley Fool

AUGUST 5, 2024

To round out the key P&L items, we continue to anticipate interest expense to be roughly $395 million and our tax rate to be between 23% and 24%. And so through the last cycle, obviously, we saw a drought in that 2012, 2013, and then a relatively good rebound in 2014, 2015, and 2016. billion and $1.3 billion this year.

Assets 130

Assets Leveraging Capital Shareholders 130

The Motley Fool

FEBRUARY 14, 2024

We recorded $709,000 of income tax expense during the fourth quarter. You know, generally, spaces where we're very comfortable with our exposure but there is still opportunistic maybe tax-motivated purchasers out there in geographies which seem to still have heat to them. This brings the total for the year to $2.9 Haendel St.

Debt 130

Debt Banks Capital Leveraging 130

The Motley Fool

OCTOBER 31, 2023

And as a result, we reported a pre-tax loss of $8.5 Another headwind to GAAP EPS was $4 million of unfavorable discrete tax expense. Moving on, the non-GAAP effective tax rate was 18% in Q3 of 2023 and 15% in Q3 of 2022. Given the large movement in exchange rates between the U.S. million for the forward contract.

Securities and Exchange Commission (SEC) 100

Securities and Exchange Commission (SEC) Amortization Capital Leveraging 100

The Motley Fool

JULY 20, 2023

There's still a -- you know, we've gone through over the last couple of years the original legacy contracts from back in 2013, 2014. And with respect to the multiple going up on the backlog, what I would say about that is, you know, we target, on average, you know, 15% unlevered after-tax project. It's a 15% unlevered after-tax return.

Securities and Exchange Commission (SEC) 100

Securities and Exchange Commission (SEC) Leveraging Debt Assets 100

The Big Picture

SEPTEMBER 12, 2022

there’s a big focus on how do we optimize for tax efficiency, too. And what you realize is, yes, there are people who are sincerely interested in markets and they follow them and they’re passionate about them, but they’re also really concerned about the after tax impact of what …. And so, within the U.S., RITHOLTZ: Right.

Banks 119

Banks Assets Capital Hedge Funds 119

The Motley Fool

JANUARY 23, 2024

Now, as we get to an apples-and-apples basis, we need to back out from that reportable free cash flow $600 million, our stand-alone and carve-out costs of approximately $300 million, in addition to pension and some variables we're working through with taxes that will all be clear in the Form 10 filing in the middle of February.

Banks 130

Banks Capital Debt Public Companies 130

The Motley Fool

AUGUST 1, 2024

We continue to actively manage our share-based compensation and related payroll taxes, which were $11.7 In 2013, we decided to move to the cloud, and today, all of our software revenues are cloud-based subscriptions. We had an adjusted income of $16.1 million compared to an adjusted loss of $2.2

Capital 130

Capital Leveraging Accounting Banks 130

The Motley Fool

JULY 12, 2024

billion, with pre-tax margin of 32%. I mean, when I asked Jamie at the 2013 Investor Day, you know, would it make sense to have 13.5% Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Net charge-offs were 164 million, of which about half was in office.

Banks 130

Banks Capital Financing Finance 130

The Motley Fool

FEBRUARY 1, 2024

Libby is one of our young all-stars who joined the company in 2013 and worked in commercial roles of increasing responsibility across several of our business units before joining the IR team in 2019. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

Capital 130

Capital Debt Assets Banks 130

The Motley Fool

AUGUST 8, 2023

Generally, these trends were due to improvements in occupancy and from continued conversion of selected leases from variable to fixed rent structures with full base rent and CAM and tax recovery charges. There were only three bankruptcies in the second quarter, and bankruptcies overall remained at their lowest level since 2013.

Assets 100

Assets Debt Financing Finance 100

The Motley Fool

AUGUST 1, 2023

Our non-GAAP tax expense was $38 million this quarter compared to $33.2 And we expect to maintain approximately 20% tax rate on both GAAP and non-GAAP basis for the rest of the year. We do not see this stage, as was the case in Germany, let's say, or Europe in 2013 when market disappeared. As the euro to U.S.

Banks 100

Banks Leveraging Due Diligence Capital 100

Pension Pulse

MAY 24, 2023

Asset and Geography Mix CPP Investments, inclusive of both the base CPP and additional CPP Investment Portfolios, is diversified across asset classes and geographies: 1 Fixed income consists of cash and cash equivalents, money market securities and government bonds, all net of financing liabilities. Our original investment was made in 2013.

Investing 52

Investing Stakes Pension Funds Assets 52

The Big Picture

NOVEMBER 8, 2022

But anyway, I put them all together and it looked — that speculative sentiment was very inflated in 2013. Well, the way I see negative rate is it’s a tax on capital, which is instituted by an unelected — RITHOLTZ: Central bank. I can’t quite remember what they were.

Financing 59

Financing Finance Banks Hedge Funds 59