This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Our investment activity in the third quarter included total investments in our lower middle market portfolio of $52 million, which after aggregate repayments on debt investments and return on invested equity capital, resulted in the net increase in our lower middle market portfolio of $2 million.
Doximity says its customers get exceptional return on investment from marketing on the app, and the company has historically turned that into upsell opportunities for more marketing -- and, more recently, the upsell of app extensions like video conferencing and e-signature.
billion, up 14%, with the increase driven primarily by content acquisition costs, followed by depreciation, as well as the impact of the Canadian Digital Services Tax, which was applied retroactively. The largest single factor in the year-on-year decline in G&A expenses was lower charges related to legal matters. billion, up 11%.
The increase in SG&A was primarily associated with increased restructuring costs in the period from settling the leases from company-owned transition studios and increased legal fees to address regulatory inquiries. Depreciation and amortization expense was $4.2 Impairment of goodwill and other assets was $4.5
Our guidance assumes, among other things, that we don't conclude any additional business acquisitions, restructurings or legal settlements. So, I would expect that it will increase depreciation, definitely in that segment. And now I'll turn the call over to Andy. On the -- well, we're talking about capex.
It’s a crucial step in the buying and selling of businesses, and it’s also necessary for tax purposes, financial reporting, and legal matters. The capitalization rate is determined by dividing the expected rate of return on investment by the risk-free rate of return.
Lastly, we made substantial progress on certain legacy compliance and legal matters, including resolving our Janssen settlement for which Emergent received a $50 million payment. And the services segment adjusted gross profit was negative $7 million, which on a cash basis excluding depreciation is approaching breakeven.
This also meaningfully extends the production life of our installed capacity and improves our returns on investments, similar to the announcement last quarter of our Tower Semiconductor partnership at the 65-nanometer node with our New Mexico site. Just when a factory got very good and depreciated, right, we move to the next node.
G&A for the quarter was $191 million on a GAAP basis or $175 million on a non-GAAP basis, excluding about $12 million related to equity awards granted for retention of key executives, and a $4 million increase in legal reserves. Depreciation for the quarter was $84 million or 2.9% Our effective tax rate for Q4 was 24.4%
“Despite significant declines in global equity and fixed income markets during our fiscal year, our investment portfolio remained resilient, delivering stable returns while outperforming major indexes.” The positive fiscal-year results reflect returns on investments in infrastructure and certain U.S. and the U.S.
Additionally, a headwind to gross profit and EPS, but not EBITDA, is that depreciation is up approximately 15% relative to 2023 due to tooling associated with the launch of new products introduced last year. I mean, our capital deployment, return on invested capital, those things I feel really good about.
We will continue to improve return on invested capital, creating shareholder value, and we will continue to execute with excellence in everything that we do. Let me take that one and start out by saying that everyone that works at Tyson Foods is legally authorized to do so. Alexia Howard -- Analyst Great. Thank you very much.
During the call, Jim, John, and Devina will discuss operating EBITDA, which is income from operations before depreciation and amortization. It really was the payback period of the recycling investments relative to investments we make in our traditional collection and disposal assets.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content