The Income Statement Or Profit And Loss Account Explained

The carrying values of the Company’s financing lease obligations approximated their fair value as there has been minimal change in the Company’s incremental borrowing rate. The Company does not expect any material net pre-tax gains or losses to be reclassified from accumulated other comprehensive loss into interest and other expense, net within the next twelve months. The Company tests goodwill and non-amortizing intangible assets at least annually for possible impairment. Accordingly, the Company completes the annual testing of impairment for goodwill and non-amortizing intangible assets on the later of January 1 or the first day of each fiscal year.

• For sites where the Company has been named a PRP, management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute.
• We must anticipate industry trends and consistently develop new products to meet our customers’ expectations.
• The Company recognizes revenue in an amount that reflects the consideration the Company expects to receive in exchange for the promised products or services when it satisfies a performance obligation by transferring control of those products or services to customers.
• Accordingly, the Company completes the annual testing of impairment for goodwill and non-amortizing intangible assets on the later of January 1 or the first day of each fiscal year.
• For these acquired businesses to achieve acceptable levels of profitability, we would have to improve their management, operations, products and market penetration.
• The income statement does not report owners’ transactions, therefore dividends and proceeds from shares are not shown as expense or income respectively.
• It appears likely that this withdrawal will involve a process of lengthy negotiations between the United Kingdom and European Union member states to determine the future terms of the United Kingdom’s relationship with the European Union.

Expenses are realized and recorded in the same manner, when they are incurred, no matter when they were paid. We are also subject to a variety of laws, regulations and standards that govern, among other things, the importation and exportation of products, the handling, transportation and manufacture of toxic or hazardous substances, and our business practices in the United States and abroad such as anti-bribery, anti-corruption and competition laws. This requires that we devote substantial resources to maintaining our compliance with those laws, regulations and standards. A failure to do so could result in the imposition of civil, criminal or monetary penalties having a material adverse effect on our operations. Our operations are subject to regulation by different state and federal government agencies in the United States and other countries, as well as to the standards established by international standards bodies. If we fail to comply with those regulations or standards, we could be subject to fines, penalties, criminal prosecution or other sanctions. Some of our products are subject to regulation by the United States Food and Drug Administration and similar foreign and domestic agencies.

Main Purposes Of Financial Statements Explained

The cumulative effect of recognizing instrument sales upon delivery or transfer of title and capitalizing the incremental commission fees were not material at January 1, 2018. The adoption of the standards had no impact to cash from or used in operating, investing, or financing activities in the Company’s consolidated statement of cash flows at January 1, 2018. Refer to Note 3, Changes in Accounting Policies, for the impact of adoption of the standards on the Company’s condensed consolidated financial statements for the quarter ended September 30, 2018. During the nine months ended September 30, 2018, we paid $30.3 million as compared to $11.5 million for settlement of forward foreign exchange contracts for the nine months ended October 1, 2017. During the nine months ended September 30, 2018, we paid $23.2 million as compared to $23.1 million in dividends for the nine months ended October 1, 2017. During the nine months ended September 30, 2018, we had net payments on other credit facilities of $22.9 million as compared to $0.9 million for the nine months ended October 1, 2017.

• Based on the evaluation of our disclosure controls and procedures as of the end of our fiscal quarter ended September 30, 2018, our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.
• Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
• The Company’s April 2021 Notes, with a face value of €300.0 million, had an aggregate carrying value of $345.8 million, net of $0.2 million of unamortized original issue discount and $2.3 million of unamortized debt issuance costs as of September 30, 2018.
• At September 30, 2018, we had accrued $7.8 million for dividends declared on July 23, 2018 for the third quarter of fiscal year 2018 that will be payable on November 9, 2018.

During the nine months ended September 30, 2018, we had no stock repurchases under the Repurchase Program and New Repurchase Program. As of September 30, 2018, $250.0 million remained available for aggregate repurchases of shares under the New Repurchase Program. Our overall revenue in the third quarter of fiscal year 2018 was $674.3 million and increased $120.0 million, or 22%, as compared to the third quarter of fiscal year 2017, reflecting an increase of $20.8 million, or 5%, in our Discovery & Analytical Solutions segment revenue and an increase of $99.3 million, or 59%, in our Diagnostics segment revenue. The increase in our Discovery & Analytical Solutions segment revenue for the third quarter of fiscal year 2018 was primarily due to an increase in our applied markets revenue, as well as an increase in our life sciences market revenue.

What Financial Statement Does A Accounts Payable Belong?

Operating income from continuing operations for the nine months ended September 30, 2018 was $149.2 million, as compared to $128.6 million for the nine months ended October 1, 2017, an increase of $20.6 million, or 16%. Amortization of intangible assets was $34.6 million for the nine months ended September 30, 2018, as compared to $37.5 million for the nine months ended October 1, 2017.

The other components of net periodic pension credit were$1.8 million and $5.4 million for the three and nine months ended October 1, 2017, respectively. Certain of the Company’s products require specialized installation and configuration at the customer’s site. Revenue for these products is deferred until installation is complete and customer acceptance has been received. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days. Other items that generally have the other income include the entity’s income from sales of fixed assets or other one-off income-generating activities. In a single-step income statement, the other incomes are recorded in the revenues section with the main revenues that the entity is generating in the period.

Non Operating Income:

This compares to repurchases of 73,672 shares of common stock pursuant to our equity incentive plans for the nine months ended October 1, 2017, for a total cost of $3.5 million. During the nine months ended September 30, 2018, we made $12.8 million in payments for acquisition-related contingent consideration, as compared to $8.9 million for the nine months ended October 1, 2017. This cash used in financing activities during the nine months ended September 30, 2018 was partially offset by proceeds of $369.3 million from the sale of our 0.6% senior unsecured notes due in 2021, and we paid $2.6 million for debt issuance costs. During the nine months ended September 30, 2018, borrowings from our senior unsecured revolving credit facility totaled $605.0 million, which were more than offset by debt payments of $1,019.0 million.

If we fail to accurately foresee our customers’ needs and future activities, we may invest heavily in research and development of products that do not lead to significant revenue. We may also suffer a loss in market share and potential revenue if we are unable to commercialize our technology in a timely and efficient manner. At September 30, 2018, we had cash and cash equivalents of $149.5 million, of which To What Element of a Financial Statement Does “Gain on Sales” Belong? $135.6 million was held by our non-U.S. Subsidiaries, and we had $577.6 million of additional borrowing capacity available under our senior unsecured revolving credit facility. The effective tax rate from continuing operations was 3.3% and 6.8% for the three and nine months ended September 30, 2018, respectively, as compared to 8.1% and 9.5% for the three and nine months ended October 1, 2017, respectively.

Main Elements Of Financial Statements: Assets, Liabilities, Equity, Revenues, Expenses

As a percentage of revenue, cost of revenue decreased to 50.7% for the three months ended September 30, 2018, from 51.5% for the three months ended October 1, 2017, resulting in an increase in gross margin of 76 basis points to 49.3% for the three months ended September 30, 2018, from 48.5% for the three months ended October 1, 2017. Amortization of intangible assets increased and was $11.6 million for the three months ended September 30, 2018, as compared to $7.1 million for the three months ended October 1, 2017.

Restructuring and contract termination charges, net, were $11.6 million for the nine months ended September 30, 2018, as compared to $9.7 million for the nine months ended October 1, 2017. Acquisition and divestiture-related expenses, contingent consideration and other costs added an incremental expense of $1.9 million for the nine months ended September 30, 2018, as compared to $0.4 million for the nine months ended October 1, 2017. Legal costs for significant https://accountingcoaching.online/ litigation matters were $5.1 million for the nine months ended September 30, 2018, as compared to zero for the nine months ended October 1, 2017. In addition to the factors noted above, operating income increased for the nine months ended September 30, 2018, as compared to the nine months ended October 1, 2017, as we continued to realize the benefits from our cost containment initiatives partially offset by higher costs in research and development expenses.

The Key Element Of The Single Step Income Statement

The excess of the purchase prices over the fair values of the acquired businesses’ net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforces acquired, and has been allocated to goodwill, which is not tax deductible. The Company has reported the operations of Tulip within the results of the Company’s Diagnostics segment and the other acquired business within the results of the Company’s DAS segment from the acquisition date. Identifiable definite-lived intangible assets, such as core technology, trade names and customer relationships, acquired as part of these acquisitions had a weighted average amortization period of 11.8 years.

In the ordinary course of business, we enter into foreign exchange contracts for periods consistent with our committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies. The intent of these economic hedges is to offset gains and losses that occur on the underlying exposures from these currencies, with gains and losses resulting from the forward currency contracts that hedge these exposures. Transactions covered by hedge contracts include intercompany and third-party receivables and payables. The contracts are primarily in European and Asian currencies, have maturities that do not exceed 12 months, have no cash requirements until maturity, and are recorded at fair value on our condensed consolidated balance sheets. The unrealized gains and losses on our foreign currency contracts are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from operating activities within our condensed consolidated statement of cash flows. In the ordinary course of business, the Company enters into foreign exchange contracts for periods consistent with its committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies.

If the expected amortization period is one year or less, the commission fee is expensed when incurred. The Company recognizes revenue for extended warranties on a straight-line basis over the extended warranty period in service revenue. In the majority of countries in which the Company operates, the customary warranty period is one year and the extended warranty covers periods beyond year one. Customers typically pay for extended warranties on an annual basis over the term of the warranty. In general, customers can cancel the extended warranty at any time with 30 days notice without significant penalty. As a result, the use of distributors is generally limited to geographic regions where the Company has no direct sales force. The Company does not offer product return or exchange rights or price protection allowances to its customers, including distributors.

• Financing Lease Obligations.In fiscal year 2012, the Company entered into agreements with the lessors of certain buildings that the Company is currently occupying and leasing to expand those buildings.
• For example, interest expenses and other expenses that spend by the entity like selling of fixed assets.
• Legal costs for significant litigation matters were $5.1 million for the nine months ended September 30, 2018, as compared to zero for the nine months ended October 1, 2017.
• The stand-alone selling prices are determined based on the list prices at which the Company sells the software license, software subscription, maintenance and/or consulting services.
• The total compensation expense recognized related to the performance restricted stock units was $1.3 million and $2.2 million for the three and nine months ended September 30, 2018, respectively, and $0.2 million and $0.6 million for the three and nine months ended October 1, 2017, respectively.
• Amortization of intangible assets was $3.8 million for the nine months ended September 30, 2018, as compared to $0.2 million for the nine months ended October 1, 2017.

Financing Lease Obligations.In fiscal year 2012, we entered into agreements with the lessors of certain buildings that we are currently occupying and leasing to expand those buildings. We provided a portion of the funds needed for the construction of the additions to the buildings, and as a result we were considered the owner of the buildings during the construction period. At the end of the construction period, we were not reimbursed by the lessors for all of the construction costs. We are therefore deemed to have continuing involvement and the leases qualify as financing leases under sale-leaseback accounting guidance, representing debt obligations for us and non-cash investing and financing activities. As a result, we capitalized $29.3 million in property, plant and equipment, net, representing the fair value of the buildings with a corresponding increase to debt.

The Income Statement Or Profit And Loss Account Explained

We do not enter into derivative contracts for trading or other speculative purposes, nor do we use leveraged financial instruments. Although we attempt to manage our foreign exchange risk through the above activities, when the U.S. dollar weakens against other currencies in which we transact business, sales and net income generally will be positively but not proportionately impacted. Conversely, when the U.S. dollar strengthens against other currencies in which we transact business, sales and net income will generally be negatively but not proportionately impacted. We adopted Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018.

The Key Element Of The Single Step Income Statement

These regulations govern a wide variety of product activities, from design and development to labeling, manufacturing, promotion, sales and distribution. If we fail to comply with those regulations or standards, we may have to recall products, cease their manufacture and distribution, and may be subject to fines or criminal prosecution. Disruptions in the supply of raw materials, certain key components and other goods from our limited or single source suppliers could have an adverse effect on the results of our business operations, and could damage our relationships with customers. If we fail to comply with these obligations, we could lose important rights under a license, such as the right to exclusivity in a market, or incur losses for failing to comply with our contractual obligations. For example, the licensor could lose patent protection for a number of reasons, including invalidity of the licensed patent, or a third-party could obtain a patent that curtails our freedom to operate under one or more licenses.

The Company’s other debt facilities that were assumed from the EUROIMMUN acquisition had an aggregate carrying value of $43.5 million and $60.2 million as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, these consisted of bank loans in the aggregate amount of $43.3 million bearing fixed interest rates between 0.05% and 5.5% and a bank loan in the amount of $0.2 million bearing a variable interest rate based on the Euribor rate plus a margin of 1.5%. The total compensation expense recognized related to the performance restricted stock units was $1.3 million and $2.2 million for the three and nine months ended September 30, 2018, respectively, and $0.2 million and $0.6 million for the three and nine months ended October 1, 2017, respectively. As of September 30, 2018, there was $18.9 million of total unrecognized compensation cost related to nonvested restricted stock awards. The fair value of restricted stock awards vested during the three and nine months ended September 30, 2018 was $1.1 million and $10.0 million, respectively. The fair value of restricted stock awards vested during the three and nine months ended October 1, 2017 was $0.5 million and $9.8 million, respectively.