With respect to the charge related to the valuation reserve
against the Company's net deferred tax assets of $0.
99, TEI believes it would be inconsistent to establish a company-size threshold for disclosure of the loss or valuation reserves
Mathas said, "Our record level of surplus and asset valuation reserve
is a good indicator of the fundamental health of the enterprise.
0 million charge represented a full valuation reserve
on the tax benefit from the net operating loss carryforward.
The Company is providing adjusted earnings (loss) in addition to reported results prepared in accordance with generally accepted accounting principles in order to present financial information without the impact of the deferred tax asset valuation reserve
, which was recognized in the second quarter of 2010 and was established primarily based on cumulative losses over a three-year period.
This was offset by a LIFO inventory valuation reserve
benefit of $102.
The third quarter 2008 included a LIFO inventory valuation reserve
charge of $0.
5 million fixed asset valuation reserve
and a $90,000 reserve for bad debt expense.
0 million in severance pay and related costs, and a valuation reserve
against deferred tax assets of $4.
There was no change in our LIFO inventory valuation reserve
in the 2009 first quarter.
84 per share, for the full year 2000 provides a full valuation reserve
against previously recorded net deferred tax assets.
1 million deferred tax asset in the Fund's stated NAV, without establishing an appropriate valuation reserve
against the risk that the Fund could or would never utilize or recognize the deferred tax asset.