It must appear that substantial financial loss, for example, loss due to
the sale of property at a sacrifice price, will result to the taxpayer for making payment on the due date of the amount with respect to which the extension is desired.
The act (or failure to act) giving rise to losses due to
liabilities arising under Federal or state law must have occurred at least three years before the tax year, and the taxpayer must have been using the accrual method of accounting at the time.
Ex-fuel, unit costs rose due to
increased headcount, higher airport fees, and higher fleet related expenses resulting from a larger fleet.
Sales in Internal Combustion Engine and Machinery were almost same level from the corresponding period in the prior year due to
sales downturn of tractor and other farm machinery.
Fitch believes that the size of NFS's adjustment for variable annuity risks is modest due to
a conservative product mix with only small amounts of living benefits in the current portfolio, the existence of reinsurance on older policy year contracts still on the books and the amount of current reserves held to offset the risks.
While margins should improve to the mid-to-high teens in the near term, MMC will struggle to restore margins to peak levels for the foreseeable future, especially as insurance brokers enter a more challenging operating environment, due to
flat to softening commercial insurance pricing.
However, even if the impact of any such restatements is not material, the Negative Rating Watch may continue to be maintained due to
the uncertainty surrounding the ongoing investigations.
Baker Street pays the swap counterparty for any losses due to
credit events experienced in the portfolio above the first loss amount for each class up to the balance on the notes by liquidating collateral.
Debt grew steadily over the past ten years due to
significant modernization and divestiture programs aimed at converting the majority of AMC's theatres to state-of-the-art megaplexes.