Earnings for the full year 2013 also include an after-tax charge of $16 million, or 2 cents per share, for the restructuring of a leveraged lease
investment recorded in the first quarter of 2013.
FASB has issued a staff position that requires companies to recalculate their leveraged leases
if there is a change in the timing of cash flows relating to income taxes generated by the leveraged lease
Mesa Air Group has completed leveraged lease
financing for two new Bombardier CRJ-700 aircraft with equity provided by GE Capital Aviation Services and senior and subordinated debt provided by DVB Bank AG and Citibank, respectively.
The aircraft leases are part of Whirlpool's leveraged lease
portfolio in discontinued operations.
Simply put, a leveraged lease
is a transaction where the lessor puts in a part (usually 20-40 percent) of the funds necessary to purchase the equipment and a third party lender supplies the remainder, hence the lessor's investment is leveraged with third party debt.
Integration of the Statement 13 leveraged lease
accounting with the overall deferred tax computation should be much simpler.
A leveraged lease
is a long-term lease in which a major part of the purchase price of the to-be-leased asset is financed by a third party.
16, 2010 /PRNewswire/ -- Pattern Energy Group LP (Pattern) today announced that MetLife has provided leveraged lease
equity financing to Pattern's wholly owned subsidiary Hatchet Ridge Wind, LLC, the lessee of a 101.
9m, excluding a one-time leveraged lease
portfolio tax gain of USD21.
Under the settlement, GE Capital has agreed to provide the airline with USD120m in debtor-in-possession financing, a USD360m loan for use after it emerges from Chapter 11, and USD350m of lease equity for the leveraged lease
financing of regional jet aircraft.
Altria expects to pay approximately $500 million in federal and state income taxes and related estimated interest as a result of the resolution of previously disclosed tax dispute pertaining to certain leveraged lease
01 Average Shares Outstanding (in millions) 791 769 785 768 End of Period Shares Outstanding (in millions) 796 771 Three Months Year-to-Date Ended June June 2009 2008 2009 2008 Consolidated Earnings-Excluding Items (See Notes) Net Income-As Reported $478 $417 $604 $776 Leveraged Lease
Adjustment - 67 - 67 MC Asset Recovery Litigation Settlement - - 202 - - - - Net Income-Excluding Items $478 $484 $806 $843 Basic Earnings Per Share-Excluding Items $0.