The book value of equity is Total Assets//Total Liabilities//Preferred Stocks + Deferred Taxes + Convertible Debt; [DELTA]Sales is the growth of sales; EBITDA/TA is the ratio of EBITDA to total assets; Inv/TA is the ratio of investments to total assets; and Asset Sales
is the negative asset growth divided by total assets.
These sales bring Dole's total asset sales
for 2008 to date to around $135 million.
Caption: Murray Hill Properties held its annual award ceremony at the Midtown Executive Club honoring the outstanding brokerage efforts of the firm's top leasing and asset sales
Stock sales typically generate a single level of tax to shareholders; asset sales
generate a step-up in the basis of the acquired assets to reflect the purchase price paid, which generates greater future tax deductions for the buyer.
The link between the computation of the MADSP and AGUB was consistent with the rules associated with actual asset sales
President and CEO Paul Ormond cited delays in closings of certain asset sales
as well as lower revenues and higher costs associated with "PPS training and transition, facility marketing expenses, development costs, startup losses, systems conversions, and other merger integration expenses.
We are very pleased with the progress we have made with our asset sales
program and debt reduction.
This "core earnings" concept, the ratings agency said, is based on "as reported" earnings, to which it adds a series of exclusions, such as goodwill impairment charges, gains or losses on asset sales
, hedging gains or losses and merger-related fees.
While the debt reduction amount remains the same, Anadarko now intends to decrease its leverage primarily through asset sales
rather than through a mix of asset sales
and equity issuance.
The ratings also reflect Solo's increased focus on cost reduction and the possibility of asset sales
, the proceeds from which would be used to reduce debt.
Subsequent to the end of the quarter MGM amended its credit facility, paid off a $245 million note, announced $600 million in asset sales
(to close in Q2'07), and is issuing $750 million in new senior notes.
The magnitude and timing of additional asset sales
could weaken EOP's debt service coverage levels absent meaningful debt repayment, or accretive acquisitions.