We absorbed a number of accounting changes, the sale of McLane and the valuation reserve
and still were able to hit that target.
Consequently, if the Commission moves forward to adopt the proposed rules for loss accrual and valuation reserves
generally, we recommend that it eliminate the references to tax contingency and valuation reserves
that are already governed by FASB Statements No.
These financial size categories reflect the current adjusted amount of company surplus and securities valuation reserves
Similar to the Asset Valuation Reserve
, the risk-based capital formula would apply a moving two-year average ratio of company-to-industry experience in the absence of a standardized credit rating system for commercial real estate mortgages.
Although the Institute commended the SEC for its goal of enhancing the utility of financial disclosure statements, it questioned whether disclosure of a tax contingency or valuation reserve
for material items comprising the issuer's tax reserve would improve the reader's understanding of the statements.
The quarter was hit by a $20.5m restructuring charge, as well as an increase of $51.3m in the valuation reserve
for deferred tax assets and a $12.7m non-cash charge related to asset write-downs.
The regulatory initiatives include a "risk-based capital" (RBC) requirement effective by year-end 1993; an asset valuation reserve
(AVR) and an interest maintenance (IMR) requirement, both effective since the beginning of 1993; and a model investment law likely to become effective in 1994.
If the company's prospects decline or improve gradually over a period of years, the valuation reserve
may be increased or decreased correspondingly, thereby avoiding the sudden, distortive effects of dramatic adjustments.
A valuation reserve
against net deferred tax assets released in 4Q12 minimized income tax expense during the 2012 periods.
The buyer is CentraGas Holding Gmbh, Intesa said, adding that the deal will cause a negative contribution of some EUR100m after tax in its income statement, including around EUR60m attributable to release of foreign exchange differences from the related valuation reserve