1 per cent was up 50 basis points since year end, benefitting primarily from the 3 per cent reduction in risk-weighted assets (RWA), profits in the period and a small currency
translation gain.
This includes $340 million it spent on tax on foreign currency
translation gain, AP reported.
Excluding the non-recurring currency
translation gain of 18 cents a share, adjusted earnings for the full year are expected to be more than 35 percent higher than the 2010 level.
The increase in net income in the recent quarter, when compared to the third quarter of 2007, has been due to higher gold production and prices and the foreign currency
translation gain, partly offset by net loss on investments and lower zinc and copper prices.
It requires recognition of a
translation gain or loss that results, in effect, from reclassification of inventory to goods sold.
Results for the prior-year span reflect an $11 million foreign currency
translation gain and the $12 million charge mentioned above.
The franchisor's results for the 2002 period included a noncash, $8 million foreign currency
translation gain, offset by a noncash, $12 million charge associated with the write-off of deferred financing costs in conjunction with a refinancing of SDM's U.
Partially offsetting the transaction loss, the company incurred a
translation gain of $17,9.
where CAR is the annual cumulative abnormal stock return around the annual earnings announcement date--the dependent variable; UE is unexpected earnings as measured by the effort of analyst forecasts of EPS, including currency transaction gains (losses); CT is the cumulative currency
translation gain (loss) per share observed in owner equity; FI is operating income of foreign activities per share as reported in segmental data; FS is the percentage change in foreign sales reported in segmental data; and FC is the percentage change in foreign cash from operating activities, as apportioned by sales from the statement of cash flow.
The resulting gains or losses are reported as
translation gain or loss in THE's income statement.
6 billion partially attributable to the positive impact of a
translation gain, the inclusion of the Nigerian business as well as AFGRI Equipment in Zimbabwe and AFGRI Milling s inclusion for a full year.
Factoring out the effects of a $3 million noncash foreign currency
translation gain in the 2002 quarter, earnings for Canada's largest franchiser of drug stores jumped 31.
