Question: What is the nature of the lawsuit filed by the U.S. Department of Justice against the Company in December 2020?

DOJ Opioid Civil Litigation: A civil complaint pending in the U.S. District Court for the District of Delaware has been filed by the U.S. Department of Justice (the 'DOJ') against the Company, in which the DOJ alleges violations of the Controlled Substances Act related to nationwide distribution and dispensing of opioids.

We do not believe that such normal and routine litigation will have a material effect on our financial condition or results of operations.

Net earnings attributable to Hasbro, Inc. declined in 2022 to $203.5 million, compared to $428.7 million in 2021.

The Firmwide Capital Committee, co-chaired by the head of Credit Risk and a co-head of the Global Financing Group, provides approval and oversight of debt-related transactions, including principal commitments of our capital, aiming to ensure that business, reputational, and suitability standards for underwritings and capital commitments are maintained on a global basis.

FedEx allocates the net operating costs of the FedEx Services segment to other segments using specific metrics like relative revenue or estimated services provided to approximate the net cost of functions offered.

Depreciation and amortization totaled $4,856 as recorded in the financial statements.

Comcast's operating income saw a significant increase, rising by 66.0% from 2022 to 2023.

In 2022 and 2023, U.S. dialysis experienced increases in clinical labor wage rates, which includes contract labor, of approximately 1.3% and 7.4%, respectively.


Question: How many retail locations are operated by third parties under license and supply arrangements in Saudi Arabia as of January 28, 2024?

General Motors operates through automotive segments which include GM North America (GMNA) and GM International (GMI).

For the year ended December 31, 2023, matching contributions for the 401(k) Plan totaled approximately $13,821.

On July 12, 2022, the company announced that they are exiting all owned-manufacturing operations and expanding their current relationship with Taiwanese manufacturer, Rexon Industrial Corp.

Online sales represented 14.2% of net sales in fiscal 2022.

Consumer VoIP Connections were 2,736 in 2021, decreased to 2,311 in 2022, and further to 1,953 in 2023.

FDICIA establishes five capital categories for FDIC-insured banks, such as GS Bank USA: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized.

The Financial Statement Schedule for IBM's 2023 filing is found on page S-1 of Form 10-K.


Question: What is operational risk defined as in the context of the company's risk management?

We consider operational risk to be the risk of loss due to, among other things, inadequate or failed processes, people or information systems, or impacts from the external environment, including failures to comply with laws and regulations as well as impacts from relationships with third parties.

The Company’s effective tax rate for 2023 and 2022 was lower than the statutory federal income tax rate due primarily to a lower effective tax rate on foreign earnings, the impact of the U.S. federal R&D credit, and tax benefits from share-based compensation, partially offset by state income taxes. The Company’s effective tax rate for 2023 was lower compared to 2022 due primarily to a lower effective tax rate on foreign earnings and the impact of U.S. foreign tax credit regulations issued by the U.S. Department of the Treasury in 2022, partially offset by lower tax benefits from share-based compensation.

Policy acquisition costs and administrative expenses were initially reported as 9,439 million U.S. dollars. Following unfavorable expense adjustments amounting to (23) million, the adjusted total came to 9,416 million U.S. dollars.

Iron Mountain's ALM services manage the lifecycle of IT assets from decommissioning to data erasure and disposal, securing customer data while maintaining a traceable and auditable custody chain.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

The company uses an estimated future cash flow approach that requires significant judgment with respect to future volume, revenue and expense growth rates, changes in working capital use, and the selection of an appropriate discount rate.

In February 2023, we announced a 10% increase in our quarterly cash dividend to $2.09 per share.

As of December 31, 2023, the total cash, cash equivalents, restricted cash, and marketable securities were reported to be $86,780 million.


Question: How much did Delta Air Lines recognize in government grants from the Payroll Support Programs during the year ended December 31, 2021?

Under the initial payroll support program under the CARES Act and PSP extensions we received support payments of grants, which included $4.5 billion of grants during the year ended December 31, 2021.

Insurance/Self-insurance Liabilities Claims for employee health-care benefits, workers’ compensation, general liability, property damage, directors’ and officers’ liability, vehicle liability, inventory loss, and other exposures are funded predominantly through self-insurance. Insurance coverage is maintained for certain risks to seek to limit exposures arising from very large losses. We use various risk management mechanisms, including a  wholly-owned captive insurance subsidiary, and participate in a reinsurance program.

For the year ended December 31, 2021, 341 thousand options were granted at Hilton with a weighted average exercise price per share of $146.18.

As of January 28, 2023, we have approximately 2,500 Dollar Tree Plus stores.

The Company’s purchases from the ATMP JV during 2023 and 2022 both amounted to $1.7 billion. The Company’s resales to the ATMP JV during 2023 and 2022 amounted to $14 million and $15 million, respectively.

Historically, the majority of gift cards are redeemed within one year. In addition, a portion of gift cards are not expected to be redeemed and will be recognized as breakage over time.

AmBisome (amphotericin B liposome for injection) is a proprietary liposomal formulation of amphotericin B, an antifungal agent, for the treatment of serious invasive fungal infections caused by various fungal species in adults.

We make available free of charge on the Investor Relations section of our corporate website all of the reports we file with or furnish to the SEC as soon as reasonably practicable, after the reports are filed or furnished.


Question: What are the five significant items that are quantified separately in the non-GAAP financial measures for meaningful interpretation of the results?

We believe it is important to separately quantify the profit impact of five significant items in order for our results to be meaningful to our readers. These items consist of (i) restructuring costs related to the divestiture of the company's Longwall business, (ii) other restructuring costs, (iii) pension and OPEB mark-to-market gains/losses resulting from plan remeasurements, (iv) certain deferred tax valuation allowance adjustments and (v) goodwill impairment in 2022.

The market price risk management policy manages how hedging instruments can be used to mitigate risk. These instruments are governed by certain rules set under the policy, aimed at quantifying and evaluating the market-based risks to strategize mitigations such as entering into hedging transactions.

SM&A expenses were $2,436.5 million in 2023, showing a 9% increase from $2,236.0 million in 2022, primarily driven by increased corporate expenses including a 12.2% rise in advertising expenses in North America.

GM Financial's penetration of our retail sales in the U.S. was 42% in the year ended December 31, 2023, compared to 43% in the corresponding period in 2022.

The auditing firm expressed an opinion that Alphabet Inc.'s consolidated financial statements presented fairly, in all material respects, the financial position of the company as of December 31, 2022 and 2023, and the results of operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with U.S. generally accepted accounting principles.

The company believes that the funds available, including cash expected to be generated from operations, funds from a commercial paper program, or lines of credit, are adequate to meet its working capital needs for the year, including the repayment of a $500 million debt.

Investment banking revenues in the consolidated statements of earnings were $6.22 billion for 2023, 16% lower than 2022, primarily due to significantly lower revenues in advisory, reflecting a significant decline in industry-wide completed mergers and acquisitions transactions, partially offset by significantly higher revenues in equity underwriting, primarily reflecting increased activity from secondary offerings.

In 2023, we incurred a pre-tax, noncash MTM gain of $650 million ($493 million, net of tax), related to the year-end actuarial adjustments of pension and postretirement healthcare plans’ assets and liabilities. In 2022, we incurred a pre-tax, noncash MTM loss of $1.6 billion ($1.2 billion, net of tax), which includes a net loss of $1.3 billion ($1.0 billion, net of tax) related to the year-end actuarial adjustments of pension and postretirement healthcare plans’ assets and liabilities.


Question: What is included in the lending-related fees in a Corporation's revenue structure?

Lending-related fees generally represent transactional fees earned from certain loan commitments, financial guarantees and SBLCs.

We have paid transition tax of $7.7 billion, which included $1.5 billion for fiscal year 2023. The remaining transition tax of $10.5 billion is payable over the next three years, with $2.7 billion payable within 12 months.

See’s Candy Shops, Incorporated ("See’s") produces boxed chocolates and other confectionery products with an emphasis on quality and distinctiveness in two large kitchens in Los Angeles and South San Francisco and a facility in Burlingame, California. See’s operates approximately 250 retail and volume saving stores located mainly in California and other Western states, as well as over 115 seasonal locations. See’s revenues are highly seasonal with approximately half of its annual revenues earned in the fourth quarter.

Because the hours of operation are shorter than many other retailers, and due to other efficiencies inherent in a warehouse-type operation, labor costs are lower relative to the volume of sales. Merchandise is generally stored on racks above the sales floor and displayed on pallets containing large quantities, reducing labor required.

Credit loss is determined by comparing the present value of the expected future cash flows for the security to the amortized cost basis of the

The company believes that the funds available, including cash expected to be generated from operations, funds from a commercial paper program, or lines of credit, are adequate to meet its working capital needs for the year, including the repayment of a $500 million debt.

JPMorgan Chase Bank, N.A., as an FDIC-insured depository institution with $100 billion or more in total assets, issubject to preparation and submission requirements under the FDIC's IDI Resolution Rule.


Question: What are the Coca-Cola system's commitments to product safety and quality?

The Coca-Cola system works every day to produce high-quality, safe and refreshing beverages for consumers around the world. It has rigorous product and ingredient safety and quality standards designed to ensure the safety and quality of each of its products, and drives innovation that provides new beverage options satisfying consumers’ evolving needs and preferences.

Information about our total net revenue by timing of recognition for the fiscal years ended March 31, 2023, 2022 and 2021 is presented below (in millions):  | Year Ended March 31,  | 2023 | | 2022 | | 2021 \nNet revenue by timing of recognition | | | | |  \nRevenue recognized at a point in time | $ | 2,389 | | | $ | 2,326 | | $ | 2,006 \nRevenue recognized over time | 5,037 | | | 4,665 | | | 3,623 \nNet revenue | $ | 7,426 | | | $ | 6,991 | | $ | 5,629

In 2023, UnitedHealthcare generated $29,068 million from operating activities.

•an increase in costs related to our operating channels of $319.1 million, comprised of: –an increase in employee costs of $145.1 million primarily due to increased salaries and wages expense, incentive compensation, and benefit costs for retail employees, primarily from the growth in our business and increased wage rates; –an increase in other operating costs of $67.7 million primarily due to increased depreciation costs, technology costs, and repairs and maintenance costs;  –an increase in variable costs of $66.8 million primarily due to increased credit card fees, distribution costs, and packaging cost...

We continue to monitor external factors like supply chain disruptions and work to minimize these challenges to meet customer demand, while assessing the environment for any additional actions needed.

Hewlett Packard Labs collaborates with an applied research group, investing in long-term technological advancements, including artificial intelligence software, advanced systems architectures, networking, and photonics.

To meet federal requirements that took effect in 2021, states have implemented new D-SNP requirements to strengthen Medicaid-Medicare integration for D-SNPs.

In 2023, total sales and trading revenue for Global Markets amounted to $17,376 million.


Question: What was the percentage change in total revenue from fiscal year 2022 to fiscal year 2023?

Total revenue decreased from $3,582.1 million in fiscal year 2022 to $2,800.2 million in fiscal year 2023, marking a 21.8% reduction.

The Company’s purchases from the ATMP JV during 2023 and 2022 both amounted to $1.7 billion. The Company’s resales to the ATMP JV during 2023 and 2022 amounted to $14 million and $15 million, respectively.

In 2023, Comcast restructured the presentation of its operating results around two primary business segments: Connectivity & Platforms and Content & Experiences. Connectivity & Platforms comprises two sub-segments, Residential Connectivity & Platforms and Business Services Connectivity, and Content & Experiences includes Media, Studios, and Theme Parks.

Because the hours of operation are shorter than many other retailers, and due to other efficiencies inherent in a warehouse-type operation, labor costs are lower relative to the volume of sales. Merchandise is generally stored on racks above the sales floor and displayed on pallets containing large quantities, reducing labor required.

Bermuda domiciled subsidiaries must prepare and file with the BMA, audited annual statutory financial statements and audited annual financial statements prepared in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP), International Financial Reporting Standards (IFRS), or any such other generally accepted accounting principles as the BMA may recognize. The U.S. GAAP audited financial statements are made public by the BMA.

Our effective tax rate in the future will depend upon the proportion between the following items and income before provision for income taxes: U.S. tax benefits from foreign-derived intangible income, tax effects from share-based compensation, research tax credit, tax effects from capital losses not expected to be utilized, restructurings, settlement of tax contingency items, tax effects of changes in our business, and the effects of changes in tax law.

The consolidated financial statements and accompanying notes are listed in Part IV, Item 15(a)(1) and are included elsewhere in the Annual Report on Form 10-K.

The Be Human pillar of our Impact Agenda sets out our focus areas with respect to human capital, including: •Inclusion, Diversity, Equity, and Action (“IDEA”); •Employee empowerment; and •Fair labor practices and the well-being of the people who make our products.


Question: Why is Note 16 important in the analysis of a Form 10-K for legal matters?

Note 16 is important in a Form 10-K for providing detailed information on legal proceedings as 'Commitments and Contingencies.'

FedEx allocates the net operating costs of the FedEx Services segment to other segments using specific metrics like relative revenue or estimated services provided to approximate the net cost of functions offered.

The worldwide effective income tax rate from continuing operations was 11.5% in 2023.

•Merchandise cost, which includes freight, decreased 255 basis points resulting primarily from higher initial mark-on, partially offset by higher freight costs and increased sales of lower margin consumable merchandise on the Family Dollar segment.

We currently believe that any liability that may arise as a result of other pending legal actions will not have a material effect on our consolidated financial condition or results of operations.

The company believes that the funds available, including cash expected to be generated from operations, funds from a commercial paper program, or lines of credit, are adequate to meet its working capital needs for the year, including the repayment of a $500 million debt.

As of December 31, 2023, The Hershey Company employed approximately 18,650 full-time and 1,855 part-time employees worldwide. Collective bargaining agreements covered approximately 6,295 employees, or approximately 31% of the Company’s employees worldwide.

General Motors operates through automotive segments which include GM North America (GMNA) and GM International (GMI).


Question: How does lululemon gather feedback for their product design?

Through our vertical retail strategy and direct connection with our customers, whom we refer to as guests, we are able to collect feedback and incorporate unique performance and fashion needs into our design process.

OPM regulations require that community-rated FEHB plans meet a FEHB program-specific minimum MLR by plan code and market. Managing to these rules is complicated by the simultaneous application of the minimum MLR standards and associated premium rebate requirements of the ACA.

Cash provided by operating activities during 2023 mostly consisted of $39.10 billion net income adjusted for certain non-cash items, such as $14.03 billion of share-based compensation expense and $11.18 billion of depreciation and amortization expense, as well as $3.29 billion of favorable changes in working capital. The increase in cash flows from operating activities during 2023 compared to 2022 was mostly due to an increase in cash collection from our customers driven by the increase in revenue, and a decrease in payments to our vendors.

At December 31, 2023 our net deferred tax liability balance was $665 million, including an $877 million valuation allowance primarily related to certain net realized and unrealized capital losses and certain state net operating losses.

Fiscal 2023 total gross profit margin of 35.1% represents an increase of 1.7 percentage points as compared to the respective prior year period.

DOJ Opioid Civil Litigation: A civil complaint pending in the U.S. District Court for the District of Delaware has been filed by the U.S. Department of Justice (the 'DOJ') against the Company, in which the DOJ alleges violations of the Controlled Substances Act related to nationwide distribution and dispensing of opioids.

Activities related to sales before 2023 experienced adjustments due to changes in estimates, impacting the rebates and chargebacks accounts, and led to an ending balance of $4,493 million for the year 2023.

Johnson & Johnson's consolidated statements of earnings for 2023 reported total net earnings of $35,153 million.


Question: What agencies conducted unannounced inspections at several companies in the automotive sector on March 15, 2022?

On March 15, 2022, the European Commission and the U.K. Competition and Markets Authority conducted unannounced inspections at the premises of, and sent formal requests for information to, several companies and associations active in the automotive sector.

In the second quarter of 2021, we classified the Vrio disposal group as held-for-sale and reported the disposal group at fair value less cost to sell, which resulted in a noncash, pre-tax impairment charge of $4,555, including approximately $2,100 related to accumulated foreign currency translation adjustments and $2,500 related to property, plant and equipment and intangible assets.

Technology and infrastructure costs include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and infrastructure costs.

In July 2022, the borrowing capacity under the back-up facilities expanded from $3.0 billion to $5.0 billion.

Over the last three years, Walmart International has undertaken strategic actions including divesting of Walmart Argentina, Asda Group... in the U.K., Seiyu in Japan, buying out noncontrolling interests in Massmart, exiting operations in Africa, and increasing ownership in PhonePe.

As of October 31, 2023, HP had approximately $102 million of recorded liabilities pertaining to uncertain tax positions.

Cash provided by (used in) investing activities was $(37,601) in 2022 and $(49,833) in 2023.

Critical assumptions that are used as part of a quantitative Family Dollar goodwill evaluation include: •The potential future revenue, EBITDA and cash flows of the reporting unit. The projections use management’s assumptions about economic and market conditions over the projected period.


Question: What was the net currency gain resultant from the U.S. Dollar strengthening against the Taiwan Dollar?

U.S. Dollar strengthening 9.7% against the Taiwan Dollar, resulting in a gain of $28.0 million.

Cash provided by (used in) investing activities was $(37,601) in 2022 and $(49,833) in 2023.

The adjusted operating loss decreased by $295 million, or 18.3%, in 2023 compared to 2022. This decrease was primarily driven by decreased operating expenses associated with the termination of certain transformation initiatives.

FDICIA establishes five capital categories for FDIC-insured banks, such as GS Bank USA: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized.

Visa Inc. reported a net income of $17,273 million for the fiscal year ended September 30, 2023.

The Financial Statement Schedule for IBM's 2023 filing is found on page S-1 of Form 10-K.

The consolidated financial statements and accompanying notes listed in Part IV, Item 15(a)(1) of the Annual Report on Form 10-K are included immediately following Part IV and incorporated by reference.

Privately held debt and equity securities are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. In determining the estimated fair value for these investments, we utilize the most recent data available and apply valuation methods, including the market approach and option pricing models (OPM), adjusted to reflect the specific rights and preferences of the classes of securities we hold.


Question: How much was the gain (loss) on investments for the fiscal years 2021, 2022, and 2023?

Gain (loss) on investments was $11 million in 2023, ($169) million in 2022, and $99 million in 2021.

In 2023, 80% of our total costs and expenses were recognized in FoA and 20% were recognized in RL.

Cash, cash equivalents and restricted cash at end of period | $ | 1,196.0 | | | $ | 1,319.9 | | $ | 635.0

Total intrinsic value of options exercised in millions was $41 in 2021, $28 in 2022, and $25 in 2023.

The lawsuits have been consolidated into a single Multi-District Litigation proceeding in the U.S. District Court for the District of Columbia.

Information on legal proceedings is conveyed by incorporating it by reference from 'Note 13 — Commitments and Contingencies — Litigation and Other Legal Matters' within the consolidated financial statements.

Note 16 is important in a Form 10-K for providing detailed information on legal proceedings as 'Commitments and Contingencies.'

During 2023, Comcast's Theme Parks segment saw an increase in revenue, largely from gains at international and Hollywood parks, though partially offset by a decline at the Orlando park. The Adjusted EBITDA rose as well, despite higher operational costs driven by more guests.


Question: What is the primary objective of the Management’s Discussion and Analysis of Financial Condition and Results of Operations as outlined by Hasbro?

The objective of the Management's Discussion and Analysis of Financial Condition and Results of Operations is to provide an analysis of the company’s Financial Condition, Cash Flows and Results of Operations from management's perspective.

The Chief Executive etc. does not manage segment results or allocate resources to segments when considering these costs and they are therefore excluded from our definition of segment income.

The Company allocates the transaction price to each performance obligation on a relative SSP basis. Judgment is required to determine the SSP for each distinct performance obligation. The Company determines SSP by considering its overall pricing objectives and market conditions. Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the customer demographic, the geographic area where services are sold, price lists, the Company's go-to-market strategy, historical and current sales and contract prices.

As of December 31, 2022, the total gross unrealized losses for available-for-sale securities were $114,128 and the total fair value was $1,357,615.

The average discount rate on the OPRB plan of 5.6% reflects the higher interest rates generally applicable in the U.S., which is where most of the plan participants receive benefits. A 100 basis-point change in the discount rate would impact annual after-tax OPRB expense by approximately $30 million.

Business operations at gaming facilities are subject to the licensing and regulatory control of the local regulatory agency responsible for gaming licenses and operations in those jurisdictions.

For 2023, Delta Air Lines rewarded its employees with $1.4 billion in profit sharing payments.

U.S. net revenues for the year ended December 31, 2023, amounted to $5,073 million, representing 50% of total net revenues.


Question: What state law limits the amount of reimbursement to providers for services provided to patients with commercial insurance who receive charitable premium assistance?

On October 13, 2019, California bill AB 290 was signed into law, limiting the amount of reimbursement paid to certain providers for services provided to patients with commercial insurance who receive charitable premium assistance.

We match 100% of the first 3% of pay contributed by each eligible employee and 50% on the next 2% of pay contributed each pay period through the 401(k) Plan.

Pre-tax earnings of the service group decreased $52 million (1.7%) in 2023 to $3.0 billion. Pre-tax earnings as a percentage of revenues were 14.5% in 2023, a decrease of 1.5 percentage points compared to 2022. The change in comparative earnings in 2023 reflected lower earnings from TTI and certain of our other service businesses, partially offset by increased earnings from aviation services and the impact of the IPS acquisition.

Cash dividends declared per common share for Comcast in 2023 was $1.16.

By the end of 2023, 114 PSU shares are expected to vest, each with an expected fair value of $1,557.11 per share.

Senior Floating Rate Notes due 2020 matured on April 17, 2020. The 4.00% Senior Notes due 2025 mature on May 15, 2025, and the 4.20% Senior Notes due 2028 mature on May 15, 2028, as per the offerings made on April 19, 2018.

Item 8 is typically used to refer to 'Financial Statements and Supplementary Data' in formal financial categorization.

The operating segments include ALLDATA, which produces, sells and maintains diagnostic, repair, collision and shop management software used in the automotive repair industry.


Question: What factors contribute to the seasonality of the hospitality industry?

Seasonality in the hospitality industry is affected by variations in demand at properties, which depend principally on their location, type of property, and the competitive mix within the specific location.

Our effective tax rate was 23.2% for 2023.

As a large BHC, JPMorgan Chase is subject to supervisory stress testing under the Federal Reserve's annual Comprehensive Capital Analysis and Review (CCAR) framework, requiring the conduct of annual company-run stress tests, submission of an annual capital plan, and filing an annual CCAR submission on April 5, 2024.

We are subject to income taxes and various other taxes in the U.S. and in many foreign jurisdictions; therefore, changes in both domestic and international tax laws or regulations have affected and may affect our effective tax rate, results of operations, and cash flows.

At December 31, 2023, we provided health insurance coverage under CMS contracts to approximately 5,408,900 individual Medicare Advantage members, including approximately 851,300 members in Florida. These Florida contracts accounted for premiums revenue of approximately $14.9 billion, which represented approximately 19% of our individual Medicare Advantage premiums revenue.

The consolidated financial statements and accompanying notes listed in Part IV, Item 15(a)(1) of the Annual Report on Form 10-K are included immediately following Part IV and incorporated by reference.

In September 2022, the FASB issued ASU No. 2022-04, “Liabilities—Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations,” which is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years.

Schwab's trading revenue decreased by 12% from 2022 to 2023.


Question: What were the ending unrecognized tax benefits for the fiscal year 2023?

Infrastructure software's operating income rose by $420 million from $5,219 million in fiscal year 2022 to $5,639 million in fiscal year 2023.

Under the expected present value technique, increasing the profit element and risk premium input by 100 basis points would result in a $1.2 million increase to the liability. Decreasing the profit element and risk premium by 100 basis points would result in a $1.2 million reduction of the liability.

Cash provided by (used in) investing activities was $(37,601) in 2022 and $(49,833) in 2023.

The audit report on the Consolidated Financial Statements is dated February 16, 2024, and was conducted by PricewaterhouseCoopers LLP.

Ford Pro's full year 2022 EBIT was $3.2 billion, up from $2.7 billion in 2021. The year-over-year increase of $557 million primarily reflects higher Ford Pro EBIT.

Reality Labs RL revenue in 2023 decreased $263 million, or 12%, compared to 2022. The decrease in RL revenue w...  Read More

Operating profit as a percentage of sales in 2022 and 2021 was 2.78% and 2.52% respectively.


Question: What are the restructuring targets of the company's Board of Directors as of 2023?

In March 2023, the Board of Directors sanctioned a restructuring plan concentrated on investment prioritization towards significant growth prospects and the optimization of the company's real estate assets. This includes substantial organizational changes such as reductions in office space and workforce.

The company recorded net earnings of $3,263 million and $1.1 billion of net income tax benefits related to discrete items in the provision for taxes for fiscal year 2023.

At January 28, 2023, we operated stores in 48 states and the District of Columbia, as well as stores in five Canadian provinces.

During the fourth quarter of 2023, the Company voluntarily changed its goodwill and indefinite-lived intangible asset annual impairment test date from September 30 to December 1. This voluntary change is preferable under the circumstances as it results in better alignment with the Company's strategic business planning and budgeting process.

The information for Legal proceedings in Item 3 is presented by incorporating it by reference to Note 19 in the Notes to Consolidated Financial Statements included in Item 8 of the report.

The Microsoft Cloud Solution Provider Program offers customers an easy way to license the cloud services they need in combination with the value-added services offered by their systems integrator, managed services provider, or cloud reseller partner. Partners in this program can easily package their own products and services to directly provision, manage, and support their customer subscriptions.

U.S. net revenues for the year ended December 31, 2023, amounted to $5,073 million, representing 50% of total net revenues.

We engaged third party experts to assist in the determination of the weighted-average cost of capital used to discount the cash flows for our Family Dollar reporting unit. The weighted-average cost of capital used to discount the cash flows for our evaluation was 9.5% for our fiscal 2022 analysis.


Question: What rate of income tax benefit was recorded in relation to pre-tax loss in 2023?

In 2023, the income tax benefit was recorded at 12.9% of pre-tax loss.

The section of the document, indicated as Item 8, specifically includes Financial Statements and Supplementary Data.

We use raw materials that are subject to price volatility caused by weather, supply conditions, political and economic variables and other unpredictable factors. We may use futures, options and swap contracts to manage the volatility related to the above exposures.

Our effective tax rate for fiscal years 2023 and 2022 was 19% and 13%, respectively.

In 2022, the gain on divestiture of subsidiaries represents the pre-tax gain on the sale of bswift, which the Company sold in November 2022, and the pre-tax gain on the sale of PayFlex, which the Company sold in June 2022. The gains on divestitures are reflected as a reduction of operating expenses in the Company’s GAAP consolidated statement of operations within the Health Care Benefits segment.

Goodwill and indefinite-lived intangible assets are initially recorded at their fair values.

As discussed in the report, Comcast modified the presentation of its segment operating results in 2023 to reflect a new segment structure.

The Corporate loss before interest and taxes primarily consists of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to our corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses.


Question: What was the effective tax rate for the year 2023?

Our effective tax rate was 23.2% for 2023.

Under the Company’s 2007 Amended and Restated Equity Incentive Compensation Plan (EIP), the compensation committee of the board of directors was authorized to grant up to 198 million shares of class A common stock to its employees and non-employee directors.

The ACA specifies minimum medical loss ratios (MLRs) for Commercial and Medicare Insured products, specifies features required to be included in commercial benefit designs, limits commercial individual and small group rating and pricing practices, encourages additional competition, and includes regulations and processes that could delay or limit the Company’s ability to appropriately increase its health plan premium rates.

Our 4th Gen AMD EPYC 9004 Series processors are built on the “Zen 4” 5 nanometer (nm) process node and are designed to deliver leadership performance and energy efficiency across a range of market segments and workloads.

In February 2023, we announced a 10% increase in our quarterly cash dividend to $2.09 per share.

For light- and medium-duty passenger cars and light trucks, EPA promulgated a rule in 2021 establishing GHG standards applicable from model years 2023 through 2026. This rule reversed a rollback of GHG standards that EPA had previously promulgated in 2020.

The increase in gross profit is primarily attributable to a decrease in freight expense as a result of lower ecommerce volume and added cost optimizations, partially offset by the translation impact of a stronger U.S. dollar.

FedEx Express is the world’s largest express transportation company, offering time-definite delivery to more than 220 countries and territories, connecting markets that comprise more than 99% of the world’s gross domestic product.


Question: What was the effect of divestitures on the Company's operating expenses in 2022?

In 2022, the gain on divestiture of subsidiaries represents the pre-tax gain on the sale of bswift, which the Company sold in November 2022, and the pre-tax gain on the sale of PayFlex, which the Company sold in June 2022. The gains on divestitures are reflected as a reduction of operating expenses in the Company’s GAAP consolidated statement of operations within the Health Care Benefits segment.

Exposures are aggregated, monitored, and actively managed by our Global Credit Committee, comprising senior executives, including our Chief Financial Officer, our Chief Risk ejectedf Officer, our Chief Investment Officer, and our Treasurer.

Losses and loss adjustment expenses increased $1.3 billion (13.5%) in 2023 compared to 2022, which increased $1.8 billion (22.0%) versus 2021. The loss ratio decreased 6.4 percentage points in 2023 compared to 2022, reflecting lower incurred losses from current year catastrophes and changes in business mix, including the impact of RSUI and CapSpecialty. Losses and loss adjustment expenses | | 11,224 | | 65.5 | | | | 9,889 |

We could be subject to penalties or other consequences if the OIG or a similar regulatory authority determines that we failed to comply with applicable laws, regulations or requirements, including, among other things substantial monetary penalties and exclusion from participation in federal healthcare programs that could have a material adverse effect on our business, results of operations, financial condition, cash flows, reputation and stock price.

The Corporate loss before interest and taxes primarily consists of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to our corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses.

Our high performance Ethernet transceivers are built upon a proprietary digital signal processing communication architecture optimized for high-speed network connections and support the latest standards and advanced features, such as energy efficient Ethernet, data encryption and time synchronization.

In 2023, no single customer accounted for more than approximately 1% of revenue for Iron Mountain.

Cash dividends declared per common share for Comcast in 2023 was $1.16.


Question: What was the dollar value of the cash dividends paid per share by Johnson & Johnson in 2023?

In 2023, Johnson & Johnson paid cash dividends amounting to $11,770 million, with a dividend rate of $4.70 per share.

The fair value hierarchy described includes three levels of inputs: Level 1 uses unadjusted quoted prices in active markets for identical assets or liabilities, Level 2 uses inputs that are directly or indirectly observable, and Level 3 involves unobservable inputs significant to the fair value determination supported by minimal market activity.

Masimo Masimo Corporation and Cercacor Laboratories, Inc. (together, “Masimo”) filed a complaint before the U.S. International Trade Commission (the “ITC”) alleging infringement by the Company of five patents relating to the functionality of the blood oxygen feature in Apple Watch Series 6 and 7.

We are subject to various U.S. federal and state laws pertaining to health care 'fraud and abuse,' including anti-kickback laws and false claim laws.

Note 13 in the Annual Report on Form 10-K includes information regarding commitments and contingencies associated with legal proceedings.

Privately held debt and equity securities are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. In determining the estimated fair value for these investments, we utilize the most recent data available and apply valuation methods, including the market approach and option pricing models (OPM), adjusted to reflect the specific rights and preferences of the classes of securities we hold.

In December 2021, the OECD issued Pillar Two model rules which would establish a global per-country minimum tax of 15%, and the European Union has approved a directive requiring member states to incorporate similar provisions into their respective domestic laws. The directive requires the rules to initially become effective for fiscal years starting on or after December 31, 2023.

The income tax provision was $74.2 million in the year ended December 31, 2023, as compared to $54.7 million in the same period in 2022.


Question: What are Iron Mountain's expectations for organic service revenue growth in 2024?

We expect organic service revenue growth in 2024 to benefit from our new and existing digital offerings and ALM, as well as our traditional services.

As of January 2023, the maximum daily borrowing capacity under the commercial paper program was approximately $2.75 billion.

The products and services under the AARP Program include supplemental Medicare benefits, hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age, and other related products.

Schwab's trading revenue decreased by 12% from 2022 to 2023.

We have built four principal software platforms, Palantir Gotham (“Gotham”), Palantir Foundry (“Foundry”), Palantir Apollo (“Apollo”), and Palantir Artificial Intelligence Platform (“AIP”).

For light- and medium-duty passenger cars and light trucks, EPA promulgated a rule in 2021 establishing GHG standards applicable from model years 2023 through 2026. This rule reversed a rollback of GHG standards that EPA had previously promulgated in 2020.

Under the 2020 Plan, the exercise price of options granted is generally at least equal to the fair market value of the Company’s Class A common stock on the date of grant.

For the year ended December 31, 2023, the net cash provided by operating activities was $13,426 million.


Question: What are the purposes of borrowings under the 2021 credit facility?

The 2021 credit facility is available for working capital, capital expenditures and other corporate purposes, including acquisitions and share repurchases.

FedEx Express is the world’s largest express transportation company, offering time-definite delivery to more than 220 countries and territories, connecting markets that comprise more than 99% of the world’s gross domestic product.

Broadband revenues increased in 2023 by 8.1% driven by an increase in fiber customers and higher average revenue per user, partially offset by declines in copper-based broadband services.

Exposures are aggregated, monitored, and actively managed by our Global Credit Committee, comprising senior executives, including our Chief Financial Officer, our Chief Risk ejectedf Officer, our Chief Investment Officer, and our Treasurer.

A stronger U.S. dollar negatively impacted net sales by $339 million in fiscal 2022.

Data and Analytics revenues increased 69% in 2023 from 2022 primarily due to $63 million of revenue from Black Knight following the completion of our acquisition in September 2023.

In 2023, $2.2 billion or 5% was primarily related to patient co-pay assistance, cash discounts for prompt payment, distributor fees, and sales return provisions.

Ford Pro's full year 2022 EBIT was $3.2 billion, up from $2.7 billion in 2021. The year-over-year increase of $557 million primarily reflects higher Ford Pro EBIT.


Question: How much did depreciation and amortization total to in the financial statements?

Depreciation and amortization totaled $4,856 as recorded in the financial statements.

Our strategic intent is to have a portfolio of efficient, timely and reliable sources and methods of delivery to choose from, optimizing order fulfillment and delivery based on customer needs, inventory locations and available transportation options.

Given the numerous legal challenges, including class actions and other litigation, Equifax considers potential settlements before trials to mitigate risks and uncertainties in litigation.

Under the Senior Credit Facilities, the company may increase the maximum leverage ratio to a maximum of 4.75 to 1.0 in the case of material acquisitions, given that certain requirements are fulfilled.

Net earnings attributable to Hasbro, Inc. declined in 2022 to $203.5 million, compared to $428.7 million in 2021.

The net realized and unrealized gains on level 3 derivatives of $2.66 billion for 2022 included gains of $2.65 billion reported in market making and $3 million reported in other principal transactions.

Effective July 1, 2023, the Life Insurance segment includes 100 percent of the results of Huatai Group's life and asset management business as required under consolidation accounting.

We generate revenue primarily from marketplace activities, including transaction (inclusive of offsite advertising), payments processing, and listing fees, as well as from optional seller services, which include on-site advertising and shipping labels.


Question: What was the change in interest income from 2022 to 2023, and what was the primary reason?

Our interest income was $989 million and $2.9 billion during 202itzerland and 2023, primarily due to an increase in prevailing rates.

Given the numerous legal challenges, including class actions and other litigation, Equifax considers potential settlements before trials to mitigate risks and uncertainties in litigation.

Visa Inc. reported a net income of $17,273 million for the fiscal year ended September 30, 2023.

U.S. net revenues for the year ended December 31, 2023, amounted to $5,073 million, representing 50% of total net revenues.

The company has pioneered many important innovations in the theatrical exhibition industry, such as multiplex theatres in the 1960s, the North American stadium-seated Megaplex theatre format in the 1990s, plush powered recliner seating, and the launch of the U.S. subscription loyalty tier, AMC Stubs® A-List.

As of December 31, 2023, we had net uncertain tax positions of $6.95 billion which were accrued as other liabilities.

We make available free of charge on the Investor Relations section of our corporate website all of the reports we file with or furnish to the SEC as soon as reasonably practicable, after the reports are filed or furnished.

Clinical trials generally require submission of an application for an investigational device exemption (IDE), which must be supported by appropriate data, such as animal and laboratory testing results.


Question: What are the primary reasons for the company's valuation allowances?

Our valuation allowances are primarily related to U.S. capital loss carryforwards and various foreign jurisdictions’ net operating loss carryforwards and other deferred tax assets.

The increase in cost of sales in absolute dollars in 2023, compared to the prior year, is primarily due to increased product and shipping costs resulting from increased sales, partially offset by fulfillment network efficiencies and lower transportation rates.

In February 2023, we announced a 10% increase in our quarterly cash dividend to $2.09 per share.

The Corporate loss before interest and taxes primarily consists of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to our corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses.

Global treaties and initiatives such as the Basel, Rotterdam and Stockholm Conventions on Chemicals and Waste focus on regulating chemical substances globally.

In assessing disability insurance claims, economic factors including GDP growth, employment trends, and disposable income figures are evaluated as part of the process to estimate liabilities for benefit claims.

In fiscal 2022, we announced our Reinvention Plan in the U.S. market to increase efficiency while elevating the partner and customer experience.

We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense in our consolidated statements of operations.


Question: What are the implications of a company disclosing violations of the Foreign Corrupt Practices Act?

Disclosures of FCPa violations may be shared with UK authorities, thus potentially exposing companies to liability and potential penalties in multiple jurisdictions. Violations of the FCPA and other anti-corruption laws may result in severe criminal and civil sanctions as well as other penalties, and there continues to be a heightened level of FCPA enforcement activity by the U.S. Securities and Exchange Commission (the SEC) and the DOJ.

In addition, Iron Mountain was named among Comparably's 2023 Best Companies for Women and Best Companies for Diversity.

Free cash flow is considered a non-GAAP financial measure, defined as net cash provided by operating activities in a period minus payments for property and equipment made in that period.

In March 2023, the Board of Directors sanctioned a restructuring plan concentrated on investment prioritization towards significant growth prospects and the optimization of the company's real estate assets. This includes substantial organizational changes such as reductions in office space and workforce.

The current portion of operating lease liabilities for the year ending January 28, 2023, is valued at $1,449.6 million.

The Pharmacy & Consumer Wellness segment of CVS Health Corporation is governed by federal, state, and local regulations including those that limit the sale of alcohol, mandate a minimum wage, and govern practices of optometry or audiology, or impact the provision of dietician services and the sale of durable medical equipment, contact lenses, eyeglasses and hearing aids.

To meet federal requirements that took effect in 2021, states have implemented new D-SNP requirements to strengthen Medicaid-Medicare integration for D-SNPs.

In December 2023 and December 2022, AT&T declared a quarterly preferred dividend of $36. In December 2023 and December 2022, AT&T declared a quarterly common dividend of $0.2775 per share of common stock.


Question: What was the net unrealized gain or loss for equity securities held as of December 31, 2023 and 2022?

For the years ended December 31, 2023 and 2022, the net unrealized gains (losses) for equity securities held at December 31, 2023 and 2022 were $(12) million and $(49) million, respectively.

Hilton Honors is Hilton's guest loyalty program, designed to generate significant repeat business by rewarding guests with points for each stay at Hilton properties. These points are redeemable for free or discounted room nights and other goods and services.

In November 2023, the company issued $500 million of 5.750% unsecured senior notes due December 1, 2028 and $850 million of 5.950% unsecured senior notes due March 15, 2034. The net proceeds, reduced for the underwriters' discounts and commissions paid, were $1.3 billion. These proceeds were used for general corporate purposes, including the repayment of existing indebtedness and borrowings under the commercial paper program.

If we determine that a loss is reasonably possible and the loss or range of loss can be estimated, we disclose the possible loss in Note 10 of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K.

In April 2023, we also accepted the December 2022 put option notice from the AT&T pension trust and repurchased the remaining 213 million Mobility preferred interests for a purchase price, including accrued and unpaid distributions, of $5,414.

Ford Blue's full year 2022 EBIT was $6.8 billion, an increase of $3.6 billion from 2021. The EBIT improvement was driven by higher net pricing and higher wholesales, offset partially by inflationary increases on commodity, material, and freight costs, higher warranty costs, higher structural costs, and weaker currencies.

Joint venture with AGC Equity Partners had a carrying value of $57,874 as of December 31, 2023.

The Financial Statements and Supplementary Data from pages 44 through 121 of IBM’s 2023 Annual Report to Stockholders are incorporated by reference in the Form 10-K.


Question: What percentage of FedEx Express global pickup-and-delelivery vehicle purchases will be electric by calendar 2025?

By calendar 2025, FedEx plans for 50% of FedEx Express global pickup-and-delivery vehicle purchases to be electric, rising to 100% of all purchases by calendar 2030.

At the time of our previous quantitative assessment in 2022, which was pursuant to our practice of performing quantitative assessments of cable franchise rights approximately once every four years.

We recognize revenue associated with Chipotle Rewards within food and beverage revenue on the consolidated statements of income and comprehensive income when a customer redeems an earned reward.

We consider operational risk to be the risk of loss due to, among other things, inadequate or failed processes, people or information systems, or impacts from the external environment, including failures to comply with laws and regulations as well as impacts from relationships with third parties.

Item 8 is titled Financial Statements and Supplementary Data in the financial document.

The net loss before income taxes showed a decrease of 59.8%, with amounts changing from $711.1 in 2022 to $286.0 in 2023.

The company's products and services are sold through partnerships with independent software vendors, systems integrators, and advisory firms. These partners help integrate the company's offerings into their own product and service solutions, assist in sales to clients purchasing their own products, and provide expertise in designing and implementing custom IT solutions.

The section of the document, indicated as Item 8, specifically includes Financial Statements and Supplementary Data.


Question: How much federal net operating loss carryforwards did the company have at the end of 2023, and how much of it is expected to be realized?

At December 31, 2023, the company has federal net operating loss carryforwards of $109.6 million, of which $88.7 million is expected to be realized to reduce future federal taxable income.

The term 'Part IV hereof' in the document refers to the section that directly precedes the consolidated financial statements.

Activities related to sales before 2023 experienced adjustments due to changes in estimates, impacting the rebates and chargebacks accounts, and led to an ending balance of $4,493 million for the year 2023.

The adjusted operating loss decreased by $295 million, or 18.3%, in 2023 compared to 2022. This decrease was primarily driven by decreased operating expenses associated with the termination of certain transformation initiatives.

In Printing, our long-term strategic focus is on offering innovative printing solutions and contractual solutions to serve consumers, SMBs and large enterprises through our Instant Ink Services, HP+ and Managed Print Services solutions; providing digital printing solutions for industrial graphics segments and applications including commercial publishing, labels, packaging, and textiles; and expanding our footprint in 3D printing across digital manufacturing and strategic applications.

Increases at our Macao operations were primarily driven by increases of $57 million in ferry operations due to the resumption of ferry services in January 2023, $31 million in entertainment revenue, $16 million in limo revenue, $5 million in retail revenue, $4 million in convention revenue and $14 million in other operating revenues (e.g., Eiffel Tower, spa, and gondola rides).

In 2023, no single customer accounted for more than approximately 1% of revenue for Iron Mountain.

The information required by Item 8 is included in Item 15(a) of the Annual Report.


Question: What were the Company's purchases from and resales to the ATMP JV during 2023 and 2022?

The Company’s purchases from the ATMP JV during 2023 and 2022 both amounted to $1.7 billion. The Company’s resales to the ATMP JV during 2023 and 2022 amounted to $14 million and $15 million, respectively.

IBM's 2023 Annual Report to Stockholders includes their financial statements and supplementary data, which span from pages 44 to 121 and are incorporated by reference in the Form 10-K. Additionally, the financial statement schedule can be found on page S-1 of the same Form 10-K.

For a description of our material pending legal proceedings, see Legal Matters in Array 10 of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on...

Principal repayments of finance leases in 2022 totaled $7,941 million.

Factors that most significantly influence a region's profitability are industry volume, market share and the relative mix of vehicles (trucks, crossovers, cars) sold.

As of December 31, 2023, we had a combined total of approximately 32 million member households enrolled in A-List, Premiere, and Insider programs.

For Online-Hosted Service Games, which require an internet connection for all functionalities, the company recognizes revenue continuously as the service is provided. This recognition is based on the premise that the online hosting represents a distinct and singular performance obligation.


Question: What are the key components used to define free cash flow in financial evaluations?

Free cash flow is considered a non-GAAP financial measure, defined as net cash provided by operating activities in a period minus payments for property and equipment made in that period.

The program allows paid members to earn points on purchases that can be redeemed for rewards including discounts or coupons. When loyalty program members purchase a product, the transaction price is allocated between the product and loyalty points earned based on relative stand-alone selling prices and expected point redemption. The portion allocated to loyalty points is recorded as deferred revenue and recognized as revenue upon redemption or expiration. Estimates such as the retail price per point and breakage are used to record the deferred revenue for loyalty points.

Revenue grew by 7.1% in 2023 compared to 2022.

We increased our common stock dividend by 22% during 2022.

The notional amount of foreign currency derivative contracts as of January 31, 2023 and January 31, 2022 was $6.0 billion and $6.1 billion, respectively.

Furthermore, the outcome of these matters could materially adversely affect our business, results of operations, and financial condition.

In the head-to-head Phase 4 IMMpulse study, significantly more patients achieved co-primary endpoints with Skyrizi versus Otezla and was well-tolerated with no new safety signals identified.

In 2022 and 2023, U.S. dialysis experienced increases in clinical labor wage rates, which includes contract labor, of approximately 1.3% and 7.4%, respectively.


Question: What medications were included in the CMS's first Selected Drug list?

Medicaid Services (“CMS”) published the first “Selected Drug” list, which includes XARELTO and STELARA as well as IMBRUVICA, which is developed in collaboration and co-commercialized in the U.S. with Pharmacyclics LLC, an AbbVie company.

In 2006, AT&T acquired ILEC BellSouth Corporation.

Amazon Prime, a membership program, offers fast, free shipping on tens of millions of items, access to award-winning movies and series, and other benefits.

Our associates spend 7 years at our Company, which is a testament to our commitment to their growth, well-being, and our culture.

In February 2023, we announced a 10% increase in our quarterly cash dividend to $2.09 per share.

The financial forecast indicated an estimated annual amortization expense for acquisition-related intangibles, with $2,145 million projected for the year 2025.

U.S. dialysis revenue growth of 3.2% from an increase in average patient services revenue per treatment of $12.20.

Net earnings declined modestly by $55 million to $14.7 billion due to the increase in earnings before income taxes, more than fully offset by the increase in the effective income tax rate discussed above.


Question: How is Florida's total insurance medical membership detailed in the data for December 31, 2023?

Insurance Medical Membership at December 31, 2020 for Florida includes Individual Medicare Advantage (851.3 thousand), Group Medicare Advantage (9.1 thousand), Medicare stand-alone PDP (131.9 thousand), Medicare Supplement (17.5 thousand), State-based contracts and Other (656.6 thousand), Fully-insured commercial Group (73.8 thousand), ASO (24.5 thousand), totaling 1,764.7 thousand members.

Net cash flows provided by investing activities was $117.6 million in 2023.

For enterprise networks, we offer product families with secure, encrypted switching capabilities and support lower power modes that comply with industry standards around energy efficient Ethernet.

Operating revenues from agricultural products increased 12.6% to $5.7 billion in 2022 compared to 2021.

In 2023, worldwide sales to customers increased by 6.5% compared to the previous year, rising from $79,990 million in 2022 to $85,159 million.

In December 2023, the PRA issued near final market risk rules for the U.K. which are expected to be effective from July 1, 2025.

The current portion of operating lease liabilities for the year ending January 28, 2023, is valued at $1,449.6 million.

These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions.


Question: How much did Hasbro's net earnings attributable to Hasbro, Inc. decline in 2022 compared to 2021?

Net earnings attributable to Hasbro, Inc. declined in 2022 to $203.5 million, compared to $428.7 million in 2021.

The total compensation and benefits costs recognized in expense for the year ended December 31, 2023, amounted to $292 million. This included expenses across various categories such as Investor Services and Advisor Services.

The following table presents earnings per share for fiscal 2023: Class A common stock had basic earnings per share of $8.29.

Hilton Honors members have the flexibility to use points earned from stays to book future stays using a combination of points and money. They can also transact with strategic partners such as credit card providers, airlines, and car rental companies.

In 2023, Impairment of goodwill of $1,191.2 million, or 23.8% of net revenues represents non-cash impairment charges of $960.0 million associated with the Company's Family Brands reporting unit recorded during the fourth quarter of 2023, reflecting a reduced long-term forecast due to lower profitability of PJ MASKS, and a change in outlook for the Company's owned and operated production efforts that shifted the Entertainment strategy to an asset lite and partner led model.

The 'Glossary of Terms and Acronyms' is included on pages 315-321.

At January 28, 2023, we operated stores in 48 states and the District of Columbia, as well as stores in five Canadian provinces.

Our effective tax rates could be affected by numerous factors, including changes in foreign exchange rates.


Question: Who maintains voting control over The Hershey Company?

Hershey Trust Company, as trustee for the trust established by Milton S. and Catherine S. Hershey that has as its sole beneficiary Milton Hershey School, maintains voting control over The Hershey Company.

DaVita Clinical Research (DCR) is a provider-based specialty clinical research organization with a wide spectrum of services for clinical drug research and device development. DCR uses its extensive real-world healthcare expertise to assist in the design, recruitment and completion of retrospective and prospective studies.

We paid $230 million and $42 million of interest on the term loan during the twelve months ended July 31, 2023 and July 31, 2022, respectively.

As of December 31, 2023, the carrying value of Alphabet Inc.'s non-marketable equity securities was $28.8 billion, including $13.7 billion remeasured at fair value during the year.

Specific details regarding a company's legal proceedings are mentioned in Note 12 to the Consolidated Financial Statements.

In 2022, the gain on divestiture of subsidiaries represents the pre-tax gain on the sale of bswift, which the Company sold in November 2022, and the pre-tax gain on the sale of PayFlex, which the Company sold in June 2022. The gains on divestitures are reflected as a reduction of operating expenses in the Company’s GAAP consolidated statement of operations within the Health Care Benefits segment.

In November 2023, the company issued $500 million of 5.750% unsecured senior notes due December 1, 2028 and $850 million of 5.950% unsecured senior notes due March 15, 2034. The net proceeds, reduced for the underwriters' discounts and commissions paid, were $1.3 billion. These proceeds were used for general corporate purposes, including the repayment of existing indebtedness and borrowings under the commercial paper program.


Question: What was the effective tax rate for Microsoft in fiscal year 2023?

Our effective tax rate for fiscal years 2023 and 2022 was 19% and 13%, respectively.

In 2023, the income tax benefit was recorded at 12.9% of pre-tax loss.

Garmin has implemented multiple environmental management systems and achieved certification to the ISO 14001 standard for Environmental Management at facilities in the U.S., U.K., Taiwan, Poland, and China.

A recent example of this was the September 2023 premier of the television series, Power Rangers Cosmic Fury season 30, released on the Netflix streaming platform.

Net income for 2021 was $7.8 billion, and it increased to $10.1 billion by 2023, reflecting a growth of $2.3 billion over two years.

Ford Blue's full year 2022 EBIT was $6.8 billion, an increase of $3.6 billion from 2021. The EBIT improvement was driven by higher net pricing and higher wholesales, offset partially by inflationary increases on commodity, material, and freight costs, higher warranty costs, higher structural costs, and weaker currencies.

We generate revenue primarily from marketplace activities, including transaction (inclusive of offsite advertising), payments processing, and listing fees, as well as from optional seller services, which include on-site advertising and shipping labels.


Question: What is the basis for the auditor's opinion on Palantir Technologies Inc.'s financial statements for the year ended December 31, 2023?

The auditor's opinion on Palantir Technologies' financial statements was based on extensive audits that involved evaluating risks of material misstatement, both from error and fraud. Procedures included examining evidence and evaluating the accounting principles and estimates used by management. The audits were conducted adhering to PCAOB standards, confirming the financial statements conform to U.S. generally accepted accounting principles.

We generally do not utilize derivative products, such as interest rate swaps, to manage interest rate risks and we do not attempt to match maturities of assets and liabilities.

During 2023, Comcast's Theme Parks segment saw an increase in revenue, largely from gains at international and Hollywood parks, though partially offset by a decline at the Orlando park. The Adjusted EBITDA rose as well, despite higher operational costs driven by more guests.

Specifically, for our main U.S. Excess/Umbrella portfolios, a five percentage point change in the tail factor could result in a change of approximately $0.7 billion, either positive or negative, for the projected net loss and loss expense reserves.

Hewlett Packard Labs collaborates with an applied research group, investing in long-term technological advancements, including artificial intelligence software, advanced systems architectures, networking, and photonics.

Our quarterly cash dividend is currently $0.19 per share, subject to declaration by our Board of Directors or a designated Committee of the Board of Directors.

The Company recognized $474 million of revenues and had obligations including a large liability for the guest loyalty program as of the end of 2023. This included performance obligations to Hilton Honors members for redeeming points along with licensing fees from a co-branded credit card arrangement. Auditors performed specific procedures to validate the clerical accuracy and adherence to accounting principles in the recognition of these revenues.


Question: What is internal control over financial reporting, and why is it important?

Definition and Limitations of Internal Control Over Financial Reporting: A company's internal control over financial reporting...includes those policies and procedures that: (1) pertain to the maintenance of records that...accurately and fairly reflect the transactions...; (2) provide reasonable assurance that transactions are recorded as necessary...; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets...

Over time, as digital information increased, Iron Mountain adapted by focusing on a hybrid model of physical and digital media storage, expanding its services accordingly.

In an insurance coverage litigation filed in 2004 in Wisconsin, the complaint sought a determination of the rights and obligations under various insurance policies regarding asbestos-related claims against Aqua-Chem, and the insurers also sought monetary judgments for amounts paid in excess of their obligations.

Entertainment segment operating losses in 2023 were driven primarily by a non-cash goodwill impairment charge of $960.0 million, reflecting a reduced long-term forecast due to lower profitability of PJ MASKS, and a loss on disposal of business of $539.0 million related to the sale of the eOne Film and TV business not directly supporting the Company's Entertainment Strategy, among other factors.

The total notional values of derivatives related to our foreign currency economic hedges were $6,989 million and $4,902 million as of December 31, 2023 and 2022, respectively.

Hilton Honors members have the flexibility to use points earned from stays to book future stays using a combination of points and money. They can also transact with strategic partners such as credit card providers, airlines, and car rental companies.

On May 5, 2022, the Court consolidated the Hialeah and Deulina Actions and appointed Robeco Capital Growth Funds SICAV – Robeco Global Consumer Trends as lead plaintiff. Lead plaintiff filed its amended complaint on June 25, 2022, purportedly on behalf of a class of individuals who purchased or otherwise acquired the Company’s common stock between February 5, 2021 and January 19, 2022 against the Company and certain of its current and former officers, alleging that the defendants made false and/or misleading statements about demand for the Company’s products and the reasons for the Company’s inventory growth, and engaged in improper trading in violation of Sections 10(b) and 20A of the Exchange Act.

See’s Candy Shops, Incorporated ("See’s") produces boxed chocolates and other confectionery products with an emphasis on quality and distinctiveness in two large kitchens in Los Angeles and South San Francisco and a facility in Burlingame, California. See’s operates approximately 250 retail and volume saving stores located mainly in California and other Western states, as well as over 115 seasonal locations. See’s revenues are highly seasonal with approximately half of its annual revenues earned in the fourth quarter.


Question: What benefits does the Microsoft Cloud Solution Provider Program offer to partners?

The Microsoft Cloud Solution Provider Program offers customers an easy way to license the cloud services they need in combination with the value-added services offered by their systems integrator, managed services provider, or cloud reseller partner. Partners in this program can easily package their own products and services to directly provision, manage, and support their customer subscriptions.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. The information required by this item is included in Item 15(a) of this Annual Report.

We do not believe that such normal and routine litigation will have a material effect on our financial condition or results of operations.

Pressures from private insurers and government payers often result in a reduction of the net product prices.

We increased our common stock dividend by 22% during 2022.

GM Financial's penetration of our retail sales in the U.S. was 42% in the year ended December 31, 2023, compared to 43% in the corresponding period in 2022.

The holding amounts of fixed-to-floating interest rate swaps, including the cumulative adjustments for fair value hedging, were specifically quantified as $1,060 million on October 1, 2023, with a hedging adjustment of $(40.0) million, and as $1,047.7 million on October 2, 2022, with a hedging adjustment of $(52.3) million.

ITEM 11. EXECUTIVE COMPENSATION Information regarding our executive compensation required by this item will be contained in our 2023 Proxy Statement under the captions “Executive Compensation”, “Compensation Committee Interlocks and Insider Participation”, “Director Compensation” and “Compensation Committee Report,” and is hereby incorporated by reference.


Question: What were the peak periods for COVID-19 vaccine administration in 2023 and 2022?

In contrast, contributions from COVID-19 vaccinations reached their highest quarterly volume during the fourth quarter of 2023. During the first quarter of 2022, the Company saw high volumes of administration of COVID-19 vaccinations, and during the fourth quarter, there was an increase in COVID-19 vaccine administration from the prior quarter related to the bivalent COVID-19 booster.

As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock.

FedEx Corporation was incorporated in Delaware on October 2, 1997 to serve as the parent holding company and provide strategic direction to the FedEx portfolio of companies.

Net cash provided by (used in) operating activities was $46,752 million in 2022 and increased to $84,946 million in 2023.

In connection with its new operating model adopted in the first quarter of 2023, CVS Health Corporation realigned the composition of its segments to include a new Health Services segment, which delivers a full range of pharmacy benefit management (PBM) solutions and health care services, and a Pharmacy & Consumer Wellness segment, which includes retail and long-term care pharmacy operations and related pharmacy services, as well as retail front store operations.

Excluding the items in the table below, adjusted profit per share for 2022 was $13.84 and for 2023 it was $21.21.

As of October 31, 2023, the company's unconditional purchase obligations totaled $1.6 billion.

Insurance segment premiums revenue increased $13.6 billion, or 15.5%, from $87.7 billion in the 2022 period to $101.3 billion in the 2023 period.


Question: What was the total net addition to property and equipment for AWS in the year 2023?

Total net additions to property and equipment for AWS in 2023 amounted to $24,843 million.

In 2023, Bank of America delivered approximately 6.7 million hours of training and development to its teammates through Bank of America Academy.

In 2023, non-cash impairment charges related to long-lived assets in U.S. theaters amounted to $49.2 million for 68 theaters with 738 screens.

Domestic wireless revenue increased in 2023 and 2022 primarily due to an increase in the number of customer lines. Wireless devices sales were consistent in 2023 compared to 2022 and increased in 2022 compared to 2021.

The net realized and unrealized gains on level 3 derivatives of $2.66 billion for 2022 included gains of $2.65 billion reported in market making and $3 million reported in other principal transactions.

Proceeds from issuance of long-term debt in 2023 amounted to $872.9 million.

Many of Garmin's products feature location technology such as Global Positioning System (GPS).

Forward-looking statements may appear throughout this report, including the following sections: “Business” (Part I, Item 1 of this Form 10-K), “Risk Factors” (Part I, Item 1A of this Form 10-K), and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (Part II, Item 7 of this Form 10-K).


Question: What was the main reason for the entertainment segment operating losses in 2023 at the Company?

Entertainment segment operating losses in 2023 were driven primarily by a non-cash goodwill impairment charge of $960.0 million, reflecting a reduced long-term forecast due to lower profitability of PJ MASKS, and a loss on disposal of business of $539.0 million related to the sale of the eOne Film and TV business not directly supporting the Company's Entertainment Strategy, among other factors.

Lauren D. Hotz has been Senior Vice President and Chief Accounting Officer since August 2022.

For the year ended December 31, 2021, 341 thousand options were granted at Hilton with a weighted average exercise price per share of $146.18.

We use comparable sales as a metric to evaluate the performance of our business. Refer to the Comparable Sales and Sales Per Square Foot section of this management's discussion and analysis of financial condition and results of operations for further information.

SM&A expenses were $2,436.5 million in 2023, showing a 9% increase from $2,236.0 million in 2022, primarily driven by increased corporate expenses including a 12.2% rise in advertising expenses in North America.

The total fair value of awards vested during 2023 was $77,626.

Historically, the majority of gift cards are redeemed within one year. In addition, a portion of gift cards are not expected to be redeemed and will be recognized as breakage over time.

The Company's internal control over financial reporting as of January 28, 2023, was audited based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).


Question: What types of insurance licenses does Caterpillar Insurance Co. Ltd. hold in Bermuda?

Caterpillar Insurance Co. Ltd. is registered as a Class 2 (General Business) and Class B (Long-Term) insurer with the Bermuda Monetary Authority.

In December 2021, the OECD issued Pillar Two model rules which would establish a global per-country minimum tax of 15%, and the European Union has approved a directive requiring member states to incorporate similar provisions into their respective domestic laws. The directive requires the rules to initially become effective for fiscal years starting on or after December 31, 2023.

The GDPR imposes a comprehensive data protection regime with the potential for regulatory fines as much as up to the greater of 4% of worldwide turnover or €20 million.

Disclosures of FCPa violations may be shared with UK authorities, thus potentially exposing companies to liability and potential penalties in multiple jurisdictions. Violations of the FCPA and other anti-corruption laws may result in severe criminal and civil sanctions as well as other penalties, and there continues to be a heightened level of FCPA enforcement activity by the U.S. Securities and Exchange Commission (the SEC) and the DOJ.

This decrease was primarily due to the decrease in net income excluding non-cash expenses, gains and losses of $2.93 billion, partially offset by favorable changes in net operating assets and liabilities of $1.46 billion.

As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock.

The average discount rate on the OPRB plan of 5.6% reflects the higher interest rates generally applicable in the U.S., which is where most of the plan participants receive benefits. A 100 basis-point change in the discount rate would impact annual after-tax OPRB expense by approximately $30 million.


Question: What was the cash amount spent by the reported company on income taxes in 2023?

We paid cash of $303.9 million for income taxes during 2023 compared to $221.3 million in the same period of 2022.

The objective of the Management's Discussion and Analysis of Financial Condition and Results of Operations is to provide an analysis of the company’s Financial Condition, Cash Flows and Results of Operations from management's perspective.

25 basis decrease expected ROA leads to -$25 effect on 2024 Pension Expense.

In an insurance coverage litigation filed in 2004 in Wisconsin, the complaint sought a determination of the rights and obligations under various insurance policies regarding asbestos-related claims against Aqua-Chem, and the insurers also sought monetary judgments for amounts paid in excess of their obligations.

Results on a constant currency basis, as presented, are not comparable to similarly titled measures used by other companies and are not a measure of performance presented in accordance with GAAP but provide insight by excluding the effects of foreign currency exchange fluctuations.

A 10% appreciation of the U.S. Dollar from the December 31, 2023 market rates would increase the unrealized value of the Company’s forward contracts by $0.1 billion.

We sell our products through NIKE Direct operations, which is comprised of both NIKE-owned retail stores and sales through our digital platforms (also referred to as 'NIKE Brand Digital'), to wholesale accounts and to a mix of independent distributors, licensees and sales representatives in nearly all countries around the world.

Our U.S. futures exchange, ICE Futures U.S., is subject to extensive regulation by the Commodity Futures Trading Commission, or CFTC, under the Commodity Exchange Act, or CEA.


Question: What are the main ingredients used in the company's products?

The company uses a variety of ingredients in their products, including high fructose corn syrup, sucrose, aspartame, and other sweeteners, as well as ascorbic acid, citric acid, phosphoric acid, caffeine, and caramel color; they also use orange and other fruit juice concentrates, and water is a main ingredient in substantially all products.

Chevron holds a concession to operate the Kingdom of Saudi Arabia’s 50 percent interest in the hydrocarbon resources in the onshore area of the Partitioned Zone between Saudi Arabia and Kuwait. The concession expires in 2046.

As of October 31, 2023, the company's unconditional purchase obligations totaled $1.6 billion.

The company's products and services are sold through partnerships with independent software vendors, systems integrators, and advisory firms. These partners help integrate the company's offerings into their own product and service solutions, assist in sales to clients purchasing their own products, and provide expertise in designing and implementing custom IT solutions.

We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense in our consolidated statements of operations.

Ford Pro's full year 2022 EBIT was $3.2 billion, up from $2.7 billion in 2021. The year-over-year increase of $557 million primarily reflects higher Ford Pro EBIT.

Item 3 of the Annual Report on Form 10-K refers to disclosures regarding legal proceedings, directing readers to Note 14 of the Notes to the Consolidated Financial Statements in Item 8.

As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock.


Question: What is the therapeutic purpose of Letairis?

Letairis (ambrisentan) is an oral formulation of an endothelin receptor antagonist for the treatment of pulmonary arterial hypertension (PAH) (WHO Group I) to improve exercise capacity and delay clinical worsening or in combination with tadalafil to reduce the risks of disease progression and hospitalization for worsening PAH, and to improve exercise ability.

We opened 26 new warehouses, including three relocations, in 2023, and plan to open up to 28 additional new warehouses, including one relocation, in 2024.

The complaint alleges that certain Amazon Prime Video features and services infringe several U.S. Patent Nos. related to video-on-demand systems and dynamic adjustment of electronic program guides.

Item 8 is typically used to refer to 'Financial Statements and Supplementary Data' in formal financial categorization.

The consolidated financial statements and accompanying notes are listed in Part IV, Item 15(a)(1) of the Annual Report on Form 10-K.

Penalties for impermissible use or disclosure of PHI were increased by the HITECH Act by imposing tiered penalties of more than $50,000 per violation and up to $1.5 million per year for identical violations.

Fiscal 2022 net cash used in financing activities increased $6.7 billion when compared to the previous fiscal year. The increase was primarily due to repayments of long-term debt and related payment of premiums for the early extinguishment of certain notes, as well as increased share repurchases, partially offset by long-term debt issuances and equity funding from the sale of subsidiary stock.


Question: What percentage of the company's workforce holds advanced degrees?

Recruitment As the demand for global technical talent continues to be competitive, we have grown our technical workforce and have been successful in attracting top talent to NVIDIA. We have attracted strong talent globally with our differentiated hiring strategies for university, professional, executive and diverse recruits. The COVID-19 pandemic created expanded hiring opportunities in new geographies and provided increased  flexibility for employees to work from locations of their choice. Our workforce is about 80% technical and about 50% hold advanced degrees.

Losses and loss adjustment expenses increased $1.3 billion (13.5%) in 2023 compared to 2022, which increased $1.8 billion (22.0%) versus 2021. The loss ratio decreased 6.4 percentage points in 2023 compared to 2022, reflecting lower incurred losses from current year catastrophes and changes in business mix, including the impact of RSUI and CapSpecialty. Losses and loss adjustment expenses | | 11,224 | | 65.5 | | | | 9,889 |

The company's Board of Directors approved a restructuring plan in March 2023, which includes various strategic actions. These actions are planned to be substantially completed by September 30, 2023, as per the outlined timeline.

Information about our total net revenue by timing of recognition for the fiscal years ended March 31, 2023, 2022 and 2021 is presented below (in millions):  | Year Ended March 31,  | 2023 | | 2022 | | 2021 \nNet revenue by timing of recognition | | | | |  \nRevenue recognized at a point in time | $ | 2,389 | | | $ | 2,326 | | $ | 2,006 \nRevenue recognized over time | 5,037 | | | 4,665 | | | 3,623 \nNet revenue | $ | 7,426 | | | $ | 6,991 | | $ | 5,629

In 2023, non-cash impairment charges related to long-lived assets in U.S. theaters amounted to $49.2 million for 68 theaters with 738 screens.

Johnson & Johnson's consolidated statements of earnings for 2023 reported total net earnings of $35,153 million.

In 2022, there was a net increase in cash and cash equivalents of $2,300 million.

In 2022 and 2023, U.S. dialysis experienced increases in clinical labor wage rates, which includes contract labor, of approximately 1.3% and 7.4%, respectively.


Question: Which section of IBM’s 2023 Annual Report is reserved for Financial Statements and Supplementary Data?

IBM's 2023 Annual Report reserves pages 44 through 121 for Financial Statements and Supplementary Data.

The warranty term for EV Chargers is 1 to 5 years depending on the product.

Revenues, profits and losses and total assets are shown in our Consolidated Financial Statements set forth in Item 8 below.

These contingency plans include our Financial Contession and Recovery Plan, which provides monitoring, escalation, actions and routines designed to enable us to increase capital and/or liquidity, access funding sources and reduce risk through consideration of potential options that include asset sales, business sales, capital or debt issuances, and other risk reducing strategies at various levels of capital or liquidity depletion during a period of stress.

Veklury product sales decreased by 44% to $2.2 billion in 2023, compared to 2022.

We sell our products through NIKE Direct operations, which is comprised of both NIKE-owned retail stores and sales through our digital platforms (also referred to as 'NIKE Brand Digital'), to wholesale accounts and to a mix of independent distributors, licensees and sales representatives in nearly all countries around the world.

On March 15, 2022, the European Commission and the U.K. Competition and Markets Authority conducted unannounced inspections at the premises of, and sent formal requests for information to, several companies and associations active in the automotive sector.

Company Adjusted EBIT Margin is derived by dividing the Company adjusted EBIT by Company revenue, which is a non-GAAP measure useful for evaluating the company's operating results.


Question: By what percentage did the refinery segment's operating revenue decrease in 2023 compared to 2022?

Refinery segment operating revenue decreased by 29% in 2023 compared to 2022.

The index to Financial Statements and Supplementary Data is presented in the document.

Achieved adjusted FIFO operating profit of $5.1 billion, which represents an 18% increase compared to 2021.

Net cash flows from operating activities | | 49,196 |

The total notional values of derivatives related to our foreign currency economic hedges were $6,989 million and $4,902 million as of December 31, 2023 and 2022, respectively.

In international markets, Starbucks invests in technology and partnerships to boost digital adoption, providing more convenience and enhancing the customer experience.

The consolidated financial statements and accompanying notes are listed in Part IV, Item 15(a)(1) and are included elsewhere in the Annual Report on Form 10-K.

Interest expense, net decreased $53.6 million in fiscal 2022 compared to the prior year, resulting from the refinancing of our debt in the fourth quarter of 2021, which resulted in prepayment penalties of $43.8 million and the acceleration of the expensing of $2.7 million of amortizable non-cash deferred financing costs. Higher interest income on investments more than offset interest expense on credit facility borrowings in the current year.


Question: What were the reasons for the decline in after-tax earnings of other energy businesses in 2023?

After-tax earnings of other energy businesses decreased $332 million (24.5%) in 2023 compared to 2022. The decline reflected lower earnings at Northern Powergrid due to unfavorable results at a natural gas exploration project, including the write-off of capitalized exploration costs and lower gas production volumes and prices, as well as from higher deferred income tax expense related to the enactment of the Energy Profits Levy income tax in the United Kingdom. The earnings decline was also attributable to lower earnings from renewable energy and retail services businesses. The decline in renewable energy and retail services earnings was primarily due to lower income tax benefits, higher operating expenses, lower solar and wind generation at owned projects and the impact of unfavorable changes in valuations of derivatives contracts, partially offset by debt extinguishment gains.

Hershey Trust Company, as trustee for the trust established by Milton S. and Catherine S. Hershey that has as its sole beneficiary Milton Hershey School, maintains voting control over The Hershey Company.

Statutory federal income tax expense at 21% was $107 million for the year ended December 30, 2023, $252 million for the year ended December 31, 2022, and $772 million for the year ended December 25, 2021.

In 2006, AT&T acquired ILEC BellSouth Corporation.

Dealer Inventories – Represents dealer machine and engine inventories, excluding aftermarket parts.

Our quarterly cash dividend is currently $0.19 per share, subject to declaration by our Board of Directors or a designated Committee of the Board of Directors.

On July 12, 2022, the company announced that they are exiting all owned-manufacturing operations and expanding their current relationship with Taiwanese manufacturer, Rexon Industrial Corp.

In 2023, the income tax benefit was recorded at 12.9% of pre-tax loss.


Question: What is the date of the report on the Consolidated Financial Statements provided by PricewaterhouseCoopers LLP?

The report on the Consolidated Financial Statements by PricewaterhouseCoopers LLP is dated February 16, 2024.

Professional Visualization We serve the Professional Visualization market by working closely with independent software vendors, or ISVs, to optimize their offerings for NVIDIA GPUs. Our GPU computing platform enhances productivity and introduces new capabilities for critical workflows in many fields, such as design and manufacturing and digital content creation.

For the year ending on December 31, 2021, Delta Air Lines recorded a special profit sharing expense of $108 million. This expense was based on the adjusted pre-tax profits earned during the second half of that year and was intended to recognize the extraordinary efforts of its employees through the pandemic.

The risk-free interest rate used in the Black-Scholes model for SOSARs granted in 2023 was 4.1%.

During this time, Ford reached an agreement with California on a set of terms for an alternative framework in which Ford committed to meet a designated set of standards on a national basis for model years 2021 through 2026 that were more stringent than the then-rolled back federal standards in lieu of the California regulatory program.

Company Adjusted EBIT Margin is derived by dividing the Company adjusted EBIT by Company revenue, which is a non-GAAP measure useful for evaluating the company's operating results.

Mr. Olsavsky has served as Senior Vice President and Chief Financial Officer since June 2015.

In 2023, we increased the top of the wage scales by 85 cents per hour in the U.S, Canada and Puerto Rico. In September of 2023, we increased the starting wage to at least $18.50 for all entry-level positions in the U.S. We have also expanded our benefits in the U.S. to include additional mental health support for children and adults at little to no cost to our employees.


Question: What factors are considered in assessing the likelihood of realizing the benefit of a deferred tax asset?

Since deferred taxes measure the future tax effects of items recognized in the Consolidated Financial Statements, certain estimates and assumptions are required to determine whether it is more likely than not that all or some portion of the benefit of a deferred tax asset will not be realized. In making this assessment, future taxable income, reversing temporary differences, and available tax planning strategies are analyzed and estimated.

Johnson & Johnson was incorporated in the State of New Jersey in 1887.

For the year ended December 31, 2023, matching contributions for the 401(k) Plan totaled approximately $13,821.

The cumulative change in fair value of the over-hedged portion of the related hedge contract is reclassified from Accumulated other comprehensive income (loss) to Other (income) expense, net during the quarter in which the decrease occurs.

Represents the target level of performance share units vested as of December 31, 2023 for the 2021-2023 performance period.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

Fiscal Year Highlights The Company’s total net sales were $383.3 billion and net income was $97.0 billion during 2023. The Company’s total net sales decreased 3% or $11.0 billion during 2023 compared to 2022. The weakness in foreign currencies relative to the U.S. dollar accounted for more than the entire year-over-year decrease in total net sales, which consisted primarily of lower net sales of Mac and iPhone, partially offset by higher net sales of Services.

Operating profit as a percentage of sales in 2022 and 2021 was 2.78% and 2.52% respectively.