Question: How does the company's manufacturing and materials usage influence its operational strategy?

The company employs outsourced and contract manufacturers around the world to manufacture products designed by the company, creating cost efficiencies and flexible manufacturing processes. It also manufactures some finished products directly from components sourced globally, using methodologies like building products to order and configuring products to order to optimize manufacturing and logistics efficiencies.

1.00% decrease in expected long-term rate of return on assets | $ | 150 | million | $ | — |  1.00% increase in expected long-term rate of return on assets | $ | (150) | million | $ | —

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.

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.

Item 8, titled 'Financial Statements and Supplementary Data', starts on page 39.

Apparel revenues decreased 14% on a currency-neutral basis, primarily due to lower revenues in Men's and Women's. Unit sales of apparel decreased 8%.

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.

As of December 31, 2023, our board is composed of 40% women and 10% people of color.


Question: What are some non-GAAP financial measures mentioned in the report and how are they derived?

We also refer to a number of financial measures that are not defined under accounting principles generally accepted in the United States of America (U.S. GAAP), consisting of organic sales growth, core earnings per share (Core EPS), adjusted free cash flow and adjusted free cash flow productivity. Organic sales growth is net sales growth excluding the impacts of acquisitions and divestitures and foreign exchange from year-over-year comparisons. Core EPS is diluted EPS excluding certain items that are not judged by management to be part of the Company's sustainable results or trends. Adjusted free cash flow is operating cash flow less capital spending and excluding payments for the transitional tax resulting from the U.S. Tax Act. Adjusted free cash flow productivity is the ratio of adjusted free cash flow to net earnings excluding certain one-time items.

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 increase in sales and marketing expense in the year ended December 31, 2023, as compared to the same period in 2022, was primarily due to $12.3 million of higher personnel-related expenses from a growth in headcount, $3.2 million of higher professional services, advertising costs and equipment costs, and $1.2 million provision for doubtful accounts.

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

Consumer segment operating income increased $224 million, or 9%, in fiscal 2023 compared with fiscal 2022, primarily due to the increase in revenue described above and lower marketing expenses.

The Civil Monetary Penalties Statute can lead to liability for several offenses, such as presenting false claims for payment, inducements likely to influence healthcare decisions, engaging excluded entities in federal healthcare programs, and not repaying known overpayments to the federal government.

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...


Question: What are the implications of the European Commission's legislative proposals on clearing services published in December 2022?

In December 2022, the European Commission published new legislative proposals on clearing services amending EMIR and provisions in the framework. The European Commission aims to encourage clearing in the EU and reduce exposure to non-EU CCPs through adding an operational account requirement, which could require EU-based firms to clear a proportion of their derivatives business at an EU CCP.

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.

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

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.

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.

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.

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.

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


Question: How are changes in economic factors considered in the assessment of disability insurance claims?

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.

The SEC has defined a company’s critical accounting policies as the ones that are most important to the portrayal of a company’s financial condition and results of operations, and which require a company to make its most difficult and subjective judgments.

Our purpose is to unite caring with discovery to create medicines that make life better for people around the world.

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.

Aqua-Chem filed a lawsuit in Wisconsin seeking a declaratory judgment that the company is responsible for all liabilities and expenses not covered by insurance related to certain liability claims from before the sale of Aqua-Chem, in addition to a breach of contract judgment for costs incurred to date exceeding $9 million.

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).

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.

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


Question: As of December 31, 2023, did The Hershey Company's internal control over financial reporting include the internal controls of Weaver Popcorn Manufacturing, Inc.?

As indicated in the accompanying Management’s Annual Report on Internal Control over Financial Reporting, management’s assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of the acquisition of certain assets that provide additional manufacturing capacity from Weaver Popcorn Manufacturing, Inc. on May 31, 2023, which is included in the 2023 consolidated financial statements of the Company and constituted 1.4% of total assets as of December 31, 2023.

All references to earnings per share data in MD&A are to diluted earnings per share, or EPS, unless otherwise noted. Diluted EPS is calculated to reflect the potential dilution that would occur if stock options or other contracts to issue common stock were exercised and resulted in additional common shares outstanding.

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

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

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

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.

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


Question: How many warehouses were opened in 2023 and what is the plan for 2024?

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

The pre-tax restructuring charge of approximately $0.5 billion in the fiscal year 2023, of which $449 million was recorded in Restructuring and $30 million was recorded in Cost of products sold on the Consolidated Statement of Earnings, included the termination of partnered and non-partnered program costs and asset impairments.

Interest Income and Other, Net   | 2023 | | 2022 | | 2021 Interest income | $ | 470 | | | $ | 61 | | $ | 41

The listing of our common stock on the NYSE could potentially create a conflict between the exchange’s regulatory responsibilities to vigorously oversee the listing and trading of securities, on the one hand, and our commercial and economic interest, on the other hand.

The Learning inspired by FedEx (LiFE) program, in partnership with The University of Memphis, offers a suite of education benefits including tuition-free, fully online degree options for over 30 associate's and bachelor's programs of study, and in 2022 expanded to include all majors The University of Memphis offers online.

Gross margin for total automotive decreased from 28.5% to 19.4% in the year ended December 31, 2023 as compared to the year ended December 31, 2022.

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: What was the purpose of the new D-SNP requirements implemented by states in 2021?

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

Our annual worldwide ARPU in 2023, which represents the sum of quarterly ARPU during such period, was $44.60, an increase of 13% from 2022.

Stored value cards and loyalty program at October 2, 2022 showed a balance of approximately $1.503 billion.

In July 2022, Peloton announced a strategic change in its manufacturing process, moving from in-house production to exclusively using third-party manufacturing partners for 100% of its products.

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

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

On July 2, 2023, The Hershey Company paid a total of $206.1 million in cash dividends.

As of August 26, 2023, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $8.2 million, before income taxes.


Question: How does the Internet Tax Freedom Act affect Comcast's business operations?

The Internet Tax Freedom Act plays a significant role in shaping the tax obligations and operational landscape for Comcast's internet-related 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.

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.

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

In October 2021, Comcast acquired Masergy, a provider of software-defined networking and cloud platforms for global enterprises, for a total cash consideration of $1.2 billion.

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.

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.

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.


Question: How did share repurchases affect The Hershey Company's EPS-diluted in 2022?

Our 2022 EPS-diluted also benefited from lower weighted-average shares outstanding as a result of share repurchases pursuant to our Board-approved repurchase programs.

Total current liabilities were listed as $81,814 million in the financial details provided.

Apparel revenues decreased 14% on a currency-neutral basis, primarily due to lower revenues in Men's and Women's. Unit sales of apparel decreased 8%.

In 2022, we recorded a goodwill impairment charge for Vitacost.com totaling $160 million. The talent and capabilities gained through the merger with Vitacost in 2014 have been key to advancing Kroger’s digital platform and growing our digital business to more than $10 billion in annual sales. As our digital strategy has evolved, our primary focus looking forward will be to effectively utilize our Pickup and Delivery capabilities. This reprioritization resulted in reduced long-term profitability expectations and a decline in the market value for one underlying channel of business and led to the impairment charge. Vitacost.com will continue to operate as an online platform providing great value natural, organic, and eco-friendly products for customers.

Garmin offers a full line-up of marine VHF radios and Automatic Identification System (AIS) transceivers with the latest feature sets including integrated GPS receivers for the communication needs of all types of mariners. Garmin radios are NMEA 2000 compatible and offer multi-station support, and monitor all AIS channels.

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

The rental costs for the U.S. markets decreased by 2.3% from 2022 to 2023, with values changing from $666.5 to $651.5.

All of our Company’s facilities and other operations in the United States and elsewhere around the world are subject to various environmental protection statutes and regulations, including those relating to the use and treatment of water resources, discharge of wastewater, and air emissions.


Question: What was the fair value of investments in fixed maturity securities at the end of 2023 after a hypothetical 100 basis point increase in interest rates?

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.

Basic net income per share is computed by dividing net income attributable to common stock by the weighted-average number of shares of common stock outstanding during the period.

The revenue from Electronic Games' football franchise, which includes perennially successful offerings like FIFA Ultimate T 2023.

While Item 8 discusses financial statements and supplementary data, the actual consolidated financial statements and notes are included elsewhere in the Annual Report on Form 10-K.

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.

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.


Question: How is information about legal proceedings incorporated in Item 3 of a Form 10-K?

In Item 3 of a Form 10-K, information regarding legal proceedings is derived by reference from Note 16 in the Notes to the Consolidated Financial Statements.

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.

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

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.

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

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

The board of directors regularly engages with management to facilitate a system of reporting designed to monitor human capital management initiatives as part of the overarching framework guiding workforce management.

At the end of fiscal 2022, a total of 315 of our stores, or 13.6% of our total store count, were located in Canada and Mexico.


Question: What contributed to the increase in Google Services' operating income in 2023?

The increase in operating income was primarily driven by an increase in revenues, partially offset by an increase in content acquisition costs and compensation expenses including an increase in SBU expense.

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.

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.

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 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.

Our management and investors can use FCF for the purpose of determining the amount of cash available for investment in our businesses, repurchasing stock and other purposes as well as evaluating our historical and prospective liquidity.

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.

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.


Question: What were the dividend amounts declared by AT&T for its preferred and common shares in December 2022 and December 2023?

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.

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.

Adjusted EBITDA excludes both interest expense, net and the provision (benefit) for income taxes. These expenses are associated with our capitalization and tax structures, which we do not consider when evaluating the operating profitability of our core operations. Adjusted EBITDA does not include depreciation and amortization expenses, in order to eliminate the impact of capital investments.

The decrease in gross margin for fiscal 2023 was primarily due to: Higher NIKE Brand product costs, on a wholesale equivalent basis, primarily due to higher input costs and elevated inbound freight and logistics costs as well as product mix; Lower margin in our NIKE Direct business, driven by higher promotional activity; Unfavorable changes in net foreign currency exchange rates; and Lower off-price margin.

At Hasbro Pulse our fans can find product offerings and experiences from our popular brands as well as access to views of behind-the-scenes material and insider details. In addition, Hasbro Pulse offers consumers access to product related livestreams such as fan oriented virtual conventions and product and merchandise reveals, as well as the opportunity to participate in HasLab, the Hasbro crowdfunding platform which brings limited-edition collectibles into the hands of fans.

Chubb Life offers a broad portfolio of protection and savings products including whole life, universal life, unit linked contracts, endowment plans, individual and life, group term life, health protection, personal accident, credit life, group employee benefits, and credit protection insurance.

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.

Garmin offers a full line-up of marine VHF radios and Automatic Identification System (AIS) transceivers with the latest feature sets including integrated GPS receivers for the communication needs of all types of mariners. Garmin radios are NMEA 2000 compatible and offer multi-station support, and monitor all AIS channels.


Question: What are the total commitments for convertible senior notes and term loans as of June 30, 2023?

As of June 30, 2023, commitments for convertible senior notes totaled $1,000.0 million and for the term loan totaled $742.5 million.

Following the initial 12 years of regulatory exclusivity, biologics may receive an additional 180-day exclusivity period for conducting pediatric studies as per the Biologics Price Competition and Innovation Act.

'Item 15. Exhibits and Financial Statement Schedules' includes the Exhibits and Financial Statement Schedules as specified in the report.

The increase in operating income was primarily driven by an increase in revenues, partially offset by an increase in content acquisition costs and compensation expenses including an increase in SBU expense.

The total revenue for 2023 was reported as $371,620 million.

For the year ended December 31, 2023, AT&T Inc. reported revenues at $122,428 million, operations and support expenses at $80,190 million, EBITDA at $42,238 million, depreciation and amortization at $18,777 million, and operating income at $23,461 million.

All references to earnings per share data in MD&A are to diluted earnings per share, or EPS, unless otherwise noted. Diluted EPS is calculated to reflect the potential dilution that would occur if stock options or other contracts to issue common stock were exercised and resulted in additional common shares outstanding.

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.


Question: What was the percentage increase in interest income from 2022 to 2023?

Interest income increased $769 million, or 259%, in the year ended December 31, 2023 as compared to the year ended December 31, 2022. This increase was primarily due to higher interest earned on our cash and cash equivalents and short-term investments in the year ended December 31, 2023 as compared to the prior year due to rising interest rates and our increasing portfolio balance.

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.

Ernst & Young LLP have served as the company's auditor since 2008, and they conducted their audits in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB).

As of December 31, 2023, no amounts were drawn under the 2022 Credit Facility and outstanding letters of credit totaled $29 million.

The Company is exposed to fluctuations in prices for energy, particularly electricity and natural gas, and other commodity products used in retail and manufacturing operations, which it seeks to partially mitigate through the use of fixed-price contracts for certain of its warehouses and other facilities, primarily in the U.S. and Canada.

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

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.

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.


Question: What was the annual amortization expense forecast for acquisition-related intangible assets in 2025, according to a specified financial projection?

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

We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measures.

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

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.

Dividends on common stock declared by our Board of Directors totaled $1.11 per share in 2023.

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

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

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...


Question: What was the total gross profit margin for Hewlett Packard Enterprise in fiscal 2023?

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.

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.

As of December 31, 2023, Delta Air Lines' future aircraft purchase commitments totaled approximately $17.5 billion. These commitments are for various aircraft models slated for delivery in upcoming years, stretching from 2024 to 2028 and thereafter.

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.

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.

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.

Chubb mitigates exposure to climate change risk by ceding catastrophe risk in our insurance portfolio through both reinsurance and capital markets, and our investment portfolio through the diversification of risk, industry, location, type and duration of security.

Under the contractual arrangements, approximately 70% of our jet fuel is purchased based on the index price for the preceding week, with the remainder of our purchases tied primarily to the index price for the preceding month and preceding day, rather than based on daily spot rates.


Question: What is the impact of the ACA on the Company's ability to change or set premium rates?

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.

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.

Cash flow before share repurchases and changes in debt was $2.2 billion for the fiscal year ended August 26, 2029.

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.

Key factors in AutoZone's store location decisions include future profitability, demographic profiles, vehicle types, customer trends, competition, and real estate costs, influencing where and when to establish new stores.

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

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.

The consolidated financial statements in the Annual Report on Form 10-K are incorporated by reference, indicating they are part of the document in a legal sense but not physically present in full within the document itself.


Question: What does the term 'Acquired brands' refer to and how does it affect the reported volumes?

'Acquired brands' refers to brands acquired during the past 12 months. Typically, the Company has not reported unit case volume or recognized concentrate sales volume related to acquired brands in periods prior to the closing of a transaction. Therefore, the unit case volume and concentrate sales volume related to an acquired brand are incremental to prior year volume.

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

For the year ended December 31, 2023, Ford reported consolidated revenues of $176,191 million.

At December 31, 2023, total assets were approximately $3.2 trillion, up $128.8 billion from December 31, 2022, primarily due to higher cash and cash equivalents.

Point of Service, or POS, plans allow members to choose, at the time medical services are needed, to seek care from a provider within the plan's network or outside the network. POS plans combine the advantages of HMO plans with the flexibility of PPO plans.

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.

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.

During 2023, AMC served as the theatrical distributor for two theatrical releases: TAYLOR SWIFT | THE ERAS TOUR and RENAISSANCE: A FILM BY BEYONCÉ.


Question: Where can one find the description of legal proceedings in an Annual Report?

See Note 14 to the consolidated financial statements in Item 8 of this Annual Report for a description of legal proceedings.

U.S. dialysis depreciation and amortization expense increased in 2023 primarily due to accelerated depreciation for expected center closures.

Due to a broad-based slowdown in product demand during 2023, Enphase Energy conducted a restructuring plan to reduce operating costs and realign its manufacturing operations, which included workforce reductions and ceasing operations at certain manufacturing locations.

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.

We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measures.

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.

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.

At December 31, 2023, the company had a total of $7.42 billion of unused committed bank credit facilities, which consisted primarily of a $3.00 billion credit facility expiring in December 2027 and a $4.00 billion 364-day facility expiring in September 2024.


Question: What is the main purpose of the Hilton Honors program?

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.

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.

The Financial Statements and Supplementary Data are located on pages 44 through 121 of IBM’s 2023 Annual Report to Stockholders.

Epkinly (epcoritimab) is a product used to treat adults with certain types of diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma that has recurred or that does not respond to previous treatment after receiving two or more treatments. Epkinly is administered as a subcutaneous injection.

of approximately $1.0 billion in IBNR liabilities, producing a corresponding decrease in pre-tax earnings. We believe it is reasonably possible for these assumptions to increase at these rates.

Our 2022 EPS-diluted also benefited from lower weighted-average shares outstanding as a result of share repurchases pursuant to our Board-approved repurchase programs.

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.

Marina Bay Sands is an iconic, architecturally significant Integrated Resort with meaningful scale and visitation. Due to its distinctive design, multitude of amenities and customer experiences shared on social media, and a prominent position as part of the Singapore skyline, Marina Bay Sands is recognized throughout Asia and globally.


Question: What was the net interest revenue for 2023?

In 2023, the net interest revenue was $9,427 million.

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.

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

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

The FCC or other regulatory authorities may adopt new or different regulations for MVNOs and/or mobile broadband providers in the future, which could adversely affect our wireless phone service offering or our business generally.

Item 3 of the Annual Report on Form 10-K guides the reader to Note 14 of the Notes to the Consolidated Financial Statements in Item 8 for information on legal proceedings.

The Report of Independent Registered Public Accounting Firm, our Financial Statements, the accompanying Notes to the Financial Statements, and the Financial Statement Schedule that are filed as part of this Report are listed under “Item 15. Exhibits and Financial Statement Schedules” and are set forth beginning on page 105 immediately following the signature pages of this Report.

President Biden accepted the terms of the climate agreement on January 20, 2021, and the U.S. completed its reentry on February 19, 2021.


Question: What was the operating revenue for the twelve months ended December 31, 2023?

Consolidated operating revenue for the twelve months ended December 31, 2023, was reported as $5,265.2 million.

In February 2023, we announced our planned exit from the Employer Group Commercial Medical Products business, which includes all fully insured, self-funded and Federal Employee Health Benefit medical plans, as well as associated wellness and rewards programs.

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.

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

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.

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.

Our annual worldwide ARPU in 2023, which represents the sum of quarterly ARPU during such period, was $44.60, an increase of 13% from 2022.

Fiscal 2023 net cash used in financing activities decreased $5.8 billion when compared to the previous fiscal year.


Question: How does Kroger present its financial performance in its reporting?

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

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.

UnitedHealth Group reported net earnings of $23,144 million in 2023.

Total company-operated stores | 711 | | 655

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.

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.

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.

The Consolidated Financial Statements, together with the Notes thereto and the report thereon dated February 16, 2024, of PricewaterhouseCoopers LLP, the Firm’s independent registered public accounting firm (PCAOB ID 238).


Question: How does Delta Air Lines account for the revenue from its marketing agreements, such as the one with American Express?

Delta Air Lines handles the revenue from marketing agreements by dividing the consideration among the various services delivered, which are valued based on the relative selling prices of these services.

The 1999 Repurchase Program was announced to repurchase common shares to reduce dilution from employee stock options and long-term incentive plans, with purchases limited to proceeds from stock option exercises and related tax benefits.

Cash flow before share repurchases and changes in debt was $2.2 billion for the fiscal year ended August 26, 2029.

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.

During fiscal year 2024, we expect to use our existing cash and cash equivalents, our marketable securities, and the cash generated by our operations to fund our capital investments of approximately $1.10 billion to $1.30 billion related to property and equipment.

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.

Starbucks' retail objective is to be the leader in coffee and tea in target markets, selling the finest quality products and providing a unique Starbucks Experience.

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


Question: What was the total cash and cash equivalents held by the company as of January 28, 2024?

As of January 28, 2024, we held cash and cash equivalents of $2.2 billion.

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 net earnings attributable to UnitedHealth Group common shareholders for the year 2023 was $22,381 million.

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.

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

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.

On March 30, 2023, the CFPB adopted a final rule requiring covered financial institutions, such as us, to collect and report data to the CFPB regarding certain small business credit applications.

GameStop generated $1.68 billion in aggregate gross proceeds from sales under the ATM Transactions during fiscal 2021.


Question: What percentage of Starbucks' total net revenues in fiscal 2023 was contributed by company-operated stores?

Revenue from company-operated stores accounted for 82% of total net revenues during fiscal 2023.

We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measures.

Net Sales Mix: North America | 61% | International | 23% | AWS | 16% | Consolidated | 100%

In 2023, we continued to invest in our colleagues, building on a wide range of learning and development opportunities and enhancing our competitive benefits in key areas including holistic health and wellness, total compensation and flexibility. We conduct an annual Colleague Experience Survey to better understand our colleagues’ needs and overall experience at American Express.

Theatrical revenue increased in 2022 primarily due to higher revenue from releases in our 2022 slate compared to releases in our 2021 slate, including F9.

Consumer Products segment operating results decreased $282.0 million to an operating loss of $64.7 million in 2023, compared to operating profit of $217.3 million in 2022. The operating profit margin decreased to -2.2% of net revenues in 2023 from 6.1% of net revenues in 2022.

Our compensation programs are designed to be legally compliant with employee compensation laws in all states and countries in which we operate.

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.


Question: What percentage of global face-to-face transactions were contactless in fiscal year 2023, excluding the United States?

Excluding the United States, 76 percent of face-to-face transactions globally were contactless in fiscal year 2023.

OPSUMIT (macitentan) is tailored for the therapeutic management of pediatric pulmonary arterial hypertension.

We believe that Free Cash Flow is a meaningful indicator of liquidity that provides information to our management and investors about the amount of cash generated from operations, after purchases of property and equipment, that can be used for strategic initiatives, including continuous investment in our business, growth through acquisitions, and strengthening our balance sheet.

The company believes that trademarks have significant value for marketing products, e-commerce, stores, and business, with the possibility of indefinite renewal as long as the trademarks are in use.

In December 2022, the European Commission published new legislative proposals on clearing services amending EMIR and provisions in the framework. The European Commission aims to encourage clearing in the EU and reduce exposure to non-EU CCPs through adding an operational account requirement, which could require EU-based firms to clear a proportion of their derivatives business at an EU CCP.

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.

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 projected future benefit payments for the Company's retirement plans are $1,481 million in 2024 and $1,473 million in 2025.


Question: How are gross realized gains and losses on available-for-sale debt securities accounted for in the consolidated statements of operations?

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.

'Item 15. Exhibits and Financial Statement Schedules' includes the Exhibits and Financial Statement Schedules as specified in the report.

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

Net revenue is also generated from the sale of software solutions that enable our customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

Adjusted EBITDA excludes both interest expense, net and the provision (benefit) for income taxes. These expenses are associated with our capitalization and tax structures, which we do not consider when evaluating the operating profitability of our core operations. Adjusted EBITDA does not include depreciation and amortization expenses, in order to eliminate the impact of capital investments.

Interest income increased $769 million, or 259%, in the year ended December 31, 2023 as compared to the year ended December 31, 2022. This increase was primarily due to higher interest earned on our cash and cash equivalents and short-term investments in the year ended December 31, 2023 as compared to the prior year due to rising interest rates and our increasing portfolio balance.

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.

Professional services and other revenues increased by $496 million from fiscal year 2022 to 2023.


Question: How has HPE adapted its business model in response to emerging technological megatrends?

HPE has deployed an edge-to-cloud strategy that capitalizes on emergent megatrends and delivers a data-first modernization approach for customers. HPE has evolved to a platform-based model, fueled by a portfolio richer in software and services.

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.

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

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 the fiscal year 2023, the Company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The pre-tax restructuring expense of $0.3 billion in the fiscal year 2023, of which $40 million was recorded in Restructuring and $279 million was recorded in Cost of products sold on the Consolidated Statement of Earnings, primarily included inventory and instrument charges related to market and product exits.

The unrecognized deferred income tax liability related to indefinitely reinvested accumulated foreign earnings is estimated to be $206 million as of fiscal year 2023.

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.

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


Question: What was the pre-tax restructuring charge for the year 2023?

The pre-tax restructuring charge of approximately $0.5 billion in the fiscal year 2023, of which $449 million was recorded in Restructuring and $30 million was recorded in Cost of products sold on the Consolidated Statement of Earnings, included the termination of partnered and non-partnered program costs and asset impairments.

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.

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

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


Question: What was the operational procedure performed to ensure the accuracy of the revenue recognition for the Hilton Honors guest loyalty and marketing program?

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.

A high proportion of relatively fixed structural costs, so that small changes in wholesale unit volumes can significantly affect overall profitability.

During 2022 and 2023, our operating margin was impacted by increased wage rates. During 2022, our gross margin was impacted by higher air freight costs as a result of global supply chain disruption.

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.

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.

Client operating loss was $46 million in 2023, compared to operating income of $1.2 billion in 2022. The decrease in operating income was primarily due to lower revenue.

At the end of fiscal 2022, a total of 315 of our stores, or 13.6% of our total store count, were located in Canada and Mexico.

The Home Depot Foundation focuses on improving the homes and lives of U.S. veterans, assisting communities affected by natural disasters, and training skilled tradespeople to fill the labor gap.


Question: How much did Botox Cosmetic net revenues increase internationally in 2023?

Internationally, Botox Cosmetic net revenues increased by 10% in 2023, primarily driven by recovery from COVID-19 in China and increased consumer demand across other key international markets.

Founded in 1919, Hilton has been an innovator in the hospitality industry, driven by the vision of founder Conrad Hilton.

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.

–an increase in other costs of $15.3 million primarily due to an increase in repairs and maintenance costs, depreciation, and technology costs, partially offset by a decrease in professional fees;

We do not believe that the resolution of these legal matters, including the matters described in this Annual Report, will have a material adverse effect on our consolidated financial condition, results of operations, or liquidity.

The company defines a 'Connected Fitness Subscription' as a person, household, or commercial property, such as a hotel or residential building, who has either paid for a subscription to a Connected Fitness Product (a Connected Fitness Subscription with a successful credit card billing or with prepaid  subscription credits or waivers) or has paused their subscription for up to three months.

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

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...


Question: What was the total net charge-offs as a percentage of average loans and leases outstanding in the first quarter of 2023?

Net charge-offs as a percentage of average loans and leases outstanding for the first quarter of 2023 was 0.25%.

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...

–an increase in other costs of $15.3 million primarily due to an increase in repairs and maintenance costs, depreciation, and technology costs, partially offset by a decrease in professional fees;

Net earnings to common totaled $952 million for the year ended December 2023 in Goldman Sachs' Asset & Wealth Management.

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

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.

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

Item 8 in Etsy, Inc.'s filings refers to 'Financial Statements and Supplementary Data,' including consolidated balance sheets, statements of operations, statements of comprehensive income (loss), statements of changes in stockholders' equity (deficit), and statements of cash flows.


Question: What was the variation in Ford Pro's EBIT from 2021 to 2022, and what caused this change?

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.

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

The Etsy, Reverb, and Depop marketplaces collectively connected a total of 9.0 million active sellers to 96.5 million active buyers as of December 31, 2022.

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.

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.

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.

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

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


Question: What was the aggregate intrinsic value for options that were both outstanding and exercisable as of May 31, 2023?

Options exercisable as of May 31, 2023 were 44.7 million with a weighted average option price of $79.95 per share, and the aggregate intrinsic value for options outstanding and exercisable as of May 31, 2023 was $1,380 million and $1,307 million respectively.

The pre-tax restructuring charge of approximately $0.5 billion in the fiscal year 2023, of which $449 million was recorded in Restructuring and $30 million was recorded in Cost of products sold on the Consolidated Statement of Earnings, included the termination of partnered and non-partnered program costs and asset impairments.

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.

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

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.

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.

Linzess (linaclotide) is a once-daily guanylate cyclase-C agonist used in adults to treat irritable bowel syndrome with constipation (IBS‑C) and chronic idiopathic constipation.

During fiscal 2022, we opened two new stores in the U.S.


Question: What is the effective date for the new accounting standard ASU No. 2022-04 regarding liabilities in supplier finance programs?

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.

At the end of fiscal 2022, a total of 315 of our stores, or 13.6% of our total store count, were located in Canada and Mexico.

Fiscal 2023 net cash used in financing activities decreased $5.8 billion when compared to the previous fiscal year.

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.

The Etsy, Reverb, and Depop marketplaces collectively connected a total of 9.0 million active sellers to 96.5 million active buyers as of December 31, 2022.

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.

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.

In general, with variations by country, our warehouses accept certain credit cards, including Costco co-branded cards, debit cards, cash and checks, Executive member 2% reward certificates, co-brand cardholder rebates, and our proprietary stored-value card (shop card).


Question: How does Chipotle calculate revenue recognition for redeemed Chipotle Rewards?

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.

In 2023, total earning assets were reported at 535,500, marking a decrease of 1 percent from the previous year's total of 539,032.

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.

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

These independent power projects sell power generated primarily from wind, solar, geothermal and hydro sources under long-term contracts.

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

The Civil Monetary Penalties Statute can lead to liability for several offenses, such as presenting false claims for payment, inducements likely to influence healthcare decisions, engaging excluded entities in federal healthcare programs, and not repaying known overpayments to the federal government.

ciltacabtagene autoleucel is indicated for the treatment of relapsed and refractory multiple myeloma in patients who have undergone 1-3 prior lines of therapy.


Question: How can Hilton Honors members use their points?

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.

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.

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.

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.

Founded in 1919, Hilton has been an innovator in the hospitality industry, driven by the vision of founder Conrad Hilton.

At the end of fiscal 2022, a total of 315 of our stores, or 13.6% of our total store count, were located in Canada and Mexico.

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.

On October 30, 2022, the fair value measurement of cash equivalents at the reporting date using Level 1 was $19 million.


Question: How did the change in non-rolling chip win percentage at The Venetian Macao from 2022 to 2023 affect overall revenues?

The non-rolling chip win percentage decreased by 1.5 points, which is reflected in the detailed financial performance of casino operating segments.

The total amortized cost and fair value of debt securities as of December 31, 2023 were listed as $48,054 million and $45,491 million, respectively.

As a global company, Enphase Energy faced risks from evolving macroeconomic conditions, including inflation, interest rates changes, fluctuations in foreign currency exchange rates, potential slowdowns or recessions, and geopolitical pressures including trade regulations and armed conflicts in Ukraine, the Gaza Strip, and nearby areas during 2023.

The company executed common shares repurchases worth $1.6 billion, $2.1 billion, and $79 million in 2023, 2022, and 2021, respectively, under share repurchase plans authorized by the Board of Directors in connection with employee stock plans.

At the end of fiscal 2022, a total of 315 of our stores, or 13.6% of our total store count, were located in Canada and Mexico.

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.

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.

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


Question: What type of business operations are subject to local regulatory control regarding gaming licenses?

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.

At December 31, 2023, the company had a total of $7.42 billion of unused committed bank credit facilities, which consisted primarily of a $3.00 billion credit facility expiring in December 2027 and a $4.00 billion 364-day facility expiring in September 2024.

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.

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

The PowerUp Rewards membership totals include 5.6 million paying pro members.

Our strategy is to combine best-of-breed technology leadership in semiconductor and infrastructure software solutions, with unmatched scale, on a common sales and administrative platform to deliver a comprehensive suite of infrastructure technology products to the world’s leading business and government customers.

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.

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.


Question: What factors primarily influenced changes in SG&A as a percentage of net sales?

The main drivers of changes in SG&A as a percentage of net sales are overhead and marketing cost savings, reinvestments (for example, increased advertising), inflation, foreign exchange fluctuations and scale impacts.

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

Linzess (linaclotide) is a once-daily guanylate cyclase-C agonist used in adults to treat irritable bowel syndrome with constipation (IBS‑C) and chronic idiopathic constipation.

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.

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

As of December 31, 2023, we had $47.9 billion in long-term debt outstanding, including unsecured debt and asset-backed securities.

While the outcome of this matter cannot be determined at this time, it is not currently expected to have a material adverse impact on our business.

Chubb's exposure to molestation claims principally arises out of liabilities acquired when it purchased CIGNA's P&C business in 1999 and Chubb Corp in 2016.


Question: What financial instruments does the company use to manage commodity price exposure?

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.

The fair value of U.S. wireless licenses is assessed using a discounted cash flow model (the Greenfield Approach) and a qualitative corroborative market approach based on auction prices, depending on auction activity.

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.

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.

Comprehensive loss attributable to AMC Entertainment Holdings, Inc. was $1,335.9 million in 2023.

Item 7 covers Management’s Discussion and Analysis of Financial Condition and Results of Operations.

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.

In November 2023, the FDIC approved a final special assessment to recover losses incurred by the DIF to protect uninsured depositors due to the March 2023 closures of two banks. The pre-tax impact of the final rule was $172 million.


Question: How much long-term debt did the company have outstanding as of December 31, 2023?

As of December 31, 2023, we had $47.9 billion in long-term debt outstanding, including unsecured debt and asset-backed securities.

In 2006, AT&T acquired ILEC BellSouth Corporation.

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

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.

(8) Inventory turnover is calculated as cost of sales divided by the average merchandise inventory balance over the trailing 5 quarters.

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.

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.

The total amortized cost and fair value of debt securities as of December 31, 2023 were listed as $48,054 million and $45,491 million, respectively.


Question: What role does Iron Mountain's ALM services play in IT asset management?

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.

Interest Income and Other, Net   | 2023 | | 2022 | | 2021 Interest income | $ | 470 | | | $ | 61 | | $ | 41

Deferred tax assets represent amounts available to reduce income taxes payable on taxable income in future years. Such assets arise because of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as from net operating loss and tax credit carryforwards.

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.

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.

The main drivers of changes in SG&A as a percentage of net sales are overhead and marketing cost savings, reinvestments (for example, increased advertising), inflation, foreign exchange fluctuations and scale impacts.

The auditing of Broadcom Inc.'s internal control over financial reporting as of October 29, 2023, was based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

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.


Question: What are the main components of technology and infrastructure costs?

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.

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.

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.

Garmin offers a full line-up of marine VHF radios and Automatic Identification System (AIS) transceivers with the latest feature sets including integrated GPS receivers for the communication needs of all types of mariners. Garmin radios are NMEA 2000 compatible and offer multi-station support, and monitor all AIS channels.

The company executed common shares repurchases worth $1.6 billion, $2.1 billion, and $79 million in 2023, 2022, and 2021, respectively, under share repurchase plans authorized by the Board of Directors in connection with employee stock plans.

The company's approach in alcohol focuses on three segments of alcohol ready-to-drink beverages: hard seltzers (e.g., Topo Chico Hard Seltzer), hard alternatives (e.g., Lemon-Dou) and pre-mixed cocktails (e.g., Jack Daniel’s & Coca-Cola).

Basic net income per share is computed by dividing net income attributable to common stock by the weighted-average number of shares of common stock outstanding during the period.

For the year ended December 31, 2023, AT&T Inc. reported revenues at $122,428 million, operations and support expenses at $80,190 million, EBITDA at $42,238 million, depreciation and amortization at $18,777 million, and operating income at $23,461 million.


Question: What were the total net gains on level 3 derivatives for Goldman Sachs in 2022?

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.

Linzess (linaclotide) is a once-daily guanylate cyclase-C agonist used in adults to treat irritable bowel syndrome with constipation (IBS‑C) and chronic idiopathic constipation.

Starbucks Card and the Rewards program offer a convenient payment solution and incentives to increase store visits and customer loyalty through various benefits linked to reward points gathered.

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.

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

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

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

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


Question: Does the company currently face any environmental proceedings with potential monetary sanctions exceeding $1 million?

Additionally, we are not involved in any environmental proceeding in which a governmental authority is a party, and such proceeding involves potential monetary sanctions that we reasonably believe will exceed an applied threshold of $1 million.

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.

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

The Second Development Agreement provides for a total minimum project cost of approximately SGD 4.5 billion.

The Company recognized impairment charges for the fiscal year ended June 30, 2022, primarily consisting of impairment loss of $57.6 million related to Connected Fitness assets, $21.3 million related to manufacturing equipment, $19.0 million related to Peloton Output Park and $15.9 million related to acquired technology. These impairment charges reduced the carrying value of these asset groups from $222.9 million to $109.1 million.

In July 2022, Peloton announced a strategic change in its manufacturing process, moving from in-house production to exclusively using third-party manufacturing partners for 100% of its products.

We create an engaging workplace by continuously listening to and acting on associate feedback. We provide several pulse check surveys to associates throughout the year that help us determine how emotionally connected those associates are to our customers, the Company, their jobs, fellow associates, and leaders.

Our management and investors can use FCF for the purpose of determining the amount of cash available for investment in our businesses, repurchasing stock and other purposes as well as evaluating our historical and prospective liquidity.


Question: What is the fiscal year-end date for the company discussed?

Our fiscal year ends on the Sunday closest to September 30.

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

The decrease in gross margin for fiscal 2023 was primarily due to: Higher NIKE Brand product costs, on a wholesale equivalent basis, primarily due to higher input costs and elevated inbound freight and logistics costs as well as product mix; Lower margin in our NIKE Direct business, driven by higher promotional activity; Unfavorable changes in net foreign currency exchange rates; and Lower off-price margin.

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 a discussion of legal and other proceedings in which we are involved, see Note 13 - Commitments and Contingencies in the Notes to Consolidated Financial Statements in Part II, Item 8 of this Annual Report on Form 10-K.

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

BHE plans to continue investing in renewable and other low-carbon generation and storage in the future and to cease coal operations at an additional 15 coal generation units between 2025 and 2030 in a reliable and cost-effective manner, thereby achieving a 50% reduction in GHG emissions from 2005 levels in 2030.


Question: By what year must VML complete the development of certain gaming and non-gaming investment projects according to the concession requirements?

As part of the investment, we are obligated to develop certain gaming and non-gaming investment projects by December 2032 and dedicate resources to, among others, the attraction of international visitors, conventions and exhibitions, entertainment shows, sporting events, culture and art, health and wellness, and themed attractions, as well as support Macao's position as a city of gastronomy and increase community and maritime tourism.

Revenue grew by 7.1% in 2023 compared to 2022.

The audited components of Salesforce, Inc.'s financial statements as of January 31, 2023, and for the three years ending on that date, included the consolidated balance sheets, the related consolidated statements of operations, comprehensive income, stockholders' equity, and cash flows.

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

The entire amount of a booking is reflected in GBV during the quarter in which booking occurs, whether the guest pays the entire amount of the booking upfront or elects to use our Pay Less Upfront program.

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.

Net deferred tax liabilities for the company on December 31, 2023 were listed as $58,583.

As of March 31, 2023, Electronic Arts Inc. reported total liabilities and stockholders’ equity amounting to $13,459 million.


Question: What U.S. laws pertain to healthcare fraud and abuse that a company must comply with?

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.

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.

As of December 31, 2023, Hilton managed 800 hotels with 250,472 rooms.

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

Item 3 of the Annual Report on Form 10-K guides the reader to Note 14 of the Notes to the Consolidated Financial Statements in Item 8 for information on legal proceedings.

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.

Starting in fiscal year 2024, Electronic Arts is transitioning its global football franchise to a new brand, EA SPORTS FC, with a vision to create the largest football club in the world and to connect more fans globally through innovative approaches.

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: What does management believe about the material adverse effect of current legal proceedings on the company?

The company is not currently a party to any legal proceeding that management believes will have a material adverse effect on our consolidated financial position or our results of operations.

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

Under the contractual arrangements, approximately 70% of our jet fuel is purchased based on the index price for the preceding week, with the remainder of our purchases tied primarily to the index price for the preceding month and preceding day, rather than based on daily spot rates.

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

Before her current role, Ms. O'Brien served as Senior Vice President and Deputy Chief Risk Officer from January 2022 to March 2023, and from 2016 to 2021 was Division President, North America Personal Risk Services.

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.

We continue to maintain a valuation allowance against our California research and development credit deferred tax assets due to the uncertainty regarding realizability of these deferred tax assets as they have not met the “more likely than not” realization criteria, particularly as we expect research and development tax credit generation to exceed our ability to use the credits in future years.

Our capabilities differ by market and include:  •Buy online pick-up in store - guests can purchase our products via our website or digital app and then collect that product from a retail location;  •Ship from store – we are able to fulfill e-commerce orders by accessing inventory at both our distribution centers and at our retail locations, expanding the pool of accessible inventory; •One inventory pool – we are able to view and allocate


Question: What were the net cash used in financing activities for the year ended December 31, 2022, and 2023?

Net cash used in financing activities | $ | (689) | | $ | (2,430)

In 2023, the net interest revenue was $9,427 million.

The impairment charges for Depop and Elo7 were influenced by factors such as macroeconomic conditions including reopening and inflation, as well as management changes and revised projected cash flows affecting their fair values.

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

On December 27, 2023, we completed the sale of our Entertainment One film and television business ('eOne Film and TV') to Lions Gate Entertainment Corp., Lions Gate Entertainment Inc. and Lions Gate International Motion Pictures S.à.r.l (collectively 'Lionsgate'), pursuant to the terms of an equity purchase agreement dated August 3, 2023 among Hasbro and Lionsgate. Lionsgate acquired the eOne Film and TV business for a purchase price of $375.0 million in cash, subject to certain purchase price adjustments plus the assumption by Lionsgate of production financing loans.

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.

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.

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.