Question: What are deferred tax assets and how do they arise?

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.

We believe that existing Cash and equivalents, Short-term investments and cash generated by operations, together with access to external sources of funds as described above, will be sufficient to meet our domestic and foreign capital needs in the foreseeable future.

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

Adjusted EPS is defined as reported earnings per share fully diluted from net income (loss) attributable to Iron Mountain Incorporated (inclusive of our share of adjusted losses (gains) from our unconsolidated joint ventures) and excluding certain items, specifically: (Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate), and other expenses (income), net, among others. It is considered valuable as it allows investors to compare results from past, present, and future periods without the effects of non-core operating variances.

losses were primarily from the following events: •2023: Hurricane Idalia, and other severe weather-related events in the U.S.

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.

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.

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.


Question: What is the total acreage covered by Chevron's exploration and production license awarded in May 2023 for Block G2/65 in Thailand?

In May 2023, Chevron was awarded an exploration and production license for Block G2/65, which covers 3.7 million net acres.

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

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.

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

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

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

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


Question: How much has been invested towards the goal of advancing equity in well-being as of January 28, 2024?

As of January 28, 2024, we have invested a total of $44.8 million(1) towards this goal.

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

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.

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.

Under Item 8 Financial Statements and Supplementary Data is discussed which includes a variety of financial reporting.

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.

Berkshire’s operating businesses are managed on an unusually decentralized basis. There are few centralized or integrated business functions. Berkshire’s senior management team participates in and is ultimately responsible for significant capital allocation decisions, investment activities and the selection of the Chief Executive to head each of the operating businesses.


Question: What condition does OPSUMIT (macitentan) treat in pediatric patients?

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

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.

Of the $16.4 billion in 2023, $14.3 billion or 33% of gross product sales was related to rebates and chargebacks.

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

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.

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

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

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.


Question: What principle did Garmin use to recognize revenue?

We recognize revenues when control of the promised goods or services is transferred to customers, under terms that generally include payment terms, customer payment performance, rights of return, and warranties, which reflect each party’s rights and obligations.

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

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

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.

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

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.

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.

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


Question: What strategic goals are set for the Printing segment at HP Inc.?

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.

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.

Intelligent Edge earnings from operations as a percentage of net revenue increased 12.4 percentage points primarily due to decreases in cost of products and services as a percentage of net revenue and operating expenses as a percentage of net revenue.

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

CSB and CSPB are Texas-chartered savings banks regulated by the Federal Reserve, Texas Department of Savings and Mortgage Lending, CFPB, and FDIC. Trust Bank is a Nevada-chartered savings bank regulated by the Federal Reserve, Nevada Financial Institutions Division, CFPB, and FDIC.

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

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.

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


Question: How does CARB enforce its ZEV mandates and what consequence faces non-compliance?

CARB enforces mandates requiring increasing percentages of Zero-Emission Vehicles (ZEVs) to be sold. Non-compliance with these mandates results in monetary penalties.

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

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

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

Voluntary cancellations generally become effective at the end of the prepaid membership period. Involuntary cancellations, as a result of a failed method of payment, become effective immediately.

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.

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

In 2023, Bank of America's total loans and leases charged off amounted to $4,817 million. This charge-off includes various categories such as Residential mortgage, Home equity, Credit card, Direct/Indirect consumer, Other consumer, U.S. commercial, Non-U.S. commercial, Commercial real estate, and Commercial lease financing.


Question: What is the completion timeline for the actions under the 2023 Restructuring Plan?

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

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

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

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.

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

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.

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.

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


Question: What were the major strategic changes Enphase Energy implemented in response to the slowdown in demand for their products in 2023?

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.

The decrease in the Company's effective income tax rate in 2023 was primarily due to the absence of certain nondeductible legal charges and basis differences on the sale of bswift and PayFlex in 2022.

A 100 basis-point change in the discount rate would impact annual after-tax benefit expense by approximately $130 million.

As of December 31, 2023, we had fixed lease payment obligations with $136 million payable within 12 months.

For a description of our significant pending legal proceedings, see Note 13 titled Commitments and Contingencies - Legal Proceedings of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K.

We recognize revenues when control of the promised goods or services is transferred to customers, under terms that generally include payment terms, customer payment performance, rights of return, and warranties, which reflect each party’s rights and obligations.

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.

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


Question: How do asset management and administration fees vary at The Charles Schwab Corporation?

Asset management and administration fees vary with changes in the balances of client assets due to market fluctuations and client activity.

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

However, any projections of future cash needs and cash flows are subject to substantial uncertainty.

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.

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.

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.

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

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.


Question: What financial measure does AbbVie believe provides a more complete understanding of the company's operations when used along with the GAAP measure?

AbbVie believes that the non-GAAP measure of change in net revenues at constant currency rates, when used in conjunction with the GAAP measure of change in net revenues at actual currency rates, may provide a more complete understanding of the company's operations.

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

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.

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

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

As of September 30, 2023, the Company had approximately 161,000 full-time equivalent employees.

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

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.


Question: What does 'Item 15. Exhibits and Financial Statement Schedules' include according to the report?

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

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

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

In Resource Masking Industries, we expect the profit impact from lower sales volume to be partially offset by favorable price realization.

Ms. Reynolds has served as Vice President, Worldwide Controller, and Principal Accounting Officer since April 2007.

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

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.


Question: What significant changes did the company announce on July 12, 2022, regarding their manufacturing operations?

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

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

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

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.

Kroger is committed to maintaining a net total debt to adjusted EBITDA ratio target range of 2.30 to 2.50.

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

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

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


Question: What are the primary business activities of the ALLDATA segment operated by the Company?

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

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

Note 17, 'Litigation and Contingencies,' to the Consolidated Financial Statements in Item 8 of Part II, which is incorporated herein by reference.

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

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

The total unrealized losses on U.S. Treasury securities amounted to $134 million.

Our primary marketplace, Etsy.com, and we own other marketplaces including Reverb and Depop. Reverb is a musical instrument marketplace, and Depop is a fashion resale marketplace.

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: In which form and page is the Financial Statement Schedule of IBM's 2023 filing found?

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

A 100 basis-point change in the discount rate would impact annual after-tax benefit expense by approximately $130 million.

In 2023, a total of 898 theatres were operated. The average number of screens per theatre was calculated to be 11.1.

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.

We serve our guests via our e-commerce websites, other country and region-specific websites, digital marketplaces, and mobile apps. E-commerce net revenue includes our buy online pick-up in store, back-back room, and ship from store omni-channel retailing capabilities.

During 2023, our women's range represented 64% of net revenue and our men's range represented 23% of net revenue.

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.

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


Question: What are the expected sources of funding for the company's capital needs in the foreseeable future?

We believe that existing Cash and equivalents, Short-term investments and cash generated by operations, together with access to external sources of funds as described above, will be sufficient to meet our domestic and foreign capital needs in the foreseeable future.

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.

Our Asia Pacific operation provides consumer and commercial information solutions products, marketing products, employment verification services and consumer credit protection products. We offer a full range annually

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).

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.

Resulting in a total store count of 2,322 at January 29, 2023.

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.

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.


Question: What is the primary therapeutic use of Linzess (linaclotide)?

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.

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.

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

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

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

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

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

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


Question: How much did the after-tax earnings of the real estate brokerage decrease in 2023, and what were the primary factors for this decrease?

After-tax earnings of real estate brokerage decreased $87 million (87.0%) in 2023 compared to 2022. The decrease reflected lower brokerage services revenues and margins, primarily due to a 19% reduction in closed brokerage transaction volumes, as well as lower mortgage services revenues and margins from a 28% decrease in closed transaction volumes. These declines were attributable to the impact of rising interest rates and lower existing home sales.

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

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.

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

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.

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

In 2023 the Company’s Entertainment segment used production financing to fund certain of its television and film productions.

We disclose material non-public information through one or more of the following channels: our investor relations website (http://corporate.lululemon.com/investors), the social media channels identified on our investor relations website, press releases, SEC filings, public conference calls, and webcasts.


Question: What was the total amount of gross-to-net deductions related to rebates and chargebacks for 2023?

Of the $16.4 billion in 2023, $14.3 billion or 33% of gross product sales was related to rebates and chargebacks.

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

The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.

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

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.

Subject to various United States and foreign laws and regulations, including those related to intellectual property, data privacy and security, cybersecurity, tax, employment, competition and antitrust, anti-corruption, anti-bribery, and AI. Compliance with these laws has no current material adverse impact on capital expenditures, results of operations or competitive position.

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.

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


Question: What is Equifax's general strategy for handling various legal actions?

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

Under the 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.

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

These assets are not amortized but are evaluated annually for impairment.

We also purchase, and plan to continue purchasing, carbon credits to fully achieve our emissions goals in the long-term. Our aim is to procure such credits from high integrity projects, with a focus on nature-based solutions where feasible.

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.

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.

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


Question: What specific regulatory bodies oversee the U.S. futures exchange, ICE Futures U.S.?

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

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%.

Item 8 is titled 'Financial Statements and Supplementary Data.'

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

In order to be considered 'well capitalized,' AENB must maintain CET1 capital, Tier 1 capital, Total capital, and Tier 1 leverage ratios of 6.5 percent, 8.0 percent, 10.0 percent, and 5.0 percent, respectively.

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

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

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


Question: What contributed to the decrease in net cash provided by operating activities in 2023?

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.

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

The Company recorded an income tax expense of $91,389 for the year ended December 31, 2022, with an effective tax rate of approximately 9%.

Details about legal proceedings are included in Part II, Item 8, "Financial Statements and Supplementary Data" of the Annual Report on Form 10-K, under the caption "Legal Proceedings".

During 2023, our women's range represented 64% of net revenue and our men's range represented 23% of net revenue.

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

Using these constant rates, total revenue and advertising revenue would have been $374 million and $379 million lower than actual total revenue and advertising revenue, respectively, for the full year 2023.

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.


Question: What new capabilities is lululemon integrating in their retail locations to enhance omni-channel experience?

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

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

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

In June 2023, we introduced the IQ� Energy Router family of devices in Germany and Austria to enable the integration of select third-party EV chargers and heat pumps into Enphase solar and battery systems.

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.

Several methods are used to promote our products, including the use of dealer, retail and fleet incentives, such as customer rebates and finance rate support.

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

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.


Question: What was the year-on-year change in the net loss percentage before income taxes from 2022 to 2023?

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.

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

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

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.

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

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.

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

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


Question: What were the total impairment charges for the fiscal year ended June 30, 2022, and how did they affect the carrying value of the affected asset groups?

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.

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.

Revenues were $307.4 billion, an increase of 9% year over year.

As of January 31, 2023, authorization for $19.3 billion of share repurchases remained under the share repurchase program.

Mergers and acquisitions, joint ventures and strategic investments complement our internal development and enhance our partnerships to align with Visa’s priorities.

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.

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

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


Question: In the context of the report, what method is used to provide information about Legal proceedings in Item 3?

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

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

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.

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.

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

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.

We are involved in litigation from time to time in the ordinary course of business.

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


Question: What are the primary types of businesses that Berkshire Hathaway Inc. owns?

Berkshire Hathaway Inc. ("Berkshire," "Company" or "Registrant") is a holding company owning subsidiaries engaged in numerous diverse business activities. The most important of these are insurance businesses conducted on both a primary basis and a reinsurance basis, a freight rail transportation business and a group of utility and energy generation and distribution businesses.

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.

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.

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.

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.

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

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.

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


Question: What was the total amortized cost and fair value of debt securities as of December 31, 2023?

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.

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

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.

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.

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.

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

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


Question: What is the total amount of the final special assessment approved by the FDIC in November 2023?

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.

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).

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

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

one of the largest railroad systems in North America. BNSF Railway had approximately 37,000 employees at the end of 2023, of whom approximately 32,000 were members of a labor union.

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

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

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.


Question: What are the trademarks under which Garan sells its apparel products?

K- Garan Incorporated (“Garan”), headquartered in New York, New York, designs, manufactures, imports and sells apparel primarily for children, including boys, girls, toddlers and infants. Products are sold under its own trademarks Garanimals® and 365 Kids from Garanimals® and easy-peasy®, as well as customer private label brands.

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.

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

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

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

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


Question: What was the cash flow from investing activities in 2023?

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

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

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

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

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.

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.

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.

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


Question: What amount of senior notes was repaid during fiscal 2022?

During fiscal 2022, $2.25 billion of senior notes was repaid.

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

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

Long-term investments, other than investments made through the Company’s Impact Investment Fund, with original maturities of greater than twelve months but less than 37 months, are classified as available-for-sale and are reported at fair value using the specific identification method. Unrealized gains and losses are primarily excluded from earnings and reported as a component of other comprehensive income (loss), net of related tax (expense) benefit.

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

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

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.


Question: What impact do changes in certain assumptions have on pension expense and benefit obligations?

Changes in certain assumptions could significantly affect pension expense and benefit obligations, particularly the estimated long-term rate of return on plan assets and the discount rates used to calculate such obligations.

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

At the end of fiscal 2023, the Company operated 6,300 stores in the U.S., 740 stores in Mexico and 100 stores in Brazil.

Principal repayments of financing obligations for 2023 amounted to $271 million.

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

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.

Our effective tax rate was 23.2% for 2023.

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: What were the components of the increase in costs related to operating channels in 2023?

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

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.

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

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.

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.

Our Asia Pacific operation provides consumer and commercial information solutions products, marketing products, employment verification services and consumer credit protection products. We offer a full range annually

•Operating income increased $321 million, or 2%, to $18.1 billion versus year ago due to the increase in net sales, partially offset by a modest decrease in operating margin.

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


Question: Where is the index to the Financial Statements and Supplementary Data located?

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

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.

The total intrinsic value of options exercised was $35,474, $40,882 and $38,645 in 2023, 2022 and 2021, respectively.

Using these constant rates, total revenue and advertising revenue would have been $374 million and $379 million lower than actual total revenue and advertising revenue, respectively, for the full year 2023.

The Macao government announced gross gaming revenue increased approximately 333.8% and decreased approximately 37.4%, during the year ended December 31, 2023, as compared to 2022 and 2019, respectively.

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.

U.S. large cap investments include a mix of index funds and actively managed equity accounts that are benchmarked to various large cap indices.

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.


Question: How does the net cash from operating activities in 2023 compare to that of 2022?

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

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.

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.

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

The description of legal proceedings in Item 3 of the report is not direct but instead provided by reference to the "Contingencies" section in Note 15 of the consolidated financial statements.

Other financial futures and options revenues were $161 million in 2023 and $183 million in 2022, respectively.

As of January 31, 2023, authorization for $19.3 billion of share repurchases remained under the share repurchase program.

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


Question: What details are provided in the Commitments and Contingencies note of the Consolidated Financial Statements in the Annual Report on Form 10-K?

For a description of our significant pending legal proceedings, see Note 13 titled Commitments and Contingencies - Legal Proceedings of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K.

Changes in certain assumptions could significantly affect pension expense and benefit obligations, particularly the estimated long-term rate of return on plan assets and the discount rates used to calculate such obligations.

Cash used in financing activities in fiscal 2022 was primarily attributable to settlement of stock-based awards.

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.

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

Visa's rule (and a similar Mastercard rule) that if an ATM operator chooses to charge consumers an access fee for a Visa or Plus transaction, that fee cannot be greater than the access fee charged for transactions on other networks.

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.

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


Question: What is the specialty of See's Candy Shops, and how seasonal is their revenue pattern?

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

Resulting in a total store count of 2,322 at January 29, 2023.

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.

Garmin offers the quatix series wearable, GPS-enabled smartwatches designed for mariners, which include marine features for navigation, sailing, stereo control, autopilot functions, tidal information, a built-in LED flashlight, and solar charging, depending on model.

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

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

Berkshire Hathaway Inc. ("Berkshire," "Company" or "Registrant") is a holding company owning subsidiaries engaged in numerous diverse business activities. The most important of these are insurance businesses conducted on both a primary basis and a reinsurance basis, a freight rail transportation business and a group of utility and energy generation and distribution businesses.

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


Question: What major business decision did Humana announce in February 2023 about its commercial products?

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.

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

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

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

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.

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

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

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


Question: Are goodwill and indefinite-lived intangible assets amortized?

These assets are not amortized but are evaluated annually for impairment.

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.

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

Shipping The company’s marine fleet includes both U.S. and foreign flagged vessels. The operated fleet consists of conventional crude tankers, product carriers and LNG vessels.

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

The Secretary of Health and Human.pathname_key_services may issue an Emergency Use Authorization (EUA) to authorize unapproved medical products, or unapproved uses of approved medical products, to be manufactured, marketed, and sold in the context of an actual or potential emergency designated by the government.

The Company uses a variety of techniques designed to help encourage appropriate utilization of medical services ("utilization") and maintain affordability of quality coverage. These techniques include creating risk sharing arrangements that align economic incentives with providers, the development and implementation of guidelines for the appropriate utilization and the provision of data to providers to enable them to improve health care quality.


Question: Why was there a net outflow of cash in financing activities in fiscal 2022?

Cash used in financing activities in fiscal 2022 was primarily attributable to settlement of stock-based awards.

Cash, cash equivalents and marketable securities totaled $1,390.6 million as of January 28, 2023.

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

ITEM 3. LEGAL PROCEEDINGS Refer to Note 15 – Contingencies of the Notes to Financial Statements (Part II, Item 8 of this Form 10-K) for information regarding legal proceedings in which we are involved.

Participation in the Medicare ESRD program requires that dialysis services at an outpatient dialysis center be under the general supervision of a medical director who is usually a board certified nephrologist. Medical directors enter into written contracts that specify their duties and fix their compensation, reflecting their professional qualifications, responsibilities, and effort required.

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

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

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.


Question: What were the primary factors influencing profitability in the automotive market in 2023?

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

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

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

Note 17, 'Litigation and Contingencies,' to the Consolidated Financial Statements in Item 8 of Part II, which is incorporated herein by reference.

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

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

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

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


Question: What does Note 11 in the Consolidated Financial Statements of an Annual Report on Form 10-K cover?

Under Part I, Item 3 (Legal Proceedings) of the Annual Report on Form 10-K, the relevant information is found in Note 11—Commitments and Contingencies in the Consolidated Financial Statements.

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

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

The carrying values of equity securities were included in the following line items in our consolidated balance sheets. The total equity securities value was $2,006 million on December 31, 2023, and $2,070 million on December 31, 2022.

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.

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

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


Question: How much did a stronger U.S. dollar negatively impact net sales in fiscal 2022?

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

In June 2023, we introduced the IQ� Energy Router family of devices in Germany and Austria to enable the integration of select third-party EV chargers and heat pumps into Enphase solar and battery systems.

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

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.

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

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.

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.

Critical accounting policies and estimates that impact financial statements include Revenue Recognition, Business Combinations, Goodwill, and Accounting for Income Taxes, requiring judgments and estimates in financial reporting.


Question: What are the benefits of registering trademarks for the company's business?

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.

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).

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.

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

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

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.

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.

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.


Question: What recent example demonstrates how Hasbro supports its brands through entertainment platforms?

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.

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.

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

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.

Resulting in a total store count of 2,322 at January 29, 2023.

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

Mergers and acquisitions, joint ventures and strategic investments complement our internal development and enhance our partnerships to align with Visa’s priorities.

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 section of a document might you find financial statements and supplementary data?

Item 8 is typically associated with the discussion of Financial Statements and Supplementary Data.

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.

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

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

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.

Revenues were $307.4 billion, an increase of 9% year over year.

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.


Question: What is included under Item 8 in a financial document?

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

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.

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

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.

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

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

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

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


Question: What global changes affected Enphase Energy’s business operations in 2023?

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.

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

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

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

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

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.

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

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.


Question: What notable technology do most of Garmin's products feature?

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

Revenues were $307.4 billion, an increase of 9% year over year.

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

–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;

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

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.

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.

2024 Strategic Objectives AbbVie's mission is to discover and develop innovative medicines and products that solve serious health issues today and address the medical challenges of tomorrow while achieving top-tier financial performance through outstanding execution. AbbVie intends to execute its strategy and advance its mission in a number of ways, including: (i) maximizing the benefits of a diversified revenue base with multiple long-term growth drivers; (ii) leveraging AbbVie's commercial strength and international infrastructure across therapeutic areas and ensuring strong commercial execution of new product launches; (iii) continuing to invest in and expand its pipeline in support of opportunities in immunology, oncology, aesthetics, neuroscience and eye care a...


Question: What is the expected financial impact of transfer pricing issues on the consolidated financial statements?

As of June 30, 2023, the primary unresolved issues for the IRS audits relate to transfer pricing, which could have a material impact in our consolidated financial statements when the matters are resolved.

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.

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.

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

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

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

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

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


Question: What are the primary currencies that pose a foreign currency risk to the company besides the U.S. dollar?

Foreign Currency Risk We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations).

During fiscal 2022, $2.25 billion of senior notes was repaid.

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

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

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

Total company-operated stores | 711 | | 655

Cash provided by (used in) operating activities changed from $(434.3) million in 2021 to $108.2 million in 2022, making a change of $542.5 million.

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.


Question: What was the reason for the increase in the contribution from merchandise cost to the gross profit margin in the fiscal year 2022?

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

Servicing software revenues include integrated mortgage servicing solutions, which help automate all areas of the servicing process, from loan boarding to final payment or default. Our servicing solutions support first lien mortgages, home equity loans and lines of credit on a single platform to manage all servicing processes.

As of the end of 2023, Hilton's development pipeline included projects in 118 countries and territories.

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

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.

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

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

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


Question: What was the total amount of non-cash impairment charges related to long-lived assets for U.S. theaters in 2023?

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

The Company recorded an income tax expense of $91,389 for the year ended December 31, 2022, with an effective tax rate of approximately 9%.

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

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

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

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

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

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.