Estimates

"Last Changed" represents the most recent date that an analyst revised or reiterated an estimate. This date will also change if a company restates actual EPS due to a corporate action.

Leases – Gross represents properties leased/rented to outside customers. It also includes tenant improvements.

LIFO Reserve represents the difference between inventories computed under the FIFO (First In, First Out) and LIFO (Last In, First Out) methods.

Limited Partner represents capital provided by limited partners. This is the equivalent of Common Stock in stockholding companies.

Litigation represents unusual litigation expenses. Litigation expenses may include fees for lawyers, or settlement charges. However, Litigation does not include standard business-related lawyers’ fees.

This item represents unusual litigation expenses, and may include fees for lawyers, or settlement charges. However, this item does not include standard business-related lawyers’ fees.

Litigation Expense represents unusual litigation expenses that are not part of the company’s day-to-day operating activities, such as litigation settlements, lawsuits, etc. Litigation Expense may include fees for lawyers, as well as settlement charges.

Load Factor, Total - % represents the Company level Load Factor percentage that is reported by the company. It represents the percentage of aircraft seating capacity that is actually utilized, and is obtained using revenue passenger miles/kilometers, divided by available seat miles/kilometers.

Loan Loss Allowances represents allowances accumulated for possible defaults on loans outstanding. The default rates are established according to regulations in the country and the Bank’s experience with each group of customers. The default risks are typified by country risk, industry risk, and risks on individual customers.

Loan Loss Provision represents noncash expenses for possible defaults of loans by customers. Such non-cash expenses are reversed to make adjustments to net income to isolate cash flow from operating activities under the Indirect Method.

Loan Loss Provision represents provisions established for possible defaults by customers on loans from a financial institution. Reserves for possible loan losses are established on loans outstanding on the basis of country risks, industry risks and specific risks of groups of borrowers. When a borrower is in default, the allowance is reduced and replenished in the following fiscal period, which is accounted for in Loan Loss Provision.

Loans represents changes in loans to customers for banks.

Loans Held for Sale represents loans held for sale, rather than held for management. Banks may provide loans to customers, but sell some of them to other financial institutions, instead of holding them until their maturities. Such loans held for sale may temporarily stay in Loans Held for Sale.

Loans Origination – Investing represents cash inflow from increases in loans to customers, which may be directly originated from customers, or acquired from other loan originators.

Loans Origination – Operating represents an increase in loans to customers when such loans to customers are treated as operating assets by a bank.

Loans, Gains/Losses represents a reversal of gains/losses on the sale of loans by a bank. Loans to customers are usually considered operating assets for commercial banks.

When a company reports its tax provision segmented by geographic location of tax jurisdiction, any tax provision attributable to its local tax jurisdictions will be classified as Local Tax. Provisions attributable to national or federal income tax are not included in this value.

When a company reports its income tax provision segmented between current and deferred taxes, any items attributable to its local tax jurisdictions, but not classified as either current or deferred, will be reported as Local Tax – Other. Provisions attributable to national or federal income tax are not included in this value.

Identifies institutional investor ownership by country according to the most recent, publicly available data available to Thomson Reuters

%O/S (percent of outstanding shares held) – Is calculated by dividing the shares held by the most recently reported total shares outstanding.

Identifies institutional investor ownership by global region according to the most recent, publicly available data available to Thomson Reuters.

%O/S (percent of outstanding shares held) – Is calculated by dividing the shares held by the most recently reported total shares outstanding.

Long-Term Debt represents debt with maturities beyond one year. Long-Term Debt may consist of long-term bank borrowings, bonds, convertible bonds, etc.

Long Term Debt Issued represents cash inflow on the issuance of long-term debt instruments in a company. Long-term debt may include long-term bank borrowings, corporate bonds, convertible bonds, etc.

Standardized Long Term Debt Maturing in Years 2 and 3 represents the summation of Standardized Long Term Debt Maturing in Year 2 and Standardized Long Term Debt Maturing in Year 3.

Standardized Long Term Debt Maturing in Years 4 and 5 represents the summation of Standardized Long Term Debt Maturing in Year 4 and Standardized Long Term Debt Maturing in Year 5.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

Standardized Long Term Debt Maturing in Year 6 and Beyond represents Total Long Term Debt, Supplemental less Standardized Long Term Debt Maturing within 1 Year, Standardized Long Term Debt Maturing in Year 2, Standardized Long Term Debt Maturing in Year 3, Standardized Long Term Debt Maturing in Year 4 and Standardized Long Term Debt Maturing in Year 5

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

These values represent the amount of long term debt maturing within a specified year following the balance sheet period end date. These values are non-cumulative. If a company presents their long term debt maturities in ranges instead of individual years, each range is divided out and the resulting amounts are distributed evenly across the years in the range.

Long Term Debt Reduction represents cash outflow on the repayment of long-term debt in a company.

Long Term Debt, Net represents the sum of Long Term Debt Issued and Long Term Debt Reduction.

Long-Term Investments represents the sum of LT Investments – Affiliate Companies and LT Investments – Other.

Loss (Gain) on Sale of Assets – Operating reflects the excess of sale proceeds over the net book value (purchase price less accumulated depreciation) of a fixed asset. The disposal of assets not only includes the sale, but also exchange or abandonment.

Loss Adjustment represents reversal of non-cash expenses of estimated losses on unreported cases and cases that have been reported, but are still being processed.

Loss Ratio, Total - % represents the Company level Loss Ratio, as reported by the company. It shows the loss expenses incurred by aninsurance company, in relation to the total premiums earned.

Losses, Benefits, and Adjustments represents losses paid to policyholders, loss adjustment expenses, and benefits to life policyholders as expenses to insurance policies. Loss adjustment expenses represent expenses for the investigation of designated events that happened, estimation of losses, and any other activity after the event until the payment of claims.

Losses, Benefits, and Adjustments, Total represents the sum of:
Losses, Benefits, and Adjustments
Underwriting & Commissions.

This is the day's lowest price of a security that has changed hands between a buyer and a seller.

This ratio is the Total Long Term Debt for the most recent fiscal year divided by Total Shareholder Equity for the same period.

This ratio is the Total Long Term Debt for the most recent interim period divided by Total Shareholder Equity for the same period.

LT Investment – Affiliate Companies represents long-term investment in securities (loans, bonds, and equity) of affiliate companies, where the affiliation may be defined as associated companies, joint ventures, and unconsolidated subsidiaries.

Long-Term Investments – Other represents long-term investments with maturities of one year or longer. It also includes special funds such as pension funds.

Machinery/Equipment – Gross represents the acquisition cost of machinery and other equipment (including delivery equipment, office equipment, machinery, furniture and fixtures, furnishings, factory equipment, tools, etc.) in a company, before being reduced by accumulated depreciation.

Managed Care represents the Managed Care industry for Balance Sheet Operating Metrics information collected by Reuters. The Managed Care Industry consists of companies engaged in providing managed healthcare, mainly operating in the United States.

Managed Care represents the managed care industry for Operating Metrics information collected by Reuters. This includes all the operating indicators for the managed care industry, reported by the company. The Managed Care Industry consists of companies engaged in providing managed healthcare, mainly operating in the United States.

This is the company's market capitalization, which is the number of the company's shares outstanding multiplied by the share price. If a company has 10 million shares and the company's shares are selling for $10, the market cap is $100 million.

This value is calculated by multiplying the current Price by the current number of Shares Outstanding.

The market value of all the stock in a company. This equals the price per share, multiplied by the number of shares outstanding.

First Call's Mean future 5-year growth rate equals the average projected growth rate for corporate earnings per share, as projected by the analyst community and submitted to First Call.

Analyst recommendations as published on First Call are rated on a 1 to 5 scale. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. The Mean Recommendation is the average rating on a stock by the analyst community.

Medical Costs per Member per Month, Total represents the Company level Medical Costs incurred per Member per Month, as reported by the company. It is obtained using total medical costs incurred by the company, divided by the total number of member months.

Medical Expense Ratio, Total - % represents the Company level Medical Expense Ratio, as reported by the company. It shows the percentage of the premiums that are used to pay for the delivery of health care. It is obtained using the total medical expenses incurred by the company, divided by the total revenues earned.

Membership under Capitation - % represents the Company level Membership under Capitation Percentage, as reported by the company. It shows the percentage of membership under the capitation agreement.

Merchandise Margins, Total - % represents the Company level Merchandise Margins, as reported by the company. It shows the percentage profit margin on product sales achieved during the period.

Minimum Pension Liability Adjustment represents gains or losses realized from maintaining the minimum amount of liability necessary for pension liability on the balance sheet to equal the unfunded accumulated benefit obligation. Minimum Pension Liability Adjustment is defined as a part of comprehensive income by SFAS 130.

Minimum Pension Liability Adjustment represents gains or losses realized from maintaining the minimum amount of additional liability necessary for pension liability on the balance sheet to equal the unfunded accumulated benefit obligation.

Minimum Pension Liability Adjustment represents the minimum amount of additional liability necessary for pension liability on the balance sheet to equal the unfunded accumulated benefit obligation according to SFAS 130.

Minimum Pension Liability Gain represents gains realized from maintaining the minimum amount of additional liability necessary for pension liability on the balance sheet to equal the un-funded accumulated benefit obligation. Such adjustment is defined as a part of comprehensive income, according to SFAS 130.

Minimum Pension Liability Loss represents losses realized from maintaining the minimum amount of additional liability necessary for pension liability on the balance sheet to equal the unfunded accumulated benefit obligation. Such adjustment is defined as a part of comprehensive income, according to SFAS 130.

Mining, Average Price represents the Average Price Operating Metrics information collected by Reuters for the Mining Industry. This includes the average selling price information for a range of metals, reported by the mining company. The Mining Industry consists of companies engaged in the extraction and primary processing of Precious Metals & Minerals.

Mining, Other represents the other Balance Sheet Operating Metrics information collected by Reuters for the Mining Industry. This includes the reserves information for a range of metals, reported by the mining company. The Mining Industry consists of companies engaged in the extraction and primary processing of Precious Metals & Minerals.

Mining, Other represents the Operating Metrics information (other than average price and production volume information) collected by Reuters for the Mining Industry. This includes the average production per mine and stripping ratio information, reported by the mining company. The Mining Industry consists of companies engaged in the extraction and primary processing of Precious Metals & Minerals.

Mining, Production represents the Production Volume Operating Metrics information collected by Reuters for the Mining Industry. This includes the total production volume information for a range of metals, reported by the mining company. The Mining Industry consists of companiesengaged in the extraction and primary processing of Precious Metals & Minerals.

Mining, Reserves represents the Balance Sheet (Reserves) Operating Metrics information collected by Reuters for the Mining Industry. This includes the reserves information for a range of metals, reported by the mining company. The Mining Industry consists of companies engaged in the extraction and primary processing of Precious Metals & Minerals.

Minority Interest represents accumulated interest for minority shareholders in subsidiaries that are less than 100 percent owned by the reporting parent company. The net worth of a subsidiary is assumed to be proportionally owned by parent company and other minority shareholders according to their respective ownership percentage.

Minority Interest represents the share of earnings/losses in subsidiaries that belongs to shareholders other than the parent company when the parent company owns less than 100%, but more than 50%, of a subsidiary. Since the subsidiary’s financials are consolidated with the company, this value will be a negative number to represent the amount the company does not own.

Minority Interest, Supplemental represents the share of earnings/losses in subsidiaries that belongs to shareholders other than the parent company when the parent company owns less than 100%, but more than 50%, of a subsidiary.

Miscellaneous Earnings Adjustment represents an adjustment applied to net earnings that is used to obtain a company’s calculated EPS.

Momentum institutions invest in stocks whose price, earnings, or earnings estimates are advancing at a faster rate than the market or other stocks in the same sector. Momentum investors generally look for stocks experiencing upward earnings revisions or producing positive earnings surprises. Most of the investors in this category have relatively high portfolio turnover rates due to a short-term (often quarterly) focus, and therefore will liquidate positions at the slightest hint of a disappointment or deceleration in earnings. Thomson Reuters categorizes these portfolios based on its knowledge of their historical investment behavior.

Natural Gas Production (Cubic Meters) represents the total production of natural gas by the company, in cubic meters.

Natural Gas Reserves, Possible (Cubic Meters) represents the total estimated quantities, in cubic meters, of natural gas reserves that have a chance of being developed under favorable circumstances.

Natural Gas Reserves, Probable (Cubic Meters) represents the total estimated quantities, in cubic meters, of gas reserves which is categorized as “reasonably probable" of being produced using current or likely technology at current prices, with current commercial terms and government consent.

Natural Gas Reserves, Proved (Cubic Meters) represents the total estimated quantities of natural gas, in cubic meters, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic andoperating conditions.

Natural Gas, Average Production (Cubic Meters/Day) represents the average production of gas liquids on daily basis by the company, in cubic meters.

Natural Gas, Average Sales Price per Cubic Meter represents the average sales price of Natural Gas per Cubic Meter.

Natural Resources – Gross represents the acquisition cost of natural resources that are subject to depletion for their consumption. It may include timberlands, oil reservoirs, as well as mineral extraction rights on properties.

Net Asset Value (NAV) represents the net “market value’ of all of a company’s assets. This includes but is not limited to its properties, after subtracting all its liabilities and obligations. This construct is used for valuation purposes of a REIT. Net Asset Value (NAV) [MRGN] is generally obtained using Net Assets, less Liabilities and Preferred Stock.

Net Assets Recognized on Balance Sheet represents:
Prepaid Benefits – Domestic
Prepaid Benefits – Foreign
Prepaid Benefits – Post-Retirement
Intangible Assets – Domestic
Intangible Assets- Foreign
Intangible Assets – Post-Retirement
Accrued Liabilities – Domestic
Accrued Liabilities- Foreign
Accrued Liabilities – Post-Retirement
Other Assets, Net – Domestic
Other Assets, Net- Foreign
Other Assets, Net – Post-Retirement
Net Domestic Pension Assets
Net Foreign Pension Assets
Net Post-Retirement Assets.

Net Cash – Beginning Balance represents the beginning balance of cash and cash equivalents, as defined by a company. This is the ending balance of cash and cash equivalents of the previous fiscal period, with exceptions for certain cases when there are changes in the scope of businesses consolidated. The only situation in which this would vary is the restatement of the cash flow for the previous fiscal period.

Net Cash – Ending Balance represents the sum of Net Change in Cash and Net Cash – Beginning Balance. This value will be the ending balance of cash and cash equivalents of the current fiscal period, with exceptions in certain cases where there are changes in the scope of businesses consolidated.

Net Change in Cash represents the sum of:
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Foreign Exchange Effects.

Net Debt represents the sum of:
Total Debt
Minority Interest
Redeemable Preferred Stock
Preferred Stock – Non Redeemable, Net;
Less
Cash
Cash & Equivalents
Short Term Investments.

Sum of assets and liabilities for Domestic Pension plans.

Sum of assets and liabilities for Foreign Pension plans.

Net Income represents the sum of Net Income Before Extraordinary Items and Total Extraordinary Items.

Net Income After Stock-Based Compensation Expense represents Net Income Before Extraordinary Items reduced by Stock-Based Compensation Expense.

Net Income Before Extraordinary Items represents net income before being adjusted by extraordinary items, such as:
Accounting Change
Discontinued Operations
Extraordinary Item
Taxes on Extraordinary Items

Income Before Tax represents the sum of Operating Income and the following items for all companies other than banks:
Interest Income (Expense), Net Non-Operating
Gain (Loss) on Sale of Assets
Allowance for Funds Used During Construction – Utility only
Other, Net

For banks, Net Interest Income After Loan Loss Provision is adjusted by the following items:
Non-Interest Income, Bank
Non-Interest Expense, Bank

Net Income Before Extraordinary Items represents net income before being adjusted by extraordinary items, such as accounting changes, discontinued operations, extraordinary items, and taxes on extraordinary items.

Net Income Including Extraordinary Items represents net income after being adjusted by extraordinary items, such as accounting changes, discontinued operations, extraordinary items, and taxes on extraordinary items.

Net Income/Starting Line is the first line of a cash flow statement when a company employs the Indirect Method in the operating cash flow section.

Net Inpatient Revenues represents the total billed value for the services provided by the hospital to its inpatients.

This is the net difference between the NUMBER of officers and directors that purchased the company's stock and the NUMBER of officers and directors that sold the company's stock in the last six months.

Net Interest Income represents Interest Income, Bank, reduced by Total Interest Expense for banks. Net Interest Income indicates interest margins for financial institutions engaged in the lending and borrowing businesses. However, Net Interest Income is computed before consideration of Loan Loss Provision.