The CITT has ruled that standard pipe from the Philippines, Pakistan, Turkey and Vietnam will be subject to tariffs ranging from 46% to 66% for the next 5 years.
Under the Otter Tail Corporation Credit Agreement (as defined below), the maximum amount of debt outstanding in 2018 was $17.7 million on September 17, 2018 and the average daily balance of debt outstanding during 2018 was $5.5 million. The weighted average interest rate paid on debt outstanding under the OTC Credit Agreement during 2018 was 3.8% compared with 2.8% in 2017. Under the OTP Credit Agreement (as defined below), the maximum amount of debt outstanding in 2018 was $122.0 million on January 16, 2018 and the average daily balance of debt outstanding during 2018 was $21.6 million. The weighted average interest rate paid on debt outstanding under the OTP Credit Agreement during 2018 was 3.0% compared with 2.4% in 2017. The maximum amount of consolidated short-term debt outstanding in 2018 was $122.0 million on January 16, 2018 and the average daily balance of consolidated short-term debt outstanding during 2018 was $27.1 million. The weighted average interest rate on consolidated short-term debt outstanding on December 31, 2018 was 3.9%.
● Renewable energy: Since 2002, OTP’s customers have been able to purchase 100% of their electricity from wind generation through OTP’s Tail Winds program. OTP has access to 102.9 MW of wind powered generation under power purchase agreements and owns 138 MW of wind powered generation. Minnesota’s legislative mandate requires investor-owned utilities to serve 1.5% of their Minnesota retail electric sales with solar power by 2020. OTP has purchased sufficient SRECs to meet 100% of its 2020 obligation and approximately 70% of its 2021 obligation. OTP is exploring options for constructing a solar project to meet its continuing obligation after 2021.
The -17 electrodes have more silicon than the -16 electrodes, producing a more fluid weld puddle that works best for welding in the flat position. Vertical and overhead welding are possible, but they require more operator skill than a lime basic electrode because the slag does not freeze as quickly. These electrodes operate on DCEP or alternating current (AC).
Ternium S.A. manufactures and processes various steel products in Mexico, Argentina, Bolivia, Chile, Paraguay, Uruguay, Colombia, the United States, Central America, and internationally. The company operates in two segments, Steel and Mining. The Steel segment offers steel products, such as slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets, pre-painted sheets, steel pipes and tubular products, beams, roll formed products, and other products. The Mining segment sells iron ore concentrates and pellets. The company serves various companies and small businesses operating in construction, automotive, home appliances, capital goods, container, food, and energy industries. Ternium S.A. was founded in 1961 and is headquartered in Buenos Aires, Argentina. Ternium S.A. is a subsidiary of Techint Holdings S.Ã r.l.
Husch Blackwell announces its January Trade Law Newsletter on key issues and announcements related to International Trade and Supply Chain.
14. Income Taxes The total income tax expense differs from the amount computed by applying the federal income tax rate (21% in 2018, and 35% in 2017 and 2016) to net income before total income tax expense for the following reasons: The Company’s deferred tax assets and liabilities were composed of the following on December 31: 113 Table of Contents Federal PTCs are recognized as wind energy is generated based on a per kwh rate prescribed in applicable federal statutes. OTP’s kwh generation from its wind turbines eligible for PTCs decreased 53.0% in 2018 compared with 2017 due to the PTC eligibility period ending for one of OTP’s wind farms. OTP’s kwh generation from its wind turbines eligible for PTCs increased 4.4% in 2017 compared with 2016. North Dakota wind energy credits are based on dollars invested in qualifying facilities and are being recognized on a straight-line basis over 25 years. Schedule of expiration of tax credits and tax net operating losses available as of December 31, 2018: The following table summarizes the activity related to the Company’s unrecognized tax benefits: The balance of unrecognized tax benefits as of December 31, 2018 would reduce the Company’s effective tax rate if recognized. The total amount of unrecognized tax benefits as of December 31, 2018 is not expected to change significantly within the next 12 months. The Company classifies interest and penalties on tax uncertainties as components of the provision for income taxes in the Company’s consolidated statement of income. There was no amount accrued for interest on tax uncertainties as of December 31, 2018. The Company and its subsidiaries file a consolidated U.S. federal income tax return and various state income tax returns. As of December 31, 2018, with limited exceptions, the Company is no longer subject to examinations by taxing authorities for tax years prior to 2015 for federal and North Dakota income taxes and prior to 2014 for Minnesota state income taxes. TCJA In December 2017 the TCJA was enacted. The TCJA includes a number of changes to existing U.S. tax laws that impact the Company, most notably a reduction of the federal corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017. The Company measures deferred tax assets and liabilities using enacted tax rates that will apply in the years in which the temporary differences are expected to be recovered or paid. Accordingly, the Company’s deferred tax assets and liabilities were remeasured to reflect the reduction in the U.S. corporate income tax rate from 35% to 21% in 2017. The revaluation for OTP required the creation of a regulatory liability and an offsetting reduction in deferred tax liability. This regulatory liability will generally be amortized over the remaining life of the related assets. On a consolidated financial statement basis, the revaluation resulted in a one-time, non-cash, income tax expense of approximately $1.8 million in 2017. The impacts of the TCJA adjustments to deferred taxes and regulatory liabilities are provided in the reconciliation below: 114 Table of Contents The Company recognized the income tax effects of the TCJA in its 2017 consolidated financial statements in accordance with Staff Accounting Bulletin No. 118, which provided SEC staff guidance for the application of ASC Topic 740, Income Taxes, and allowed up to one year to complete the required analyses and accounting for the TCJA. At December 31, 2017 the Company was able to make reasonable estimates of the impact of the TCJA for the reduction in the federal corporate tax rate, changes to bonus depreciation and consequences on the Company’s regulatory liabilities. The accounting for the income tax effects of the enactment of the TCJA was complete as of September 30, 2018. The Company did not make any material adjustments in 2018 to the amounts recorded at December 31, 2017.
Shares of TX opened at $30.56 on Friday. Ternium SA has a twelve month low of $25.52 and a twelve month high of $42.43. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 3.98, a price-to-earnings-growth ratio of 0.81 and a beta of 0.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 2.01.
NYSE TX opened at $31.34 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.01 and a quick ratio of 0.86. Ternium has a 1-year low of $25.52 and a 1-year high of $42.43. The company has a market capitalization of $6.19 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.
BISMARCK – The North Dakota Women’s Network is hosting WE Rise: Women Empowered, an event where North Dakotans can learn about the legislative process, March 3-4 in Bismarck.
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Australia’s best-known radio stars will gather in Melbourne on Saturday night for the announcement of…
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