OPERATIONS HELD-FOR-SALE Sample Clauses

OPERATIONS HELD-FOR-SALE. During the third quarter of 1999, the Company's Board of Directors adopted a strategic plan, one element of which is for the Company to market for sale its WM International operations, its domestic non-core operations and selected NASW operations. Note 2 to these condensed consolidated financial statements discusses operations that have been divested in the year 2000 or announced to be divested in the near future. Note 12 to these condensed consolidated financial statements discusses recent developments with respect to certain operations which have been included within assets held-for-sale as of September 30, 2000. As discussed in Note 2 to the financial statements in the Company's Form 10-K for the year ended December 31, 1999, the Company has recorded charges to write down certain of these assets. Additionally, the Company recorded a charge for the three months ended September 30, 2000 to asset impairments and unusual items of approximately $182.2 million related primarily to the third quarter 2000 inclusion within assets held-for-sale of the Company's geosynthetic lining manufacturing and installation service operation and the Company's waste-fuel powered independent power plants. The Company has recorded a charge for the nine months ended September 30, 2000 to asset impairments and unusual items of approximately $284.6 million related primarily to the Company's WM International operations, its geosynthetic lining manufacturing and installation service operation and waste-fuel powered independent power plants. These operations had carrying values in excess of management's best estimates of anticipated proceeds. As of September 30, 2000, the primary components remaining within assets held-for-sale consisted of the Company's WM International operations in Hong Kong, Indonesia, Brazil, Argentina, Israel and Sweden; the Company's waste-fuel powered 23 WASTE MANAGEMENT, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) independent power facilities; the Company's geosynthetic lining manufacturing and installation service operation; and certain other non-core and NASW operations. For operations classified as held-for-sale at the beginning of each quarter, the Company suspends depreciation and amortization on the underlying assets. Had the Company not classified any operations as held-for-sale, depreciation expense would have been greater by $10.3 million and $93.3 million for the three and nine months ended September 30, 2000, respective...
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OPERATIONS HELD-FOR-SALE. During the third quarter of 1999, the Company's Board of Directors adopted a strategic plan, one element of which is for the Company to market for sale its WM International operations, significant portions of its domestic non-core businesses and selected NASW operations. As discussed in Note 2 to the financial statements in the Company's Form 10-K for the year ended December 31, 1999, the Company has recorded charges to write down certain of these assets. Additionally, the Company recorded a charge in the first quarter of 2000 to asset impairments and unusual items of approximately $24.8 million related primarily to the Company's WM International operations, which are held for sale, that have a carrying value greater than management's best current estimate of anticipated proceeds. In determining fair value, the Company considered, among other things, the range of preliminary purchase prices being discussed with potential 20 WASTE MANAGEMENT, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) buyers. These businesses' results of operations are included in revenues and expenses in the accompanying statement of operations. Operational information included in the statements of operations regarding the businesses classified as operations held for sale at March 31, 2000, is as follows (in thousands): NORTH AMERICAN SOLID WASTE WM INTERNATIONAL NON-SOLID WASTE TOTAL -------------- ----------------- --------- -------- THREE MONTHS ENDED: March 31, 2000 Operating revenues...................... $123,259 $401,484 $54,218 $578,961 Earnings before interest and taxes(a)... 11,372 70,055 12,466 93,893 THREE MONTHS ENDED: March 31, 1999 Operating revenues...................... $113,102 $371,091 $68,312 $552,505 Earnings before interest and taxes(a)... 2,688 34,991 10,985 48,664 ---------------
Sample 1
OPERATIONS HELD-FOR-SALE. In the fourth quarter of 1995, the Company approved a plan to sell or otherwise discontinue the process engineering, construction, specialty contracting and similar lines of business of Rust International, Inc. ("Rust"), a subsidiary owned 60% by WM Holdings and 40% by WTI. At December 31, 1996, management also classified as discontinued and planned to sell Rust's domestic environmental and infrastructure engineering and consulting business and Chemical Waste Management, Inc.'s ("CWM") high organic waste fuel blending services business. Also, WTI classified certain of its water process systems and equipment manufacturing businesses (sold in 1996) and its water and wastewater facility operations and privatization business (sold in 1997) as discontinued businesses in 1996. Operating revenues from the discontinued business were $84,800,000 in 1997, and $734,500,000 in 1996. Results of their operations in 1997 were included in the reserve for loss on disposition provided previously, and such results were not material. In 1997, management reclassified the CWM business back into continuing operations, and classified certain of its sites as operations held for sale. The Rust dispositions were not completed within one year, and accordingly, this business was reclassified back into continuing operations held for sale, at December 31, 1997, though management continued its efforts to market these businesses. Because these business were reclassified to continuing operations, the remaining provision for loss on disposal ($95,000,000 after tax -- $87,000,000 related to Rust and $8,000,000 related to CWM) was reversed in discontinued operations and an impairment loss for Rust of $122,200,000 was recorded in continuing operations in the fourth quarter of 1997. Prior year financial statements were restated. The majority of these assets were sold during the second and third quarters of 1998, respectively, for amounts approximately equal to their recorded net book values. Information 101 WASTE MANAGEMENT, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) regarding the businesses presented in the consolidated statement of operations as net assets of continuing operations held for sale is as follows (in thousands): YEARS ENDED DECEMBER 31, ------------------------------ 1998 -------- 1997 -------- 1996 -------- Operating revenues $238,108 $350,400 $361,500 Income (loss) before tax after minority interest................................... (151) (9,930) 315
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Related to OPERATIONS HELD-FOR-SALE

  • Contract for Services The parties intend this Agreement to be a contract for the provision of services and not a contract for the sale of goods. To the fullest extent permitted by law, the provisions of the Uniform Commercial Code (UCC), the Uniform Computer Information Transaction Act (UCITA), the United Nations Convention on Contracts for the International Sale of Goods, and any substantially similar legislation as may be enacted, shall not apply to this Agreement.

  • Additional Requirements for Sleeping Rooms The Contractor shall provide departing Attendees a secured area for storing belongings.

  • Requests For Samples By Authorized Users Requests for samples by Authorized Users require the consent of the Contractor. Where Contractor refuses to furnish a sample, Authorized User may, in its sole discretion, make a determination on the performance capability of the Product or on the issue in question. BID EVALUATION

  • Assets Not Purchased by Assuming Institution The Assuming Institution does not purchase, acquire or assume, or (except as otherwise expressly provided in this Agreement) obtain an option to purchase, acquire or assume under this Agreement:

  • PUBLIC RECORDS COMPLIANCE (APPLICABLE FOR SERVICE CONTRACTS Orange County is a public agency subject to Chapter 119, Florida Statutes. The Contractor agrees to comply with Florida’s Public Records Law. Specifically, the Contractor shall:

  • FURNITURE CLASSIFICATIONS Furniture classifications include but not limited to: Cafeteria, Dormitory, Library Shelving and Library Related, Lounge, Systems (Modular), School (Classroom), Freestanding, Seating, Filing Systems and Equipment, and Technology Support.

  • Safe Operations Notwithstanding any other provision of this Agreement, an NTO may take, or cause to be taken, such action with respect to the operation of its facilities as it deems necessary to maintain Safe Operations. To ensure Safe Operations, the local operating rules of the ITO(s) shall govern the connection and disconnection of generation with NTO transmission facilities. Safe Operations include the application and enforcement of rules, procedures and protocols that are intended to ensure the safety of personnel operating or performing work or tests on transmission facilities.

  • Assets Purchased by Assuming Institution With the exception of certain assets expressly excluded in Sections 3.5 and 3.6, the Assuming Institution hereby purchases from the Receiver, and the Receiver hereby sells, assigns, transfers, conveys, and delivers to the Assuming Institution, all right, title, and interest of the Receiver in and to all of the assets (real, personal and mixed, wherever located and however acquired) including all subsidiaries, joint ventures, partnerships, and any and all other business combinations or arrangements, whether active, inactive, dissolved or terminated, of the Failed Bank whether or not reflected on the books of the Failed Bank as of Bank Closing. Assets are purchased hereunder by the Assuming Institution subject to all liabilities for indebtedness collateralized by Liens affecting such Assets to the extent provided in Section 2.1.

  • Procurement for Goods and Works 3. Except as ADB may otherwise agree, Goods and Works shall only be procured on the basis of the methods of procurement set forth below: International Competitive Bidding National Competitive Bidding Shopping The methods of procurement are subject to, among other things, the detailed arrangements and threshold values set forth in the Procurement Plan. The Borrower may only modify the methods of procurement or threshold values with the prior agreement of ADB, and modifications must be set out in updates to the Procurement Plan.

  • Alcoholic Beverages Costs of alcoholic beverages are unallowable.

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