2016 Summary of Financial Statement Adjustments Financial statement adjustments that depart materially from those contained in the published financial statements of the relevant rated entity or obligor are disclosed below: Historical and projected EBITDA is adjusted to add back non cash stock based compensation expense as reported in financials. Fitch views operating leases as debt like obligations so capitalizes gross rent expense using a multiple of 8x.
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with gains in 13 of the 19 commodities it tracks. Labor Department reported that employers added 204
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