Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

Monday, March 11, 2019
Big Moves in Goodwill, Intangible Value

Friday, March 8, 2019
CVS, Goodwill, and Enterprise Value

Thursday, February 28, 2019
Summary of Our Goodwill Research/ How-To

Wednesday, February 27, 2019
What Does ‘Other’ Mean? An Example

Thursday, February 21, 2019
Another Tale, Buried in the Footnotes

Wednesday, February 13, 2019
Low Latency Calcbench

Monday, February 11, 2019
Now Streaming on Hulu: Red Ink

Thursday, February 7, 2019
Early Look at 2018 Tax Decline

Wednesday, February 6, 2019
You Revised WHAT, Netflix?

Thursday, January 31, 2019
Talking About Huawei Exposure

Wednesday, January 30, 2019
Another Discrepancy in Reported Numbers

Wednesday, January 30, 2019
Finding Revised Facts: Hertz Edition

Wednesday, January 23, 2019
GE Commercial Aviation Services: Bringing Numbers to Light

Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

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Friday’s (8/1) edition of the Wall Street Journal carried an article entitled Record Cash, Record Debt   by Ted Mann and Theo Francis.  The authors worked with Calcbench in order to obtain data for their article.  Included in the dataset were Unremitted Foreign Earnings and Debt levels across the entire US filing universe. 

The objective of the authors was to identify firms with increasing overseas earnings and increasing debt levels.  The results are fairly straightforward, defer taxes on overseas earnings, borrow cheaply against the overseas earnings, invest where you can make more, and as an added kicker, take a deduction on the interest paid on the debt.  It looks like a corporate win-win.  Francis and Mann found more than 200 US firms used this technique effectively in 2013 (Francis, Mann, WSJ).

Firms and investors have been executing carry trades like this forever, but using tagged financials will help identify patterns more quickly.  This in turn moves away from anecdotal evidence into the realm of hard fact.  Anyone with the remotest of interest in economics or finance should be running to get at this information. 

Why did the authors at one of the most prestigious newspapers in the world come to Calcbench?  They couldn’t get the data anywhere else. 

The takeaway for users is that just like our friends at the WSJ used Calcbench, so can you.  Sign up today!

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