UPS to Pay $45 Million SEC Penalty Over Improper Valuation [Yahoo! Finance Canada]
TFI International Inc. Common Shares (TFII)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The company failed to follow generally accepted accounting principles when it evaluated its less-than-truckload operations in 2019 and 2020, the SEC said Friday in a statement. “Had UPS properly valued Freight, its earnings and other reported items would have been materially lower,” the agency said. UPS, which didn't admit or deny the findings, agreed to avoid future violations, the SEC said. The company said in an emailed statement that it recorded a non-cash goodwill impairment charge in 2020 relating to the investigation. “The settlement will not have a material effect on our business, financial condition, results of operation, or liquidity,” UPS said. Goodwill is a non-cash asset companies record on their balance sheets when they buy another business and have to calculate how they came up with the purchase price. US accounting rules require companies to keep the asset as a line on their balance sheets, only marking it down when there's a sign it h
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News
- UPS hit with SEC fine over its internal valuation of UPS Freight before TFI sale [Yahoo! Finance]Yahoo! Finance
- UPS Hit With $45 Million Penalty by SEC Over Improper Valuation [Yahoo! Finance]Yahoo! Finance
- TFI International (TSX:TFII) Eyes Growth with Product Innovations and AI Investments Amid Market Challenges [Yahoo! Finance]Yahoo! Finance
- TFI International Inc. (NYSE: TFII) had its price target raised by analysts at Citigroup Inc. from $158.00 to $170.00. They now have a "buy" rating on the stock.MarketBeat
- TFI International Inc. (TSE:TFII) is favoured by institutional owners who hold 73% of the company [Yahoo! Finance]Yahoo! Finance
TFII
Sec Filings
- 11/12/24 - Form SC
- 10/28/24 - Form 6-K
- 10/22/24 - Form 6-K
- TFII's page on the SEC website