Geovanny Vicente – Página 93

Toyota Financial Services Offers Payment Relief to Customers Affected by Texas Storms

PLANO, Texas, Feb. 22, 2021 /PRNewswire/ — Toyota Financial Services (TFS) announced it is offering payment relief options to its customers affected by the winter storms that struck Texas earlier this month. This broad outreach includes any Toyota Financial Services (TFS) or…

Toyota Financial Services cares about the safety and well-being of its customers, and wants to help those impacted by this natural disaster. Impacted lease and finance customers residing in the affected areas may be eligible to take advantage of several payment relief options, some of which include:

extensions and lease deferred payments;
redirecting billing statements; and
arranging phone or online payments.

Customers who would like to discuss their account options are encouraged to contact TFS or LFS.

Toyota Financial Services customers may call 800-874-8822 or contact TFS via email using the Mail Center function after logging into ToyotaFinancial.com.

Lexus Financial Services customers may call 800-874-7050 or contact LFS via email using the Mail Center function after logging into LexusFinancial.com.

We extend our heartfelt thoughts to those affected by these storms.

About Toyota Financial Services 

Toyota Financial Services (TFS) is the finance and insurance brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). The company services Lexus dealers and customers using the Lexus Financial Services brand. As of March 31, 2020, TFS employed approximately 3,300 team members nationwide, and had assets totaling nearly $126 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation. We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our posts on Twitter at www.twitter.com/toyotafinancial.

Media Contact: Derrick Brown (469) 486-9065

View original content to download multimedia:http://www.prnewswire.com/news-releases/toyota-financial-services-offers-payment-relief-to-customers-affected-by-texas-storms-301232814.html

SOURCE Toyota Financial Services

Code Chain New Continent Limited Announces the Closing of $25 Million Registered Direct Offering

NEW YORK, Feb. 22, 2021 /PRNewswire/ — Code Chain New Continent Limited (the «Company» or «Code Chain») (NASDAQ: CCNC), a leading eco-technology company, today announced that it closed a previously announced registered direct offering with certain institutional investors, raising approximately $25 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses. The offering consists of the sale of 4,166,666 shares of the Company’s common stock, registered warrants to purchase up to an aggregate of 1,639,362 shares of commons stock, and unregistered warrants to purchase up to an aggregate of 2,527,304 shares of common stock, at combined per share purchase price of $6.00.

The net proceeds from this offering will be used for working capital and general business purposes.

Univest Securities, LLC acted as sole placement agent for this offering. Ortoli Rosenstadt LLP served as counsel to the Company, and Sullivan & Worcester LLP served as counsel to the placement agent in connection with the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-232316) previously filed and declared effective by the U.S. Securities and Exchange Commission (SEC) on July 8^th, 2019. The offering of the Shares and the Registered Warrants will be made only by means of a prospectus supplement describing the terms of the proposed offering, will be filed with the SEC and can be obtained on the SEC’s website at http://www.sec.gov when available.

For further details of this transaction please see the Current Report on Form 8-K filed with the SEC on February 18, 2021 which may be viewed at www.sec.gov.

About Code Chain New Continent Limited

Founded in 2009, Code Chain New Continent Limited engages in the research, development, and sale of solid waste recycling systems for the mining and industrial sectors, the wholesale and sale of fuel materials, harbor cargo handling services and production and sales of coating materials in the PRC. It provides end-users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. Upon completion of Sichuan Wuge Network Games Co., Ltd. («Wuge»), the Company has also diversified its business. Wuge was established in 2019 and is still in this early developing stage. Wuge produced electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document all kinds of consumer behaviors that involve code-scanning.

Safe Harbor Statements

This press release contains «forward-looking statements» within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as «may,» «could,» «would,» «plan,» «anticipate,» «believe,» «estimate,» «predict,» «potential,» «expects,» «intends», «future» and «guidance» or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management’s current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company’s control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company’s actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading «Risk Factors» in the Company’s public filings with the Securities and Exchange Commission, including the Company’s annual report on 10-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable law.

View original content:http://www.prnewswire.com/news-releases/code-chain-new-continent-limited-announces-the-closing-of-25-million-registered-direct-offering-301232676.html

SOURCE Code Chain New Continent Limited

Demand for Carded Nonwovens to Grow 2.7% Annually Through 2024 Driven by Pandemic and Push for Sustainability

CLEVELAND, Feb. 22, 2021 /PRNewswire/ — Two of the biggest market drivers today—the global health crisis and an accelerated push for greater sustainability of materials—are driving demand for carded nonwoven materials. A new analysis by The Freedonia Group projects that US demand for these materials—used in medical wipes and masks—will grow 2.7% per year through 2024 to $2.7 billion. Advances are being driven by both the medical use case, as well as filtration markets and geotextiles in the construction market.

In the near term, the COVID-19 pandemic will limit gains in industrial segments, as the pandemic forced many «nonessential» manufacturers to temporarily halt operations.

Nonwovens producers continue to improve their product offerings through such means as the creation of new composites, the use of new fiber blends, and the adoption of advanced machinery to create nonwovens with higher value characteristics.

Consumers increasingly look for products that are produced sustainably and that are made of natural fibers, particularly when nonwovens are employed in the production of consumer products used in close contact with skin. Carded nonwovens in particular stand to benefit from this trend because the web bonding processes used to produce these products allows use of natural fibers.

Looking for More?

Carded Nonwovens is part of the Freedonia Group’s new series on the US nonwovens market. Historical data for 2009, 2014, and 2019 and forecasts to 2024 and 2029 are provided for nonwovens production (total) and demand (by market) in current dollars (which are not adjusted to account for inflation). Total demand is also shown in square meters and metric tons.

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/demand-for-carded-nonwovens-to-grow-2-7-annually-through-2024-driven-by-pandemic-and-push-for-sustainability-301232787.html

SOURCE The Freedonia Group

Fragrance Creators Association President & CEO Farah K. Ahmed’s Statement in Support of H.R. 5, the Equality Act

WASHINGTON, Feb. 22, 2021 /PRNewswire/ — Fragrance Creators Association issued a statement today from President & CEO Farah K. Ahmed signaling the association’s support for the reintroduction of H.R. 5, The Equality Act, intended to empower all people—regardless of sexual orientation or gender identity—to pursue their dreams. Passed by the House of Representatives in 2019 with bipartisan support, the bill would amend several provisions of the Civil Rights Act of 1964 to provide affirmative, statutory non-discrimination protections for LGBTQ Americans with regard to employment, housing, credit, education, public spaces and services, federally funded programs, and jury service.

«Fragrance Creators stands with the LGBTQ community as we continue our direct leadership and decisive action at the industry level in support of The Equality Act. We are leveraging our unique advocacy infrastructure to build awareness and solidify support among the association community and other stakeholders. We support the Biden Administration’s commitment to its passage during its first 100 days and call on Congress to pass the bill swiftly.

«Across the country, lesbian, gay, bisexual, transgender, and queer Americans still lack basic legal protections, leaving them vulnerable to harassment and discrimination. This is plainly unacceptable. The American democracy is built upon the dream of equality of opportunity, a dream that makes our nation exceptional. All people have a right to pursue a life of dignity, including employment, without fear of intolerance.

«The beauty of the fragrance industry lives in the creative artistry of our people—every scent creation is a celebration of authentic human expression that connects us with our emotions and memories and brings us closer to one another. It is the essence of what drives Fragrance Creators’ unwavering support of The Equality Act.»

Fragrance Creators Association is the principal fragrance trade association. The organization represents the majority of fragrance manufacturing in North America. The association also represents interests along the fragrance value chain. Fragrance Creators’ membership is diverse, including companies that create, manufacture, and use fragrances and scents for home care, personal care, home design, fine fragrance, and industrial and institutional products as well as those that supply fragrance ingredients, including natural extracts and other raw materials that are used in perfumery and fragrance mixtures. Fragrance Creators produces The Fragrance Conservatory, the comprehensive digital resource for high-quality information about fragrance. Learn more about Fragrance Creators at fragrancecreators.org—for people, perfume, and the planet.

Contact:
Lia Dangelico
ldangelico@fragrancecreators.org
+1 571 317 1504

Related Images

image1.jpeg

Related Links

Fragrance Creators Association

View original content to download multimedia:http://www.prnewswire.com/news-releases/fragrance-creators-association-president–ceo-farah-k-ahmeds-statement-in-support-of-hr-5-the-equality-act-301232695.html

SOURCE Fragrance Creators Association

Republic Services, Inc. Reports Fourth Quarter and Full-Year Results; Provides 2021 Full-Year Guidance

PHOENIX, Feb. 22, 2021 /PRNewswire/ — Republic Services, Inc. (NYSE: RSG) today reported net income of $235.5 million, or $0.74 per diluted share, for the three months ended December 31, 2020, versus $289.3 million, or $0.90 per diluted share, for the comparable 2019 period. Excluding certain benefits and expenses, on an adjusted basis, net income for the three months ended December 31, 2020 was $320.4 million, or $1.00 per diluted share, versus $282.7 million, or $0.88 per diluted share, for the comparable 2019 period.

For the year ended December 31, 2020, net income was $967.2 million, or $3.02 per diluted share, versus $1,073.3 million, or $3.33 per diluted share, for 2019. On an adjusted basis, net income for the year ended December 31, 2020 was $1,137.8 million, or $3.56 per diluted share, versus $1,062.9 million, or $3.30 per diluted share, for 2019.

«Last year proved the resiliency of our business model and power of our portfolio. In the face of adversity, the Republic Services team remained focused on our priorities — putting our people first, keeping our facilities running smoothly and taking care of our customers,» said Donald W. Slager, chief executive officer. «Republic again proved its strength, resolve and ability to persevere through a challenging environment. As a result, we outperformed our adjusted earnings and free cash flow targets and created sustainable value for our shareholders.»

Fourth Quarter and Full-Year Highlights:

Fourth quarter EPS was $0.74 per share, and adjusted EPS, a non-GAAP measure, was $1.00 per share, an increase of 14 percent over the prior year.
Full-year EPS was $3.02 per share, and adjusted EPS was $3.56 per share, an increase of 8 percent over the prior year. Adjusted EPS exceeded the Company’s full-year guidance.
Full-year cash provided by operating activities was $2.47 billion and adjusted free cash flow, a non-GAAP measure, was $1.24 billion. Adjusted free cash flow exceeded the Company’s full-year guidance.
Republic invested $613 million in acquisitions, or $580 million net of divestitures.
Full-year cash returned to shareholders through dividends and share repurchases was $621 million and total shareholder return was 10 percent.
Full-year core price increased revenue by 4.8 percent. Core price consisted of 5.6 percent in the open market and 3.4 percent in the restricted portion of the business.
Full-year revenue growth from average yield was 2.6 percent.
Full-year adjusted EBITDA, a non-GAAP measure, was $2.99 billion and adjusted EBITDA margin was 29.4 percent, an increase of 130 basis points over the prior year.
The Company’s average recycled commodity price per ton sold during the fourth quarter was $110. This represents an increase of $44 per ton versus the prior year.
Republic continued to convert CPI-based contracts to more favorable pricing mechanisms for the annual price adjustment. The Company now has approximately $874 million in annual revenue, or 35 percent of its legacy $2.5 billion CPI-based book of business, tied to the water-sewer-trash index or a fixed-rate increase of 3 percent or greater.

2021 Financial Guidance

Republic’s financial guidance is based on current economic conditions and does not assume any significant changes in the overall economy in 2021. Please refer to the Information Regarding Forward-Looking Statements section of this document.

Full-year 2021 financial guidance is as follows:

Adjusted Diluted Earnings per Share: The Company expects adjusted diluted earnings per share to be in the range of $3.65 to $3.73. Detail relating to the computation of adjusted diluted earnings per share is contained in the Reconciliation of 2021 Financial Guidance section of this document.
Adjusted Free Cash Flow: Republic expects adjusted free cash flow to be in the range of $1,300 million to $1,375 million. Detail relating to the computation of adjusted free cash flow is contained in the Reconciliation of 2021 Financial Guidance section of this document.
Revenue: Republic expects an increase in average yield of approximately 2.5% and volume growth to be in the range of 1.5% to 2.0%.
Adjusted EBITDA Margin: Republic expects adjusted EBITDA margin of approximately 29.5%.
Acquisitions & Investments: Republic expects to invest approximately $600 million in acquisitions and $125 million in solar energy investments that qualify for tax credits.

«We expect to achieve the highest levels of adjusted earnings and free cash flow in the Company’s history in 2021,» added Mr. Slager. «We feel confident about our ability to deliver these strong results because of the firm foundation in place, the broad capabilities that have been developed and the positive momentum in the business heading into the new year.»

Company Declares Quarterly Dividend

Republic previously announced that its Board of Directors declared a regular quarterly dividend of $0.425 per share for stockholders of record on April 1, 2021. The dividend will be paid on April 15, 2021.

Presentation of Certain Non-GAAP Measures

Adjusted diluted earnings per share, adjusted net income, adjusted EBITDA, adjusted EBITDA margin and adjusted free cash flow are described in the Reconciliation of Certain Non-GAAP Measures section of this document. The adjusted diluted earnings per share and adjusted free cash flow related to the 2021 financial guidance are described in the Reconciliation of 2021 Financial Guidance section of this press release.

About Republic Services
Republic Services, Inc. is a leader in the U.S. environmental services industry. Through its subsidiaries, the Company provides superior customer experience while fostering a sustainable Blue Planet^® for future generations to enjoy a cleaner, safer and healthier world. For more information, visit RepublicServices.com, or follow us at Facebook.com/RepublicServices, @RepublicService on Twitter and @republic_services on Instagram.

SUPPLEMENTAL UNAUDITED FINANCIAL INFORMATION
AND OPERATING DATA

REPUBLIC SERVICES, INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except per share amounts)

	December 31,		December 31,
	2020		2019
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	38.2	$	47.1
Accounts receivable, less allowance for doubtful accounts and other of $34.7 and $34.0, respectively	1,091.3		1,125.9
Prepaid expenses and other current assets	392.3		433.0
Total current assets	1,521.8		1,606.0
Restricted cash and marketable securities	149.1		179.4
Property and equipment, net	8,726.2		8,383.5
Goodwill	12,046.4		11,633.4
Other intangible assets, net	173.1		133.9
Other assets	817.4		747.6
Total assets	$	23,434.0	$	22,683.8
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	779.0	$	777.9
Notes payable and current maturities of long-term debt	168.1		929.9
Deferred revenue	345.6		336.0
Accrued landfill and environmental costs, current portion	114.5		132.6
Accrued interest	54.6		74.0
Other accrued liabilities	820.2		814.2
Total current liabilities	2,282.0		3,064.6
Long-term debt, net of current maturities	8,766.1		7,758.6
Accrued landfill and environmental costs, net of current portion	1,694.7		1,703.2
Deferred income taxes and other long-term tax liabilities, net	1,238.8		1,180.6
Insurance reserves, net of current portion	281.8		276.5
Other long-term liabilities	681.8		579.4
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.01 per share; 50 shares authorized; none issued	—		—
Common stock, par value $0.01 per share; 750 shares authorized; 318.8 and 353.3 issued including shares held in treasury, respectively	3.2		3.5
Additional paid-in capital	2,741.4		4,994.8
Retained earnings	5,751.8		5,317.3
Treasury stock, at cost; — and 34.5 shares, respectively	(0.1)		(2,199.6)
Accumulated other comprehensive (loss) income, net of tax	(12.4)		2.2
Total Republic Services, Inc. stockholders’ equity	8,483.9		8,118.2
Non-controlling interests in consolidated subsidiary	4.9		2.7
Total stockholders’ equity	8,488.8		8,120.9
Total liabilities and stockholders’ equity	$	23,434.0	$	22,683.8

REPUBLIC SERVICES, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share data)

	Three Months Ended December 31,				Years Ended December 31,
	2020		2019		2020		2019
Revenue	$	2,573.3	$	2,576.7	$	10,153.6	$	10,299.4
Expenses:
Cost of operations	1,547.2		1,544.0		6,100.5		6,298.4
Depreciation, amortization and depletion	267.5		257.4		1,075.9		1,040.5
Accretion	20.5		20.4		82.9		81.9
Selling, general and administrative	257.7		285.7		1,053.0		1,091.9
Withdrawal costs – multiemployer pension funds	(1.4)		—		34.5		—
Loss (gain) on business divestitures and impairments, net	44.9		8.8		77.7		(14.7)
Restructuring charges	4.2		1.2		20.0		14.2
Operating income	432.7		459.2		1,709.1		1,787.2
Interest expense	(78.1)		(95.1)		(355.6)		(392.0)
Loss from unconsolidated equity method investments	(87.4)		(85.0)		(118.2)		(112.2)
Loss on extinguishment of debt	(67.4)		—		(101.9)		—
Interest income	1.1		1.0		5.2		6.4
Other income, net	0.4		4.9		4.1		6.4
Income before income taxes	201.3		285.0		1,142.7		1,295.8
Provision (benefit) for income taxes	(35.0)		(5.0)		173.1		222.0
Net income	236.3		290.0		969.6		1,073.8
Net income attributable to non-controlling interests in consolidated subsidiary	(0.8)		(0.7)		(2.4)		(0.5)
Net income attributable to Republic Services, Inc.	$	235.5	$	289.3	$	967.2	$	1,073.3
Basic earnings per share attributable to Republic Services, Inc. stockholders:
Basic earnings per share	$	0.74	$	0.91	$	3.03	$	3.34
Weighted average common shares outstanding	319.3		319.6		319.3		321.1
Diluted earnings per share attributable to Republic Services, Inc. stockholders:
Diluted earnings per share	$	0.74	$	0.90	$	3.02	$	3.33
Weighted average common and common equivalent shares outstanding	319.9		320.5		319.8		322.0
Cash dividends per common share	$	0.425	$	0.405	$	1.660	$	1.560

REPUBLIC SERVICES, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
	Years Ended December 31,
	2020		2019
Cash provided by operating activities:
Net income	$	969.6	$	1,073.8
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization, depletion and accretion	1,158.8		1,122.4
Non-cash interest expense	61.7		48.8
Stock-based compensation	37.3		39.5
Deferred tax provision	60.8		166.1
Provision for doubtful accounts, net of adjustments	27.8		34.0
Loss on extinguishment of debt	101.9		—
Loss (gain) on disposition of assets and asset impairments, net	75.5		(13.8)
Environmental adjustments	5.1		(11.9)
Loss from unconsolidated equity method investments	118.2		112.2
Other non-cash items	(3.8)		(5.6)
Change in assets and liabilities, net of effects from business acquisitions and divestitures:
Accounts receivable	13.8		(38.3)
Prepaid expenses and other assets	6.5		(109.7)
Accounts payable	(46.7)		6.4
Capping, closure and post-closure expenditures	(58.6)		(78.2)
Remediation expenditures	(63.5)		(49.1)
Other liabilities	18.6		55.5
Payments for retirement of certain hedging relationships	(11.4)		—
Cash provided by operating activities	2,471.6		2,352.1
Cash used in investing activities:
Purchases of property and equipment	(1,194.6)		(1,207.1)
Proceeds from sales of property and equipment	30.1		21.7
Cash used in acquisitions and investments, net of cash and restricted cash acquired	(769.5)		(575.1)
Cash received from business divestitures	32.9		42.8
Purchases of restricted marketable securities	(32.9)		(14.7)
Sales of restricted marketable securities	11.2		13.5
Other	—		(0.1)
Cash used in investing activities	(1,922.8)		(1,719.0)
Cash used in financing activities:
Proceeds from notes payable and long-term debt, net of fees	2,625.5		4,746.5
Proceeds from issuance of senior notes, net of discount and fees	2,716.1		891.1
Payments of notes payable and long-term debt	(5,221.4)		(5,327.9)
Premiums paid on extinguishment of debt	(99.1)		—
Issuances of common stock	3.9		9.3
Purchases of common stock for treasury	(98.8)		(399.4)
Cash dividends paid	(522.5)		(491.2)
Distributions paid to non-controlling interests in consolidated subsidiary	(0.2)		(0.2)
Contingent consideration payments	(15.5)		(17.2)
Cash used in financing activities	(612.0)		(589.0)
(Decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(63.2)		44.1
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	177.4		133.3
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	114.2	$	177.4

You should read the following information in conjunction with our audited consolidated financial statements and notes thereto appearing in our Annual Report on Form 10-K as of and for the year ended December 31, 2020 (when filed). All amounts below are in millions and as a percentage of our revenue, except per share data.

REVENUE

The following table reflects our total revenue by line of business for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,								Years Ended December 31,
	2020				2019				2020				2019
Collection:
Residential	$	585.7	22.8	%	$	570.1	22.1	%	$	2,309.0	22.7	%	$	2,271.9	22.1	%
Small-container	785.0		30.5		800.9		31.1		3,106.8		30.6		3,170.0		30.8
Large-container	542.2		21.1		561.5		21.8		2,148.9		21.2		2,249.6		21.8
Other	13.5		0.5		11.9		0.5		51.5		0.5		46.1		0.4
Total collection	1,926.4		74.9		1,944.4		75.5		7,616.2		75.0		7,737.6		75.1
Transfer	344.7				331.1				1,349.4				1,318.7
Less: intercompany	(189.0)				(189.5)				(745.9)				(748.1)
Transfer, net	155.7		6.1		141.6		5.5		603.5		5.9		570.6		5.5
Landfill	578.5				577.2				2,298.1				2,324.2
Less: intercompany	(254.6)				(251.2)				(1,018.5)				(1,024.1)
Landfill, net	323.9		12.6		326.0		12.6		1,279.6		12.6		1,300.1		12.6
Environmental solutions	26.7		1.0		48.2		1.9		127.7		1.3		191.7		1.9
Other:
Recycling processing and commodity sales	80.8		3.1		60.0		2.3		297.1		2.9		273.3		2.7
Other non-core	59.8		2.3		56.5		2.2		229.5		2.3		226.1		2.2
Total other	140.6		5.4		116.5		4.5		526.6		5.2		499.4		4.9
Total revenue	$	2,573.3	100.0	%	$	2,576.7	100.0	%	$	10,153.6	100.0	%	$	10,299.4	100.0	%

The following table reflects changes in components of our revenue, as a percentage of total revenue, for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,				Years Ended December 31,
	2020		2019		2020		2019
Average yield	2.5	%	2.6	%	2.6	%	2.8	%
Fuel recovery fees	(0.8)		(0.4)		(0.7)		—
Total price	1.7		2.2		1.9		2.8
Volume	(1.8)		(0.2)		(3.1)		(0.4)
Recycling processing and commodity sales	0.8		(0.7)		0.3		(0.3)
Environmental solutions	(0.9)		(0.5)		(0.9)		(0.3)
Total internal growth	(0.2)		0.8		(1.8)		1.8
Acquisitions / divestitures, net	0.1		1.0		0.4		0.8
Total	(0.1)	%	1.8	%	(1.4)	%	2.6	%

Core price	4.6	%	4.8	%	4.8	%	4.7	%

Average yield is defined as revenue growth from the change in average price per unit of service, expressed as a percentage. Core price is defined as price increases to our customers and fees, excluding fuel recovery, net of price decreases to retain customers. We also measure changes in average yield and core price as a percentage of related-business revenue, defined as total revenue excluding recycled commodities and fuel recovery fees, to determine the effectiveness of our pricing strategies. Average yield as a percentage of related-business revenue was 2.6% and 2.8% for the three months and year ended December 31, 2020, respectively, and 2.8% and 2.9% for the same periods in 2019. Core price as a percentage of related-business revenue was 4.8% and 5.0% for the three months and year ended December 31, 2020, respectively, and 5.0% for the same periods in 2019.

The following table reflects changes in average yield and volume, as a percentage of total revenue by line of business, for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,								Years Ended December 31,
	2020				2019				2020				2019
	Yield		Volume		Yield		Volume		Yield		Volume		Yield		Volume
Collection:
Residential	3.3	%	(0.7)	%	2.5	%	(2.2)	%	2.8	%	(1.3)	%	2.6	%	(1.9)	%
Small-container	3.2	%	(3.5)	%	4.1	%	(0.1)	%	3.7	%	(4.3)	%	3.9	%	(0.6)	%
Large-container	1.3	%	(3.4)	%	1.9	%	0.8	%	2.0	%	(5.5)	%	2.8	%	0.2	%
Landfill:
Municipal solid waste	3.2	%	1.7	%	3.4	%	0.4	%	2.9	%	0.2	%	3.3	%	3.2	%
Construction and demolition waste	6.4	%	1.0	%	2.7	%	15.5	%	5.8	%	3.7	%	2.3	%	10.4	%
Special waste	—	%	(9.8)	%	—	%	(0.2)	%	—	%	(10.7)	%	—	%	(3.9)	%

COST OF OPERATIONS

The following table summarizes the major components of our cost of operations for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,								Years Ended December 31,
	2020				2019				2020				2019
Labor and related benefits	$	536.3	20.8	%	$	554.7	21.5	%	$	2,153.4	21.2	%	$	2,202.4	21.4	%
Transfer and disposal costs	202.2		7.9		206.9		8.0		796.9		7.9		841.7		8.2
Maintenance and repairs	243.6		9.5		248.5		9.7		969.6		9.6		1,006.2		9.8
Transportation and subcontract costs	173.0		6.7		170.2		6.6		674.1		6.6		674.9		6.5
Fuel	67.3		2.6		64.8		2.5		271.7		2.7		347.9		3.4
Disposal fees and taxes	79.5		3.1		82.8		3.2		313.5		3.1		325.7		3.2
Landfill operating costs	68.1		2.6		60.2		2.3		258.2		2.5		244.7		2.4
Risk management	51.7		2.0		60.2		2.3		213.9		2.1		230.7		2.2
Other	125.5		4.9		112.1		4.4		460.0		4.5		440.6		4.2
Subtotal	1,547.2		60.1		1,560.4		60.5		6,111.3		60.2		6,314.8		61.3
Fire-damage related costs ⁽¹⁾	—		—		7.6		0.3		—		—		7.6		0.1
Bridgeton insurance recovery	—		—		(24.0)		(0.9)		(10.8)		(0.1)		(24.0)		(0.2)
Total cost of operations	$	1,547.2	60.1	%	$	1,544.0	59.9	%	$	6,100.5	60.1	%	$	6,298.4	61.2	%

(1) During the three months and year ended December 31, 2019, we incurred an additional $0.1 million of fire-damage related costs, which are reflected in other selling, general, and administrative expense.

These cost categories may change from time to time and may not be comparable to similarly titled categories used by other companies. As such, you should take care when comparing our cost of operations by cost component to that of other companies and of ours for prior periods.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

The following table provides the components of our selling, general and administrative expenses for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,								Years Ended December 31,
	2020				2019				2020				2019
Salaries	$	184.7	7.2	%	$	199.3	7.8	%	$	740.5	7.3	%	$	751.9	7.3	%
Provision for doubtful accounts	5.8		0.2		10.6		0.4		27.8		0.3		34.0		0.3
Other	67.2		2.6		75.8		2.9		284.7		2.8		306.0		3.0
Total selling, general and administrative expenses	$	257.7	10.0	%	$	285.7	11.1	%	$	1,053.0	10.4	%	$	1,091.9	10.6	%

These cost categories may change from time to time and may not be comparable to similarly titled categories used by other companies. As such, you should take care when comparing our selling, general and administrative expenses by cost component to those of other companies and of ours for prior periods.

RECONCILIATION OF CERTAIN NON-GAAP MEASURES

EBITDA

The following table calculates EBITDA, which is not a measure determined in accordance with U.S. generally accepted accounting principles (U.S. GAAP), for the three months and years ended December 31, 2020 and 2019:

	Three Months Ended December 31,				Years Ended December 31,
	2020		2019		2020		2019
Net income attributable to Republic Services, Inc.	$	235.5	$	289.3	$	967.2	$	1,073.3
Net income attributable to noncontrolling interests	0.8		0.7		2.4		0.5
Provision (benefit) for income taxes	(35.0)		(5.0)		173.1		222.0
Other income, net	(0.4)		(4.9)		(4.1)		(6.4)
Interest income	(1.1)		(1.0)		(5.2)		(6.4)
Interest expense	78.1		95.1		355.6		392.0
Depreciation, amortization and depletion	267.5		257.4		1,075.9		1,040.5
Accretion	20.5		20.4		82.9		81.9
EBITDA	$	565.9	$	652.0	$	2,647.8	$	2,797.4

We believe that presenting EBITDA is useful to investors because it provides important information concerning our operating performance exclusive of certain non-cash and other costs. EBITDA demonstrates our ability to execute our financial strategy, which includes reinvesting in existing capital assets to ensure a high level of customer service, investing in capital assets to facilitate growth in our customer base and services provided, maintaining our investment grade credit ratings and minimizing debt, paying cash dividends, repurchasing our common stock, and maintaining and improving our market position through business optimization. This measure has limitations. Although depreciation, depletion, amortization and accretion are considered operating costs in accordance with U.S. GAAP, they represent the allocation of non-cash costs generally associated with long-lived assets acquired or constructed in prior years. Our definition of EBITDA may not be comparable to similarly titled measures presented by other companies.

Adjusted Earnings

Reported diluted earnings per share was $0.74 and $3.02 for the three months and year ended December 31, 2020, respectively, as compared to $0.90 and $3.33 for the same periods in 2019. During the three months and years ended December 31, 2020 and 2019, we recorded a number of charges and other expenses and gains that impacted our EBITDA, pre-tax income, net income attributable to Republic Services, Inc. (net income – Republic) and diluted earnings per share. For comparative purposes, certain prior year amounts have been reclassified to conform to current year presentation. The tables below set forth such measures on an adjusted basis to exclude such charges, other expenses and gains:

	Three Months Ended December 31, 2020								Three Months Ended December 31, 2019
					Net		Diluted						Net		Diluted
			Pre-tax		Income –		Earnings				Pre-tax		Income –		Earnings
	EBITDA		Income		Republic		per Share		EBITDA		Income		Republic		per Share
As reported	$	565.9	$	201.3	$	235.5	$	0.74	$	652.0	$	285.0	$	289.3	$	0.90
Loss from unconsolidated equity method investments	87.4		—		—		—		85.0		—		—		—
Loss on extinguishment of debt and other related costs	67.4		64.4		47.5		0.15		—		—		—		—
Restructuring charges ⁽¹⁾	4.2		4.2		3.1		0.01		1.2		1.2		0.9		—
Loss on business divestitures and impairments, net	44.9		44.9		35.4		0.11		8.8		8.8		5.1		0.02
Withdrawal costs – multiemployer pension funds	(1.4)		(1.4)		(1.1)		(0.01)		—		—		—		—
Fire-damage related costs	—		—		—		—		7.7		7.7		5.7		0.02
Bridgeton insurance recovery	—		—		—		—		(24.0)		(24.0)		(18.3)		(0.06)
Total adjustments	202.5		112.1		84.9		0.26		78.7		(6.3)		(6.6)		(0.02)
As adjusted	$	768.4	$	313.4	$	320.4	$	1.00	$	730.7	$	278.7	$	282.7	$	0.88

(1) The aggregate impact to adjusted diluted earnings per share totals to less than $0.01 for the three months ended December 31, 2019.

	Year Ended December 31, 2020								Year Ended December 31, 2019
					Net		Diluted						Net		Diluted
			Pre-tax		Income –		Earnings				Pre-tax		Income –		Earnings
	EBITDA		Income		Republic		per Share		EBITDA		Income		Republic		per Share
As reported	$	2,647.8	$	1,142.7	$	967.2	$	3.02	$	2,797.4	$	1,295.8	$	1,073.3	$	3.33
Loss from unconsolidated equity method investments	118.2		—		—		—		112.2		—		—		—
Loss on extinguishment of debt and other related costs	101.9		99.1		73.0		0.23		—		—		—		—
Restructuring charges	20.0		20.0		14.8		0.05		14.2		14.2		10.4		0.04
Loss (gain) on business divestitures and impairments, net	77.7		77.7		65.5		0.21		(14.7)		(14.7)		(8.7)		(0.03)
Withdrawal costs – multiemployer pension funds	34.5		34.5		25.5		0.08		—		—		—		—
Incremental contract startup costs – large municipal contract⁽¹⁾	—		—		—		—		0.7		0.7		0.5		—
Fire-damage related costs	—		—		—		—		7.7		7.7		5.7		0.02
Bridgeton insurance recovery	(10.8)		(10.8)		(8.2)		(0.03)		(24.0)		(24.0)		(18.3)		(0.06)
Total adjustments	341.5		220.5		170.6		0.54		96.1		(16.1)		(10.4)		(0.03)
As adjusted	$	2,989.3	$	1,363.2	$	1,137.8	$	3.56	$	2,893.5	$	1,279.7	$	1,062.9	$	3.30

(1) The aggregate impact to adjusted diluted earnings per share totals to less than $0.01 for the year ended December 31, 2019.

We believe that presenting adjusted EBITDA, adjusted pre-tax income, adjusted net income – Republic, and adjusted diluted earnings per share, which are not measures determined in accordance with U.S. GAAP, provide an understanding of operational activities before the financial impact of certain items. We use these measures, and believe investors will find them helpful, in understanding the ongoing performance of our operations separate from items that have a disproportionate impact on our results for a particular period. We have incurred comparable charges, costs and recoveries in prior periods, and similar types of adjustments can reasonably be expected to be recorded in future periods. Our definition of adjusted EBITDA, adjusted pre-tax income, adjusted net income – Republic, and adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies. Further information on each of these adjustments is included below.

Loss on extinguishment of debt and other related costs. During 2020, we paid cash premiums related to the early extinguishment of certain senior notes and incurred corresponding non-cash charges related to debt issuance costs, discounts and hedging strategies.

Restructuring charges. In 2019, we incurred costs related to the redesign of certain back-office software systems, which continued into 2020. In addition, in July 2020, we eliminated certain back-office support positions in response to a decline in the underlying demand for services resulting from the COVID-19 pandemic.

Loss (gain) on business divestitures and impairments, net. During 2020, we recorded a net loss on business divestitures and impairments of $77.7 million, which was due to business divestitures and asset impairments in certain markets, including $42.6 million resulting from management’s decision to exit certain product offerings and geographic basins in our upstream environmental solutions business. During 2019, we recorded a net gain on business divestitures and impairments of $(14.7) million.

Withdrawal costs – multiemployer pension funds. During 2020, we recorded charges to earnings for withdrawal events at multiemployer pension funds to which we contribute. As we obtain updated information regarding multiemployer pension funds, the factors used in deriving our estimated withdrawal liabilities will be subject to change, which may adversely impact our reserves for withdrawal costs.

Incremental contract startup costs – large municipal contract. Although our business regularly incurs startup costs under municipal contracts, we specifically identify in the tables above the startup costs incurred in 2019 with respect to an individual municipal contract (and do not adjust for other startup costs under other contracts). We do this because of the magnitude of the costs involved with this particular municipal contract and the unusual nature for the time periods in which they were incurred.

Fire-damage related costs. In 2019, certain of our owned and operated facilities were impacted by separate fire-related events. Although our business may incur fire-related damage to our leased or owned property, plant and equipment from time to time, we specifically identify in the table above certain of these costs incurred in 2019 due to their magnitude.

Bridgeton insurance recovery. During 2020 and 2019, we recognized an insurance recovery related to our closed Bridgeton Landfill in Missouri as a reduction of remediation expenses in our cost of operations.

Adjusted Free Cash Flow

The following table calculates our adjusted free cash flow, which is not a measure determined in accordance with U.S. GAAP, for the years ended December 31, 2020 and 2019:

	Years Ended December 31,
	2020		2019
Cash provided by operating activities	$	2,471.6	$	2,352.1
Property and equipment received	(1,240.6)		(1,215.8)
Proceeds from sales of property and equipment	30.1		21.7
Cash paid related to withdrawal costs – multiemployer pension funds, net of tax	25.4		—
Restructuring payments, net of tax	11.5		7.8
Divestiture related tax (benefits) payments	(9.7)		7.8
Bridgeton insurance recovery, net of tax	(26.4)		—
Cash tax benefit for debt extinguishment and other related costs	(26.0)		—
Adjusted free cash flow	$	1,235.9	$	1,173.6

We believe that presenting adjusted free cash flow provides useful information regarding our recurring cash provided by operating activities after certain expenditures or recoveries. It also demonstrates our ability to execute our financial strategy and is a key metric we use to determine compensation. The presentation of adjusted free cash flow has material limitations. Adjusted free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed, such as debt service requirements and dividend payments. Our definition of adjusted free cash flow may not be comparable to similarly titled measures presented by other companies.

Purchases of property and equipment as reflected on our consolidated statements of cash flows represent amounts paid during the period for such expenditures. A reconciliation of property and equipment expenditures reflected on our consolidated statements of cash flows to property and equipment received during the period follows for the years ended December 31, 2020 and 2019:

	Years Ended December 31,
	2020		2019
Purchases of property and equipment per the unaudited consolidated statements of cash flows	$	1,194.6	$	1,207.1
Adjustments for property and equipment received during the prior period but paid for in the following period, net	46.0		8.7
Property and equipment received during the period	$	1,240.6	$	1,215.8

The adjustments noted above do not affect our net change in cash and cash equivalents as reflected in our consolidated statements of cash flows.

ACCOUNTS RECEIVABLE

As of December 31, 2020 and 2019, accounts receivable were $1,091.3 million and $1,125.9 million, net of allowance for doubtful accounts of $34.7 million and $34.0 million, respectively, resulting in days sales outstanding of 38.6, or 26.4 days net of deferred revenue, compared to 39.8, or 27.9 days net of deferred revenue, respectively.

CASH DIVIDENDS

In October 2020, we paid a cash dividend of $135.4 million to shareholders of record as of October 1, 2020. As of December 31, 2020, we recorded a quarterly dividend payable of $135.5 million to shareholders of record at the close of business on January 4, 2021, which was paid on January 15, 2021.

SHARE REPURCHASE PROGRAM

During the three months ended December 31, 2020, there were no shares repurchased. In October 2020, our Board of Directors approved a $2.0 billion share repurchase authorization effective starting January 1, 2021 and extending through December 31, 2023.

RECONCILIATION OF 2021 FINANCIAL GUIDANCE

Adjusted Diluted Earnings per Share

The following is a summary of anticipated adjusted diluted earnings per share for the year ending December 31, 2021 compared to the actual adjusted diluted earnings per share for the year ended December 31, 2020. Adjusted diluted earnings per share is not a measure determined in accordance with U.S. GAAP:

	(Anticipated) Year Ending December 31, 2021	(Actual) Year Ended December 31, 2020
Diluted earnings per share	$ 3.61 to 3.68	$	3.02
Loss on extinguishment of debt and other related costs	—	0.23
Restructuring charges	0.04 to 0.05	0.05
Loss (gain) on business divestitures and impairments, net	—	0.21
Withdrawal costs – multiemployer pension funds	—	0.08
Bridgeton insurance recovery	—	(0.03)
Adjusted diluted earnings per share	$ 3.65 to 3.73	$	3.56

We believe that presenting adjusted diluted earnings per share provides an understanding of operational activities before the financial impact of certain items. We use this measure, and believe investors will find it helpful, in understanding the ongoing performance of our operations separate from items that have a disproportionate impact on our results for a particular period. We have incurred comparable charges, costs and recoveries in prior periods, and similar types of adjustments can reasonably be expected to be recorded in future periods. Our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies.

Adjusted Free Cash Flow

Our anticipated adjusted free cash flow for the year ending December 31, 2021, and our actual adjusted free cash flow for the year ended December 31, 2020, which are not measures determined in accordance with U.S. GAAP, are calculated as follows:

	(Anticipated) Year Ending December 31, 2021	(Actual) Year Ended December 31, 2020
Cash provided by operating activities	$ 2,450 to 2,570	$	2,471.6
Property and equipment received	(1,175 to 1,225)	(1,240.6)
Proceeds from sales of property and equipment	15	30.1
Cash paid related to withdrawal costs – multiemployer pension funds, net of tax	—	25.4
Restructuring payments, net of tax	10 to 15	11.5
Divestiture related tax (benefits) payments	—	(9.7)
Bridgeton insurance recovery, net of tax	—	(26.4)
Cash tax benefit for debt extinguishment and other related costs	—	(26.0)
Adjusted free cash flow	$ 1,300 to 1,375	$	1,235.9

INFORMATION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking information about us that is intended to be covered by the safe harbor for «forward-looking statements» provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as «guidance,» «expect,» «will,» «may,» «anticipate,» «plan,» «estimate,» «project,» «intend,» «should,» «can,» «likely,» «could,» «outlook» and similar expressions are intended to identify forward-looking statements. These statements include information about our plans, strategies and prospects. Forward-looking statements are not guarantees of performance. These statements are based upon the current beliefs and expectations of our management and are subject to risk and uncertainties that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that the expectations will prove to be correct. Among the factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements are the effects of the COVID-19 pandemic and actions taken in response thereto, acts of war, riots or terrorism, and the impact of these acts on economic, financial and social conditions in the United States as well as our dependence on large, long-term collection, transfer and disposal contracts. More information on factors that could cause actual results or events to differ materially from those anticipated is included from time to time in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 (when filed), particularly under Part I, Item 1A – Risk Factors. Additionally, new risk factors emerge from time to time and it is not possible for us to predict all such risk factors, or to assess the impact such risk factors might have on our business. We undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

View original content to download multimedia:http://www.prnewswire.com/news-releases/republic-services-inc-reports-fourth-quarter-and-full-year-results-provides-2021-full-year-guidance-301232722.html

SOURCE Republic Services, Inc.

AB Global High Income Fund Releases Monthly Portfolio Update

NEW YORK, Feb. 22, 2021 /PRNewswire/ — AB Global High Income Fund, Inc. (NYSE: AWF) (the «Fund») today released its monthly portfolio update as of January 31, 2021.

<td…

NEW YORK, Feb. 22, 2021 /PRNewswire/ — AB Global High Income Fund, Inc. (NYSE: AWF) (the «Fund») today released its monthly portfolio update as of January 31, 2021.


AB Global High Income Fund, Inc.


AB Global High Income Fund, Inc.


Top 10 Fixed-Income Holdings		Portfolio %
1) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/23		2.64%
2) U.S. Treasury Notes 2.25%, 2/15/27		1.86%
3) U.S. Treasury Notes 2.875%, 8/15/28		1.32%
4) Argentine Republic Government International Bond 0.125%, 7/09/30 – 7/09/41		0.82%
5) Dominican Republic International Bond 8.625%, 4/20/27		0.64%
6) Colombian TES Series B 10.00%, 7/24/24		0.56%
7) Nigeria Government International Bond 7.625%, 11/21/25 – 11/28/47		0.53%
8) Ukraine Government International Bond 7.75%, 9/01/22 – 9/01/24		0.49%
9) Oman Government International Bond 4.125%, 1/17/23		0.39%
10) First Quantum Minerals Ltd. 7.25%, 4/01/23		0.39%

Investment Type		Portfolio %
Corporates – Non-Investment Grade
Industrial
Energy		6.36%
Consumer Non-Cyclical		3.52%
Communications – Media		3.50%
Basic		2.79%
Consumer Cyclical – Automotive		2.60%
Capital Goods		2.48%
Consumer Cyclical – Other		2.45%
Services		2.21%
Technology		2.05%
Consumer Cyclical – Retailers		1.86%
Consumer Cyclical – Entertainment		1.76%
Communications – Telecommunications		1.71%
Transportation – Services		0.47%
Other Industrial		0.35%
Consumer Cyclical – Restaurants		0.17%
Transportation – Airlines		0.14%
SUBTOTAL		34.42%
Credit Default Swaps		26.36%
SUBTOTAL		26.36%
Financial Institutions
Banking		2.29%
Finance		1.02%
REITS		0.97%
Insurance		0.91%
Other Finance		0.44%
Brokerage		0.33%
SUBTOTAL		5.96%
Utility
Electric		0.54%
SUBTOTAL		0.54%
SUBTOTAL		67.28%
Emerging Markets – Sovereigns
Emerging Markets – Sovereigns		10.90%
Credit Default Swaps		0.46%
SUBTOTAL		11.36%
Corporates – Investment Grade
Financial Institutions
Banking		4.34%
Insurance		1.49%
Finance		0.46%
REITS		0.24%
Other Finance		0.02%
SUBTOTAL		6.55%
Industrial
Basic		0.84%
Consumer Cyclical – Other		0.61%
Transportation – Airlines		0.57%
Energy		0.48%
Technology		0.26%
Capital Goods		0.20%
Other Industrial		0.19%
Consumer Non-Cyclical		0.14%
Consumer Cyclical – Automotive		0.13%
Communications – Media		0.07%
Consumer Cyclical – Retailers		0.05%
Services		0.04%
SUBTOTAL		3.58%
SUBTOTAL		10.13%
Collateralized Mortgage Obligations
Risk Share Floating Rate		7.74%
Non-Agency Fixed Rate		0.59%
Non-Agency Floating Rate		0.48%
Agency Fixed Rate		0.44%
SUBTOTAL		9.25%
Interest Rate Futures		8.81%
Commercial Mortgage-Backed Securities
Credit Default Swaps		4.90%
Non-Agency Fixed Rate CMBS		1.24%
Non-Agency Floating Rate CMBS		0.09%
SUBTOTAL		6.23%
Global Governments		5.61%
Bank Loans
Industrial
Consumer Non-Cyclical		1.15%
Technology		0.91%
Services		0.58%
Consumer Cyclical – Other		0.48%
Capital Goods		0.46%
Communications – Media		0.31%
Communications – Telecommunications		0.29%
Other Industrial		0.26%
Consumer Cyclical – Retailers		0.16%
Consumer Cyclical – Restaurants		0.11%
Consumer Cyclical – Entertainment		0.08%
Consumer Cyclical – Automotive		0.08%
Basic		0.05%
Energy		0.05%
Transportation – Airlines		0.02%
SUBTOTAL		4.99%
Utility
Electric		0.17%
SUBTOTAL		0.17%
Financial Institutions
Insurance		0.12%
SUBTOTAL		0.12%
SUBTOTAL		5.28%
Emerging Markets – Corporate Bonds
Industrial
Basic		1.68%
Energy		0.79%
Consumer Cyclical – Other		0.59%
Consumer Non-Cyclical		0.43%
Communications – Telecommunications		0.26%
Capital Goods		0.24%
Communications – Media		0.08%
Transportation – Services		0.04%
SUBTOTAL		4.11%
Utility
Electric		0.38%
SUBTOTAL		0.38%
Financial Institutions
Insurance		0.07%
Banking		0.05%
Finance		0.02%
SUBTOTAL		0.14%
SUBTOTAL		4.63%
Emerging Markets – Treasuries		2.64%
Quasi-Sovereigns
Quasi-Sovereign Bonds		1.49%
SUBTOTAL		1.49%
Common Stocks		1.47%
Collateralized Loan Obligations
CLO – Floating Rate		1.26%
SUBTOTAL		1.26%
Total Return Swaps		0.98%
Asset-Backed Securities
Other ABS – Fixed Rate		0.44%
Autos – Fixed Rate		0.27%
Home Equity Loans – Fixed Rate		0.25%
Home Equity Loans – Floating Rate		0.01%
SUBTOTAL		0.97%
Investment Companies
Funds and Investment Trusts		0.50%
SUBTOTAL		0.50%
Local Governments – US Municipal Bonds		0.34%
Preferred Stocks
Financial Institutions		0.23%
Industrial		0.10%
SUBTOTAL		0.33%
Inflation-Linked Securities		0.25%
Currency Instruments
Forward Currency Exchange Contracts		0.12%
SUBTOTAL		0.12%
Warrants		0.05%
Equity Futures
Equity Index Futures		-0.12%
SUBTOTAL		-0.12%
Reverse Repurchase Agreements		-0.33%
Net Cash Equivalents
Investment Companies		3.14%
Governments – Treasuries		0.34%
Foreign Currency		-0.02%
Cash		-0.18%
SUBTOTAL		3.28%
Derivative Offsets
Futures Offsets		-8.89%
Swaps Offsets		-32.92%
SUBTOTAL		-41.81%
Total		100.00%

Country Breakdown		Portfolio %
United States		65.06%
Brazil		5.23%
United Kingdom		2.68%
Mexico		1.88%
Canada		1.79%
Egypt		1.38%
Colombia		1.10%
Luxembourg		1.06%
Dominican Republic		1.01%
Cayman Islands		0.99%
Argentina		0.86%
Switzerland		0.85%
Nigeria		0.81%
Ukraine		0.80%
Italy		0.77%
Bahrain		0.73%
France		0.73%
Russia		0.65%
Ivory Coast		0.63%
Spain		0.59%
Oman		0.59%
Zambia		0.52%
Netherlands		0.52%
Kenya		0.49%
Sweden		0.47%
Gabon		0.43%
Angola		0.42%
South Africa		0.41%
Senegal		0.40%
Finland		0.39%
Ghana		0.38%
Macau		0.36%
Germany		0.34%
El Salvador		0.31%
Costa Rica		0.29%
Jersey (Channel Islands)		0.27%
Denmark		0.26%
Ireland		0.26%
Peru		0.25%
Honduras		0.25%
Indonesia		0.25%
Hong Kong		0.23%
Ecuador		0.23%
Israel		0.22%
India		0.20%
Turkey		0.18%
Chile		0.18%
Jamaica		0.17%
Mongolia		0.16%
Bermuda		0.13%
Australia		0.13%
Japan		0.11%
Kazakhstan		0.07%
Venezuela		0.07%
Jordan		0.06%
Guatemala		0.06%
United Arab Emirates		0.06%
Iraq		0.05%
Morocco		0.05%
Kuwait		0.04%
China		0.03%
Lebanon		0.03%
Sri Lanka		0.03%
Pakistan		0.02%
Belgium		0.02%
Norway		0.01%
Total Investments		100.00%

Net Currency Exposure Breakdown		Portfolio %
United States Dollar		98.23%
Brazilian Real		0.50%
South African Rand		0.48%
Russian Rubles		0.47%
Egypt Pound		0.42%
Indonesian Rupiah		0.25%
Mexican Peso		0.24%
Great British Pound		0.05%
Canadian Dollar		0.03%
Nigerian Naira		0.02%
Argentine Peso		0.01%
Malaysian Ringgit		0.01%
Norwegian Krone		0.01%
Swedish Krona		0.01%
Taiwan New Dollar		0.01%
Swiss Franc		-0.01%
Polish Zloty		-0.01%
Colombian Peso		-0.10%
Euro		-0.62%
Total Net Assets		100.00%

Credit Rating		Portfolio %
AAA		5.15%
AA		0.86%
A		0.82%
BBB		16.61%
BB		29.78%
B		25.58%
CCC		9.83%
CC		0.27%
C		0.10%
D		0.68%
Not Rated		5.68%
Short Term Investments		3.47%
Reverse Repurchase Agreements		-0.33%
N/A		1.50%
Total		100.00%

Bonds By Maturity		Portfolio %
Less than 1 year		5.93%
1 to 5 years		61.11%
5 to 10 years		21.45%
10 to 20 years		5.81%
20 to 30 years		3.61%
More Than 30 years		0.57%
Other		1.52%
Total Net Assets		100.00%

Portfolio Statistics:
Average Coupon:		7.57%
Average Bond Price:		104.39
Percentage of Leverage(based on gross assets):
Bank Borrowing:		0.00%
Investment Operations:		41.83%
Preferred stock:		0.00%
Tender Option Bonds:		0.00%
VMTP Shares:		0.00%
Total Fund Leverage:		41.83%
Average Maturity:		5.41 Years
Effective Duration:		4.40 Years
Total Net Assets:		$1,115.03 Million
Net Asset Value:		$12.93
Number of Holdings:		1623
Portfolio Turnover:		32%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.



The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

View original content:http://www.prnewswire.com/news-releases/ab-global-high-income-fund-releases-monthly-portfolio-update-301232759.html

SOURCE AllianceBernstein Global High Income Fund, Inc.

ReneSola Power to Participate in Upcoming Virtual Investor Conferences

STAMFORD, Conn., Feb. 22, 2021 /PRNewswire/ — ReneSola Ltd («ReneSola Power» or the «Company») (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, announced today its participation in the following virtual investor conferences:

<a…

Raymond James Institutional Investors Conference on Tuesday, March 2, 2021 (presentation scheduled for 3:00 pm ET)
Credit Suisse 26^th Annual Energy Summit on Wednesday, March 3, 2021 (fireside chat scheduled for 8:10 am ET)

You may access webcasts of the Raymond James and Credit Suisse presentations either live or by replay, for at least one week following the presentation, at the Investors section of ReneSola Power’s website at https://ir.renesolapower.com.

Management will be available for one-on-one meetings with institutional investors at each of these events. Portfolio managers and analysts who wish to request a meeting should contact their institutional sales representative at each sponsoring bank.

Copies of any presentation materials will be made available on the Investors section of ReneSola Power’s website at https://ir.renesolapower.com.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

View original content to download multimedia:http://www.prnewswire.com/news-releases/renesola-power-to-participate-in-upcoming-virtual-investor-conferences-301232305.html

SOURCE ReneSola Ltd.

SMECO digitizes planning, tracking crew moves with ARCOS Crew Manager

COLUMBUS, Ohio, Feb. 22, 2021 /PRNewswire-PRWeb/ — ARCOS® LLC, the market leader for utility and critical infrastructure resource-management solutions, has implemented <a target="_blank"…

COLUMBUS, Ohio, Feb. 22, 2021 /PRNewswire-PRWeb/ — ARCOS® LLC, the market leader for utility and critical infrastructure resource-management solutions, has implemented ARCOS Crew Manager® at Southern Maryland Electric Cooperative (SMECO), so utility managers can not only see where, what and how long the co-op’s 40 service and construction crews are working but also create a digital snapshot of which crews and equipment are available minutes, hours or even weeks ahead.

«Crew Manager is an evolution from the ARCOS Callout and Scheduling Suite we installed in 2006,» said Ronnie Wise, Distribution Operations manager for SMECO. «ARCOS callouts use algorithms to call crews in the order our business processes dictate; with ARCOS, we’ve assembled 14-person crews in 24 minutes. Before that we made callouts by hand, one call at a time – it could take an hour to build a crew.»

During normal business hours, SMECO’s distribution system operators (DSOs) use Crew Manager alongside the work and outage management system to keep tabs on crews’ field work and customer appointments. Crew foremen, which SMECO calls operations supervisors, begin their shift and enter the status of crew members into Crew Manager. The software then tracks and computes hours worked, breaks and availability – on a dashboard for the DSOs.

To manage resources for a forecasted storm, SMECO’s managers access a visual display of the status, skill sets and location of crews and equipment in Crew Manager via color-coded icons. Managers drag and drop icons across the utility’s territory to create different restoration scenarios. If a scenario shows a gap because, say, a crew will have worked too many hours or there aren’t enough resources to cover a set of circuits, SMECO can reorder its plans in Crew Manager and quickly see an alternative or know precisely how many contractors to call on.

SMECO has also relied on Crew Manager during the COVID-19 pandemic to split its crews into blue and gold teams to better manage, or mitigate, a potential outbreak. The system allows DSOs to quickly see if a field assignment might cause crews from different teams to inadvertently converge at a work site, which helps to prevent crossover.

DSOs also rely on the crew management software to set up attributes (or badges) for resources. For instance, next to a truck’s serial number in Crew Manager, a DSO can link a color-coded badge reading «digger-derrick» or «single-bucket truck.» Before Crew Manager, SMECO relied on an ever-evolving number scheme to track trucks and other equipment.

Wise added, «Cooperatives that don’t have these systems will ask, ‘Why do I need to buy a software system to make calls and track crews when I have dispatchers?’

«We gave our DSOs these tools, so they can put more time into researching what crews need, or formulating a game plan for restoration,» said Wise. «In the midst of chaos, it’s made life less chaotic.»

About ARCOS LLC
ARCOS is a leader in delivering SaaS solutions for managing resources, ensuring accurate, compliant shift scheduling and automatically planning for all types of events. The ARCOS solution reports on the up-to-the-minute location and status of equipment and crews via mobile technology for utilities and other critical infrastructure like airlines, manufacturers and industrial facilities. The ARCOS resource management platform helps organizations save time and money, while improving customer satisfaction and the efficiency, safety and accuracy of operations. Learn about ARCOS resource management software at http://www.arcos-inc.com.

Media Contact

Dean Heid, ARCOS LLC, 6149757538, dheid@arcos-inc.com

SOURCE ARCOS LLC

How to Advocate for Climate Change

MISSION, Kan., Feb. 22, 2021 /PRNewswire/ — (Family Features) Climate change is an issue that impacts everyone, especially children. The impacts can be seen first-hand, as the planet warms, and human fingerprints are all over the consequences: bigger, stronger hurricanes; deadly heat waves; more intense downpours; and devastating wildfires.

<a…

In fact, 60% of Americans are concerned about climate change, according to a survey by the Potential Energy Coalition. For many moms, having a child is what made them start to care about climate change in the first place. Eighty-three percent of moms are concerned about climate change and want to do something about it.

«It’s hard to study climate change and aspects of climate change and be a mother because the data’s very real to you,» said Dr. Emily Fischer, atmospheric chemist and associate professor in the Department of Atmospheric Science at Colorado State University. «We need a massive shift in the way we produce energy within 10 years, the same time period I need to save and plan to send my daughter to college. We’re hoping moms will realize climate change impacts their children and that we have solutions, but we need to act relatively quickly.»

If you’re not sure where to begin, however, know that whether big or small, steps, such as these ideas from the climate scientists at Science Moms, can add up to create meaningful solutions.

Learn about climate change. Education is a powerful tool, so learning all you can about climate change is one of the best ways to get involved.

«Sorting through myriad information online can be daunting,» said Dr. Katharine Hayhoe, scientist and professor at Texas Tech University. «That’s why Science Moms was created. This nonpartisan group of leading climate scientists, who are also mothers, aims to break down climate change through simple, engaging content.»

Raise your voice. Leaders have the ability to truly take action on the scale needed to make lasting progress on this challenge, but they need to know that it’s a top priority of individuals. You can add your name to petitions and invite others to do the same, attend local meetings to voice your support for reducing carbon pollution and clean energy projects and meet with elected leaders to ensure they know you stand behind them. Of all the actions you can take, one of the most powerful is telling your representatives this is an issue you care about.

«By investing in a clean energy future and common-sense solutions that keep families and communities safe, government leaders have the ability to enact policies that escalate on a scale we could never achieve alone,» Hayhoe said. «They all need to know we stand behind their decisions to tackle this issue.»

Talk about it. In order to avoid some of the worst impacts of climate change, fast action is needed. The more people who know the facts about this issue, the quicker an impact can be made. Share what you learn with your neighbors and other parents to help make everyone more aware of the issue. Also remember that environmental concerns aren’t just for adults. Oftentimes, concern for the climate comes from children. Talking with your kids about the importance of good stewardship and empowering them to make a difference can affect how the next generation approaches concerns like climate change and pollution.

Make climate-conscious choices. There are nearly countless examples of smaller actions you can take to adapt your own home and life. Options to consider include switching to electric cars, buying green electricity (now available in 24 states), putting solar panels on your roof, insulating your house or adding more plant-based foods to your diet.

For more information and to get involved, visit sciencemoms.com.

Talking and Listening to Your Kids About Climate Change

Climate change can be a scary subject no matter how old your kids are, and there are some big concepts that are hard to understand. For others, they know that their future is at risk and are taking matters into their own hands by becoming activists on social media and marching in youth climate strikes.

Focus on developing a love for nature and the environment. Encourage your kids to spend time outdoors and plan activities for the family that celebrate nature, like camping and hiking. You can also introduce and inspire healthy curiosity by reading books about different aspects of the environment, like oceans, land formations and the animals that inhabit different climates.

When talking with older kids, try to avoid scientific jargon and complicated explanations. Answer questions to the best of your ability and work together to find answers to the things you don’t know. Correct misinformation they may be hearing from others and be sure to include facts along with your own perspective as you discuss climate change.

It’s common for kids of all ages to be anxious about the impact of climate change. You can help channel that energy into productive action by getting involved in local organizations that are focused on improving the environment.

Climate Change Myths and Facts

There are many misconceptions about climate change. It’s a complex issue and a better understanding comes when you can sort the myths from the facts.

Myth: Climate change isn’t confirmed science.

Fact: More than 99% of climate scientists agree on the basic facts about climate change: it’s real, it’s human-caused, it’s harming people now and it’s solvable.

Myth: Climate change is a natural phenomenon.

Fact: The climate has changed naturally in the past, but right now, the world is warming up to 100 times faster than it has previously, according to research published in «Scientific American.» Billions of tons of burning coal, oil and natural gas have released carbon pollution into the air that traps the sun’s heat, making the planet hotter while simultaneously melting ice and raising sea levels.

Myth: Climate change is in the distant future.

Fact: It’s happening right now. In the West, hot, dry conditions are fueling massive fires with smoke that blocks out the sun and pollutes the air. In the Southwest, historic droughts threaten the food supply. In the South, warmer oceans are fueling stronger, deadlier hurricanes.

Myth: It might get bad, but America can handle it.

Fact: If left unchecked, the heat trapped by the thickening pollution blanket directly threatens human health and may make virtually every natural disaster more deadly and destructive. These disasters are increasingly happening at the same time, destroying more homes and businesses, and there is only so much emergency relief available.

Myth: There is nothing we can do about it.

Fact: It’s not too late to prevent the worst-case scenarios. That requires reducing pollution and moving from fossil fuels to clean, renewable energy sources, and relying on existing technology to build a clean economy. Governments across the world can work together to tackle climate change and invest in a safer future for children, but they need to know that this is a top priority for families.

Michael French
mfrench@familyfeatures.com
1-888-824-3337
editors.familyfeatures.com

About Family Features Editorial Syndicate
A leading source for high-quality food, lifestyle and home and garden content, Family Features provides readers with topically and seasonally relevant tips, takeaways, information, recipes, videos, infographics and more. Find additional articles and information at Culinary.net and eLivingToday.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/how-to-advocate-for-climate-change-301232693.html

SOURCE Family Features Editorial Syndicate

NJ Patient Notification Law Introduced by Congress to Help Prevent Opioid Addiction Nationally

WASHINGTON, Feb. 22, 2021 /PRNewswire/ — U.S. Representative David Trone (D-Md.), along with Reps. Guy Reschenthaler (R-Pa.), Teresa Leger Fernandez (D-N.M.), and David McKinley (R-W.V.), has introduced the bipartisan Opioid Patients’ Right to Know Act to help prevent opioid addiction across the country that is based on the success of the <a target="_blank"…

The New Jersey law, authored and passed in New Jersey in 2017 and since replicated in 18 states, requires prescribers to notify patients or their parents and guardians about the addictive nature of opioids, as well as non-opioid alternatives available, prior to prescribing an opioid.

«Every American has the right to be warned about the highly addictive qualities of opioids — and made aware of effective non-opioid pain relief alternatives — especially right before an opioid is prescribed,» said Elaine Pozycki, the Chair of the Partnership for a Drug-Free New Jersey (PDFNJ) and Founder of Prevent Opioid Abuse, a national organization working to educate patients and parents about the risks of opioid-based pain relievers and the availability of non-opioid alternatives. «The Opioid Patients’ Right to Know Act provides a proven prevention measure, and I urge Congress to move speedily to adopt it.»

The Opioid Patients’ Right to Know Act would create a grant program to incentivize states to require prescribers to discuss the addictive qualities of the drugs with patients and inform them of alternative treatment options before prescribing them for acute pain.

The New Jersey Patient Notification Act has had a profound impact on the state’s fight against the opioid epidemic, according to a study of the law commissioned by PDFNJ and conducted by Dr. Andrew Kolodny, Medical Director of Opioid Policy Research at Brandeis University’s Heller School for Social Policy and Management.

The study’s promising results found that prior to the enactment of the law only 18 percent of the participants warned patients about the risk of opioid addiction when prescribing opioids. Following the law’s passage, 95 percent routinely warned patients about the risk of addiction.

«These findings show that very few opioid prescribers were warning patients about the risk of addiction before New Jersey required them to do so, and since the law was enacted, the results speak for themselves,» Kolodny said. «It is much easier to prevent opioid use disorder in the first place than it is to treat it. One of the best ways to do this is by making sure prescribers, patients and parents understand how highly addictive opioids are before a first prescription is ever written or filled. This legislation will save lives.»

New Jersey State Senator Joseph Vitale (D-Middlesex), prime sponsor of the New Jersey law, is encouraged by the introduction of the Opioid Patients’ Right to Know Act.

«I am proud that what we have done in New Jersey to prevent opioid dependency and addiction can serve as a model for the country,» he said. «We must continue to support and improve access to prevention, treatment, education and recovery efforts for patients, parents, and families from the very first point of contact, oftentimes with a physician, so we can reverse the rapid trend of opioid-related addiction and deaths. We have a shared responsibility to take action.»

«Opioid addiction is on the rise, made even worse by the COVID-19 pandemic, and we need to take steps to prevent it from happening in the first place,» said Trone, the bill’s sponsor and a member of the Commission to Combat Synthetic Opioid Trafficking. «This bill will help ensure that patients have the knowledge to make informed decisions about what treatment option is right for them.»

National organizations supporting the Opioid Patients’ Right to Know Act include: Prevent Opioid Abuse (POA), Collaborative for Effective Prescription Opioid Policies (CEPOP), Mothers Against Prescription Drug Abuse (MAPDA), Partnership to End Addiction, Shatterproof, Addiction Policy Forum, FED UP!, Physicians for Responsible Opioid Prescribing (PROP), and Voices for Non-Opioid Choices.

To read bill text, click here.

To read a bill summary, click here.

View original content:http://www.prnewswire.com/news-releases/nj-patient-notification-law-introduced-by-congress-to-help-prevent-opioid-addiction-nationally-301232728.html

SOURCE Partnership for a Drug-Free New Jersey