Question
Headquartered in Montreal, Canada, Valeant Pharmaceuticals International is a multinational company that develops and markets prescription and non-prescription products in dermatology and neurology. The company
Headquartered in Montreal, Canada, Valeant Pharmaceuticals International is a multinational company that develops and markets prescription and non-prescription products in dermatology and neurology. The company is listed both on the NYSE and Toronto Stock Exchange. Its 2015 Income Statement reported the following line item.
$Millions 2015 2014 2013
Loss of Extinguishment debt------------------ $20.0 $129.6 $65.0
a) What is a Loss of extinguishment of debt? When does such a loss occur?
b) How is this loss calculated?
c) How does this loss impact the financial statements?
d) Why might management want to retire this debt early, even if it was at a loss?
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Financial Accounting And Reporting For Non Accounting Students How To Interpret Financial Statements And Appraise Company Performance
Authors: Stephen Frost
1st Edition
1398614084, 978-1398614086
