Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Company believes that there are no compliance issues associated with applicable environmental laws and regulations that would have a material adverse effect on the
The Company believes that there are no compliance issues associated with applicable environmental laws and regulations that would have a material adverse effect on the Company. The Company is also remediating environmental contamination resulting from past industrial activity at certain of its sites. Expenditures for remediation and environmental liabilities were $ million in and are estimated at $ million in the aggregate for the years through These amounts do not consider potential recoveries from other parties. The Company has taken an active role in identifying and accruing for these costs and in managements opinion, the liabilities for all environmental matters that are probable and reasonably estimable have been accrued and totaled $ million and $ million at December and respectively. These liabilities are undiscounted, do not consider potential recoveries from other parties and will be paid out over the periods of remediation for the applicable sites, which are expected to occur primarily over the next years Although it is not possible to predict with certainty the outcome of these matters, or the ultimate costs of remediation, management does not believe that any reasonably possible expenditures that may be incurred in excess of the liabilities accrued should exceed $ million in the aggregate.Management also does not believe that these expenditures should result in a material adverse effect on the Companys financial position, results of operations, liquidity, or capital resources for any year.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started