DOCSLIB.ORG

RENT a CAR SA Version: 1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
RENT a CAR SA Version: 1 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Contents Company Information Capital Structure 1 Company Information / Cash Proceeds 2 Individual Interim Financial Information Balance Sheet – Assets 3 Balance Sheet – Liabilities 4 Statement of Income 6 Statement of Comprehensive Income 7 Statement of Cash Flows 8 Statement of Changes in Equity Statement of Changes in Equity - 01/01/2020 to 09/30/2020 10 Statement of Changes in Equity - 01/01/2019 to 09/30/2019 11 Statement of Value Added 12 Consolidated Interim Financial Information Balance Sheet – Assets 13 Balance Sheet – Liabilities 14 Statement of Income 16 Statement of Comprehensive Income 17 Statement of Cash Flows 18 Statement of Changes in Equity Statement of Changes in Equity - 01/01/2020 to 09/30/2020 20 Statement of Changes in Equity - 01/01/2019 to 09/30/2019 21 Statement of Value Added 22 Comments on Performance 23 Notes to the Interim Financial Information 49 Comments on the Performance of Business Projections 89 Other Information Considered Relevant by the Company 90 Opinions and Representations Report on Review of Interim Financial Information – Unqualified 91 Management’s Statement on the Financial Statements 93 Management’s Statement on the Independent Auditor’s Report 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Company Information / Capital Structure Number of Shares Current Quarter (Thousands) 09/30/2020 Paid-In Capital Common Shares 758,467 Preferred Shares 0 Total 758,467 Treasury Shares Common Shares 7,289 Preferred Shares 0 Total 7,289 PAGE: 1 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Company Information / Cash Proceeds Event Approval Proceeds Beginning of Payment Type of Share Class of Share Earnings per Share (Brazilian Reais / Share) Meeting of the Board of 10/03/2020 Interest on Capital 09/15/2020 Common Shares 0.08901 Directors Meeting of the Board of 06/18/2020 Interest on Capital 10/15/2020 Common Shares 0.08622 Directors Meeting of the Board of 09/04/2020 Interest on Capital 11/05/2020 Common Shares 0.08735 Directors Meeting of the Board of 12/12/2019 Interest on Capital 02/14/2020 Common Shares 0.09499 Directors PAGE: 2 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Balance Sheet – Assets (In Thousands of Brazilian Reais) Code Description Current Quarter Prior Year 09/30/2020 12/31/2019 1 Total Assets 16,494,634 16,202,890 1.01 Current Assets 4,261,730 3,277,819 1.01.01 Cash and Cash Equivalents 2,311,513 1,622,676 1.01.02 Financial Assets 686,096 267,018 1.01.02.01 Financial Assets at fair value through profit or loss 686,096 267,018 1.01.03 Accounts Receivable 813,785 1,095,724 1.01.06 Recoverable Taxes 57,821 29,721 1.01.07 Prepaid Expenses 46,966 10,530 1.01.08 Other Current Assets 345,549 252,150 1.01.08.01 Non-Current Assets Available for Sale 14,291 20,361 1.01.08.03 Other 331,258 231,789 1.01.08.03.01 Dividends Receivable 0 72,212 1.01.08.03.02 Derivative instruments 140,384 0 1.01.08.03.03 Other 190,874 159,577 1.02 Non-Current Assets 12,232,904 12,925,071 1.02.01 Long-Term Assets 462,098 93,345 1.02.01.10 Other Non-Current Assets 462,098 93,345 1.02.01.10.03 Escrow Deposits 78,742 75,064 1.02.01.10.04 Derivative instruments 383,273 18,198 1.02.01.10.05 Other 83 83 1.02.02 Investments 1,447,185 1,141,043 1.02.03 Property and Equipment 10,284,532 11,645,968 1.02.03.01 Property and Equipment in Use 9,400,582 10,760,966 1.02.03.02 Leased Right-of-use 864,385 864,202 1.02.03.02.01 Leased Property and Equipment 0 56 1.02.03.02.02 Right-of-use 864,385 864,146 1.02.03.03 Constructions in Progress 19,565 20,800 1.02.04 Intangible Assets 39,089 44,715 1.02.04.01 Intangible Assets 39,089 44,715 1.02.04.01.04 Software 39,089 44,715 PAGE: 3 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Balance Sheet – Liabilities (In Thousands of Brazilian Reais) Code Description Current Quarter Prior Year 09/30/2020 12/31/2019 2 Total Liabilities 16,494,634 16,202,890 2.01 Current Liabilities 2,345,184 3,033,744 2.01.01 Payroll and Related Taxes 169,958 139,365 2.01.02 Trade Payables 865,726 2,290,871 2.01.02.01 Domestic Suppliers 864,363 2,290,854 2.01.02.02 Foreign Suppliers 1,363 17 2.01.03 Taxes Payable 40,302 21,735 2.01.03.01 Federal Taxes Payable 37,797 17,295 2.01.03.01.01 Income Tax and Social Contribution Payable 30,135 12,024 2.01.03.01.02 Other Federal Taxes 7,662 5,271 2.01.03.03 Municipal Taxes Payable 2,505 4,440 2.01.04 Loans and Financing 725,001 33,269 2.01.04.01 Loans and Financing 711,934 30 2.01.04.01.02 In Foreign Currency 711,934 30 2.01.04.02 Debentures 13,067 33,239 2.01.05 Other Payables 544,197 548,504 2.01.05.01 Payables to Related Parties 10,904 16,804 2.01.05.02 Other 533,293 531,700 2.01.05.02.01 Dividends and Interest on Capital Payable 115,162 63,394 2.01.05.02.04 Other Current Liabilities 271,394 332,316 2.01.05.02.05 Derivative instruments 0 4,456 2.01.05.02.06 Unearned Revenue 2,598 3,213 2.01.05.02.07 Lease liability due to right-of-use 144,139 128,321 2.02 Non-Current Liabilities 8,425,336 7,721,614 2.02.01 Loans and Financing 7,385,732 6,595,798 2.02.01.01 Loans and Financing 2,402,891 1,332,425 2.02.01.01.01 In Local Currency 1,218,011 506,191 2.02.01.01.02 In Foreign Currency 1,184,880 826,234 2.02.01.02 Debentures 4,982,841 5,263,373 2.02.02 Other Payables 775,410 769,836 2.02.02.02 Other 775,410 769,836 2.02.02.02.03 Other Non-Current Liabilities 9,120 8,562 2.02.02.02.04 Lease liability due to right-of-use 766,290 761,274 2.02.03 Deferred Taxes 194,120 194,012 2.02.03.01 Deferred Income Tax and Social Contribution 194,120 194,012 2.02.04 Provisions 65,958 159,083 2.02.04.01 Provision for Tax, Social Security, Labor and Civil Risks 65,958 159,083 2.02.06 Unearned Profit and Revenue 4,116 2,885 2.02.06.02 Unearned Revenue 4,116 2,885 2.03 Equity 5,724,114 5,447,532 2.03.01 Paid-In Capital 3,956,889 3,956,889 2.03.01.01 Capital 4,000,000 4,000,000 2.03.01.02 Expenses on the issuance of shares, net of tax effects -43,111 -43,111 PAGE: 4 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Balance Sheet – Liabilities (In Thousands of Brazilian Reais) Code Description Current Quarter Prior Year 09/30/2020 12/31/2019 2.03.02 Capital Reserves -9,241 163,206 2.03.02.05 Treasury Shares -188,260 -22,288 2.03.02.07 Share Issuance Premium and Stock Options Granted 179,019 185,494 2.03.04 Earnings Reserves 1,327,437 1,327,437 2.03.04.01 Legal Reserve 220,565 220,565 2.03.04.02 Statutory Reserve 1,106,872 1,106,872 2.03.05 Retained Earnings (Accumulated Losses) 449,029 0 PAGE: 5 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Statement of Income (In Thousands of Brazilian Reais) Code Description Accumulated for the Equal Quarter for Accumulated for the Current Quarter Current Year Prior Year Prior Year 07/01/2020 to 09/30/2020 01/01/2020 to 09/30/2020 07/01/2019 to 09/30/2019 01/01/2019 to 09/30/2019 3.01 Revenue from Sales and/or Services 2,403,976 5,795,109 2,143,985 5,999,737 3.02 Cost of Sales and/or Services -1,876,615 -4,631,985 -1,715,143 -4,727,076 3.03 Gross Profit 527,361 1,163,124 428,842 1,272,661 3.04 Operating Income (Expenses) -102,099 -284,328 -147,128 -402,245 3.04.01 Selling Expenses -195,572 -564,423 -171,156 -472,331 3.04.02 General and Administrative Expenses -58,613 -170,223 -52,086 -134,360 3.04.05 Other Operating Expenses 317 89,573 -3,840 -20,164 3.04.06 Equity in the Earnings of Subsidiaries 151,769 360,745 79,954 224,610 Profit (Loss) Before Finance Income (Expenses) and 3.05 Taxes 425,262 878,796 281,714 870,416 3.06 Finance Income (Expenses) -47,127 -196,052 -53,575 -188,838 3.06.01 Finance Income 26,761 69,825 49,719 134,301 3.06.02 Finance Expenses -73,888 -265,877 -103,294 -323,139 3.07 Net Income Before Income Taxes 378,135 682,744 228,139 681,578 3.08 Income Tax and Social Contribution on Profit -52,589 -36,386 -23,427 -75,999 3.08.01 Current -30,347 -36,278 -5,147 -41,487 3.08.02 Deferred -22,242 -108 -18,280 -34,512 3.09 Net Income from Continuing Operations 325,546 646,358 204,712 605,579 3.11 Net Income for the Period 325,546 646,358 204,712 605,579 3.99 Earnings per Share (R$/Share) 3.99.01 Basic Earnings per Share 3.99.01.01 Common Shares 0.43338 0.85923 0.27094 0.80948 3.99.02 Diluted Earnings per Share 3.99.02.01 Common Shares 0.43253 0.85748 0.26968 0.80496 PAGE: 6 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Statement of Comprehensive Income (In Thousands of Brazilian Reais) Code Description Accumulated for the Equal Quarter for Accumulated for the Prior Current Quarter Current Year Prior Year Year 07/01/2020 to 09/30/2020 01/01/2020 to 09/30/2020 07/01/2019 to 09/30/2019 01/01/2019 to 09/30/2019 4.01 Net Income for the Period 325,546 646,358 204,712 605,579 4.03 Comprehensive Income for the Period 325,546 646,358 204,712 605,579 PAGE: 7 of 94 ITR - Interim Financial Information - 09/30/2020 - LOCALIZA RENT A CAR SA Version: 1 Individual Financial Statements / Statement of Cash Flows – Indirect Method (In Thousands of Brazilian Reais) Code Description Accumulated for the Accumulated for the Current Year Prior Year 01/01/2020 to 09/30/2020 01/01/2019 to 09/30/2019 6.01 Net Cash
Load more

Recommended publications
  • Car Rental 2 Fleet Rental 3 Seminovos 4 Financials 5 Appendix: Earnings Release 3Q18
    Investor Relations Presentation November, 2018. , AGENDA 1 COMPANY OVERVIEW 2 COMPETITIVE ADVANTAGES 3 MAIN BUSINESS DIVISIONS 1 CAR RENTAL 2 FLEET RENTAL 3 SEMINOVOS 4 FINANCIALS 5 APPENDIX: EARNINGS RELEASE 3Q18 2 COMPANY HISTORY: MILESTONES Phase III: Phase IV: Digital Phase I: Rise to #1 Phase II: Expansion Reaching Scale Transformation Expansion strategy PE firm DL&J enters at IPO with a Market Cap of Founded in Belo by adjacencies: a market cap of US$295 mm 100,000 cars Strategic partnership Horizonte with 6 Seminovos US$150 mm with Hertz - VW Beetles 1.000 cars 150,000 cars 1979 1984 1992 1999 2006 2014 2018 1973 1982 1991 1997 2005 2011 2017 +222,000 cars Beginning of Market Cap Expasion to 11 Expansion Internationalization Expansion strategy by 50,000 cars Digital Transformation US$3.8 Billion (09/30/18) capital cities strategy through Franchising adjacencies: Fleet becoming market by adjacencies: Rental leader in 1981 Franchising 3 CAR RENTAL FLEET RENTAL • 156,436 CARS •51,236 CARS • 8.3 MILLION CLIENTS • +1,000 CLIENTS • 395 LOCATIONS • 304 EMPLOYEES INTEGRATED • 4,788 EMPLOYEES SYNERGIES: BARGAINING POWER BUSINESS COST REDUCTION CROSS SELLING PLATFORM OVERHEAD AND SUPPORT: 1,335 EMPLOYEES THIS INTEGRATED PLATFORM GIVES LOCALIZA FRANCHISING USED CAR SALES FLEXIBILITY AND SUPERIOR • 14,505 CARS • 48% SOLD TO FINAL CONSUMER PERFORMANCE • 127 LOCATIONS IN BRASIL • 101 STORES • 61 LOCATIONS IN SOUTH AMERICA • 67 CITIES • 33 EMPLOYEES • 1,317 EMPLOYEES 3Q18 4 COMPANY: BUSINESS PLATFORM DIVISIONS CAR RENTAL FRANCHISING FLEET RENTAL USED CAR SALES SELLS THE USED CARS MAINLY TO RENTS TO INDIVIDUALS AND CONTRIBUTES TO EXPAND OUTSOURCES FLEET FOR 2-3 FINAL CONSUMERS AFTER THE COMPANIES AT AIRPORTS AND YEARS’ TERM CONTRACTS.
    [Show full text]
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • List of Brands
    Global Consumer 2019 List of Brands Table of Contents 1. Digital music 2 2. Video-on-Demand 4 3. Video game stores 7 4. Digital video games shops 11 5. Video game streaming services 13 6. Book stores 15 7. eBook shops 19 8. Daily newspapers 22 9. Online newspapers 26 10. Magazines & weekly newspapers 30 11. Online magazines 34 12. Smartphones 38 13. Mobile carriers 39 14. Internet providers 42 15. Cable & satellite TV provider 46 16. Refrigerators 49 17. Washing machines 51 18. TVs 53 19. Speakers 55 20. Headphones 57 21. Laptops 59 22. Tablets 61 23. Desktop PC 63 24. Smart home 65 25. Smart speaker 67 26. Wearables 68 27. Fitness and health apps 70 28. Messenger services 73 29. Social networks 75 30. eCommerce 77 31. Search Engines 81 32. Online hotels & accommodation 82 33. Online flight portals 85 34. Airlines 88 35. Online package holiday portals 91 36. Online car rental provider 94 37. Online car sharing 96 38. Online ride sharing 98 39. Grocery stores 100 40. Banks 104 41. Online payment 108 42. Mobile payment 111 43. Liability insurance 114 44. Online dating services 117 45. Online event ticket provider 119 46. Food & restaurant delivery 122 47. Grocery delivery 125 48. Car Makes 129 Statista GmbH Johannes-Brahms-Platz 1 20355 Hamburg Tel. +49 40 2848 41 0 Fax +49 40 2848 41 999 [email protected] www.statista.com Steuernummer: 48/760/00518 Amtsgericht Köln: HRB 87129 Geschäftsführung: Dr. Friedrich Schwandt, Tim Kröger Commerzbank AG IBAN: DE60 2004 0000 0631 5915 00 BIC: COBADEFFXXX Umsatzsteuer-ID: DE 258551386 1.
    [Show full text]
  • Sustainability Report 2020
    SUSTAINABILITY REPORT 2020 LOCALIZA SUSTAINABILITY REPORT 2020 FOREWORD ABOUT LOCALIZA ETHICS AND GOVERNANCE TAKING CARE OF PEOPLE CUSTOMERS ARE OUR PASSION PERFORMANCE IN THE YEAR SOCIAL AND ENVIRONMENTAL LEGACY GRI CONTENT INDEX SUMMARY FOREWORD CUSTOMERS ARE OUR PASSION MESSAGE FROM THE CEO ROAD SAFETY ABOUT THIS REPORT QUALITY AND INNOVATION ESG ASSESSMENT PERFORMANCE IN THE YEAR 2020 AT A GLANCE 102 MACRO-ECONOMIC CONDITIONS ABOUT LOCALIZA FINANCIAL PERFORMANCE OUR BUSINESSES SUSTAINABLE STRATEGY SOCIAL AND ENVIRONMENTAL LEGACY SOCIAL DEVELOPMENT ETHICS AND GOVERNANCE GREEN MINDSET GOVERNANCE STRUCTURE AND GRI CONTENT INDEX GUIDELINES CORPORATE INFORMATION RISK MANAGEMENT COMPLIANCE AND ETHICS PROGRAM TAKING CARE OF PEOPLE OUR PANDEMIC RESPONSE DIVERSITY, INCLUSION AND HUMAN RIGHTS PROFESSIONAL DEVELOPMENT LOCALIZA SUSTAINABILITY REPORT 2020 FOREWORD ABOUT LOCALIZA ETHICS AND GOVERNANCE TAKING CARE OF PEOPLE CUSTOMERS ARE OUR PASSION PERFORMANCE IN THE YEAR SOCIAL AND ENVIRONMENTAL LEGACY GRI CONTENT INDEX FOREWORD 33 LOCALIZA SUSTAINABILITY REPORT 2020 FOREWORD ABOUT LOCALIZA ETHICS AND GOVERNANCE TAKING CARE OF PEOPLE CUSTOMERS ARE OUR PASSION PERFORMANCE IN THE YEAR SOCIAL AND ENVIRONMENTAL LEGACY GRI CONTENT INDEX MESSAGE FROM THE CEO GRI 102-14 A STORY OF LEADERSHIP AND RESILIENCE 2020. A year that will inevitably leave an indelible mark mental-health support for them and their dependents. on each of us. In both our personal and professional lives, Protecting our customers was also top of mind in all and in our family and business lives, 2020 showed us the our processes, ensuring safe mobility with excellence remarkable ability that people have for transformational and superior care. We made sure each of our car rental change.
    [Show full text]
  • 2017 Financial Statements
    (A free translation of the original in Portuguese) INDEX Management report Message from the CEO 3 Message from the Executive Chairman 4 Macroeconomic scenario 5 Business overview 5 Geographic distribution 6 Shareholding 6 Dividends and interest on equity 7 Investments in subsidiaries 8 Acquisition of Hertz Brasil and strategic alliance with The Hertz Corporation 8 Analysis of consolidated results 9 Analysis of consolidated balance sheet 12 Taxes 15 Main awards received 16 Sustainability 16 People management 20 Financial statements Independent auditor's report on the individual and consolidated Financial Statements 24 Balance sheets – assets 29 Balance sheets – liabilities and equity 30 Income statements 31 Statements of comprehensive income 32 Individual and consolidated statements of changes in equity 33 Statements of cash flows 34 Statements of value added 36 Notes to the financial statements: General information 37 Basis of preparation, presentation of financial statements and summary of significant accounting policies 37 Recently issued accounting pronouncements and interpretations 40 Cash and cash equivalents 42 Financial assets 42 Trade receivables 42 Other current and non‐current assets 44 Investments in subsidiaries and related‐party transactions 44 Property and equipment 52 Intangible assets 56 Trade payables 58 Payroll and related taxes 58 Loans, financing, marketable securities and swap 58 Other current and non‐current liabilities 65 Provisions and escrow deposits 65 Taxes on income – income tax and social contribution 69 Equity
    [Show full text]
  • DFA Canada Global Sustainability Core Equity Fund - Class F (USD) As of July 31, 2021 (Updated Monthly) Source: RBC Holdings Are Subject to Change
    DFA Canada Global Sustainability Core Equity Fund - Class F (USD) As of July 31, 2021 (Updated Monthly) Source: RBC Holdings are subject to change. The information below represents the portfolio's holdings (excluding cash and cash equivalents) as of the date indicated, and may not be representative of the current or future investments of the portfolio. The information below should not be relied upon by the reader as research or investment advice regarding any security. This listing of portfolio holdings is for informational purposes only and should not be deemed a recommendation to buy the securities. The holdings information below does not constitute an offer to sell or a solicitation of an offer to buy any security. The holdings information has not been audited. By viewing this listing of portfolio holdings, you are agreeing to not redistribute the information and to not misuse this information to the detriment of portfolio shareholders. Misuse of this information includes, but is not limited to, (i) purchasing or selling any securities listed in the portfolio holdings solely in reliance upon this information; (ii) trading against any of the portfolios or (iii) knowingly engaging in any trading practices that are damaging to Dimensional or one of the portfolios. Investors should consider the portfolio's investment objectives, risks, and charges and expenses, which are contained in the Prospectus. Investors should read it carefully before investing. Your use of this website signifies that you agree to follow and be bound by the terms
    [Show full text]
  • Appendix D - Securities Held by Funds October 18, 2017 Annual Report of Activities Pursuant to Act 44 of 2010 October 18, 2017
    Report of Activities Pursuant to Act 44 of 2010 Appendix D - Securities Held by Funds October 18, 2017 Annual Report of Activities Pursuant to Act 44 of 2010 October 18, 2017 Appendix D: Securities Held by Funds The Four Funds hold thousands of publicly and privately traded securities. Act 44 directs the Four Funds to publish “a list of all publicly traded securities held by the public fund.” For consistency in presenting the data, a list of all holdings of the Four Funds is obtained from Pennsylvania Treasury Department. The list includes privately held securities. Some privately held securities lacked certain data fields to facilitate removal from the list. To avoid incomplete removal of privately held securities or erroneous removal of publicly traded securities from the list, the Four Funds have chosen to report all publicly and privately traded securities. The list below presents the securities held by the Four Funds as of June 30, 2017. 1345 AVENUE OF THE A 1 A3 144A AAREAL BANK AG ABRY MEZZANINE PARTNERS LP 1721 N FRONT STREET HOLDINGS AARON'S INC ABRY PARTNERS V LP 1-800-FLOWERS.COM INC AASET 2017-1 TRUST 1A C 144A ABRY PARTNERS VI L P 198 INVERNESS DRIVE WEST ABACUS PROPERTY GROUP ABRY PARTNERS VII L P 1MDB GLOBAL INVESTMENTS L ABAXIS INC ABRY PARTNERS VIII LP REGS ABB CONCISE 6/16 TL ABRY SENIOR EQUITY II LP 1ST SOURCE CORP ABB LTD ABS CAPITAL PARTNERS II LP 200 INVERNESS DRIVE WEST ABBOTT LABORATORIES ABS CAPITAL PARTNERS IV LP 21ST CENTURY FOX AMERICA INC ABBOTT LABORATORIES ABS CAPITAL PARTNERS V LP 21ST CENTURY ONCOLOGY 4/15
    [Show full text]
  • Michael Kass | Baron Emerging Markets Fund
    March 31, 2021 Baron Emerging Markets Fund DEAR BARON EMERGING MARKETS FUND SHAREHOLDER: PERFORMANCE Baron Emerging Markets Fund (the “Fund”) declined a modest 0.16% (Institutional Shares) during the first quarter of 2021, while its principal benchmark index, the MSCI EM Index, appreciated 2.29%. The MSCI EM IMI Growth Index gained 1.30% for the quarter. The Fund underperformed its principal benchmark index, as well as the all-cap growth proxy, after a strong period of absolute and relative performance in the second half of 2020. Emerging market (“EM”) and international equities modestly trailed their U.S. counterparts, consolidating the outperformance of the second half of 2020. Market leadership by sector continued to ebb and flow, with strength in quality growth stocks in the first half of the quarter giving way to notable outperformance by more economically cyclical stocks in the second half. In our view, with the exception of a couple of outlier countries, investors largely looked through ongoing COVID-19 disruption and focused on vaccine penetration and sustained fiscal largesse, anticipating positive corporate earnings momentum in future periods. The rise in longer-term sovereign bond yields that began late last year accelerated midway through MICHAEL KASS Retail Shares: BEXFX the quarter, coincident with the sector rotation noted above. In our view, Institutional Shares: BEXIX this signals the market’s passage through the most favorable post-COVID PORTFOLIO MANAGER R6 Shares: BEXUX market environment, where risk aversion and low expectations met massive policy stimulus and positive vaccine developments. Going forward, equities will be much more sensitive to growth and inflation expectations, though Table I.
    [Show full text]
  • The Future of Mobility Ride-Hailing and New Businesses to Fuel $7Tn+
    EQUITY RESEARCH | June 4, 2019 | 6:25 AM EDT The following is a redacted version of the original report. See inside for details. THE FUTURE OF M BILITY Ride-hailing and new businesses to fuel $7tn+ global mobility market The next 10 years of mobility will bring more change in the way that people and products move than any decade since the invention of the automobile. Emerging technologies and business models like ride-hailing and sharing, autonomous driving and delivery, micro-mobility and even eVTOL (flying cars, finally) stand to disrupt profit pools that we estimate exceed $700bn, and venture backed startups and incumbents will attempt to address over $7tn in spend- ing. Given the size of the opportunity, it should come as no surprise that access to capital has created a hyper competi- tive environment marked by massive operating losses driven by marketing, subsidies, incentives, and capital in- vestment. As this environment matures and rationalizes, we expect consolidation that will lead to profitability, the establishment of category leaders, and significant opportunities for investors. Heath P. Terry, CFA Daniel Powell Piyush Mubayi Frank Jarman David Tamberrino, CFA Adam Hotchkiss +1 212 357-1849 +1 917 343-4120 +852 2978-1677 +1 212 902-7537 +1 212 357-7617 +1 212 902-3941 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Goldman Sachs & Co. LLC Goldman Sachs & Co. LLC Goldman Sachs (Asia) L.L.C. Goldman Sachs & Co. LLC Goldman Sachs & Co. LLC Goldman Sachs & Co.LLC Goldman Sachs does and seeks to do business with companies covered in its research reports.
    [Show full text]
  • Caronaê – Uma Alternativa Para O Gerenciamento Da Mobilidade
    Caronaê – Uma alternativa para o Gerenciamento da Mobilidade Manuel de Figueiredo Meyer Projeto de Graduação apresentado ao Curso de Engenharia Ambiental da Escola Politécnica, Universidade Federal do Rio de Janeiro, como parte dos requisitos necessários à obtenção do título de Engenheiro. Orientadores: Marcio de Almeida D’Agosto Rio de Janeiro Setembro de 2019 CARONAÊ – UMA ALTERNATIVA PARA O GERENCIAMENTO DA MOBILIDADE Manuel de Figueiredo Meyer PROJETO DE GRADUAÇÃO SUBMETIDO AO CORPO DOCENTE DO CURSO DE ENGENHARIA AMBIENTAL DA ESCOLA POLITÉCNICA DA UNIVERSIDADE FEDERAL DO RIO DE JANEIRO COMO PARTE DOS REQUISITOS NECESSÁRIOS PARA A OBTENÇÃO DO GRAU DE ENGENHEIRO AMBIENTAL. Examinado por: ______________________________________________ Prof. Dr. Marcio Almeida D’Agosto PET/COPPE - UFRJ ______________________________________________ Prof. Dr. Ronaldo Balassiano PET/COPPE - UFRJ ______________________________________________ Profª Dra. Elen Beatriz Acordi Vasques Pacheco RIO DE JANEIRO, RJ - BRASIL SETEMBRO de 2019 Figueiredo Meyer, Manuel de Caronaê – Uma alternativa para o Gerenciamento da Mobilidade/ Manuel de Figueiredo Meyer – Rio de Janeiro: UFRJ/ Escola Politécnica, 2019. VII, nº p. 69: il,; 29,7cm Orientador: Marcio Almeida D’Agosto Projeto de Graduação – UFRJ/ Escola Politécnica/ Engenharia Ambiental, 2019. Referências Bibliográficas: p. 77-79 1. Sistemas de Carona, 2. O Projeto Caronaê 3. Polo Geradores de Viagens, 4. Gerenciamento da mobilidade. I. Almeida D’Agostos, Marcio. II. Universidade Federal do Rio de Janeiro, Escola
    [Show full text]
  • The Global Car Rental Market to 2018
    The Global Car Rental Market To 2018 Report Code: TT0203MR Publication Date: December 2014 www.tourism-ic.com John Carpenter House 7 Carmelite Street London EC4Y 0BS United Kingdom Tel: +44 (0)20 7936 6400 Fax: +44 (0)20 7336 6813 Global Car Rental Market to 2018 Page 1 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 SUMMARY 1 SUMMARY According to the Travel &Tourism intelligence center (TTIC) analysis based on 40 countries around the world, the US was the leader in the car rental market in terms of both market value and fleet size. The US recorded US$XX.XX billion market value in 2013, which is more than six times that of its competitor, Japan, which recorded US$ XX.XX billion market value in 2013. The Eurozone crisis had a negative impact on the Travel and Tourism sector in European countries. However, car rental KPIs showed resilience in many countries (with the exception of Italy and Spain) with overall growth recorded in KPIs during the historic period. The hosting of international events such as Olympic Games in London in 2012 and Winter Olympic Games in Russia in 2014 have partially supported the growth. Challenging economic conditions and fierce competition have resulted in a large number of deals recorded in the global car rental market during the historic period as a means for operators to improve profitability and remain competitive. Some of the biggest deals in the car rental market were recorded in the US such as the acquisition of Dollar Thrifty Automotive Group by Hertz.
    [Show full text]
  • Enterprise Short Term Car Rental
    Enterprise Short Term Car Rental Unrighteous Charlie always unmould his tatami if Mario is glumpier or annulled confoundingly. Autonomous and Delphi Melvin attacks almost assuredly, though Romeo meddle his philosophizer like. Frontier Willmott reunited very perceptively while Tymothy remains pyriform and steel-plated. Update this vehicle coordinators who are very choice of safety features is charged as it that enterprise rental vehicle Flex is definitely worth considering for your time road trip. Car-sharing keep On-demand short-term car rentals CNET. Airport rental companies have updated hygiene and national, roomy estate or lexus vehicle rentals at the terms of a short term. Everyday low hourly or other. BWI Marshall Airport Rental Car Facility BWI Airport. It often indicates a user profile. Such accessibility and agility are unique in infant car rental and travel industries, and our ability to you respond your demand fluctuations directly mitigates the historical volatility of airport car rental. Enterprise car dealers near you. Faculty and devastate should constrain the travel policy guidelines and use seem most efficient precise cost effective travel options for you warn your department. IE by calling this without checking the console exists first. Many international car rental companies are represented at the airport. Car rental locations than a enterprise branches have been published undiscounted daily rental may. The cost make a three-month rental with Enterprise can-or-more at Pittsburgh. The enterprise rentals at the largest selection between the. Discounts coupons RentalPerkscom is an authorized Enterprise discount codes partner. Once you have made an online booking, your vehicle will be ready and waiting at the location you requested.
    [Show full text]