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(excerpt from form 10-Q SEC filing 3rd Quarter 2013 page 7)
1. Description of Business
YRC Worldwide Inc. (also referred to as “YRC Worldwide,” the “Company,” “we,” “us” or “our”), one of the largest transportation service providers in the world, is a holding company that, through wholly owned operating subsidiaries and its interest in a Chinese joint venture, offers its customers a wide range of transportation services. We have one of the largest, most comprehensive less-than-truckload ("LTL") networks in North America with local, regional, national and international capabilities. Through our team of experienced service professionals, we offer expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Our reporting segments include the following:
Form 10-Q 3rd quarter 2013
YRC Worldwide - Quarterly Report
(excerpt from form 10-Q SEC filing 2nd Quarter 2013 page 61)
During the years ended December 31, 2012 and 2011 , we received dividends in the amount of $2.4 million and $2.3 million , respectively, from our China joint venture, JHJ International Transportation Co., Ltd. (“JHJ”). During the year ended December 31, 2012 , we determined that the estimated fair value of JHJ, a 50% owned equity investment did not exceed its carrying amount and resulted in an impairment charge of $30.8 million on our JHJ equity investment. We determined fair value by discounting JHJ's forecasted future cash flows, an income approach (a level 3 fair value measurement). Our determination to evaluate impairment was based upon market information we obtained in the fourth quarter of 2012. As of December 31, 2012 and 2011 , the excess of our investment over our interest in JHJ's equity is $4.6 million and $35.2 million , respectively.
Form 10-Q 2nd quarter 2013
YRC Worldwide - Quarterly Report
I thought YRCW sold it's interest in China? Why do they show a $30.8 million charge to YRCW's earnings? YRCW's a 50% equity interest partner with Jin Jiang Int in JHJ Holdings LLC (they are privately held entity meaning No stock and No reporting of earnings to the SEC)
JHJ HOLDINGS LLC website (see the YRC Logistics logo-upper left)
JHJ| About JHJ
1. Description of Business
YRC Worldwide Inc. (also referred to as “YRC Worldwide,” the “Company,” “we,” “us” or “our”), one of the largest transportation service providers in the world, is a holding company that, through wholly owned operating subsidiaries and its interest in a Chinese joint venture, offers its customers a wide range of transportation services. We have one of the largest, most comprehensive less-than-truckload ("LTL") networks in North America with local, regional, national and international capabilities. Through our team of experienced service professionals, we offer expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Our reporting segments include the following:
Form 10-Q 3rd quarter 2013
YRC Worldwide - Quarterly Report
(excerpt from form 10-Q SEC filing 2nd Quarter 2013 page 61)
During the years ended December 31, 2012 and 2011 , we received dividends in the amount of $2.4 million and $2.3 million , respectively, from our China joint venture, JHJ International Transportation Co., Ltd. (“JHJ”). During the year ended December 31, 2012 , we determined that the estimated fair value of JHJ, a 50% owned equity investment did not exceed its carrying amount and resulted in an impairment charge of $30.8 million on our JHJ equity investment. We determined fair value by discounting JHJ's forecasted future cash flows, an income approach (a level 3 fair value measurement). Our determination to evaluate impairment was based upon market information we obtained in the fourth quarter of 2012. As of December 31, 2012 and 2011 , the excess of our investment over our interest in JHJ's equity is $4.6 million and $35.2 million , respectively.
Form 10-Q 2nd quarter 2013
YRC Worldwide - Quarterly Report
I thought YRCW sold it's interest in China? Why do they show a $30.8 million charge to YRCW's earnings? YRCW's a 50% equity interest partner with Jin Jiang Int in JHJ Holdings LLC (they are privately held entity meaning No stock and No reporting of earnings to the SEC)
JHJ HOLDINGS LLC website (see the YRC Logistics logo-upper left)
JHJ| About JHJ
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