| Industries |
|---|
| Food Distributors |
| Trading Companies and Distributors |
| Automobiles and Components |
| Electrical Components and Equipment |
| Environmental Services |
| Asset Management and Custody Banks |
| Exposures |
|---|
| Military |
| Political reform |
| Cooperate |
| Policy |
| Express intent |
| Provide |
| Event Codes |
|---|
| Accident |
| Solicit support |
| Adjust |
| Reduce routine activity |
| Sports contest |
| Warn |
| Host meeting |
| Collaborate |
| Yield |
| Yield to order |
| Acknowledge responsibility |
| Agree |
| Offer peace proposal |
| Wiki | Wiki Summary |
|---|---|
| Additional secretary to the Government of India | Additional Secretary (often abbreviated as AS, GoI or Union Additional Secretary or Additional Secretary to Government of India) is a post and a rank under the Central Staffing Scheme of the Government of India. The authority for creation of this post solely rests with Cabinet of India.Additional secretary is mostly a career civil servant, generally from the Indian Administrative Service, and is a government official of high seniority. |
| International Standards on Auditing | International Standards on Auditing (ISA) are professional standards for the auditing of financial information. These standards are issued by the International Auditing and Assurance Standards Board (IAASB). |
| Operation Mincemeat | Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin. |
| Bitwise operation | In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor. |
| Operations management | Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements. |
| Surgery | Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery". |
| Financial condition report | In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios. Risk assessment in an FCR involves dynamic solvency testing, a type of dynamic financial analysis that simulates management response to risk scenarios, to test whether a company could remain solvent in the face of deteriorating economic conditions or major disasters. |
| Form 10-K | A Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. Although similarly named, the annual report on Form 10-K is distinct from the often glossy "annual report to shareholders," which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document). |
| Aviation Industry Corporation of China | The Aviation Industry Corporation of China (AVIC) is a Chinese state-owned aerospace and defense conglomerate headquartered in Beijing. It is ranked 140th in the Fortune Global 500 list as of 2021, and has over 100 subsidiaries, 27 listed companies and 500,000 employees across the globe. |
| List of United States naval aircraft | The list of United States naval aircraft contains types currently used by United States Navy and the United States Marine Corps. For a complete list of naval aircraft designated under pre-1962 United States Navy designation systems, see List of United States Navy aircraft designations (pre-1962); for aircraft without formal designations, see List of undesignated military aircraft of the United States. |
| The Competition Act, 2002 | The Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law. It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969. |
| Muteness | Muteness or mutism (from Latin mutus 'silent') is defined as an absence of speech while conserving or maintaining the ability to hear the speech of others. Mutism is typically understood as a person's inability to speak, and commonly observed by their family members, caregivers, teachers, doctors or speech and language pathologists. |
| Insomnia | An insignia (from Latin insignia, plural of insigne 'emblem, symbol, ensign') is a sign or mark distinguishing a group, grade, rank, or function. It can be a symbol of personal power or that of an official group or governing body. |
| Total depravity | Total depravity (also called radical corruption or pervasive depravity) is a Protestant theological doctrine derived from the concept of original sin. It teaches that, as a consequence of man's fall, every person born into the world is enslaved to the service of sin as a result of their fallen nature and, apart from the efficacious (irresistible) or prevenient (enabling) grace of God, is completely unable to choose by themselves to follow God, refrain from evil, or accept the gift of salvation as it is offered. |
| Madonna–whore complex | In psychoanalytic literature, a Madonna–Whore Complex, also called a Madonna–Mistress Complex, is the inability to maintain sexual arousal within a committed, loving relationship. First identified by Sigmund Freud, under the rubric of psychic impotence, this psychological complex is said to develop in men who see women as either saintly Madonnas or debased prostitutes. |
| Tacit assumption | A tacit assumption or implicit assumption is an assumption that underlies a logical argument, course of action, decision, or judgment that is not explicitly voiced nor necessarily understood by the decision maker or judge. These assumptions may be made based on personal life experiences, and are not consciously apparent in the decision making environment. |
| Assumption of Mary | The Assumption of Mary is one of the four Marian dogmas of the Catholic Church. (The word 'assumption' derives from the Latin word assūmptiō meaning "taking up"). |
| Assumption-based planning | Assumption-based planning in project management is a post-planning method that helps companies to deal with uncertainty. It is used to identify the most important assumptions in a company's business plans, to test these assumptions, and to accommodate unexpected outcomes. |
| Inventory | Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation.Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials. |
| Inventory investment | Inventory investment is a component of gross domestic product (GDP). What is produced in a certain country is naturally also sold eventually, but some of the goods produced in a given year may be sold in a later year rather than in the year they were produced. |
| Minsk agreements | The Minsk agreements were a series of international agreements which sought to end the war in the Donbas region of Ukraine. The first, known as the Minsk Protocol, was drafted in 2014 by the Trilateral Contact Group on Ukraine, consisting of Ukraine, Russia, and the Organization for Security and Co-operation in Europe (OSCE), with mediation by the leaders of France and Germany in the so-called Normandy Format. |
| The Four Agreements | The Four Agreements: A Practical Guide to Personal Freedom is a self-help book by bestselling author Don Miguel Ruiz with Janet Mills. The book offers a code of conduct claiming to be based on ancient Toltec wisdom that advocates freedom from self-limiting beliefs that may cause suffering and limitation in a person's life. |
| Non-disclosure agreement | A non-disclosure agreement (NDA), also known as a confidentiality agreement (CA), confidential disclosure agreement (CDA), proprietary information agreement (PIA), secrecy agreement (SA), or non-disparagement agreement, is a legal contract or part of a contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to. Doctor–patient confidentiality (physician–patient privilege), attorney–client privilege, priest–penitent privilege and bank–client confidentiality agreements are examples of NDAs, which are often not enshrined in a written contract between the parties. |
| Master service agreement | A master service agreement, sometimes known as a framework agreement, is a contract reached between parties, in which the parties agree to most of the terms that will govern future transactions or future agreements.\nA master agreement delineates a schedule of lower-level service agreements, permitting the parties to quickly enact future transactions or agreements, negotiating only the points specific to the new transactions and relying on the provisions in the master agreement for common terms. |
| Prenuptial agreement | A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple prior to marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage eventually ends by death or divorce. Couples enter into a written prenuptial agreement to supersede many of the default marital laws that would otherwise apply in the event of divorce, such as the laws that govern the division of property, retirement benefits, savings, and the right to seek alimony (spousal support) with agreed-upon terms that provide certainty and clarify their marital rights. |
| Misophonia | Misophonia is a disorder of decreased tolerance to specific sounds or their associated stimuli that has been characterized using different language and methodologies. Reactions to trigger sounds range from anger and annoyance to activating a fight-or-flight response. |
| Complication (medicine) | A complication in medicine, or medical complication, is an unfavorable result of a disease, health condition, or treatment. Complications may adversely affect the prognosis, or outcome, of a disease. |
| Comparison of DNS blacklists | The following table lists technical information for assumed reputable DNS blacklists used for blocking spam.\n\n\n== Notes ==\n"Collateral listings"—Deliberately listing non-offending IP addresses, in order to coerce ISPs to take action against spammers under their control. |
| Anthropogenic hazard | Anthropogenic hazards are hazards caused by human action or inaction. They are contrasted with natural hazards. |
| Roentgen equivalent man | The roentgen equivalent man (rem) is a CGS unit of equivalent dose, effective dose, and committed dose, which are dose measures used to estimate potential health effects of low levels of ionizing radiation on the human body.\nQuantities measured in rem are designed to represent the stochastic biological risk of ionizing radiation, which is primarily radiation-induced cancer. |
| Total effective dose equivalent | The Total effective dose equivalent (TEDE) is a radiation dosimetry quantity defined by the US Nuclear Regulatory Commission to monitor and control human exposure to ionizing radiation. It is defined differently in the NRC regulations and NRC glossary. |
| Nuclear Regulatory Commission | The Nuclear Regulatory Commission (NRC) is an independent agency of the United States government tasked with protecting public health and safety related to nuclear energy. Established by the Energy Reorganization Act of 1974, the NRC began operations on January 19, 1975, as one of two successor agencies to the United States Atomic Energy Commission. |
| Requirements elicitation | In requirements engineering, requirements elicitation is the practice of researching and discovering the requirements of a system from users, customers, and other stakeholders. The practice is also sometimes referred to as "requirement gathering". |
| Professional liability insurance | Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. \nThe coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. |
| Environmentalism | Environmentalism or environmental rights is a broad philosophy, ideology, and social movement regarding concerns for environmental protection and improvement of the health of the environment, particularly as the measure for this health seeks to incorporate the impact of changes to the environment on humans, animals, plants and non-living matter. While environmentalism focuses more on the environmental and nature-related aspects of green ideology and politics, ecologism combines the ideology of social ecology and environmentalism. |
| Environmental ethics | In environmental philosophy, environmental ethics is an established field of practical philosophy "which reconstructs the essential types of argumentation that can be made for protecting natural entities and the sustainable use of natural resources." The main competing paradigms are anthropocentrism, physiocentrism (called ecocentrism as well), and theocentrism. Environmental ethics exerts influence on a large range of disciplines including environmental law, environmental sociology, ecotheology, ecological economics, ecology and environmental geography. |
| Risk Factors |
|---|
| AAR CORP ITEM 1A RISK FACTORS The following is a description of some of the principal risks inherent in our business |
| The risks and uncertainties described below are not the only ones facing us |
| Additional risks and uncertainties not presently known to us, or that we currently deem immaterial, could negatively impact our results of operations or financial condition in the future |
| 5 ______________________________________________________________________ We may be affected by continuing problems in the aviation industry |
| As a provider of products and services to the aviation industry, we are greatly affected by the overall economic condition of that industry |
| The aviation industry is historically cyclical |
| Early in calendar year 2001, the commercial aviation industry began to experience the negative effects of a worldwide economic downturn |
| The events of September 11, 2001 exacerbated that condition, resulting in a significant decline in air travel and reduced capacity by most of the major US-based airlines |
| Since September 11, 2001, the aviation industry has also been negatively affected by historically high fuel prices, the war on terrorism and the outbreak of Severe Acute Respiratory Syndrome, or SARS As a result of these and other events, certain customers filed for bankruptcy protection, including Air Canada, Aloha Airlines, Delta Air Lines, Mesaba Airlines, Northwest Airlines, US Airways, United Airlines and Varig |
| Our business, financial condition and results of operations may be adversely impacted by the following: · continued historically high fuel costs; · future terrorist attacks and the ongoing war on terrorism; · deterioration in the financial condition of some of our existing and potential customers, as well as airlines currently in bankruptcy; · reductions in the need for, or the deferral of, aircraft maintenance and repair services and spare parts support; · retirement of older generation aircraft, resulting in lower prices for spare parts and services for those aircraft; · reductions in demand for used aircraft and engines; and · future outbreaks of SARS or similar communicable diseases |
| The economic and other factors affecting the aviation industry may have an adverse impact on our results of operations and financial condition |
| Our customers may not be able to meet their financial obligations to us, which would adversely affect our financial condition and results of operations |
| A number of our existing and prospective worldwide airline customers continue to suffer from the problems affecting the aviation industry, and some have filed for bankruptcy protection or are only recently emerging from bankruptcy |
| Our inability to collect receivables from one or more important customers could adversely affect our results of operations and financial condition |
| The market value for our aviation products fluctuates |
| We have used a number of assumptions when determining the recoverability of inventories and aircraft and engines which are on lease or available for lease |
| These assumptions include historical sales trends, current and expected usage trends, replacement values, current and expected lease rates, residual values, future demand, and future cash flows |
| Principally as a result of the events of September 11, 2001 and its impact on the global airline industry’s financial condition, fleet size and aircraft utilization, we recorded a significant charge for impaired inventories and engines during the second quarter of fiscal 2002 utilizing those assumptions |
| During the fourth quarter of fiscal 2003, we recorded an additional charge as a result of a further decline in market value for certain of these inventories, aircraft and engines |
| Reductions in demand for our inventories or declining market values, as well as differences between actual results and the assumptions utilized by us when determining the recoverability of our inventories, aircraft and engines, 6 ______________________________________________________________________ could result in additional impairment charges in future periods |
| We can give no assurance that future impairment charges for our inventories, aircraft and engines will not occur |
| Our government contracts may not continue at present sales levels, which may have a material adverse effect on our financial condition and results of operations |
| Our sales to the US Department of Defense and its contractors were approximately dlra300 million (33dtta5prca of consolidated sales) in fiscal year 2006 |
| The majority of our government contracts are for aviation products and services used for ongoing military logistic support activities and for products which support the US Military’s deployment strategy |
| Our contracts with the US Department of Defense and its contractors are typically firm agreements to provide products and services at a fixed price and have a term of one year or less, frequently subject to extension for one or more additional periods of one year at the option of the US Department of Defense |
| Because these sales are subject to competitive bidding, government funding and requirements generated by world events, sales to our government customers may not continue at levels previously experienced, which could have an adverse effect on our results of operations and financial condition |
| We may be unable to re-lease or sell currently leased aircraft and engines |
| We purchase and lease aircraft and engines to our customers on an operating lease basis |
| Our ability to re-lease or sell these assets on acceptable terms is subject to a number of factors which drive industry capacity, including new aircraft deliveries, availability of used aircraft and engines in the marketplace, competition, financial condition of our customers, overall health of the airline industry and general economic conditions |
| Our inability to re-lease or sell aircraft and engines that are currently on lease could adversely affect our results of operations and financial condition |
| Our Indianapolis Maintenance Center (“IMC”) is still in the start-up phase and may not be able to capture market share from the competition |
| In June 2004, we entered into a long-term agreement to occupy a significant portion of an airframe maintenance facility in Indianapolis, Indiana |
| The IMC is comprised of 12 airframe maintenance bays (10 of which are available to us), as well as backshop, warehouse and office space |
| Revenues at the IMC will fluctuate based on the demand for maintenance driven by the number of aircraft operating and potential outsourcing of maintenance activities by airlines |
| Furthermore, we may not be able to capture market share in the highly competitive airframe maintenance market at the IMC, or we may not be able to hire and retain the required amount of qualified licensed aircraft mechanics |
| As a result, we may not be able to execute our operational and financial plan at the IMC, which could adversely affect our results of operations and financial condition |
| We operate in a highly competitive industry, and competitive pressures may adversely affect us |
| The aviation industry and the markets for our products and services are highly competitive, and we face competition from a number of sources |
| Our competitors include aircraft manufacturers, aircraft parts manufacturers, airline and aircraft service companies, other companies providing maintenance, repair and overhaul services, and other aircraft spare parts distributors and redistributors |
| Some of our competitors have substantially greater financial and other resources than we have |
| We can give no assurance that competitive pressures will not adversely affect our results of operations and financial condition |
| 7 ______________________________________________________________________ We are dependent upon continued availability of financing to manage our business and to execute our business strategy, and additional financing may not be available on terms acceptable to us |
| Our ability to manage our business and to execute our business strategy is dependent, in part, on the continuing availability of debt and equity capital |
| Access to the debt and equity capital markets may be limited by various factors, including general economic conditions, the state of the aviation industry, our financial performance and current credit ratings |
| Our inability to obtain financing on favorable terms could adversely affect our results of operations and financial condition |
| Our existing debt includes restrictive and financial covenants |
| Certain of our loan agreements require us to comply with various restrictive covenants |
| These covenants include restrictions that limit our ability to incur additional debt, pay dividends, or redeem or repurchase our capital stock; create liens or negative pledges with respect to our assets; and to merge, consolidate or sell our assets |
| In addition, some of our loan agreements contain financial covenants that require us to comply with specified financial ratios and tests relating to fixed charge coverage and minimum working capital and tangible net worth levels |
| Total outstanding obligations subject to these covenants was dlra75cmam000 at May 31, 2006 |
| Our failure to meet these financial covenants could result in default under these loan agreements and would result in a cross-default under other loan agreements |
| In the event of a default and our inability to obtain a waiver of the default, all amounts outstanding under loan agreements could be declared immediately due and payable |
| The effect of these covenants, or our failure to comply with them, could adversely affect our results of operations and financial condition |
| We are subject to significant government regulation and may need to incur significant expenses to comply with new or more stringent governmental regulation |
| The aviation industry is highly regulated by the FAA in the United States and the equivalent regulatory agencies in other countries |
| Before we sell any of our products that are to be installed in an aircraft, such as engines, engine parts and components, and airframe and accessory parts and components, they must meet certain standards of airworthiness established by the FAA or the equivalent regulatory agencies in other countries |
| We also operate repair stations that are licensed by the FAA and in some cases the equivalent regulatory agencies in other countries |
| Specific regulations vary from country to country, although regulatory requirements in other countries are generally satisfied by compliance with FAA requirements |
| Although we believe we comply with all applicable regulatory standards, these standards may change in the future, requiring our inventory to be modified or scrapped |
| New and more stringent governmental regulations may be adopted in the future that, if enacted, may have an adverse impact on us |
| If material licenses, authorizations or approvals were revoked or suspended by the FAA and in some cases the equivalent regulatory agencies in other countries, our results of operations and financial condition may be adversely affected |
| Acquisitions expose us to risks, including the risk that we may be unable to effectively integrate acquisitions |
| We explore and have discussions with third parties regarding possible acquisitions |
| Acquisitions involve risks including difficulties in integrating the operations and personnel of the acquired business, the potential amortization of acquired intangible assets, the potential impairment of goodwill and the potential loss of key employees of the acquired business |
| If we acquire one or more businesses, we may not be able to execute our operational, financial or integration plan of the acquired businesses, which could adversely affect our results of operations and profitability |
| 8 ______________________________________________________________________ Our industry is susceptible to product liability claims, and claims not adequately covered by insurance may adversely affect our financial condition |
| Our business exposes us to possible claims for property damage and personal injury or death which may result if an engine, engine part or component, airframe part or accessory or any other aviation product which we have sold, manufactured or repaired fails or if an aircraft in which our products are installed crashes and the cause cannot be determined |
| We carry substantial liability insurance in amounts that we believe are adequate for our risk exposure and commensurate with industry norms |
| However, claims may arise in the future, and our insurance coverage may not be adequate to protect us in all circumstances |
| Additionally, we can give no assurance that we will be able to maintain adequate insurance coverage in the future at an acceptable cost |
| Any product liability claim not covered by adequate insurance could adversely affect our results of operations and financial condition |
| We must comply with extensive environmental requirements, and any exposure to environmental liabilities may adversely affect us |
| Federal, state and local requirements relating to the discharge of substances into the environment, the disposal of hazardous wastes, and other activities affecting the environment have had and may continue to have an impact on our manufacturing operations |
| Compliance with environmental requirements and resolution of environmental claims have, in the past, been accomplished without material effect on our liquidity and capital resources, competitive position or financial condition |
| Management believes that our expenditures for environmental capital investment and any remediation necessary to comply with present regulations governing environmental protection, and other expenditures for the resolution of environmental claims, will not have a material adverse effect on our business, financial condition or results of operation |
| Management cannot assess the possible effect of compliance with future environmental requirements or of future environmental claims for which we may not have adequate indemnification or insurance coverage |
| If we were required to pay the expenses related to any future environmental claims for which neither indemnification nor insurance coverage were available, these expenses could have an adverse impact on our results of operations and financial condition |
| Additional information on environmental matters, including an administrative proceeding against one of our subsidiaries by the Michigan Department of Environmental Quality, is |