Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Bad
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New words:
absolute, accuracy, Addressing, agility, AI, annuity, array, border, Canada, cancelling, communicated, communicating, communication, community, composition, Concurrent, deregister, deregistration, Disease, disrupted, disruption, distancing, earlier, engineering, enhance, enhanced, enhancement, ensure, expedient, experienced, exploit, faced, frequency, hold, hybrid, isolated, Justice, led, magnitude, March, matter, NewCo, nonrecourse, pending, pool, preservation, quantifying, quantum, redeem, redeemed, refocused, remote, remotely, safety, satisfying, shorter, skill, societal, stability, strength, summarize, tailored, tool, uncharted, undetected, unemployment, unknown, unprecedented, withdrawal, workplace
Removed:
absence, Absent, achieve, attempt, August, beginning, collectable, consolidation, content, dependency, floating, geographically, guaranteed, inability, influenced, Latin, lead, mainframe, pledge, portray, promised, protracted, prudent, refinance, refinancing, registration, repossessing, select, sharp, shelf, simplify, slowdown, sponsor, stable, stronger, subjected, weaker
Financial report summary
?Management Discussion
- Client Financing revenue of $976 million in 2020 decreased by $210 million, or 17.7 percent, as compared to 2019, driven by lower yields, a lower average asset balance and a decline in operating lease revenue of $66 million.
- Net margin decreased $28 million, or 4.4 percent, as compared to 2019, driven by a decline in revenue, partially offset by a decrease in interest expense of $129 million, and a decrease in depreciation expense of $54 million. The decrease in interest expense was mainly due to lower interest rates compared to the prior year.
- Pre-tax income decreased $46 million, or 10.6 percent, in 2020 as compared to 2019, driven by a higher provision for expected credit losses of $44 million and a decline in net margin, partially offset by an increase in gains on sales of equipment of $21 million and gains on sales of financing receivables of $20 million.