> Some things that stood out to me, changing depreciation rules to “magically” generate $770M in revenue.
Changing depreciation schedule has no impact on revenue. It only affects costs and therefore profit.
Changing depreciation schedule has no impact on revenue. It only affects costs and therefore profit.
Public companies can change their depreciation schedules at any time and accountants use that fact to change their "losses" in a way that is most beneficial to the company. Too much profit so have to pay taxes? Depreciate things faster. Not enough profit to appease the investors? Depreciate things more slowly.