filings.toolsItem 16. Form 10-K Summary
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Item 16. Form 10-K Summary
Not applicable.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| JABIL INC. Registrant | ||
| By: | /s/ MARK T. MONDELLO | |
| Mark T. Mondello | ||
| Chief Executive Officer |
Date: October 22, 2019
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POWER OF ATTORNEY
KNOW ALL THESE PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mark T. Mondello and Michael Dastoor and each of them, jointly and severally, his or her attorneys-in-fact, each with full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each said attorneys-in-fact or his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated:
| Signature | Title | Date | ||||
| By: | /s/ TIMOTHY L. MAIN Timothy L. Main | Chairman of the Board of Directors | October 22, 2019 | |||
| By: | /s/ THOMAS A. SANSONE Thomas A. Sansone | Vice Chairman of the Board of Directors | October 22, 2019 | |||
| By: | /s/ MARK T. MONDELLO Mark T. Mondello | Chief Executive Officer and Director (Principal Executive Officer) | October 22, 2019 | |||
| By: | /s/ MICHAEL DASTOOR Michael Dastoor | Chief Financial Officer (Principal Financial and Accounting Officer) | October 22, 2019 | |||
| By: | /s/ ANOUSHEH ANSARI Anousheh Ansari | Director | October 22, 2019 | |||
| By: | /s/ MARTHA F. BROOKS Martha F. Brooks | Director | October 22, 2019 | |||
| By: | /s/ CHRISTOPHER S. HOLLAND Christopher S. Holland | Director | October 22, 2019 | |||
| By: | /s/ JOHN C. PLANT John C. Plant | Director | October 22, 2019 | |||
| By: | /s/ STEVEN A. RAYMUND Steven A. Raymund | Director | October 22, 2019 | |||
| By: | /s/ DAVID M. STOUT David M. Stout | Director | October 22, 2019 | |||
| By: | /s/ KATHLEEN A. WALTERS Kathleen A. Walters | Director | October 22, 2019 |
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SCHEDULE II
JABIL INC. AND SUBSIDIARIES
SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS
(in thousands)
| Balance at Beginning of Period | Additions and Adjustments Charged to Costs and Expenses | Additions/ (Reductions) Charged to Other Accounts | Write-offs | Balance at End of Period | ||||||||||||||||
| Allowance for uncollectible accounts receivable: | ||||||||||||||||||||
| Fiscal year ended August 31, 2019 | $ | 15,181 | $ | 15,867 | $ | — | $ | (13,827 | ) | $ | 17,221 | |||||||||
| Fiscal year ended August 31, 2018 | $ | 14,134 | $ | 12,545 | $ | — | $ | (11,498 | ) | $ | 15,181 | |||||||||
| Fiscal year ended August 31, 2017 | $ | 11,094 | $ | 6,255 | $ | — | $ | (3,215 | ) | $ | 14,134 | |||||||||
| Balance at Beginning of Period | Additions and Adjustments Charged to Costs and Expenses | Additions/ (Reductions) Charged to Other Accounts | Write-offs | Balance at End of Period | ||||||||||||||||
| Reserve for excess and obsolete inventory: | ||||||||||||||||||||
| Fiscal year ended August 31, 2019 | $ | 60,940 | $ | 34,091 | $ | — | $ | (25,478 | ) | $ | 69,553 | |||||||||
| Fiscal year ended August 31, 2018 | $ | 46,013 | $ | 35,538 | $ | — | $ | (20,611 | ) | $ | 60,940 | |||||||||
| Fiscal year ended August 31, 2017 | $ | 32,221 | $ | 46,030 | $ | — | $ | (32,238 | ) | $ | 46,013 | |||||||||
| Balance at Beginning of Period | Additions Charged to Costs and Expenses(1) | Additions/ (Reductions) Charged to Other Accounts(2) | Reductions Charged to Costs and Expenses(3) | Balance at End of Period | ||||||||||||||||
| Valuation allowance for deferred taxes: | ||||||||||||||||||||
| Fiscal year ended August 31, 2019 | $ | 223,487 | $ | 22,750 | $ | 58,117 | $ | (16,750 | ) | $ | 287,604 | |||||||||
| Fiscal year ended August 31, 2018 | $ | 285,559 | $ | 18,418 | $ | (886 | ) | $ | (79,604 | ) | $ | 223,487 | ||||||||
| Fiscal year ended August 31, 2017 | $ | 344,828 | $ | 65,300 | $ | (97,203 | ) | $ | (27,366 | ) | $ | 285,559 | ||||||||
| (1) | During the fiscal years ended August 31, 2019, 2018 and 2017, the additions charged to costs and expenses primarily relate to the increase of deferred tax assets for sites with existing valuation allowances. |
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| (2) | During the fiscal year ended August 31, 2019, the additions charged to other accounts primarily relate to the increase of net operating loss carry forwards due to the release of a non-U.S. unrecognized tax benefit. During the fiscal year ended August 31, 2017, the reductions charged to other accounts primarily relate to the decrease of net operating loss carry forwards due to non-U.S. unrecognized tax benefits and a non-U.S. tax audit. |
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| (3) | During the fiscal years ended August 31, 2019 and 2018, the reductions charged to costs and expenses primarily relate to the decrease of U.S. net operating loss carry forwards and tax credits due to utilization against the one-time transition tax as a result of the Tax Act. During the fiscal year ended August 31, 2019, an additional reduction charged to costs and expenses relates to the $17.5 million income tax benefit for the reversal of a U.S. valuation allowance due to an intangible asset reclassification from indefinite-life to finite-life. During the fiscal year ended August 31, 2017, the reductions charged to costs and expenses primarily relate to the release of certain non-U.S. valuation allowances. |
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See accompanying report of independent registered public accounting firm.
Previous: Item 15. Exhibits and Financial Statement Schedules