OPERATING ASSETS Definition

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OPERATING ASSETS are long-term, or non-current, assets acquired for use in the business rather than for resale; includes property, plant, and equipment; intangible assets; and natural resources.

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HARD COPY is a printed copy of information as opposed to information stored in computer readable form.

INVERSE FLOATING RATE is a security that has a fixed maturity with a coupon rate that is reset at a pre-specified amount, minus a given short-term rate or index, such as 18% minus the six-month LIBOR rate, or 30% minus three times the 30-day commercial paper composite rate. These instruments provide a way to hedge against lower short-term rates and/or a steeper yield curoe without extending the maturity. As short­term rates decline, the coupon rate increases.

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