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Financial reporting and forecasting

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Overview

Bates White produces annual and quarterly estimates of companies’ potential asbestos and other tort liabilities to help clients ensure compliance with Sarbanes-Oxley, SEC, and other comprehensive reporting requirements. Our tailored forecasts eschew a one-size-fits-all approach and instead rely on a fact-driven, scenario-based method that produces robust and accurate results and includes a detailed assessment of important risks under various possible scenarios. Our analyses have proved valuable to publicly-traded and privately-held clients and have withstood scrutiny from a number of major creditors, insurance underwriters, and financial auditors.

Selected Work

  • Coauthored letters supporting the approximately $700m international legacy asbestos liability and related insurance valuations for the newly combined AMEC Foster Wheeler across different accounting frameworks.
  • Estimated the potential short-term asbestos liability for a major automotive products manufacturer. 
  • Provided financial reporting on asbestos liability expenditures—both gross and net of insurance recoveries—for Fortune 500 companies including Cooper Industries, EnPro, and Goodyear.
  • Improved the defense strategy of companies by applying our industry knowledge, data analysis, and predictive modeling to client-specific information.
  • Assessed the potential asbestos personal injury liability for companies such as a major investment firm and a major international real-estate developer.
  • Provided an estimate for the upper bound of the likely payments for a leading producer of analytical instruments.
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