Gary airport authority board updates minimum standards, hears comments on House bill
Members also heard multiple comments about an Indiana House bill targeting the makeup of the board.
The airport's minimum standards are requirements that must be met by businesses to provide services at the facility, according to the Aircraft Owners and Pilots Association.
'We advertised changes in the way that feeds are collected for landing and parking at the airport, and standardize how it's done, no matter where you are on the airfield,' Executive Director Dan Vicari said, adding that airport staff recommend for standard changes to be accepted.
Five members were present at the board meeting, with all approving the new standards. Changes include the definition of a based tenant, how fees will be assessed and how monthly fees are calculated.
Based tenants now include those who park their aircraft in an area leased by the authority to approved fixed-based operators that the Federal Aviation Administration considers 'validated inventory,' according to information from GCIA.
Aircraft that arrive at the airport will also now be assessed a landing fee, and if there for more than four hours, will receive a parking fee. Based tenants will not be assessed parking fees. GCIA will collect landing and parking fees.
Original minimum standards had operators pay a monthly fee by the 10th day of each month, but the new standards removed the deadline for monthly fees.
Airport board member Philip Mullins said the new standards keep GCIA competitive.
Multiple Gary residents also expressed concerns with House Bill 1001, which includes language that shifts appointments on the GCIA authority board, according to Post-Tribune archives. If passed, two appointments would be shifted from the Gary mayor to mayors of Crown Point and Hammond.
Four board members are currently appointed by the Gary mayor and governor, and Lake and Porter counties both appoint one person each.
Residents are concerned that Gary will lose representation and don't believe it's fair for the city. Bruce Curry said during public comment that if appointees will be taken from the mayor, two new board positions should be added.
'To take away is unacceptable in my eyes,' Curry told board members. 'What we're starting to see is that everybody wants to take things once they start going in the right direction.'
Curry believes circumstances are improving for Gary, including lower crime rates, so he doesn't understand why state officials would take away from the city.
Curry asked board members to tell state officials that the changes are unacceptable.
'If they want to add a couple and give us more funding in the budget, that's fine,' he said. 'But to take away is unacceptable.'
Robert Buggs also said he's concerned about House Bill 1001, and he said he's concerned appointees will be taken away when the airport is in a TIF district.
'This will be a financial hub,' Buggs told the board. 'We don't need anybody to come in and change the configuration of the board.'
Vicari was unable to comment about the bill following the board meeting. GCIA spokesman could not immediately respond to request for comment.
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Diluted $ 2.22 $ 2.05 $ 6.29 $ 6.52 Weighted average number of shares: Basic 798 826 807 829 Diluted 802 833 811 835 APPLIED MATERIALS, CONSOLIDATED CONDENSED BALANCE SHEETS (In millions) July 27,2025 October 27,2024 ASSETS Current assets: Cash and cash equivalents $ 5,384 $ 8,022 Short-term investments 1,630 1,449 Accounts receivable, net 5,772 5,234 Inventories 5,807 5,421 Other current assets 1,125 1,094 Total current assets 19,718 21,220 Long-term investments 4,133 2,787 Property, plant and equipment, net 4,124 3,339 Goodwill 3,748 3,732 Purchased technology and other intangible assets, net 238 249 Deferred income taxes and other assets 2,250 3,082 Total assets $ 34,211 $ 34,409 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt $ 799 $ 799 Accounts payable and accrued expenses 4,614 4,820 Contract liabilities 2,470 2,849 Total current liabilities 7,883 8,468 Long-term debt 5,463 5,460 Income taxes payable 330 670 Other liabilities 1,031 810 Total liabilities 14,707 15,408 Total stockholders' equity 19,504 19,001 Total liabilities and stockholders' equity $ 34,211 $ 34,409 APPLIED MATERIALS, CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In millions) Three Months Ended Nine Months Ended July 27,2025 July 28,2024 July 27,2025 July 28,2024 Cash flows from operating activities: Net income $ 1,779 $ 1,705 $ 5,101 $ 5,446 Adjustments required to reconcile net income to cash provided by operating activities: Depreciation and amortization 113 95 321 282 Share-based compensation 158 132 512 436 Deferred income taxes 280 (179 ) 952 (385 ) Other (284 ) 48 (298 ) (199 ) Net change in operating assets and liabilities 588 584 (1,458 ) 522 Cash provided by operating activities 2,634 2,385 5,130 6,102 Cash flows from investing activities: Capital expenditures (584 ) (297 ) (1,475 ) (783 ) Cash paid for acquisitions, net of cash acquired — — (29 ) — Proceeds from asset sale — — 33 — Proceeds from sales and maturities of investments 793 382 3,937 1,495 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12 Unrealized loss (gain) on strategic investments, net (314 ) 25 (288 ) (275 ) Foreign exchange loss (gain) related to purchase of strategic investment — — 23 — Loss (gain) on asset sale — — (44 ) — Income tax effect of share-based compensation2 7 8 1 (7 ) Income tax effects related to intra-entity intangible asset transfers3 32 17 738 57 Resolution of prior years' income tax filings and other tax items4 460 (11 ) 320 22 Income tax effect of non-GAAP adjustments5 (3 ) (4 ) (3 ) (2 ) Non-GAAP net income $ 1,989 $ 1,767 $ 5,875 $ 5,293 1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets. 2 GAAP basis tax benefit related to share-based compensation is recognized ratably over the fiscal year on a non-GAAP basis. 3 Amount for the nine months ended July 27, 2025, included changes to income tax provision of $94 million from amortization of intangibles and a $644 million remeasurement of deferred tax assets resulting from new tax incentive agreements in Singapore in the first quarter of fiscal 2025. 4 Amounts for the three and nine months ended July 27, 2025 included the impact of the recognition of a $410 million valuation allowance against deferred tax assets related to corporate alternative minimum tax credits. 5 Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes. APPLIED MATERIALS, RECONCILIATION OF GAAP TO NON-GAAP RESULTS Three Months Ended Nine Months Ended (In millions, except per share amounts) July 27,2025 July 28,2024 July 27,2025 July 28,2024 Non-GAAP Earnings Per Diluted Share GAAP reported earnings per diluted share $ 2.22 $ 2.05 $ 6.29 $ 6.52 Certain items associated with acquisitions 0.01 0.01 0.04 0.04 Acquisition integration and deal costs — — — 0.01 Realized loss (gain), dividends and impairments on strategic investments, net 0.02 0.01 (0.02 ) 0.01 Unrealized loss (gain) on strategic investments, net (0.39 ) 0.03 (0.36 ) (0.33 ) Foreign exchange loss (gain) related to purchase of strategic investment — — 0.03 — Loss (gain) on asset sale — — (0.04 ) — Income tax effect of share-based compensation 0.01 0.01 — (0.01 ) Income tax effects related to intra-entity intangible asset transfers1 0.04 0.02 0.91 0.07 Resolution of prior years' income tax filings and other tax items2 0.57 (0.01 ) 0.40 0.03 Non-GAAP earnings per diluted share $ 2.48 $ 2.12 $ 7.25 $ 6.34 Weighted average number of diluted shares 802 833 811 835 1 Amount for the nine months ended July 27, 2025, included changes to income tax provision of $0.12 per diluted share from amortization of intangibles and $0.79 per diluted share from a remeasurement of deferred tax assets resulting from new tax incentive agreements in Singapore in the first quarter of fiscal 2025. 2 Amounts for the three and nine months ended July 27, 2025 included a $0.51 per diluted share impact of the recognition of a valuation allowance against deferred tax assets related to corporate alternative minimum tax credits. APPLIED MATERIALS, RECONCILIATION OF GAAP TO NON-GAAP RESULTS Three Months Ended Nine Months Ended (In millions, except percentages) July 27,2025 July 28,2024 July 27,2025 July 28,2024 Semiconductor Systems Non-GAAP Operating Income GAAP reported operating income $ 1,966 $ 1,712 $ 5,852 $ 5,157 Certain items associated with acquisitions1 11 10 34 30 Non-GAAP operating income $ 1,977 $ 1,722 $ 5,886 $ 5,187 Non-GAAP operating margin 36.4 % 35.0 % 36.7 % 35.2 % Applied Global Services Non-GAAP Operating Income GAAP reported operating income $ 445 $ 467 $ 1,338 $ 1,320 Non-GAAP operating income $ 445 $ 467 $ 1,338 $ 1,320 Non-GAAP operating margin 27.8 % 29.6 % 28.1 % 28.8 % Display Non-GAAP Operating Income GAAP reported operating income $ 62 $ 16 $ 144 $ 46 Non-GAAP operating income $ 62 $ 16 $ 144 $ 46 Non-GAAP operating margin 23.6 % 6.4 % 20.4 % 6.8 %1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets. Note: The reconciliation of GAAP and non-GAAP segment results above does not include certain revenues, costs of products sold and operating expenses that are reported within corporate and other and included in consolidated operating MATERIALS, RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE Three Months Ended (In millions, except percentages) July 27, 2025 GAAP provision for income taxes(a) $ 784 Income tax effect of share-based compensation (7 ) Income tax effects related to intra-entity intangible asset transfers (32 ) Resolutions of prior years' income tax filings and other tax items (460 ) Income tax effect of non-GAAP adjustments 3 Non-GAAP provision for income taxes(b) $ 288 GAAP income before income taxes(c) $ 2,563 Certain items associated with acquisitions 11 Acquisition integration and deal costs 1 Realized loss (gain), dividends and impairments on strategic investments, net 16 Unrealized loss (gain) on strategic investments, net (314 ) Non-GAAP income before income taxes(d) $ 2,277 GAAP effective income tax rate(a/c) 30.6 % Non-GAAP effective income tax rate(b/d) 12.6 % UNAUDITED RECONCILIATION OF NON-GAAP FREE CASH FLOW Three Months Ended Nine Months Ended (In millions) July 27,2025 July 28,2024 July 27,2025 July 28,2024 Cash provided by operating activities $ 2,634 $ 2,385 $ 5,130 $ 6,102 Capital expenditures (584 ) (297 ) (1,475 ) (783 ) Non-GAAP free cash flow $ 2,050 $ 2,088 $ 3,655 $ 5,319 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
4 days ago
- Chicago Tribune
Indiana House Democrats join Texas House Democrats to stand against mid-decade redistricting
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