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Financial Analysis and Cost Forecasting
National

Financial Analysis and Cost Forecasting, National Client: Confidential

Hull partnered with a U.S. based international firm and global leader in aluminum rolled products and extrusions, aluminum recycling and alloy production. Hull provided assessment of environmental liabilities associated with ten sites (operating and non-operating) located in six states throughout the U.S., with an overall objective of preparing a report of probable and reasonably estimable future environmental remediation costs. Hull's financial analysis and cost forecasting is used by our Client in fulfilling their financial reporting obligations and evaluating and validating corporate accruals and reserves.

Consistent with its stated objective, Hull performed the following tasks:

• Formalized project specific ground rules for estimating future liabilities based on input from Client's accounting function, wherein aspects of current Securities and Exchange Commission (SEC), American Institute of Certified Public Accountants (AICPA), and Financial Accounting Standards Board (FASB) guidance and requirements for estimation of environmental remediation liability were considered;
• Held direct communications and interviews with Client personnel concerning remediation issues at each site, past liability estimates, documentation availability, etc.;
• Performed detailed reviews of all relevant documents provided by our Client pertaining to environmental remediation issues and requirements at each site.
• Telephone discussions were held with site personnel and environmental consultants on an as needed basis;
• Prepared estimates of probable and reasonable estimable future remediation costs for each site, including line item cost factors, timelines showing assumed future annual costs over the duration of remediation, and most likely and expected present value total cost estimates for each site; and
• Prepared a report documenting all findings, conclusions and estimates.

Due to its regulatory financial reporting obligations, Hull has provided our Client with liability assessment services on an annual basis, using the previous year's report to reflect year-on-changes to allow for effective tracking of changes and consistency in reporting.

To find out how Hull can help, please contact Hull's Environmental Market Leader, William Rish, Ph.D. at (614) 793-8777.