The former is intended to compensate the host railway for depreciation of the fixed assets associated with use by other railways. |
The fixed costs, variable costs, the interest expense and depreciation are allowable deductions. |
Congress wished to prevent using depreciation to convert ordinary income into capital gains. |
Fixed exchange rates provided a source of constancy, and governments were no longer allowed to use competitive depreciations to promote exports. |
Initial stock market turmoil, currency depreciations, and oil price fluctuations are serious, but will probably stabilise in due course. |
Major negative influences were the continuous rise in the trade deficit and declining net investment, mainly due to the continuous rise in depreciations. |