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Digital India: agencies ought to assist employees to make paperless expense claims With the remarkable variety of americans working from home, 2020 has became out to be a watershed 12 months for agencies to control worker productivity. whereas we surprise at the maturity of cloud features and digital applied sciences that have enabled this large migration of labor from office to home, many business approaches and policies remain ancient world, paper primarily based and manual, certainly administrative and finance ones. Such administrative and finance processes, principally price claims and invoice processing, are obligatory however take up plenty of the employee’s time which can otherwise be used to deliver extra significant work. This inflicts huge expenses on organizations and the economic climate and motives frustration for the personnel on the same time. decent employees are difficult to return by means of and companies may still do their most beneficial to continue them. however, the inflammation that Indian personnel are reportedly feeling, stems from the fact that most cost claims systems don’t seem to be supportive of the regular practices they observe in their every day lives, corresponding to making cashless transactions with cellular wallets and tremendous apps (umbrella apps containing different apps). pretty much half of the employees in India (49%), are expecting their enterprises to reduce the unproductive time they spend on managing costs and better support the digital work and lifestyles they’re aware of nowadays as per a SAP Concur look at in can also 2020 – Finance within the New World of labor massive hole in economic Transformation in India. The analyze indicates that while many organisations have embarked on digital transformation over the ultimate few years, many organizations still handle fee claims manually. here is in all probability unsurprising considering the fact that digital transformation has tended to center of attention on excessive-profile initiatives And prosaic features like cost administration might quite simply have been left out. a major 36 percent of respondents in India say they post charges manually by way of filling out a form and enclosing actual receipts. the sort of manual system is tedious, error susceptible, and sick-applicable to the up to date digital place of work. Little over half (fifty three%) of the respondents use a semi-automated device, the place they key within the rate declare gadgets digitally however enclose actual or scanned receipts. most effective 11 p.c of respondents have a fully automated, intelligent cost claim answer. moreover, employees and executives spend quite a lot of time submitting and reviewing or approving claims, that tremendously affects their company productiveness. employees spend a regular of 6.1 hours per thirty days filing price claims, or half a typical workday. Managers have it worse – they spend 7.3 hours reviewing and approving expense claims, plus one more 6.1 hours submitting their personal claims. This time truly adds up. The analyze used foreign Labour firm (ILO) records to calculate that saving just 10 p.c of the time spent on filing and approving claims would translate to $2.25 billion of expertise GDP earnings profit for India every yr, assuming all of the misplaced hours are diverted to productive work. beyond the tediousness and inefficiencies, the look at additionally found that current rate administration systems’ help for up to date charge methods is insufficient. greater than a third (39%) of respondents say they need their cost management software to be capable of integrate with exterior apps to allow added performance like repayment of payments made via tremendous apps. there’s also clear potential for cellular wallets to develop into a more dominant price mode for enterprise purchases, for the reason that mobile wallets had been found to be a tremendously extra favourite charge mode for private purchases, vis-à-vis enterprise purchases. worker delight Linked with Finance and Administrative processes more than three-fourths (79%) of the Indian respondents made a very powerful hyperlink between their common experience of finance and administrative strategies to their usual pride of working for their employer. around one-third (34%) of workplace workers are under satisfied with their firm’s existing price claims method. around 29% feel the identical about their price administration utility. employees are looking to be in a position to speed up the whole cost declare process; replenish fee line objects progressively over the month and have them consolidated automatically into an fee record; and post expenses anytime and anywhere by the use of cellular apps, in that order of precedence. Managers want to be able to spend less time reviewing and approving cost claims; discover expense and receipt statistics for fraud, blunders and policy violations earlier than reimbursements; and review and approve expenses via laptops and PCs, in that order of priority. Automation and Digital Adoption – A ought to for Indian businesses as the world starts to normalise, agencies will trade their focal point – from disaster, to healing, to growth and resiliency. in the coming months, firms will re-suppose and in lots of cases, re-invent, the way they run. efficiency, agility, and the means to innovate are going to be extra critical than ever and automation could be relevant to helping organisations achieve these three qualities. Automation takes repetitive, guide facets out of routine finance and administrative tasks, saving employees time so that it will center of attention on meaningful work. It additionally saves time for the finance crew by means of casting off forms and detecting inaccurate or fraudulent claims. i’m extremely joyful at how a lot more beneficial automation is, at presenting visibility and control and driving compliance. manual reporting techniques are inherently opaque − the shortcoming of integration between methods makes it unimaginable to tune spending conveniently, to manipulate regulatory compliance, or to implement simple guidelines. modern automated solutions additionally include digital and mobile functionalities, and broader integration with the realm’s fee platforms, to raise employee event and pride. All in all, digitalisation may be a must have to building a finance corporation that may basically assist the business in providing price to consumers, enabling it to become extra resilient for the new period. As we appear forward, lets exchange the video game, and not have the video game exchange us. Mankiran Chowhan is Managing Director — Indian Subcontinent, SAP Concur. Views expressed are the author’s own. Get are living stock costs from BSE, NSE, US Market and newest NAV, portfolio of Mutual funds, calculate your tax by means of revenue Tax Calculator, recognize market’s good Gainers, true Losers & most desirable equity funds. Like us on facebook and comply with us on Twitter. fiscal express is now on Telegram. click on right here to be part of our channel and dwell up-to-date with the newest Biz news and updates. Fluor experiences Full 12 months 2019 consequences IRVING, Texas–(enterprise WIRE)–Fluor agency (NYSE: FLR) today announced fiscal results for its yr ended December 31, 2019. consequences for 2019 were a web loss from continuing operations of $1.7 billion, or $eleven.ninety seven per diluted share, in comparison to profits from carrying on with operations of $9 million, or $0.07 per share for 2018. The internet loss brought on by Fluor contains impairment, restructuring and other exit charges of $533 million, prices of $138 million concerning the contract of the U.k. pension plan and $731 million concerning establishing valuation allowances to reduce internet deferred tax belongings. Consolidated segment loss for the 12 months turned into $386 million compared to a earnings of $323 million in 2018. income of $14.3 billion in 2019 from continuing operations compares to $15.2 billion in the prior 12 months. Full 12 months new awards from continuing operations and executive were $12.6 billion, and ending consolidated backlog was $31.9 billion. corporate G&A prices for 2019 were $159 million, up from $118 million a 12 months ago essentially because of the outcomes of international transactional good points and losses. Fluor’s money and marketable securities at the conclusion of 2019 was $2.0 billion. throughout 2019, Fluor paid $118 million in dividends. effects of Board Investigation as the business up to now introduced, a special committee of unbiased participants of the Board of administrators led a evaluate of its in the past issued economic advice and decided there have been fabric venture-connected mistakes because of the absence of well timed attention of adjustments in forecasted task expenses, and from different blunders in estimating the quantity of variable consideration to be covered in earnings for the Radford task. as a result, Fluor has restated annual financial results for 2016, 2017, and 2018, and for each of the intervening time in the past issued quarterly durations for 2018 and 2019. moreover, the restated financial statements encompass other quantitatively immaterial alterations to those annual periods. These alterations decreased cumulative pretax salary suggested via September 30, 2019, through $three.8 million. The particular committee, together with its unbiased exterior advisors and fiscal specialists, had full access to the business’s personnel and documentation and determined the scope of its evaluate. The investigation blanketed document collection and interviews throughout all Fluor EPC segments including each home and international. The quantity of initiatives reviewed represents a majority of the company’s lump-sum portfolio. additionally, the business decided that its disclosure controls and strategies had been not beneficial due to the existence of fabric weaknesses. To address these weaknesses, Fluor’s remediation plan comprises personnel movements, extra mission monitoring procedures, improved information on venture forecasting ideas, updated equipment and templates to obtain greater standardization of venture-level documentation and reporting, and more desirable inside company practicing on required guidelines and approaches. “today’s filing marks the end result of a thorough assessment of the financial reporting on a major variety of our lump-sum tasks. We believe the findings of the special committee and are moving ahead with our remediation plan,” spoke of Carlos Hernandez, Fluor chief executive officer. “Fluor continues to have enormous liquidity and committed employees who are ready to address latest and future challenges.” Strategic update In September 2019, Fluor introduced movements intended to power improved cash era and de-possibility the portfolio. The enterprise has offered portions of its device apartment business and continues to growth on transacting AMECO, public-deepest partnership belongings and excess true property. moreover, the enterprise has suspended its dividend and is still on course to realize as a minimum $one hundred million in annual reductions via the end of the 12 months. Following on from final 12 months’s evaluate, Fluor has initiated a broader and more comprehensive analysis of our complete enterprise model. The aim is to reshape the company to address these days’s markets and to make sure future success. An advert-hoc two adult committee of the board has been formed to be an added resource to management and to give their concepts and capabilities within the upfront a part of this method. In increase of this new strategy, for the energy & chemicals phase the enterprise has decided that it is going to only pursue reimbursable or open-booklet lump-sum conversion engineering, procurement and building potentialities. The enterprise believes that competitively bid lump-sum tasks create a transactional market the place the allocation of risk isn’t as it should be distributed. Outlook The company has experienced a big shift in conclusion markets in 2020 pushed by means of volatility in commodity expenses and the world disruption from the COVID-19 pandemic. because of this, the company is suspending all in the past issued 2020 counsel. additionally, the company is offering updates on right here: As of the conclusion of August 2020, Fluor’s cash stability was $2.1 billion and the enterprise expects the cash steadiness to be about in that latitude in the course of the end of the 12 months. The enterprise continues to have ample liquidity to meet its operational and task needs and has no amounts drawn on the revolving loans beneath its committed credit score facilities. Fluor expects to file Q1 2020 consequences in the subsequent month, followed approximately four weeks later via Q2 2020 consequences with Q3 2020 results about 4 weeks after that. The business will cling its next call with the investment neighborhood together with the liberate of its Q3 results. enterprise Segments The energy & chemical substances segment stated a section lack of $ninety five million in 2019 compared to a profit of $335 million in 2018. segment profit in 2019 lowered enormously because of fees linked to forecast revisions on certain initiatives. revenue for 2019 turned into $5.eight billion, down from $7.7 billion within the old year. Full yr new awards in 2019 totaled $three.7 billion, compared to $10.6 billion in 2018. Ending backlog turned into $14.1 billion compared to $17.8 billion a year ago. The Mining & Industrial section said a section profit of $159 million, up from $94 million in 2018. Full 12 months revenue for the segment of $5.1 billion become up from $3.5 billion a yr in the past. results for the year mirror multiplied task execution activities for a couple of significant mining initiatives and the favorable decision of a longstanding consumer dispute. Full 12 months new awards in 2019 were $1.9 billion, and ending backlog become $5.four billion compared to $eight.9 billion a yr ago. The Infrastructure & vigor section stated a phase lack of $244 million in comparison to a loss of $30 million in 2018. Full year earnings for the segment became $1.four billion in comparison to $1.7 billion a 12 months ago. effects for 2019 encompass prices involving the settlement of three gasoline-fired energy initiatives and forecast revisions concerning a few infrastructure initiatives. Full 12 months new awards in 2019 had been $2.6 billion, and ending backlog for the section changed into $6.1 billion compared to $6.three billion a yr ago. The assorted functions phase, including certain retained AMECO operations, said a section profit of $15 million in 2019, in comparison to $69 million a year in the past. outcomes for 2019 replicate decreased volumes of larger-margin operations and protection activities. Full 12 months profits turned into $2.0 billion in comparison to $2.three billion in 2018. New awards totaled $2.2 billion for 2019, and ending backlog was $2.5 billion, up from $2.three billion a year ago. The different phase, which is created from NuScale and the Radford and Warren executive tasks, mentioned a full 12 months section loss of $220 million, in comparison to a lack of $one hundred forty five million a year in the past. effects for the year consist of NuScale charges of $sixty six million. Discontinued Operations all over the third quarter of 2019, administration introduced a plan to sell the business’s executive and AMECO equipment companies. The results of the government and AMECO businesses were introduced as earnings from discontinued operations for all intervals presented in its 2019 10-okay. In February 2020, Fluor announced its intention to maintain the government business, and will reflect its monetary counsel in carrying on with operations beginning with the first quarter of 2020. consequences from discontinued operations for 2019 were a internet profit of $154 million, or $1.10 per diluted share, compared to $164 million, or $1.17 per diluted share a yr in the past. outcomes for the fourth quarter mirror an $89 million favorable settlement concerning a achieved venture. New awards totaled $2.0 billion for the yr together with a contract for the Hanford critical Plateau Cleanup Contract for the branch of energy. Ending backlog became $3.6 billion, in comparison to $four.4 billion a 12 months in the past. conference name Fluor will host a convention call at eight:30 a.m. jap time on Friday, September 25, which could be webcast live on the cyber web and might be accessed through logging onto investor.fluor.com. The call will also be purchasable by using cell at 888-204-4368 (U.S./Canada) or +1 323-994-2093. The conference identification is 3597615. A supplemental slide presentation may be attainable presently before the call begins. A replay of the webcast will be attainable for 30 days. A replay of the name can be attainable through telephone for one week. click right here to register for the replay. For greater counsel including restated economic tables, please see 2019 kind 10-k filed prior these days. Non-GAAP economic Measures This press unencumber carries a dialogue of consolidated section earnings (loss) from continuing operations that would be deemed a non-GAAP monetary measure below SEC guidelines. section income (loss) is calculated as income less can charge of income and salary because of noncontrolling pastimes apart from: company time-honored and administrative price; impairment, restructuring and other exit charges; activity price; hobby salary; home and international income taxes; different non-working revenue and fee objects; and revenue from discontinued operations. The company believes that consolidated phase profit (loss) from carrying on with operations offers a meaningful standpoint on its enterprise results as it is the aggregation of particular person phase income (loss) measures that the enterprise makes use of to consider and manipulate its business efficiency. A reconciliation of consolidated phase profit (loss) from carrying on with operations to revenue (loss) from carrying on with operations earlier than taxes is protected in the press unlock table. About Fluor agency Fluor agency (NYSE: FLR) is a global engineering, procurement, fabrication, construction and preservation company with initiatives and offices on six continents. Fluor’s 45,000 personnel build an improved world by designing, constructing and conserving secure, well-performed, capital-efficient tasks. Fluor had income of $14.3 billion in 2019 and is ranked 181 among the many Fortune 500 organizations. With headquarters in Irving, Texas, Fluor has served its shoppers for greater than 100 years. For more counsel, please talk over with www.fluor.com or observe Fluor on Twitter, LinkedIn, fb and YouTube. forward-looking Statements: This liberate may additionally comprise ahead-searching statements (together with with out hassle statements to the impact that the enterprise or its management "will," "believes," "expects," "plans," "proceed" is "located" or other similar expressions). These ahead-searching statements, including statements regarding our expectations as to the filing of our quarterly stories on form 10-Q, strategic and operation plans, and projected cash balances and liquidity are in line with present management expectations and involve dangers and uncertainties. specific results might also vary materially as a result of a few elements, including, among different issues, the severity and length of the COVID-19 pandemic and actions by means of governments, corporations and people based on the pandemic, together with the length and severity of economic disruptions; the cyclical nature of most of the markets the company serves, including the enterprise’s energy & chemical substances segment; the enterprise’s failure to get hold of new contract awards; charge overruns, undertaking delays or other problems bobbing up from project execution actions, including the failure to satisfy can charge and agenda estimates; failure to remediate fabric weaknesses in our inner controls over fiscal reporting or the failure to preserve a fantastic device of internal controls; failure to prepare and timely file our periodic stories; the restatement of definite of our in the past issued consolidated monetary statements; extreme competitors within the industries by which we function; failure to obtain favorable consequences in current or future litigation and regulatory lawsuits, dispute decision lawsuits or claims, including claims for further costs; failure of our three way partnership or other companions, suppliers or subcontractors to function their responsibilities; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope changes to, latest contracts; failure to maintain protected worksites and overseas security hazards; hazards or uncertainties associated with activities outside of our control, together with climate situations, pandemics, public health crises, political crises or different catastrophic routine; using estimates and assumptions in preparing our economic statements; client delays or defaults in making funds; the failure of our suppliers, subcontractors and other third parties to properly perform services under our contracts; the business’s failure, or the failure of our brokers or companions, to conform to laws; risks related to our indebtedness; the availability of credit and restrictions imposed with the aid of credit amenities, both for the business and our customers, suppliers, subcontractors or other partners; possible obstacles on bonding or letter of credit score potential; failure to efficaciously enforce our strategic and operational initiatives; dangers or uncertainties associated with acquisitions, dispositions and investments; risks coming up from the inability to correctly combine got groups; the inability to employ and preserve certified personnel; the expertise impact of certain tax matters; possible information know-how interruptions or inability to offer protection to highbrow property; new or altering felony necessities, together with these concerning climate alternate and environmental, health and protection matters; the company’s capacity to comfortable applicable coverage; liabilities linked to the efficiency of nuclear features; international currency risks; the lack of one or a few purchasers that account for a significant portion of the company’s revenues; hurt to our popularity; failure to adequately offer protection to intellectual property rights; and asset impairments. caution need to be exercised in counting on these and different forward-looking statements. as a result of generic and unknown risks, the enterprise’s results may also vary materially from its expectations and projections. additional information concerning these and other components will also be found in the business’s public periodic filings with the Securities and exchange commission, together with the dialogue beneath the heading "merchandise 1A. possibility elements" in the enterprise’s form 10-k filed on September 22, 2020. Such filings are available either publicly or upon request from Fluor’s Investor relations department: (469) 398-7222. The enterprise disclaims any intent or responsibility apart from as required by way of legislation to replace its forward-looking statements in light of latest suggestions or future hobbies. summary FINANCIALS AND U.S. GAAP RECONCILIATION OF CONSOLIDATED phase profit (in thousands and thousands) As Restated 12 months ENDED DECEMBER 31 2019 2018 2017 salary energy & chemical compounds $ 5,823.7 $ 7,695.5 $ 8,568.5 Mining & Industrial 5,057.2 3,491.0 2,100.9 Infrastructure & vigour 1,370.four 1,668.0 1,810.0 diverse features 2,040.1 2,257.2 2,295.four different fifty six.6 60.eight 31.7 income $ 14,348.0 $ 15,172.5 $ 14,806.5 segment income (loss) $ and margin % power & chemical substances $ (ninety five.0 ) (1.63 )% $ 334.5 4.35 % $ 428.2 5.00 % Mining & Industrial 158.5 3.13 % 94.three 2.70 % 87.8 4.18 % Infrastructure & vigor (243.9 ) (17.eighty )% (30.1 ) (1.eighty )% (271.0 ) (14.ninety seven )% different functions 14.6 0.seventy two % sixty eight.7 three.04 % 83.6 3.64 % other (220.1 ) NM (a hundred and forty four.7 ) NM (115.four ) NM complete segment earnings (loss) $ and margin % $ (385.9 ) (2.sixty nine )% $ 322.7 2.13 % $ 213.2 1.44 % corporate time-honored and administrative rate (159.1 ) (118.four ) (183.7 ) Impairment, restructuring and different exit costs (532.6 ) — — Loss on pension settlement (137.9 ) (21.9 ) (0.2 ) hobby cost, web (19.7 ) (forty one.0 ) (forty.0 ) profits (loss) brought on by NCI from continuing operations (41.5 ) 46.6 sixty four.5 income (loss) from continuing operations earlier than taxes (1,276.7 ) 188.0 fifty three.8 salary tax rate (advantage) (441.0 ) (132.3 ) (16.four ) internet profits (loss) from continuing operations $ (1,717.7 ) $ 55.7 $ 37.four New awards energy & chemical substances $ three,724.1 $ 10,641.4 $ three,950.0 Mining & Industrial 1,861.9 8,696.1 2,277.eight Infrastructure & vigour 2,608.7 2,066.0 1,525.three varied services 2,217.2 2,138.5 2,007.0 other 152.2 — — total new awards $ 10,564.1 $ 23,542.0 $ 9,760.1 Backlog energy & chemicals $ 14,128.9 $ 17,834.5 $ 15,110.three Mining & Industrial 5,384.0 eight,889.three 3,634.9 Infrastructure & vigor 6,079.4 6,344.4 5,915.three assorted features 2,541.6 2,282.9 2,451.0 different 244.0 252.4 237.8 total backlog $ 28,377.9 $ 35,603.5 $ 27,349.three New awards involving projects determined outside of the U.S. 54% eighty% 53% Backlog regarding projects found outside of the U.S. 74% 78% sixty three% NM = not meaningful Slack wants to make life less demanding for far off teams with its 5 new Workflow Builder templates did you know Tamar Yehoshua, Slack‘s Chief Product Officer, is talking at TNW2020 this year? check out their session on ‘Human-centricity: constructing products with clients’ right here. elements affecting our work settings and daily lives could be beyond our control in the meanwhile, but we can form how we adapt and enhance the style we work together while keeping our teams protected and match. (We should comprehend – we simply had to do the equal issue ourselves.) That’s why we’ve created 5 new templates for Workflow Builder, a visual device that allows for any Slack consumer to automate hobbies techniques. From streamlining requests to gathering feedback, these templates are designed to make remote work suppose like enterprise as usual. speakme of constructing work more straightforward, we have simply released a more organized Slack. you can find customized workflows for any channel via clicking the lightning bolt icon on the backside left of your message field. replace teammates for your fame When every person is working from diverse areas, be it a living room couch or a distinct time zone, it keeps everyone in the loop without adding to their notifications. With this workflow, team participants can conveniently comprehensive a kind to let others comprehend the place they’re working from. The form response is immediately sent to the channel, so team individuals and bosses can effortlessly hold song of 1 one more. Get your repute replace template. Approve requests right now filing and approving requests may also be a cumbersome manner even when you’re in the office. This workflow provides a customizable template so that you can with no trouble track and approve employee requests equivalent to prices or travel. have you ever introduced a new request coverage and wish to replace your template? you can edit your workflow in barely just a few clicks. Get your request approval template. Remind your crew to take breaks Working from domestic tends to blur the boundaries between our personal and expert lives. You may additionally find yourself hunched on the sofa for one too many hours or eating lunch at dinnertime. This workflow sends your group scheduled reminders to engage in in shape habits, such as stretching, ingesting some water or taking a short walk. day by day at a chosen time, a message is posted in a channel of your alternative with a reminder to take a smash and practice some self-care. (while studying this now, do you know that you just haven’t taken a damage in a few hours? right here’s your reminder to take a richly deserved day out.) Get your match dependancy reminder template. Kick off day by day huddle reminders in-channel When everyone is working from diverse areas, every day huddles are standard for protecting the team aligned. in its place of keeping video meetings to record your priorities and blockers, huddles can take place in Slack channels – and we now have a template for that. [Read: These tech trends defined 2020 so far, according to 5 founders] Use this template to send an everyday reminder to a group or assignment channel asking everyone to publish an update on their work. Encouraging americans to submit their reply in a thread keeps channels clear and uncluttered. Plus, you’ll have a searchable history of all and sundry’s projects, making certain that nobody is working on the same aspect – all vital to a clean transition to working remotely. Get your every day huddle reminder template. Get remarks, no assembly required Soliciting feedback out of your teammates may also be elaborate should you aren’t in the identical vicinity. This workflow makes it possible for groups to compile ongoing feedback, which frequently replaces the need for a proper meeting. It’s reasonably basic: install your workflow so that when somebody reacts to a message with the emoji of your choice, they’re sent step-by using-step directions – by means of a simple kind – for sharing their remarks. as soon as submitted, the grownup who at the beginning requested the remarks immediately receives new responses via direct message. are attempting this workflow if you’re gathering comments for a pitch deck, weblog publish, or design. Get your comments request template. this text changed into initially posted on Slack’s weblog by means of the Slack team. that you would be able to examine it right here. posted September 10, 2020 — 12:34 UTC.