USITC Staff Report: Quartz Surfaces from India and Turkey staff report USITC | Page 127

Part VI: Financial experience of U.S. producers
Background
Eight firms provided usable financial data on their operations on quartz surface
products. *** reported financial results on quartz production. 1 *** reported financial results on
fabrication only. 2 *** accounted for the largest share of total combined sales quantity in 2019
(*** percent), followed by *** (*** percent), *** (*** percent), and the remaining firms
ranged from *** percent (***) to *** percent (***) of total net sales quantity. 3 For U.S.
producers, revenue primarily reflects commercial sales, but also includes transfers to related
firms and internal consumption. Internal consumption and transfers accounted for
approximately *** percent of total net sales quantity in 2019. Non-commercial sales for U.S.
producers are included but not shown separately in this section of the report. 4 For independent
U.S. fabricators, commercial sales accounted for *** reported quartz surface products revenue.
All firms reported a fiscal year end of December 31 and five firms reported their financial
results on the basis of generally accepted accounting principles (“GAAP”). 5
Staff conducted a verification of ***’s financial data in its U.S. producer questionnaire.
The verification adjustments were incorporated into this report. ***. 6
1
***. Emails from ***, February 24 and April 7, 2020. ***.
2
*** did not provide any financial data for these investigations. ***. Email from ***, March 2, 2020.
3
The term “combined” refers to the U.S. industry’s combined quartz production and fabrication
operations, as presented in tables VI-5, VI-6, and VI-7. Although this results in some degree of double
counting for the industry’s total sales, the effect is reflected in both revenue and costs and therefore
results in a reasonable presentation of the industry’s profitability during the period examined.
4
*** reported transfers to related firms, while *** reported internal consumption.
5
The companies with accounting bases other than GAAP are ***.
6
Staff verification report, ***, May 7, 2020.
VI-1