Net Operating Loss (NOLs)
An income-averaging provision that allows companies with losses
to either carry forward the loss up to 15 years to offset
otherwise taxable future income, or carry back the NOLs up
to three years to receive a refund for taxes previously paid
(see FAS 109).
An alloying element used as a raw material for certain classes
of stainless steel. Nickel provides high degrees of ductility
(ability to change shape without fracture) as well as resistance
to corrosion. Approximately 65% of all nickel is used in the
making of stainless steel.
No. 1 Heavy Melt
Obsolete steel scrap grade, at least one-quarter inch in thickness
and in sections no larger than five feet by two feet. Much
of the metal comes from demolished buildings, truck frames
and heavy duty springs. Mini-mills are primary consumers of
No. 1 heavy scrap.