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We have updated our Technical Line to incorporate the SEC staff’s views on SAB 118 considerations for GILTI provisions as well as on the effects of the Act on after-tax hedging of foreign currency risk. This document also incorporates our views on SAB 118 and provides additional discussion on other accounting effects of the Act, including the views expressed by the FASB staff on the accounting for certain provisions of the Act. It also addresses the accounting implications for companies that use fiscal years that end on a date other than 31 December.