$C said its allowance for loan losses was $12.3Bil at 2Q16-end, or 1.96% of total loans, compared to $14.1Bil, or 2.25% of total loans, at 2Q15-end. Total non-accrual assets of $6.3Bil fell 6% from 2Q15. Consumer non-accrual loans declined 30% to $3.7Bil, while Corporate non-accrual loans of $2.5Bil increased $1.2Bil from the prior year period.
For 2017, $ENDP expects US Generics base business revenue decline to be similar to 2016 or in the low 30% range. Generics segment sales are expected to decline in the high-single to low-double digit range. In US Generics business, $ENDP estimates to realize approx. $75MM in annual net savings and launch at least 20 products in 2017.
$EQIX agreed for the purchase of ICT-Center AG, Zurich's data center operating business in Zurich, Switzerland for less than $5MM. The agreement was signed on Feb. 1, 2017 and the acquisition is expected to close sometime in early April 2017.