United States Federal Circuit

The Federal Acquisition Regulations allow a company to convert its depreciation cost from foreign currency into dollars at the historic exchange rate, and later convert dollars back at the current exchange rate, without creating a depreciation expense in excess of the recorded book value of the assets.

Appellate Information

• Decided 06/01/2001
• Published 06/06/2001

Judges

• MAYER, Chief Judge., Before MAYER, Chief Judge, PAULINE NEWMAN and RADER, Circuit Judges.

Court

• United States Federal Circuit

Counsel

• For Appellant:
  
• Glen D. Nager, Jones, Day, Reavis & Pogue, of Washington, DC, argued for appellant.   With him on the brief were Gregory G. Katsas and Jack W. Campbell, IV., David A. Churchill, McKenna & Cuneo, L.L.P., of Washington, DC, for amici curiae Ernst & Young, LLP and PricewaterhouseCoopers, LLP. With him on the brief were Kevin Condrin Dwyer, of Washington DC, and Kathy C. Weinberg, of Dallas, TX., Rand L. Allen, Wiley, Rein, & Fielding, of Washington, DC, for amici curiae AeroSpace Industries Association, et al.  With him on the brief were Scott M. McCaleb and Derek A. Yeo.


• For Appellees:
  
• James C. Caine, Trial Attorney, Commercial Litigation Branch, Civil Division, Department of Justice, of Washington, DC, argued for appellee.   With him on the brief were David M. Cohen, Director, and Robert E. Kirschman, Jr., Assistant Director.