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The grant of the mission of Concepcion was about the first by the Spanish Government in Texas of which there is any record

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Elsevier BV: 486498.e7

These are calculations we know to be truths

ROE and ROCE Prior to the 2008 Altadis purchase, Imperials ROE was in the 100%-plus stratosphere: The exceptional ROEs back then were due to Imperials liabilities (mostly debt) almost equalling Imperials assets (mostly acquired intangibles) to leave relatively little in the way of shareholder equity: Post-Altadis, the gap between Imperials assets and liabilities has widened to create a larger shareholder equity base (red bars below)