▁to ▁calculate ▁an ▁Econom ic ▁P / E . ▁ ▁References ▁ ▁Further ▁reading ▁ ▁External ▁links ▁ ▁https :// d ws . com / en - gb / cap abilities / active / cro ci / the - cro ci - way / ▁Change ▁is ▁coming : ▁A ▁framework ▁for ▁climate ▁change ▁– ▁a ▁defining ▁issue ▁of ▁the ▁ 2 1 st ▁century ▁Work shop ▁V : ▁Rel ative ▁Val u ation ▁ ▁Category : Sto ck ▁market ▁Category : Fin an cial ▁r ati os <0x0A> </s> ▁The ▁ 2 0 1 4 ▁Pacific ▁h urr icane ▁season ▁was ▁an ▁event ▁in ▁the ▁annual ▁cycle ▁of ▁tropical ▁cy clone ▁formation . ▁It ▁officially ▁began ▁on ▁May   1 5 ▁in ▁the ▁eastern ▁Pacific — defined ▁as ▁the ▁region ▁east ▁of ▁ 1 4 0 ° W — and ▁began ▁on ▁June   1 ▁in ▁the ▁central ▁Pacific , ▁defined ▁as ▁the ▁region ▁west ▁of ▁ 1 4 0 ° W ▁to ▁the ▁International ▁Date ▁Line ; ▁both ▁ended ▁on ▁November   3 0 . ▁ ▁The ▁season ▁produced ▁twenty - three ▁tropical ▁de press ions . ▁All ▁but ▁one ▁further ▁intens ified ▁into ▁tropical ▁storm s ▁and ▁six teen ▁further ▁intens ified ▁to ▁become ▁h urr ican es , ▁which ▁broke ▁the ▁record ▁holding ▁the ▁most ▁number ▁of ▁h urr ican es ▁within ▁the ▁bas in ▁tied ▁with ▁the ▁ 1 9 9 0 ▁and ▁ 1 9 9 2 ▁seasons . ▁The ▁first ▁named ▁storm ▁of ▁the ▁season , ▁Am