Accumulated Depreciation. With respect to any Railcar as of the date of determination, an amount equal to the aggregate amount of depreciation expense recorded with respect to such Railcar since the date of original acquisition by the Borrower, according to the Borrower’s depreciation policy as determined in accordance with GAAP and as depreciation policy may be modified in accordance with Section 9.14.
Accumulated Depreciation. With respect to Eligible Containers as of the date of determination an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the applicable Borrower, according to CAI’s depreciation policy as determined in accordance with GAAP.
Accumulated Depreciation. (345.0) (326.8) ------- ------- Net property, plant and equipment..... $ 256.4 $ 257.3 ======= ======= Note 7: Business Combinations and Divestitures On February 16, 2000, the Company acquired York International Corporation's Northfield Freezing Systems Group (Northfield) for $39.8 million in cash and the assumption of certain liabilities. Northfield, headquartered in Northfield, MN, is a manufacturer of freezers, coolers and dehydrators for the industrial food processing industry. The Company has recorded goodwill (to be amortized over 40 years) and other intangible assets totaling $41.6 million relating to the acquisition. Northfield's operations are included in the FoodTech segment. FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIARIES NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS (Unaudited)--(Continued) The Company also completed several smaller acquisitions, divestitures and joint venture investments during the nine months ended September 30, 2001 and 2000. Note 8: Asset Impairments and Restructuring and Other Charges In the third quarter of 2001, FMC Technologies recorded restructuring and tax charges of $6.3 million ($5.3 million after tax). The charges included $8.3 million of new reserves related to approximately 275 personnel reductions in certain FoodTech, Airport Systems and Energy Systems operations; a reduction of $2.0 million in certain specific reserves recorded in the first quarter of 2001 reflecting both favorable changes in the underlying businesses and adjustments to cost estimates; and a non-recurring income tax charge of $1.4 million related to the reorganization of the company's and FMC's worldwide entities in anticipation of the separation of the Company from FMC. In the first quarter of 2001, FMC Technologies recorded asset impairment and restructuring and tax charges of $10.5 million ($9.8 million after tax). An asset impairment of $1.3 million was required to write off goodwill associated with a small FoodTech product line, which the Company does not intend to develop further. Restructuring charges were $9.2 million, of which $5.2 million related to planned reductions in force of 91 individuals in the Energy Processing Systems businesses, $2.5 million related to planned reductions in force of 72 positions in the FoodTech businesses, and $1.5 million related to a planned plant closing and restructuring of an Airport Systems facility, including 73 planned workforce reductions. In addition, a non-recurring income tax charg...
Accumulated Depreciation. As a result of the capitalization of interest to property, plant and equipment required under United States GAAP described in (e) above, additional depreciation on the interest capitalized is recorded under United States GAAP in subsequent periods. As a result of conversion costs being expensed under United States GAAP, as described in (g) above, depreciation expense is reduced under United States GAAP in subsequent periods.
Accumulated Depreciation. With respect to any Eligible Container, as of the date of determination, an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the Borrower or the Guarantor, as applicable. The Accumulated Depreciation of Eligible Containers for the purpose of calculating the Borrowing Base shall be according to the depreciation policy of the Borrower or the Guarantor, as applicable, and shall comply with generally accepted accounting principles and, in any event, shall set forth all write-downs in the value of such Eligible Container.
Accumulated Depreciation. With respect to Eligible Containers as of the date of determination an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the Borrower, according to CAI’s depreciation policy. Administrative Agent’s Office. The Administrative Agent’s office located at Xxxxxxxxxxxx 000, 0000 XX Xxxxxxxxx, Xxx Xxxxxxxxxxx, or at such other location as the Administrative Agent may designate from time to time. Administrative Agent. ING Bank N.V., acting as administrative agent for the Lenders, and each other Person appointed as the successor Administrative Agent in accordance with §14.9.
Accumulated Depreciation. With respect to any Eligible Container, as of the date of determination, an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the Borrower or the Guarantor, as applicable. The Accumulated Depreciation of Eligible Containers for the purpose of calculating the Borrowing Base shall be according to the depreciation policy of the Borrower or the Guarantor, as applicable, and shall comply with generally accepted accounting principles and, in any event, shall set forth all write-downs in the value of such Eligible Container. Additional Lender. See §2.9.2. Administrative Agent’s Office. The Administrative Agent’s office located at 000 Xxxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxx 00000 or at such other location as the Administrative Agent may designate from time to time.
Accumulated Depreciation. With respect to Eligible Containers and Eligible Chassis as of the date of determination an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container or Eligible Chassis since the date of original acquisition by the applicable Borrower, according to CAI’s depreciation policy as determined in accordance with GAAP.
Accumulated Depreciation. As of any determination date with respect to an Eligible Container, an amount equal to the aggregate amount of depreciation expense recorded with respect thereto since the date of its original acquisition by the Borrower. For the purpose of calculating the Borrowing Base, depreciation expense will be determined using the depreciation policy utilized by TAL Group and the Borrower from time to time in preparing the consolidated financial statements of TAL Group so long as such depreciation policy complies with GAAP.
Accumulated Depreciation. Include accumulated depreciation on those assets included above at January 1 and December 31. Be sure to include the current year anticipated depreciation in calculating the ending accumulated depreciation.
