Operating Segments. The measurement of profit or loss currently used to evaluate the results of operations for the Company and its operating segments is earnings before interest, taxes, depreciation and amortization ("EBITDA"). The Company defines EBITDA as operating income (loss) plus depreciation and amortization, non-cash general and administrative compensation charges, asset write-down charges and restructuring charges. EBITDA is not intended as an alternative measure of operating results or cash flow from operations (as determined in accordance with generally accepted accounting principles), and the Company's measure of EBITDA may not be comparable to similarly titled measures of other companies. There are no significant revenues resulting from transactions between the Company's operating segments. CROWN CASTLE INTERNATIONAL CORP. AND SUBSIDIARIES CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) The financial results for the Company's operating segments are as follows: Three Months Ended March 31, 2002 Corporate Crown Office Consolidated CCUSA CCAL CCUK Atlantic and Other Total (In thousands of dollars) Net revenues: Site rental and broadcast transmission......... $ 79,253 $ 5,013 $ 53,455 $ 22,543 $ -- $ 160,264 Network services and other................ 37,349 633 15,945 6,426 -- 60,353 116,602 5,646 69,400 28,969 -- 220,617 Costs of operations (exclusive of depreciation and amortization).......... 53,932 2,635 36,856 12,368 -- 105,791 General and administrative......... 13,229 1,261 1,727 1,737 3,834 21,788 Corporate development... -- -- -- -- 2,239 2,239 EBITDA.................. 49,441 1,750 30,817 14,864 (6,073) 90,799 Restructuring charges... -- -- 3,726 -- 2,126 5,852 Asset write-down charges................ 23,721 -- 431 7,789 -- 31,941 Non-cash general and administrative compensation charges... 532 -- 442 -- 340 1,314 Depreciation and amortization........... 44,244 3,186 13,473 10,269 543 71,715 Operating income (loss)................. (19,056) (1,436) 12,745 (3,194) (9,082) (20,023) Interest and other income (expense)....... (743) 162 (5,569) (19) 79 (6,090) Interest expense and amortization of deferred financing costs.................. (9,295) (826) (7,552) (4,650) (53,996) (76,319) Provision for income taxes.................. -- (88) (4,571) -- -- (4,659) Minority interests...... 819 704 -- 2,175 -- 3,698 Net loss................ $ (28,275) $ (1,484) $ (4,947) $ (5,688) $(62,999) $ (103,393) ========== ======== ========== ======== ======== ==...
Operating Segments. We manage our operations through three operating segments: Transportation, Facilities and Supply and Logistics. See “Revenue Recognition” in Note 2 for a summary of the types of products and services from which each segment derives its revenues. Our Chief Operating Decision Maker (“CODM”) (our Chief Executive Officer) evaluates segment performance based on measures including segment adjusted EBITDA (as defined below) and maintenance capital investment. The measure of segment adjusted EBITDA forms the basis of our internal financial reporting and is the primary performance measure used by our CODM in assessing performance and allocating resources among our operating segments. We define segment adjusted EBITDA as revenues and equity earnings in unconsolidated entities less (a) purchases and related costs, (b) field operating costs and (c) segment general and administrative expenses, plus our proportionate share of the depreciation and amortization expense and gains or losses on significant asset sales of unconsolidated entities, and further adjusted for certain selected items including (i) gains or losses on derivative instruments that are related to underlying activities in another period (or the reversal of such adjustments from a prior period), gains and losses on derivatives that are related to investing activities (such as the purchase of linefill) and inventory valuation adjustments, as applicable, (ii) long-term inventory costing adjustments, (iii) charges for obligations that are expected to be settled with the issuance of equity instruments, (iv) amounts related to deficiencies associated with minimum volume commitments, net of applicable amounts subsequently recognized into revenue and (v) other items that our CODM believes are integral to understanding our core segment operating performance. Segment adjusted EBITDA excludes depreciation and amortization. Maintenance capital consists of capital expenditures for the replacement and/or refurbishment of partially or fully depreciated assets in order to maintain the operating and/or earnings capacity of our existing assets. We look at each period’s earnings before non-cash depreciation and amortization as an important measure of segment performance. The exclusion of depreciation and amortization expense could be viewed as limiting the usefulness of segment adjusted EBITDA as a performance measure because it does not account in current periods for the implied reduction in value of our capital assets, su...
Operating Segments. Amendments to IAS 1 (2007) Presentation of Financial Statements: A Revised Presentation Amendment to IAS 23 Borrowing Costs Annex 1.5 / 1 Amendments to IAS 27 (2008) Consolidated and Separate Financial Statements Amendments to IAS 32 und IAS 1 Puttable Financial Instruments and Obligations Arising on Liquidation Amendments to IFRS 1 und IAS 27 Cost of an Investment in a Subsidiary, Jointly-Controlled Entity or Associate Amendment to IAS 39 Financial Instruments: Recognition and Measurement: Eligible Hedged Items Amendment to IAS 39 Reclassification of Financial Assets: Effective Date and Transition IFRIC 12 Service Concession Arrangements IFRIC 13 Customer Loyalty Programmes IFRIC 15 Agreements for the Construction of Real Estate IFRIC 16 Xxxxxx of a Net Investment in a Foreign Operation IFRIC 17 Distributions of Non-Cash Assets to Owners. The amendments made under the IASB’s Annual Improvement Project 2007 are similarly not required to be applied in 2008. The Management Board believes that the initial application of the above will have no material effect on the Company’s financial position, cash flows and liquidity or results of operations. Initial application of the revised IAS 1 will result in a modified presentation of, in particular, the income statement and statement of changes in equity. The annual financial statements are prepared in euros (EUR). All amounts are stated in thousands of euros (EUR’000) where not otherwise indicated. Amounts are rounded according to commercial practice. Additions or other calculations may contain rounding differences. The Company’s financial year is the calendar year. The annual financial statements have been prepared on the basis of the recognition of the assets and liabilities at amortized cost, except for derivative financial instruments, which are recognized at fair value at the reporting date. In the balance sheet, assets and liabilities are classified according to maturity. Assets and liabilities that are expected to be sold, used in the normal course of business or settled within twelve months are classified as current. Liabilities are treated as current if they are required to be settled within twelve months from the reporting date. The income statement is presented using the nature of expense method. Annex 1.5 / 2
Operating Segments. Operating Segments is requires the presentation and disclosure of segment information based on the internal reports regularly reviewed by the company’s chief operating decision maker in order to assess each segment’s performance and to allocate resources to those segments.
Operating Segments. This standard, effective from January 1, 2009, supersedes IAS 14 Segment Reporting. IFRS 8 places particular emphasis on internal reports that are regularly reviewed by the entity’s chief operating decision maker, requiring entities to prepare segment reporting on the basis of the elements used by management to take operating decisions. The introduction of IFRS 8 has led to a change in the way in which the Group presents this information, superseding the previous way of reporting this by primary segment (geographically) and secondary segment (by business). This has been done in order to present the data relating to the main groups which provide telephony services in a combined manner, providing details of their geographical location (Italy, Greece, Algeria, Pakistan, Egypt, Tunisia, Bangladesh, the Central African Republic and the Democratic People’s Republic of North Korea), as compared to the Group companies (belonging to OTH) which provide other services connected with and linked to the telephony business.
Operating Segments. (a) The Company’s operations shall be conducted through two distinct and separate operating segments: (i) the Class A Segment and (ii) the Class B Segment (each, individually, a “Segment” and, collectively, the “Segments”). As contemplated by Article 5 and elsewhere in this Agreement, and subject to Section 5.2, the Class A Segment shall be solely managed by the Class A Managing Member and the Class B Segment shall be solely managed by the Class B Managing Member. The business and activities of the Company that are applicable to both Segments, to neither Segment or to the Company as a whole shall be managed by both Managing Members, acting jointly, in accordance with Article 5 and elsewhere in this Agreement and are referred to herein as the “General Activities.”
Operating Segments. The Company's principal business is the manufacture of an extensive range of steel and wood office furniture products. Primary product lines include office furniture systems, seating, storage solutions, desk and casegoods, and interior architectural products. In addition, the Company also provides services and is engaged in non-furniture businesses, which include marine accessories and design, financial services and consulting services. The Company operates on a worldwide basis within three reportable segments, two of which are geographic furniture segments, and services and other businesses. In prior years, the Company has reported those two geographic furniture segments as being the U.S. and International/Canada combined. Due to the acquisition of the remaining 50% equity interest in Steelcase Strafor and the significant impact of this acquisition on the Company's consolidated financial statements, the Company has implemented a new reporting structure which focuses separately on North American and International furniture operations. North America includes the U.S., Canada and the Steelcase Design Partnership. International includes the rest of the world, with the major portion of the operations in Europe. Accordingly, prior year segment information presented below has been restated to reflect the new reporting structure. The Company evaluates performance and allocates resources based on operating income. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies included elsewhere herein. The following sets forth reportable segment data reconciled to the consolidated financial statements for the three years ended February 25, 2000, February 26, 1999 and February 27, 1998 (in millions): Office Furniture Services & --------------------------- Other 0000 Xxxxx Xxxxxxx International Businesses Eliminations Consolidated ---- ------------- ------------- ---------- ------------ ------------ --- --- Net sales............... $2,606.4 $721.5 $136.5 $(148.3) $3,316.1 Operating income........ 239.8 31.4 11.0 (10.4) 271.8 Total assets............ 1,678.2 679.2 680.2 -- 3,037.6 Capital expenditures.... 169.9 14.5 8.4 (4.0) 188.8 Depreciation & amortization........... 103.4 35.1 8.3 (5.0) 141.8 Office Furniture Services & --------------------------- Other 0000 Xxxxx Xxxxxxx International Businesses Eliminations Consolidated ---- ------------- ------------- ---------- ------------ ------------ ---...
