Total Revenues. Achieve total revenues, determined in accordance with GAAP, of not less than the amount shown below for the period corresponding thereto: ============================================================================== Period Minimum Total Revenue ============================================================================== the 6 month period ending on $47,900,000 December 31, 1998 ------------------------------------------------------------------------------ the 6 month period ending on March $56,100,000 31, 1999 ------------------------------------------------------------------------------ the 6 month period ending on June $70,300,000 30, 1999 ------------------------------------------------------------------------------ the 6 month period ending on $89,300,000 September 30, 1999 ------------------------------------------------------------------------------ the 6 month period ending on $110,100,000 December 31, 1999 ------------------------------------------------------------------------------ the 6 month period ending on March $126,800,000 31, 2000 ==============================================================================
Total Revenues. OPERATING COSTS AND EXPENSES 14 ------ 3,513 ------ 28 ------ 2,823 ------ 14 ------ 1,957 ------ Hotel property-level costs and expenses Rooms................................................. 524 428 313 Food and beverage..................................... 731 592 406 Other department costs and deductions................. 843 693 506 Management fees and other (including Marriott International management fees of $196 million, $162 million and $101 million, respectively)......... 726 649 461 Other................................................. 28 29 38 ------ ------ Total operating costs and expenses.................... 2,852 2,391 1,724 OPERATING PROFIT BEFORE MINORITY INTEREST, CORPORATE ------ ------ ------ EXPENSES AND INTEREST................................. 661 432 233 Minority interest...................................... (52) (31) (6) Corporate expenses..................................... (50) (45) (43) REIT conversion expenses............................... (64) -- -- Interest expense....................................... (335) (288) (237) Dividends on Convertible Preferred Securities of subsidiary trust...................................... (37) (37) (3) Interest income........................................ 51 52 48 INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME ------ ------ ------ Benefit from change in tax status...................... 106 -- -- ------ ------ INCOME (LOSS) FROM CONTINUING OPERATIONS............... 194 47 (13) DISCONTINUED OPERATIONS Income from discontinued operations (net of income tax expense of $4 million in 1998)........................ 6 -- -- Provision for loss on disposal (net of income tax benefit of $3 million in 1998)........................ (5) -- -- ------ ------ INCOME (LOSS) BEFORE EXTRAORDINARY ITEMS............... 195 47 (13) Extraordinary items--gain (loss) on early extinguishment of debt (net of income tax (benefit) expense of ($80 million) and $1 million in 1998 and 1997, respectively)......................................... (148) 3 -- ------ ------ NET INCOME (LOSS)...................................... $ 47 $ 50 $ (13) ====== ====== ====== BASIC EARNINGS (LOSS) PER COMMON SHARE: CONTINUING OPERATIONS.................................. $ .90 $ .22 $ (.06) Discontinued operations (net of income taxes).......... .01 -- -- Extraordinary items--gain (loss) on early extinguishment of debt (net of income taxes).......... (.69) .01 -- ------ ------ BASIC EARNINGS (LOSS) PER COMMON SHARE...............
Total Revenues. On or prior to July 1, 2000, the Purchaser shall deliver a certificate (the "Revenue Certificate") to the Company, signed by the president or chief accounting officer of the Purchaser and setting forth in reasonable detail the Total Revenues (as defined herein). If the amount of Total Revenues exceeds the Initial Cash Consideration, then the cash consideration payable under this Agreement shall be increased by an amount equal to the excess of (i) the Total Revenues over (ii) the Initial Cash Consideration (the "Contingent Payment"); provided, however, that in no event shall the sum of the Contingent Payment and the Initial Cash Consideration exceed $85 million (exclusive of any payments made or to be made in respect of Cure Payments). The Contingent Payment, minus the liquidated amount payable as set forth in clause (ii) of Section 1.3(c) of the Seller Disclosure Letter, shall be paid to the Company in cash simultaneously with the delivery of the Revenue Certificate.
Total Revenues. For the relevant period, the aggregate amount of all gross revenues derived from the operations of Forestar Group and its Subsidiaries, plus their pro rata share of operating revenues from unconsolidated Joint Ventures; provided that any “gain on sale” resulting from the contributions or other transfers of Real Estate to one or more Joint Ventures shall be considered revenues derived from the operations of Forestar Group and its Subsidiaries for the fiscal quarter in which such contributions or transfers occur so long as the structure of such Joint Venture has been approved by Agent, such approval not to be unreasonably withheld, conditioned or delayed.
Total Revenues. For the relevant period, the aggregate amount of all gross revenues derived from the operations of Forestar Group and its Subsidiaries (but excluding the revenues of the Credo Entities and from Multifamily Properties), plus their pro rata share of operating revenues from unconsolidated Joint Ventures; provided that any “gain on sale” resulting from the contributions or other transfers of Real Estate to one or more Joint Ventures shall be considered revenues derived from the operations of Forestar Group and its Subsidiaries for the fiscal quarter in which such contributions or transfers occur so long as the structure of such Joint Venture has been approved by Agent, such approval not to be unreasonably withheld, conditioned or delayed.
Total Revenues. CONTRACT DRILLING EXPENSE (2,025)--------- $ 885,349 ========= (8,174) --------- $ 659,436 ========= 6,149 -------- $225,913 ======== High Specification Floaters.............................. $ 122,809 $ 100,782 $ 22,027 Other Semisubmersibles................................... 224,346 213,015 11,331 Xxxx-ups................................................. 110,125 98,880 11,245 Integrated Services...................................... 7,138 22,328 (15,190) Eliminations............................................. Total Contract Drilling Expense.................. OPERATING INCOME (2,025)--------- $ 464,964 ========= (8,174) --------- $ 433,091 ========= 6,149 -------- $ 31,873 ======== High Specification Floaters.............................. $ 204,026 $ 111,218 $ 92,808 Other Semisubmersibles................................... 153,369 100,272 53,097 Xxxx-ups................................................. 64,373 20,005 44,368 Other.................................................... (2,024) (6,120) 4,096
Total Revenues. The term "Total Revenues" shall mean all income, revenue and proceeds in the broadest sense, resulting from the operation of the Managed Outlet and all of its facilities (net of rebates, refunds and overcharges of revenues not known at the time of sale but adjusted at a later date) which are properly attributable under the Uniform System to the period in question. Subject to Section 11.1B, Total Revenues shall include, without limitation, all amounts derived from:
Total Revenues. Income before income tax expense....... Net income............................. -- -------- $275,568 ======== $157,191 ======== $155,410 ======== 4,145 -------- $296,653 ======== $171,832 ======== $170,562 ======== 2,132 -------- $240,396 ======== $ 86,621 ======== $ 85,830 ======== 7,021 -------- $405,031 ======== $178,208 ======== $175,861 ======== Net income per share and share equivalent--basic..................... $ 1.84 $ 2.02 $ 0.94 $ 1.58 ======== ======== ======== ======== Net income per share and share 1997 Net premiums earned.................... $119,857 $129,817 $138,034 $152,965 Net investment income.................. 51,557 54,160 56,109 54,726 Realized gains (losses)................ 32,613 126,313 116,400 60,613 Equity in net income of affiliates..... 13,155 15,739 16,219 20,769 -------- -------- -------- -------- Total revenues......................... $217,162 $326,029 $326,762 $289,073 ======== ======== ======== ======== Income before income tax expense....... $110,711 $211,580 $207,438 $152,055 ======== ======== ======== ======== Net income............................. $108,118 $211,580 $206,560 $150,703 ======== ======== ======== ======== Net income per share and share Net income per share and share 18. Accounting Standards The Financial Accounting Standards Board ("FASB") issued SFAS No. 131, "Disclosures about Segments of an Enterprise and Related Information", effective for fiscal years beginning after December 15, 1997. This statement established standards for reporting information about operating segments in annual financial statements and requires selected information about operating segments in interim financial reports issued to shareholders. It also established standards for related disclosures about products and services, geographical areas and major customers. Under SFAS No. 131, operating segments are to be determined consistent with the way that management organizes and evaluates financial information internally for making operating decisions and assessing performance. The Company has not yet assessed the affect of the adoption of this accounting standard on its consolidated financial statement disclosures. FASB issued SFAS No. 132, "Employers' Disclosures about Pensions and Other Postretirement Benefits", effective for fiscal years beginning after December 15, 1997. This Statement revises employers' disclosures about pensions and other postretirement benefit plans. This standard is expected to have a minimal impact on the ...
Total Revenues. The Borrower will maintain Total Revenues of the Borrower and the Subsidiaries for each three-month period ending on the last day of each month in the calendar year 1999 set forth below equal to or greater than 93% of the amount set forth opposite such month. Quarterly Total Revenues June $6,750,000 September $6,878,000 December $7,059,000"
8. Section 6.19.5 of the Credit Agreement is hereby restated in its entirety to read as follows:
Total Revenues. 13 1.45 Unforeseen Expenses . . . . . . . . . . . . . . . . . . . . . 13 1.46 Units . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
