Adjusted Annual Income From Operations definition

Adjusted Annual Income From Operations is defined as income from Sault Ste. Xxxxx operations excluding charges for interest and other financial expense, interest income, dividends on preferred shares, income taxes, extraordinary items, one-time and other special charges, adjusted for the effects of the Purchase Accounting adjustments required under generally accepted accounting principles as a result of the acquisition of the Company in June 2007. The Purchase Accounting adjustments affect the future amount of cost of sales, amortization expense, pension expense and post-employment benefit expense. It is intended that Adjusted Annual Income From Operations will remove the impact of these Purchase Accounting adjustments so that the amount of profit sharing is not affected by the accounting for the acquisition. It is understood that, for the purposes of determining Annual Adjusted Income from Operations, all transactions and other dealings with related companies, shall be accounted for at arm’s length. If the Union so requests, the Company shall pay for an independent auditor to verify the calculation of Adjusted Annual Income from Operations. Accounting principles used to calculate Adjusted Annual Income from Operations will be consistent. Accounting principles will be the same as those used in 2006 Audited Statements and generally accepted accounting principles. If accounting principles change such that there is a material effect on profit sharing, the Company is to inform the Union and there is agreement to amend the formula of the profit sharing plan or the determination of Adjusted Annual Income From Operations to offset the changes in accounting principles. Profit sharing payments will be paid on the basis of hours. The total amount of the Profit Sharing Pool will be divided by total hours to establish the hourly profit share. Individual profit sharing payments will be equal to the hourly profit share multiplied by individual’s hours. Hours shall be defined as: • straight time hours worked, • overtime hours worked, • out of bank hours, • vacations and statutory holidays, • jury duty, witness and bereavement leave, • leave for union business, • Union Executive, • members in receipt of sickness and accident benefits or salary continuance and Workers’ Compensation to a maximum of one year, • pregnancy and paternity leaves, • military and compassionate leaves. Any exclusions and inclusions in a signed letter, entitled “Profit Sharing Rules”, agreed to by Locals 2251 and 2724, on March 9, 2006 w...

Examples of Adjusted Annual Income From Operations in a sentence

Xxxxx operations adjusted for the effects of Purchase Accounting (“Adjusted Annual Income From Operations”) as outlined below: Adjusted Annual Income From Operations Profit Sharing Percentage On first $50 million 0% On income over $50 million to $100 million 6% On income over $100 million to $150 million 8% On income in excess of $150 million 10% Profit sharing will be made in two installments.

Related to Adjusted Annual Income From Operations

Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.
Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:
net non-operating income means the difference between:
Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:
Adjusted Revenue means revenue less Digital Platform Fulfilment Revenue.
Funds From Operations shall have the meaning determined from time to time by the National Association of Real Estate Investment Trusts to be the meaning most commonly used by its members.
Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.
total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;
Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.
Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.
Adjusted Income means, with respect to a HOME Development, the gross income from wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by HUD, adjusted for family size, minus the deductions allowable under 24 CFR §5.611.
Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.
Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.