Average Capital Employed definition

Average Capital Employed means the sum of Net Capital Employed as of December 31, 2006, December 31, 2007 and December 31, 2008, divided by three.

Average Capital Employed means Beginning Capital Employed plus Ending Capital Employed divided by two.

Average Capital Employed means the five (5) point average of the [prior] fiscal year end and the quarterly fiscal year [current] Capital Employed balances.

Examples of Average Capital Employed in a sentence

• Average Capital Employed shall be derived by adding the Company’s capital debt plus equity at the close of the last day of the year preceding the Performance Year to the Company’s capital debt plus equity at the close of the last day of the present Performance Year, with the resulting sum being divided by two.

• The impact on Earnings from Continuing Operations and on Average Capital Employed of one or more acquisitions with an aggregate purchase price of $300 million or more and of individual acquisitions with a purchase price of greater than $100 million shall be excluded for the calendar year in which the acquisition or acquisitions occur.

• ROACE = Return on Average Capital Employed = EBIT/Average Capital Employed.

• Average Capital Employed shall be derived by adding the Company's capital debt plus equity at the close of the last day of the year preceding the Performance Year, to the Company's capital debt plus equity at the close of the last day of the present Performance Year, with the resulting sum being divided by two.

• The Return on Capital shall mean the return produced by funds invested in the Company and shall be determined as Earnings from Continuing Operations, as defined in Section 2.11, divided by the Average Capital Employed.

More Definitions of Average Capital Employed

Average Capital Employed for any fiscal year shall mean the average of five (5) numbers consisting of the Capital Employed as of the last day of the fiscal year and as of the last day of the four preceding fiscal quarters. “Capital Employed” as of any date shall mean the Company’s total assets minus the sum of all of its liabilities other than debt for borrowed money and capital lease obligations, in each case as set forth on the consolidated balance sheet of the Company and its subsidiaries as of the applicable date.

Average Capital Employed means, for any Plan Year, the average monthly operating capital, but without deducting any reserves for asbestos-related claims, as determined by the Company following the close of the Plan Year.

Average Capital Employed means the average (over the Performance Period) of Capital Employed, based on monthly, quarterly, bi-annual or annual balances,each as determined by the Board for this purpose in its absolute discretion.

Average Capital Employed shall be the average of the beginning and the ending amount of “Capital Employed” during the applicable fiscal year, where “Capital Employed” shall mean the sum of Company total shareholders’ equity plus all long-term debt (including capitalized leases) and short-term debt (including bank debt and the current portions of long-term debt), less the amount of cash and cash equivalents, all as reported on the Financial Statements.

Average Capital Employed means, for any Plan Year, the average monthly invested capital for the year, calculated as the sum of (i) shareholders’ equity, (ii) short-term debt, (iii) long-term debt, (iv) the after-tax net reserves for asbestos-related claims, and (v) the after-tax net reserves relating to the Company’s Superfund site at Goodyear, Arizona, using a tax rate of 35 percent, less cash in excess of $25 million, as such amounts are set forth in the Company’s financial statements for the Plan Year.

Average Capital Employed means, for any fiscal year, the arithmetic mean of the Capital Employed at the opening of business on the first day of the fiscal year and at the close of business on the last day of each fiscal quarter ending within the fiscal year.

Average Capital Employed means for a given fiscal year during the Performance Measurement Period, the sum of the Company’s average beginning and ending: (i) accounts receivable; plus (ii) inventory; minus (iii) accounts payable; plus (iv) net fixed and intangible assets; plus (v) investments in Affiliates.