Average ROIC for the Performance Period means the amount determined by dividing the sum of the ROIC for each fiscal year in the Performance Period by three (3).
Average ROIC means the Company’s average ROIC for the Performance Period, determined by adding the ROIC for each fiscal year during the Performance Period (based on a 52-week period commencing at the start of the fiscal year) and dividing by three.
Average ROIC means the average annual percentage return on invested capital in the Performance Period, excluding the Excluded Effects. The return on invested capital is calculated as follows. ROIC = (net operating profit after taxes) (average total assets) - (average excess cash) - (average non-interest-bearing current liabilities) The sum of the Award adjustments calculated in (i) and (ii) above will represent the final payout result under the Award. Notwithstanding the foregoing, the Compensation Committee may, in its sole discretion, disregard all or any part of any Excluded Effects when determining the Performance Results for the Performance Period.
Examples of Average ROIC in a sentence
If a Change of Control occurs subsequent to the last day of the Performance Period, but prior to calculation of ROIC, then PSUs shall be converted to RSUs only after such calculation(s), provided, however, in the event that the Company has failed to achieve the Minimum Three-Year Average ROIC for the Performance Period, then all PSUs shall be forfeited regardless of the Change of Control occurring after the end of the Performance Period.
Average ROIC will equal the sum of the three annual ROIC calculations during the Performance Period divided by three.
The Committee will certify Average ROIC and vest any earned Performance Shares as soon as administratively practical, but not later than the 90th day following the end of the Performance Period.
Any adjustment to Three Year Average Net Sales or the Three Year Average ROIC will be approved by the Management Development and Compensation Committee.
Up to <XX>% of the Performance Share Target Award may be earned upon achievement of the Average ROIC target for the Performance Period, in accordance with the following schedule.
More Definitions of Average ROIC
Average ROIC means the average annual percentage return on invested capital in the Performance Period, excluding the Excluded Effects. The return on invested capital is calculated as follows. ROIC = (net operating profit after taxes) (total assets) — (excess cash) — (non-interest- bearing current liabilities) Notwithstanding the foregoing, the Compensation Committee may, in its sole discretion, disregard all or any part of any Excluded Effect when determining the Performance Results for the Performance Period.
Average ROIC means the average annual percentage return on invested capital in the Performance Period, excluding the Excluded Effects. The return on invested capital is calculated as follows.
Average ROIC means the percentage equal to the average of the ROIC determined separately for each of the three fiscal years in the ROIC Performance Period.
Average ROIC means the Company’s cumulative ROIC for each of the three fiscal years of the Company during the ROIC Performance Period divided by 3 and (y) “ROIC” means, with respect to each fiscal year of the Company during the ROIC Performance Period, (A) the Company’s earnings before interest and taxes, as adjusted to exclude the impact of non-recurring items such as stock-based compensation, accounting changes, severance, fluctuations in currency
Average ROIC means the Company’s cumulative ROIC for each of the three fiscal years of the Company during the ROIC Performance Period divided by 3 and (y) “ROIC” means, with respect to each fiscal year of the Company during the ROIC Performance Period, (A) the Company’s earnings before interest and taxes, as adjusted to exclude the impact of non-recurring items such as stock-based compensation, accounting changes, severance, fluctuations in currency exchange and other non-recurring items divided by (B) the Company’s average invested capital, as determined by the Company’s book equity value in accordance with U.S. Generally Accepted Accounting Principles plus debt less cash and cash equivalents, as adjusted to exclude the impact of real estate transactions, lease obligations, stock-based compensation payments, acquisition costs and other non-recurring items. The Committee, in its sole discretion, shall establish the Threshold ROIC, Target ROIC and Maximum ROIC goals for each fiscal year during the ROIC Performance Period as soon as practicable following the commencement of such fiscal year and, following such determination, notify the Participant of such Threshold ROIC, Target ROIC and Maximum ROIC goals. Any and all determinations as to Average ROIC and ROIC shall be made by the Committee in its sole discretion and shall be final and binding on the Company and the Participant. (c) The Restricted Units shall vest in full on December 31, 2023, and one share of the Common Stock shall be distributed to the Participant for each vested Restricted Unit, provided that the Participant remains continuously employed by the Company through such date. (d) In the event of the termination of the Participant’s employment with the Company and all of its affiliates for any reason other than by the Company without Cause (as defined in Section 1.5 of the Equity Plan) or upon the Participant’s death or Disability (as defined in Section 1.12 of the Equity Plan), the unvested portions of the MSU Target Unit, ROIC Target Unit and Restricted Unit awards evidenced by this Agreement shall be immediately forfeited and cancelled. 3. In the event of the termination of the Participant’s employment with the Company and all of its affiliates by the Company without Cause or upon the Participant’s death or Disability, then the Participant (or the Participant’s beneficiary or legal representative) shall be entitled to receive, as soon as is practicable after the aforementioned triggering event, a pro rat...
Average ROIC means the sum of the Company’s Return on Invested Capital for each year of the Performance Period, calculated as the Company’s Adjusted Net Operating Profit After Tax divided by Average Invested Capital of each such year, divided by two, subject at all times to adjustment pursuant to Section 5.2 and the Plan.
Average ROIC means average ROIC for fiscal ____ and fiscal ____. ROIC will be calculated quarterly as follows and Average ROIC for the full fiscal year shall represent the average of the four quarterly calculations: Fiscal ____ ROIC: Numerator: Fiscal ____ operating Income x (1 - Tax Rate) Denominator: Fiscal ____ average quarterly invested capital. The quarterly invested capital is calculated as follows: (prior quarter-end Total Assets + current quarter-end Total Assets/2) - (prior quarter-end Current Liabilities + current quarter-end Current liabilities/2) - (prior quarter-end Cash + current quarter-end Cash/2) Fiscal ____ ROIC: Numerator: Fiscal ____ operating Income x (1 - Tax Rate) Denominator: Fiscal ____ average quarterly invested capital. The quarterly invested capital is calculated as follows: (prior quarter-end Total Assets + current quarter-end Total Assets/2) - (prior quarter-end Current Liabilities + current quarter-end Current liabilities/2) - (prior quarter-end Cash + current quarter-end Cash/2) Average ROIC is then calculated as follows: (Fiscal ____ ROIC + Fiscal ____ ROIC)/2 The foregoing calculation shall exclude the effect of any acquisitions in the fiscal year of the acquisition which may occur on or before the ROIC Measurement Date regardless of whether such acquisition takes the form of a merger, consolidation, asset purchase or stock purchase.