Consolidated Adjusted EBIT means, for any period of four consecutive fiscal quarters of the Parent Borrower, on a consolidated basis for the Parent Borrower and its Subsidiaries in accordance with Agreement Accounting Principles, the sum of the amounts for such period, without duplication, of (i) Consolidated EBIT, plus (ii) non-cash charges (other than depreciation and amortization expense) to the extent deducted in computing Consolidated Net Income, plus (ii) extraordinary losses incurred other than in the ordinary course of business to the extent deducted in computing Net Income, minus (iii) extraordinary gains realized other than in the ordinary course of business to the extent added in computing Net Income (iv) plus (minus) any increases (decreases) in the LIFO reserve to the extent deducted (added) in computing Net Income. “Consolidated Adjusted EBIT” for any period shall be calculated to be the actual amount for such period for the Parent Borrower and its Subsidiaries; provided, upon the consummation of any Acquisition, for calculations made from and after such Acquisition, Consolidated Adjusted EBIT shall be calculated on a pro forma basis including the target’s Consolidated Adjusted EBIT for the applicable period derived from the target’s historical financial statements, broken down by fiscal quarter in the Parent Borrower’s reasonable judgment (the amounts from which may be adjusted solely as may be necessary to comply with Agreement Accounting Principles).
Consolidated Adjusted EBIT means, in respect of the Borrower and its Subsidiaries on a consolidated basis, for any period, an amount equal to the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, (b) Consolidated Financing Expense and (c) provisions for taxes based on income but excluding (i) deferred gains and losses on business asset sales and divestitures, (ii) any after-tax prepayment penalties incurred with respect to the Capital Securities and the Existing Intercompany Obligations and (iii) non-recurring costs associated with the consummation of the Assurant IPO.
Consolidated Adjusted EBIT means, in respect of the Borrower and its Subsidiaries on a consolidated basis, for any period, an amount equal to (i) the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, (b) Consolidated Financing Expense, (c) provisions for taxes based on income and (d) other non-Cash items reducing Consolidated Net Income (excluding any such non-Cash item to the extent that it represents an accrual or reserve for potential Cash items in any future period or amortization of a prepaid Cash item that was paid in a prior period), minus (ii) other non-Cash items increasing Consolidated Net Income for such period (excluding any such non-Cash item to the extent it represents the reversal of an accrual or reserve for potential Cash item in any prior period).
Examples of Consolidated Adjusted EBIT in a sentence
Consolidated Adjusted EBIT, as defined by us, excludes the costs excluded from adjusted net income (loss) as well as income tax expense (benefit), interest charges, foreign currency (gain) loss, and items of other (income) expense.
The Adjusted indicators reported concern: Consolidated Adjusted EBIT, Consolidated Adjusted EBIT margin, Consolidated Adjusted Result before taxes and Consolidated Adjusted Free Cash Flow and (Net Financial Debt) / Net cash - Pursuant to IAS 17.
See section 4.2 for additional details.3 The Consolidated Adjusted EBIT Margin is the ratio of Consolidated Adjusted EBIT to revenues.
These indicators reflect the main operating and financial aggregates adjusted for non-recurring income and expenses not closely related to the core business and operations and the effect resulting from the change in the business model for extended warranty services (as better described below in the "Consolidated Adjusted EBIT" API) and thus allow for a more homogeneous analysis of the Group's performance over the periods presented in the Interim Directors’ Report.
The APIs reported (Consolidated Adjusted EBIT, Consolidated Adjusted EBIT margin, Adjusted Consolidated Profit (loss) for the period, Net Working Capital, Consolidated Adjusted levered Free Cash Flow and [Net debt]/ Net cash - under IAS17) are not identified as accounting measures in IFRS, therefore - as noted above - they shall not be considered as alternative measures to those provided in the Group's Consolidated Financial Statement to assess their operating performance and related financial position.
More Definitions of Consolidated Adjusted EBIT
Consolidated Adjusted EBIT for any period, with respect to the Borrower and its consolidated Subsidiaries, shall mean the sum of (a) Consolidated Net Income for such period, (b) Consolidated Adjusted Interest Expense for such period, (c) charges against income for foreign, federal, state and local income taxes for such period, (d) Consolidated Adjusted Rental Expense for such period, all as determined on a consolidated basis in accordance with GAAP.
Consolidated Adjusted EBIT for any period shall be calculated to be the actual amount for such period for the Borrower and its Subsidiaries; provided, upon the -------- consummation of any Acquisition, for calculations made from and after such Acquisition, Consolidated Adjusted EBIT shall be calculated on a pro forma --- ----- basis including the target's historical Consolidated Adjusted EBIT for the applicable period using historical financial statements obtained from the seller, broken down by fiscal quarter in the Borrower's reasonable judgment (the amounts from which may be adjusted solely as may be necessary to comply with Agreement Accounting Principles).
Consolidated Adjusted EBIT means, with respect to ESCO and its Consolidated Subsidiaries for any period, the sum (without duplication) of
Consolidated Adjusted EBIT. Consolidated Interest Expense", "Consolidated Net Income", "Consolidated Net Worth", "Consolidated Railcar Lease Expense", "Consolidated Tangible Net Worth", "Corporate Base Rate" and "First Chicago" in Section 1.01 of the Credit Agreement are hereby deleted in their entirety.
Consolidated Adjusted EBIT means, for any period, the sum of Consolidated Net Income for such period plus, to the extent deducted in determining such Consolidated Net Income, Consolidated Interest Expense, provisions for income tax and fifty percent (50%) of Consolidated Railcar Lease Expense for such period minus, to the extent included in such Consolidated Net Income, all income of the Borrower and its Subsidiaries derived from Investments in GATX or any Subsidiary of GATX (other than the Borrower or a Subsidiary of the Borrower).
Consolidated Adjusted EBIT means for any fiscal period the sum of (i) Consolidated Net Income (Loss) for such period plus, (ii) Consolidated Interest Expense, plus (iii) federal, state and local income tax expense, plus (iv) operating lease expense plus (v) minority interest expense and plus (vi) noncash extraordinary losses and (without duplication) noncash losses from discontinued operations less (i) the recognized portion of deferred revenue less (ii)one time sales of power generation capacity pursuant to contract restructurings with existing customers, less (iii) extraordinary gains; less (iv) income from discontinued operations and less (v) cash dividends on Capital Stock; all computed and calculated for KTI and its Consolidated Subsidiaries in accordance with GAAP.
Consolidated Adjusted EBIT for any period, Consolidated Net Income for such period (a) PLUS, without duplication and to the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of (i) total income tax expense and (ii) interest expense, amortization or writeoff of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with Debt (including the Loans) and (b) MINUS, to the extent included in Consolidated Net Income for such period, the amount which would appear in accordance with GAAP on a statement of income of the Company and its consolidated Subsidiaries opposite the heading "Allowance for equity funds used during construction" (or any similar item).