Operating Earnings definition
Operating Earnings. Earnings before interest, taxes, and amortization of goodwill and, for purposes of Section 3(b), before the payment of the Bonus (if any) paid or payable under Section 3(b).
Operating Earnings means consolidated net income available to common stockholders of the Borrower (computed in accordance with GAAP), plus, to the extent deducted in calculating such consolidated net income, depreciation, amortization and impairments, but excluding undistributed earnings of Unrestricted Subsidiaries, gains on the sale of investment properties or assets from “continuing operations” and “discontinued operations” (as indicated on the consolidated statements of income (and accompanying notes) of the Borrower) and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect operating earnings on the same basis.
Operating Earnings means net income after operating expenses (which operating expenses will include Base Management Fees but will not include Incentive Compensation) and preferred dividends, but before realized and unrealized gains (losses), real estate depreciation and amortization, non-cash equity compensation expense, net foreign currency gain (loss), gain (loss) on early retirement of interest rate hedge obligations and income (loss) associated with credit impairments on investments, loans and leases and, with respect to any TRS, income taxes.
Examples of Operating Earnings in a sentence
The determination of Operating Earnings made by the Company shall be final and binding on the parties to this Agreement.
The amount of Incentive Compensation may be increased or decreased, if the Manager agrees and if a majority of the Independent Directors determines in the exercise of reasonable discretion that the amount so calculated is not equitable based upon facts and circumstances that may include, without limitation, dividend payments, market conditions, managerial performance or other factors not reflected in Adjusted Operating Earnings.
First, the number of Performance Share Units will be determined based on the following chart: Percentage of Performance Share Units Earned Average Three-Year After-Tax Adjusted Operating Earnings Per Share Average Three-Year Adjusted OperatingReturn on Equity *If Additional Adjustment Items are applied to actual performance metrics, applicable adjustments may also be made to the targets listed in this table.
If the Operating Earnings are between 100% and 140% of the Earnings Target, such bonus shall be prorated between 25% and 50% of the Base Salary.
If the Operating Earnings are between 80% and 100% of the Earnings Target, such bonus shall be prorated between 0% and 25% of the Base Salary.
More Definitions of Operating Earnings
Operating Earnings above a fifteen percent (15%) return on average Net Assets during each of the twelve months in the fiscal year of the Company.
Operating Earnings means the consolidated operating earnings of the Company as determined in accordance with generally accepted accounting principles ("GAAP"), consistently applied with the Company's past practices, provided, however, that such Operating Earnings shall not reflect (i.e., shall not be reduced by) any amortization of goodwill. The determination of Operating Earnings made by the Company shall be final and binding on the parties to this Agreement. For purposes of this Section 3.2, the "Target Earnings" of the Company shall be as determined by the Board of Directors. The Board of Directors shall have the right to modify, at any time and in its sole discretion, any previously established "Target Earnings" for reasons such as, but not limited to, any acquisition, disposition, merger, reorganization, liquidation, dissolution or other transaction involving the Company or any of its subsidiaries, or other extraordinary or significant events or changes in circumstances relating to the Company or any of its subsidiaries, businesses or operations.
Operating Earnings means total interest income, in accordance with GAAP, less interest expense, general and administrative expense and management fees, exclusive of any net income and net losses attributable to Carbon Capital I, Inc. or Carbon Capital II, Inc.
Operating Earnings. For purposes hereof (and the Contingent Note), the term "OPERATING EARNINGS", with respect to any year or period, shall mean the income of or attributable to the Business for such year or period, BEFORE deduction for (in each case, with respect to the Business) (i) interest paid in such year, (ii) income tax payable for such year, (iii) charges for amortization of goodwill, including without limitation any amortization of goodwill recorded in connection with this transaction or amortization of any payments made under the Contingent Note (but not including any amortization with respect to an acquisition by Seller, initiated by Seller, after the Closing Date, which acquisition positively impacts the Operating Earnings or Cumulative Operating Earnings, as the case may be, of Seller), (iv) any fees or expenses incurred by the Business in connection with the transactions contemplated by this Agreement, (v) allocations of corporate overhead of Purchaser, AmeriPath Indiana, Inc. or AmeriPath Indianapolis, LLC that is unrelated to the operation of the Business, and (vi) amounts payable to the Managing Director or other administrators of AmeriPath APA (provided that such amount shall not exceed $50,000 in the aggregate in any applicable twelve month period). All such calculations shall be determined in accordance with GAAP (as defined in SECTION 12.3 hereof). For purposes hereof (and the Contingent Note), the "Business" shall include the business, operations, contracts, assets and liabilities of Seller (as such is constituted immediately prior to the Closing), which Business following the Closing shall consist of the business, operations, contracts, assets and liabilities of, and the results of operations, revenues and expenses associated with, (A) Seller, (B) the contracts with hospitals and medical facilities in effect from time to time, to which Seller, prior to the Closing, and AmeriPath APA, following the Closing, is a party, and which are serviced by the physicians who from time to time were or are employed by Seller and/or AmeriPath APA and who report to the medical director for AmeriPath APA (collectively, such physicians being referred to herein as the "INDIANAPOLIS-BASED PATHOLOGISTS"), and (C) AmeriPath APA's employment of, and employment agreements with, any and all Indianapolis-Based Pathologists.
Operating Earnings means the Company’s after-tax net income adjusted to exclude the impact during the Performance Period of: (i) gains or losses on our junior subordinated debentures carried at fair value resulting from changes in interest rates and the estimated market credit risk adjusted spread; (ii) gains or losses from the change in fair value of the Company’s mortgage servicing rights; (iii) gains or losses from the change in fair value of swap derivatives; (v) net gains or losses on investment securities; (iv) exit or disposal costs and other charges related to business combinations such as goodwill impairment charges or bargain purchase gains; and (v) other special, unusual or non-recurring items as determined by the Compensation Committee in its sole discretion.
Operating Earnings. Cumulative Operating Earnings".
Operating Earnings for any fiscal year means the Company’s Earnings Before Income Taxes adjusted for Interest Expense, Net and Corporate General Expenses, as certified by the Committee.