Pretax Income definition

Pretax Income means the Company’s or a business unit’s income before taxes, determined in accordance with generally accepted accounting principles.

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Pretax Income. - shall mean for each Fiscal Year the net income of the Company before federal and state taxes determined in accordance with generally accepted accounting principles consistently applied and as approved by the independent public accountants who have examined the financial accounts and records of the Company for such Fiscal Year; provided, however, that such Pretax Income determination shall be adjusted to include the effect of the amount of any Bonus paid or to be paid to a Participant pursuant to the Plan.

Pretax Income with respect to Ligg▇▇▇, ▇▇ans for a specified year, the "Income before Income Taxes" as determined in accordance with generally accepted accounting principles ("GAAP") of Ligg▇▇▇ ▇▇▇ its most recent fiscal year, as report in filings to the United States Securities and Exchange Commission or, if there is no such filing, as reported by Ligg▇▇▇'▇ ▇▇▇ependent outside auditors. If GAAP changes in any material respect during the term of this Agreement so that the benefits anticipated by the parties (in light of GAAP applicable on the date of this Agreement), an appropriate adjustment shall be made to the formulas and calculations hereunder to achieve the parties' expectations as of the date hereof.

Examples of Pretax Income in a sentence

• Net Worth shall be decreased by the Company's proportionate share of "excess transaction expenses." For that purpose, excess transaction expenses means the amount, if any, by which the total ▇▇▇▇▇▇▇▇ Transaction Expenses recorded in 1998 exceed the remainder obtained by subtracting $11,000,000 from the aggregate Net Adjusted Pretax Income of all members of the ▇▇▇▇▇▇▇▇ Group for 1998.

• As soon as reasonably practicable, the Company shall cause its auditors to prepare an audited balance sheet and income statement for the Company as of and for the year ended December 31, 1998 in accordance with ▇▇▇▇▇▇▇▇ GAAP and shall calculate the Company's Adjusted Net Worth and Net Adjusted Pretax Income and the Initial Merger Consideration on the basis thereof.

• The Adjusted Net Worth, Net Adjusted Pretax Income for 1998 and Initial Merger Consideration shall have been determined.

• The Company's proportionate share of the ▇▇▇▇▇▇▇▇ Transaction Expenses or the excess transaction expenses shall be determined by multiplying the total ▇▇▇▇▇▇▇▇ Transaction Expenses or excess transaction expenses by a fraction, the numerator of which is the Company's Net Adjusted Pretax Income for 1998 and the denominator of which is the aggregate Net Adjusted Pretax Income of all members of the ▇▇▇▇▇▇▇▇ Group for 1998.

• If Lithia does not give notice of objections within that period, the Adjusted Net Worth, Net Adjusted Pretax Income and Initial Merger Consideration so calculated shall be final.

More Definitions of Pretax Income

Pretax Income means earnings of the Corporation before tax and after Bonuses for Corporate and Business Unit performance, unless otherwise defined.

Pretax Income means, on any date of determination, Consolidated Net Income, plus federal, state or other income taxes provisions recorded by the Company and its Subsidiaries, during the four fiscal quarters then preceding, taken on a consolidated basis.

Pretax Income shall be the income shown on Badger's books determined in accordance with generally accepted accounting principles and practices utilized by Badger's independent public accountant or, such other firm of independent public accountants as may be determined from time to time. Pretax Income shall be calculated before payment of federal and state income taxes and before allowance for the bonus payment calculated pursuant to this Agreement. However, Pretax Income shall not include income from extraordinary items as determined by generally accepted accounting principles.

Pretax Income means the consolidated pretax income (excluding extraordinary gains or losses) of the Company and its subsidiaries for the year, as reflected in the respective Consolidated Statement of Income prepared in accordance with generally accepted accounting principles (“GAAP”) and consistent with prior practice, as included in the Company’s filings with the Securities and Exchange Commission. For purposes of this Agreement, a “Pro Rata Bonus” shall be equal to the amount calculated by: multiplying the 5% Bonus Formula by a fraction, the numerator of which is the number of months in such quarter in which the Date of Termination occurs, and the denominator of which is 3. In addition, the Company shall in good faith negotiate a mutually acceptable bonus arrangement with the Consultant in which the Consultant shall receive a percentage of revenue the Company generates from sales of prepaid phone cards, sales of its products to the gambling industry to customers introduced by ▇▇▇▇▇▇▇▇, and sales or other fees earned from the use or implementation of the Company’s on-line instant ticket patent. If Consultant chooses not to assist the Company or the Company chooses not to have Consultant assist in those particular markets, then the Company shall not be obligated to negotiate a bonus to Consultant for revenues generated in those markets.

Pretax Income means operating and non-operating revenues (including extraordinary items not net of taxes, less all operating and non-operating expenses, except income taxes and minority interest. Pretax Income shall specifically exclude the following: (i) acquisition costs incurred in connection with the purchase of the Business, including but not limited to attorneys’ fees; (ii) any and all costs or other payments made directly or indirectly to the Buyer or any of its Affiliates for management fees; (iii) any intercompany allocations of expenses for overhead and services charged by the Buyer or any of its Affiliates; and (iv) the results of operations of any entity or line of business that is acquired by the Company after the Closing.

Pretax Income means, for any period, Net Income for such period plus (but only to the extent deducted in the determination of Net Income) tax expense for such period.

Pretax Income with respect to Liggett, means for a specified year, the "Income before Income Taxes" as determined in accordance with generally accepted accounting principles ("GAAP") of Liggett for its most recent fiscal year, as reported in filings to the United States Securities and Exchange Commission or, if there is no such filing, as reported by Liggett's independent outside auditors. If GAAP changes in any material respect during the term of this Agreement so that the benefits anticipated by the parties (in light of GAAP applicable on the date of this Agreement), an appropriate adjustment shall be made to the formulas and calculations hereunder to achieve the parties' expectations as of the date hereof.