Prior Period Consolidated Return definition

Prior Period Consolidated Return means any consolidated Tax Return of CBI filed, or to be filed, for taxable years prior to the Consolidated Return year.
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Prior Period Consolidated Return means any U.S. federal consolidated income Tax return of USOP filed, or to be filed, for taxable periods commencing prior to April 27, 1997.
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Prior Period Consolidated Return means any consolidated Tax Return of D&B filed, or to be filed, for years prior to the Consolidated Return year.
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Examples of Prior Period Consolidated Return in a sentence

  • Any proposed or actual income Tax deficiencies or refund claims, with respect to the Consolidated Return or any Prior Period Consolidated Return that arises from the business activities of a particular member and that do not otherwise affect any Controlled Return, may be defended or prosecuted by that member at its own cost and expense and with counsel and accountants of its own selection.

  • In the event that two or more carrybacks of Tax Items are available for use in a Consolidated Return or in any Prior Period Consolidated Return, their order of use will be determined by the Code.

  • The provisions of this Agreement shall survive the Distribution and remain in full force until all periods of limitations, including any extensions or waiver periods, as well as the ten-year statute of limitations with respect to foreign tax credit redeterminations, for the Consolidated Return period and Prior Period Consolidated Return periods have expired and no further carrybacks to such periods are possible.

  • Any proposed or actual income Tax deficiencies or refund claims with respect to the Consolidated Return or any Prior Period Consolidated Return which arise from the business activities of either the ITT Group or the ESI Group, and do not otherwise affect any Controlled Return, may be defended or prosecuted by the ITT Group or the ESI Group, as the case may be, at its own cost and expense and with counsel and accountants of its own selection.

  • Adjustments to the tax liability (including interest and penalties) of ITT Industries which result because of actions taken by either ITT Destinations or ITT Hartford after the Distribution Date which trigger any gain recognition agreements entered into in a Prior Period Consolidated Return year by ITT Industries pursuant to Section 367 of the Code shall be charged to the ITT Destinations Group or to the ITT Hartford Group, as the case may be.

  • Penalties levied in respect of the Consolidated Return or any Prior Period Consolidated Return shall be charged to the Group whose separate computations gave rise to the penalty.

  • If no AMT is payable in the Consolidated Return or any Prior Period Consolidated Return, no Group shall include AMT in its Allocable Federal Income Tax Liability for such year.

  • The provisions of this Agreement shall survive the Distribution Date and remain in full force until all periods of limitations, including any extension or waiver periods, as well as the ten-year statute of limitations with respect to FTC redeterminations, for the Consolidated Return year and any Prior Period Consolidated Return years have expired and no further carrybacks to such periods are possible.

  • The interested Group may control the proceedings, but it may not compromise or settle any deficiency of tax or refund claim for the Consolidated Return year or any Prior Period Consolidated Return year without the prior written consent of the other Groups, which shall not be unreasonably withheld.

  • The benefit of any carryback of a Tax Item to the Consolidated Return or any Prior Period Consolidated Return shall be payable only as and to the extent that such carryback reduces the Consolidated Return or Prior Period Consolidated Return tax or produces a Net Reversal Benefit.


More Definitions of Prior Period Consolidated Return

Prior Period Consolidated Return means any consolidated income tax return (federal or state) of Florida Progress filed, or to be filed, for years prior to the Consolidated Return year.
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Prior Period Consolidated Return means any consolidated tax return of the present ITT Corporation filed, or to be filed, for years prior to the Consolidated Return year.
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Prior Period Consolidated Return means any consolidated Tax return of (a) the present ITT Corporation, a Nevada corporation, filed, or to be filed, for taxable years prior to the Consolidated Return year and (b) the former ITT Corporation, a Delaware corporation (now ITT Industries, Inc., an Indiana corporation), filed, or to be filed, for taxable years prior to or including the 1995 Spin-Off Date. "Separate Consolidated Federal Income Tax Liability" shall mean, with respect to any year or portion thereof, the Tax liability which a Group would have incurred if such Group, on a stand alone basis, had been an affiliated group eligible to file a consolidated return for any portion of such taxable year during which it is included in the Consolidated Return or any Prior Period Consolidated Return and had filed a return for such period, computed without regard to AMT; provided, however, that in computing the Tax liability of the ITT Group, any Tax Item attributable to ITT and arising prior to the Distribution Date (determined as if there were a closing of the books as of such date) shall not be taken into account and shall be treated as a Tax Item of the Destinations Group; provided further that any credits of WD and its subsidiaries shall be treated as utilized at the earlier of the time such credits are utilized (a) in the Consolidated Return or any Prior Period Consolidated Return or (b) in the computation of the Separate Consolidated Federal Income Tax Liability of the ITT Group. "Spin-Off Tax Payee" shall have the meaning assigned to such term in Section 10(b)(ii) of this Agreement. "Spin-Off Tax Payor" shall have the meaning assigned to such term in Section 10(b)(ii) of this Agreement. 4 76 "Tax" or "Taxes" shall mean all forms of taxation, whenever created or imposed, and whether of the United States or elsewhere, and whether imposed by a local, municipal, governmental, state, foreign, federal or other body, and without limiting the generality of the foregoing, shall include income, sales, use, ad valorem, gross receipts, license, value added, franchise, transfer, recording, withholding, payroll, wage withholding, employment, excise, occupation, unemployment insurance, social security, business license, business organization stamp, environmental, premium and property taxes, together with any related interest, penalties and additions to any such tax, or additional amounts imposed by any Taxing Authority (domestic or foreign) upon the Destinations Group, the ITT Group, the ESI Group or any...
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Prior Period Consolidated Return means any U.S. federal consolidated income Tax return of GCG filed, or to be filed, for taxable periods ending on or prior to December 31, 1997.
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Related to Prior Period Consolidated Return

  • Consolidated Return means any Tax Return relating to Income Taxes filed pursuant to Section 1502 of the Code, or any comparable combined, consolidated, or unitary group Tax Return relating to Income Taxes filed under state or local tax law which, in each case, includes IDT and at least one subsidiary.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Adjusted Consolidated EBITDA means, with respect to the Borrower and the Subsidiaries on a consolidated basis for any period, the Consolidated Net Income of the Borrower and the Subsidiaries for such period plus

  • Annualized Consolidated EBITDA means, for any quarter, the product of Consolidated EBITDA for such period of time multiplied by four (4).

  • Consolidated Rental Expense means, for any period, on a consolidated basis for the Company and its Subsidiaries, the aggregate amount of fixed and contingent rentals payable in cash by the Company and its Subsidiaries with respect to leases of real and personal property (excluding capital lease obligations) determined in accordance with GAAP for such period (subject to Section 1.04(b)).

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Rent Expense means, for any period, the rental expense attributable to leases of real property that is deducted in determining Adjusted Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP. Consolidated Rent Expense shall be determined on a pro forma basis to give effect to any Material Specified Transaction occurring during such period as if such transactions had occurred on the first day of such period.

  • Consolidated Cash Interest Expense means, for any period, Consolidated Interest Expense for such period, excluding any amount not payable in Cash.

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of:

  • Adjusted Consolidated Net Income means, for any period, Consolidated Net Income for such period plus the sum of the amount of all net non-cash charges (including, without limitation, depreciation, amortization, deferred tax expense and non-cash interest expense) and net non-cash losses which were included in arriving at Consolidated Net Income for such period, less the amount of all net non-cash gains and non-cash credits which were included in arriving at Consolidated Net Income for such period.

  • Consolidated Net Interest Expense means, with respect to any Person for any period, (a) gross interest expense of such Person and its Subsidiaries for such period determined on a consolidated basis and in accordance with GAAP (including, without limitation, interest expense paid to Affiliates of such Person), less (b) the sum of (i) interest income for such period and (ii) gains for such period on Hedging Agreements (to the extent not included in interest income above and to the extent not deducted in the calculation of gross interest expense), plus (c) the sum of (i) losses for such period on Hedging Agreements (to the extent not included in gross interest expense) and (ii) the upfront costs or fees for such period associated with Hedging Agreements (to the extent not included in gross interest expense), in each case, determined on a consolidated basis and in accordance with GAAP.

  • Consolidated Cash Interest Charges means, for any Measurement Period, all Consolidated Interest Charges paid or payable in cash by Holdings and its Subsidiaries on a consolidated basis.

  • Consolidated Excess Cash Flow means, for any period, an amount (if positive) equal to:

  • Pre-Deconsolidation Period means any Tax Period ending on or before the Deconsolidation Date, and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Deconsolidation Date.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by, or credited to, the account of the Borrower and its Subsidiaries (including non-wholly owned Subsidiaries and Permitted J/Vs).

  • Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated Revenue means for any period the total revenues of the Company and its Subsidiaries, determined in accordance with GAAP.

  • Adjusted Consolidated Working Capital means, at any time, Consolidated Current Assets (but excluding therefrom all cash and Cash Equivalents) less Consolidated Current Liabilities at such time.

  • Consolidated Interest Expense means, with respect to any Person for any period, without duplication, the sum of:

  • Consolidated Cash Taxes means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • Deconsolidation Date means the last date on which SpinCo qualifies as a member of the affiliated group (as defined in Section 1504 of the Code) of which Parent is the common parent.

  • Adjusted Consolidated Net Worth means, at any date, without duplication, the sum of (a) the consolidated shareholders’ equity, determined in accordance with GAAP, of the Guarantor and its Consolidated Subsidiaries, plus (b) the aggregate Hybrid Instrument Amount plus (c) the VA Adjustment Amount; provided that, in determining such Adjusted Consolidated Net Worth, there shall be excluded (i) any “Accumulated Other Comprehensive Income (Loss)” shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries prepared in accordance with GAAP, (ii) the effect of any election under the fair value option in FASB ASC 825 permitting a Person to measure its financial assets or liabilities at the fair value thereof, and the related tax impact and (iii) all noncontrolling interests (as determined in accordance with Statement of Financial Accounting Standards No. 160, entitled “Noncontrolling Interests in Consolidated Financial Statements”) shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries.

  • Annualized Interest Expense means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share of interest expense, with other adjustments as are necessary to exclude the effect of items classified as extraordinary items, in accordance with generally accepted accounting principles, reduced by amortization of debt issuance costs and adjusted to reflect the assumption that (i) any interest expense related to indebtedness incurred since the first day of such four-quarter period is computed as if such indebtedness had been incurred as of the beginning of such period, and (ii) any interest expense related to indebtedness that was repaid or retired since the first day of such four-quarter period is computed as if such indebtedness had been repaid or retired as of the beginning of such period (except that, in making such computation, the amount of interest expense related to indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such indebtedness during such four-quarter period).

  • Cumulative Consolidated Net Income means, for any period, Consolidated Net Income for such period, taken as a single accounting period. Cumulative Consolidated Net Income may be a positive or negative amount.

  • Total Consolidated Assets means, at any time, the total assets appearing on the most recently prepared consolidated balance sheet of the Company and its Consolidated Subsidiaries as of the end of the most recent fiscal quarter of the Company and its Consolidated Subsidiaries for which such balance sheet is available, prepared in accordance with GAAP.