Return on Average Capital Employed definition

Return on Average Capital Employed means NOPAT divided by Average Capital Employed. NOPAT means the Company’s Adjusted Operating Income, as reported on the Company’s audited financial statements, multiplied by .7 to account for an assumed 30% income tax rate, and further adjusted to exclude earnings (or losses) attributable to minority shareholders. Adjusted Operating Income equals operating income plus or minus Permitted Adjustments. Average Capital Employed means the Company’s total debt plus shareholders’ equity, as reported on the Company’s audited financial statements, excluding from shareholders’ equity any equity attributable to minority shareholders. The NOPAT and Capital Employed calculations shall exclude the cumulative effect of changes in generally accepted accounting principles. Annual ROACE shall be averaged over five points (i.e., the last day of each fiscal quarter and prior fiscal year-end). Permitted Adjustments may include: · Fees and expenses for restructuring consultants or financial advisors · Employee severance, outplacement and related benefits · Employee insurance and benefits continuation · Contractual salary continuation for terminated employees · Equipment transfers and facility preparation · Environmental services (e.g. plant clean-up prior to sale) · Fees and expenses for transaction advisors · Integration expenses · Other incremental costs and charges that are non-recurring and directly related to the transaction · Unusual, non-recurring or extraordinary cash and non-cash charges or income · The cash flow impact of the timing of insurance reimbursements or settlements · Cash proceeds from the sale of facilities or other assets In addition, the calculation of ROACE will be adjusted if necessary for the impact of the adoption of new U.S. GAAP accounting standards and for significant changes in the Company’s accounting methods.
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Return on Average Capital Employed means NOPAT divided by Capital Employed. NOPAT means the Company’s adjusted operating income, as reported on the Company’s audited financial statements, adjusted to exclude all unusual, non-recurring or extraordinary non-cash and cash charges and cash restructuring and repositioning charges, multiplied by .7 to account for an assumed 30% income tax rate, and further adjusted to exclude earnings (or losses) attributable to minority shareholders. Capital Employed means the Company’s total debt plus shareholders’ equity, as reported on the Company’s audited financial statements. The NOPAT and Capital Employed calculations shall exclude the cumulative effect of changes in generally accepted accounting principles. Annual ROACE shall be averaged over five points (i.e., the last day of each fiscal quarter and fiscal year-end).
Sample 1
Return on Average Capital Employed means NOPAT divided by Capital Employed. NOPAT means the Company’s adjusted operating income, as reported on the Company’s audited financial statements, adjusted to exclude all unusual, non-recurring or extraordinary non-cash charges and cash restructuring and repositioning charges, as determined in the discretion of the Committee, multiplied by .7 to account for an assumed 30% income tax rate, and further adjusted to exclude earnings (or losses) attributable to minority shareholders. Capital Employed means the Company’s total debt plus shareholders’ equity, as reported on the Company’s audited financial statements. The NOPAT and Capital Employed calculations shall exclude the cumulative effect of changes in generally accepted accounting principles. Annual ROACE shall be averaged over five points (i.e., the last day of each fiscal quarter and fiscal year-end).
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Examples of Return on Average Capital Employed in a sentence

  • ROACE = Return on Average Capital Employed = EBIT/Average Capital Employed.

  • The Performance Goals for this Performance Stock Award are: Return on Average Capital Employed (“ROACE”) and Average Annual Revenue Growth (“Revenue Growth”), with each having a 50% weight.

  • The Return on Average Capital Employed (ROCE) for the year ended 31st March, 2017 was 30.93%.

  • The Return on Average Capital Employed (ROCE) for the year ended 31st March, 2017 was 25.3%.

  • Performance is measured based on an equally weighted combination of adjusted Earnings Per Share growth and adjusted Return on Average Capital Employed.

  • The areas covered are as follows:• Pure Financial Measures:• Annual Turnover;• Value Added;• Earning Before Tax;• Total Assets;• Rate of Return on Average Capital Employed.

  • The Group made a drawdown of ₦61 billion ($200 million) in March 2018.

  • The Performance Goals for this Performance Stock Award are: Return on Average Capital Employed ("ROACE") and Average Annual Revenue Growth ("Revenue Growth"), with each having a 50% weight.

  • ManageMent’s discussion and analysisGrOup FInancIal reVIew FINaNCIaL hIghLIghtS & INSIghtS cOnt’d• Similarly, the Return on Average Capital Employed (“ROCE”) decreased to 8.0% for FY2009, down from 17.8 % for FY2008.

  • The Return on Average Capital Employed (ROCE) for the year ended 31st March, 2011 was 20.41% as compared to 23.33% for the same period last year.


More Definitions of Return on Average Capital Employed

Return on Average Capital Employed means NOPAT divided by Capital Employed. NOPAT means the Company’s earnings (or losses) from continuing operations before income taxes plus interest expense, as reported on the Company’s audited financial statements, adjusted to exclude: a) exchange gains (or losses) on intercompany loans and b) all other unusual, non-recurring or extraordinary non-cash charges, as determined in the discretion of the Committee, and cash restructuring and repositioning charges in excess of $4,000,000 multiplied by .7 to account for an assumed 30% income tax rate, and further adjusted to exclude earnings (or losses) attributable to minority shareholders. Capital Employed means the Company’s total debt plus shareholders’ equity, as reported on the Company’s audited financial statements. The NOPAT and Capital Employed calculations shall exclude the cumulative effect of changes in generally accepted accounting principles (“GAAP”). Notwithstanding the above, the Officer Nomination and Compensation Committee shall retain negative discretion to make adjustments to reduce the number of Common Stock to be issued under this Performance Stock Award. The calculation of ROACE shall be based upon a three-year average ROACE for fiscal 2012 – fiscal 2014. Annual ROACE shall be averaged over five points (i.e. fiscal quarters and fiscal year end).
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Return on Average Capital Employed. ROACE’) means Group earnings before interest and tax as adjusted for exceptional items and non-trading items for the Accounting Period taken as a percentage of Average Group Net Assets. For the purposes of this calculation Group Net Assets are defined as total consolidated assets less total liabilities as shown in the annual report issued by the Company for such accounting period excluding net debt, derivative financial instruments, and pension surplus or deficit. Average Group Net Assets is the simple average of the opening and closing Group Net Assets but may also be adjusted to reflect the average level of acquisition investment spend and the average carrying value of assets under construction during the accounting period;
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Related to Return on Average Capital Employed

  • Return on Invested Capital for a period shall mean earnings before interest, taxes, depreciation and amortization divided by the difference of total assets less non-interest bearing current liabilities.

  • Return on Sales means the percentage equal to the Company’s or a business unit’s Operating Income before incentive compensation, divided by the Company’s or the business unit’s, as applicable, revenue, determined in accordance with generally accepted accounting principles.

  • Return on Equity means the percentage equal to the Company’s Net Income divided by average stockholder’s equity, determined in accordance with generally accepted accounting principles.

  • Return on Capital means as to any Performance Period, Profit divided by invested capital.

  • Total Open-End Mutual Fund Average Net Assets means the average of all of the determinations of the aggregate net assets of all open-end funds sponsored by Xxxxxx Management (excluding the net assets of such funds investing in, or invested in by, other such funds, such as Xxxxxx RetirementReady® Funds and Xxxxxx Money Market Liquidity Fund, to the extent necessary to avoid "double-counting" of such net assets) at the close of business on each business day during each month while the Management Contract is in effect.

  • Leverage Factor means the leverage factor in respect of a Series of ETP Securities as specified in the relevant Final Terms.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Return on Assets means the percentage equal to the Company’s or a business unit’s Operating Income before incentive compensation, divided by average net Company or business unit, as applicable, assets, determined in accordance with generally accepted accounting principles.

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • Adjusted Cash Flow for any fiscal year shall mean Consolidated Net Income of the Borrower for such fiscal year (after provision for taxes) plus the amount of all net non-cash charges (including, without limitation, depreciation, deferred tax expense, non-cash interest expense, amortization and other non-cash charges) that were deducted in arriving at such Consolidated Net Income for such fiscal year, minus the amount of all non-cash gains and gains from sales of assets (other than sales of inventory and equipment in the normal course of business) that were added in arriving at such Consolidated Net Income for such fiscal year.

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of the Borrower, the Borrower’s net income after provision for income taxes for such fiscal period, as determined in accordance with GAAP and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain arising from any write-up in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by the Borrower in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person in which the Borrower has an ownership interest unless (and only to the extent) such earnings shall actually have been received by the Borrower in the form of cash distributions; (e) earnings of any Person to which assets of the Borrower shall have been sold, transferred or disposed of, or into which the Borrower shall have been merged, or which has been a party with the Borrower to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain arising from the acquisition of debt or equity securities of the Borrower or from cancellation or forgiveness of Debt; (g) gains or non-cash losses arising from Hedge Agreements entered into by Borrower, and (h) gain arising from extraordinary items, as determined in accordance with GAAP, or from any other non-recurring transaction.

  • Adjusted Net Operating Income means, with respect to a Property for any given period, Net Operating Income of such Property for such period minus Capital Reserves for such period.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the Shares (including the Company's distribution reinvestment plan), less (ii) distributions to investors that represent a return of capital and amounts paid for share repurchases pursuant to the Company's share repurchase program. For purposes of computing the Incentive Fee, the calculation methodology will look through derivatives or swaps as if the Company owned the reference assets directly. Therefore, net interest, if any, associated with a derivative or swap (which represents the difference between (i) the interest income and fees received in respect of the reference assets of the derivative or swap and (ii) the interest expense paid by the Company to the derivative or swap counterparty) will be included in the calculation of quarterly pre-incentive fee net investment income for purposes of the Incentive Fee. The calculation of the Incentive Fee for each quarter is as follows: · No Incentive Fee shall be payable to the Advisor in any calendar quarter in which the Company's pre-incentive fee net investment income does not exceed the preferred return rate of 1.50% (6.0% annualized) (the "Preferred Return") on Adjusted Capital. · 100% of the Company's pre-incentive fee net investment income, if any, that exceeds the Preferred Return, but is less than or equal to 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor. This portion of the Company's pre-incentive fee net investment income is referred to as the "catch-up." The "catch-up" provision is intended to provide the Advisor with an incentive fee of 12.5% on all of the Company's pre-incentive fee net investment income in any calendar quarter when the Company's pre-incentive fee net investment income reaches 1.715% in such calendar quarter (6.86% annualized). · 12.5% of the amount of the Company's pre-incentive fee net investment income, if any, that exceeds 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor once the Preferred Return is reached and the catch-up has been achieved (12.5% of the Company's pre-incentive fee net investment income thereafter shall be allocated to the Advisor).

  • average daily net assets of the Fund shall mean the average of the values placed on the Fund's net assets as of 4:00 p.m. (New York time) on each day on which the net asset value of the Fund is determined consistent with the provisions of Rule 22c-1 under the 1940 Act or, if the Fund lawfully determines the value of its net assets as of some other time on each business day, as of such time. The value of the net assets of the Fund shall always be determined pursuant to the applicable provisions of the Declaration and the Registration Statement. If the determination of net asset value does not take place for any particular day, then for the purposes of this section 6, the value of the net assets of the Fund as last determined shall be deemed to be the value of its net assets as of 4:00 p.m. (New York time), or as of such other time as the value of the net assets of the Fund's portfolio may be lawfully determined on that day. If the Fund determines the value of the net assets of its portfolio more than once on any day, then the last such determination thereof on that day shall be deemed to be the sole determination thereof on that day for the purposes of this section 6. You may waive all or a portion of your fees provided for hereunder and such waiver shall be treated as a reduction in purchase price of your services. You shall be contractually bound hereunder by the terms of any publicly announced waiver of your fee, or any limitation of the Fund's expenses, as if such waiver or limitation were fully set forth herein.

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • Measurement Period shall have the meaning specified in Section 14.01(b)(i).

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Company has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Qualifying Income Gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • EBITDA Margin means the ratio between (a) EBITDA and (b) total toll and other concession revenues.