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 Invested Capital means, for any Payment Date with respect to any Remittance Period, the sum of (i) rate of return, payable to Duke Energy Florida, on its Capital Contribution equal to the rate of interest payable on the longest maturing WAL of Nuclear Asset-Recovery Bonds plus (ii) any Return on Invested Capital not paid on any prior Payment Date.
Return on Invested Capital means, for any Payment Date with respect to any Remittance Period, the sum of (i) rate of return, payable to VEPCO, on its Capital Contribution equal to the rate of interest payable on the longest maturing Tranche of Deferred Fuel Cost Bonds plus (ii) any Return on Invested Capital not paid on any prior Payment Date.
Examples of Return on Invested Capital in a sentence
All moneys deposited from time to time in the Collection Account, all deposits therein pursuant to this Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Return on Invested Capital, shall be held by the Indenture Trustee in the Collection Account as part of the Trust Estate as herein provided.
Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount up to the Required Capital Amount and Return on Invested Capital) shall be allocated to the General Subaccount.
More Definitions of Return on Invested Capital
Return on Invested Capital or “ROIC” has the meaning set forth in the Statement of Management Objectives.
Return on Invested Capital means the quotient of the following, as calculated consistent with past practice and the audited financial statements: (i) the average of Operating Income for each year of the Performance Period plus the average of rent paid during each year of the Performance Period, divided by (ii) the average end of year balances for the 2016, 2017 and 2018 fiscal years of the sum of the following balance sheet items: inventory, net property held for sale, net property, plant & equipment and capitalized leases reduced by accounts payable.
Return on Invested Capital means the return produced by funds invested in the Company and shall be determined as Earnings from Continuing Operations, as defined in Section 2(a)(vi), divided by the Average Capital Employed. The impact on Earnings from Continuing Operations and on Average Capital Employed of one or more acquisitions with an aggregate purchase price of $300 million or more and of individual acquisitions with a purchase price of greater than $100 million shall be excluded for the calendar year in which the acquisition or acquisitions occur. Average Capital Employed shall be derived by adding the Company’s capital debt plus equity at the close of the last day of the year preceding the Performance Year to the Company’s capital debt plus equity at the close of the last day of the present Performance Year, with the resulting sum being divided by two. Capital debt is defined as the sum of borrowing by the Company due within one year and long-term borrowing, as designated on the Company’s balance sheet. The resulting ratio shall be multiplied by One Hundred (100) in order to convert such to a percentage. Such percentage shall be calculated to the third place after the decimal point (i.e., xx.xxx%), and then rounded to the second place after the decimal point (i.e., xx.xx%). “Equity”, “borrowing due within one year”, and “long-term borrowing” shall be determined and measured in accordance with accounting principles generally accepted in the United States (“GAAP”), as applied in preparing the Company’s consolidated financial statements as of the Effective Date, excluding the impact of any subsequent changes during the Performance Period in GAAP or in the manner of application of GAAP in the preparation of the Company’s consolidated financial statements, and including the results from any operations which are included in the Company's continuing operations as of the Effective Date and which are subsequently presented as discontinued operations during the Performance Period as a result of a divestiture.
Return on Invested Capital means, for any Payment Date with respect to any Collection Period, the sum of Investment Earnings on the Capital Account for such Collection Period.
Return on Invested Capital means, for any Payment Date, the sum of (i) rate of return, payable to CEI South, on its Capital Contribution equal to the interest rate on the Tranche A-2 Securitization Bonds, plus (ii) any Return on Invested Capital not paid on any prior Payment Date.
Return on Invested Capital means, with respect to each fiscal year of the Company ending during the Performance Period, the number calculated by multiplying (a) the Company’s earnings before interest, taxes and items that management considers not representative of ongoing operations for such fiscal year times (b) one minus the Company’s tax rate for the applicable full fiscal year, and dividing the product thereof by the sum of the (x) Company’s total debt and (y) total share owners’ equity, all as reflected on the Company’s consolidated balance sheet for the applicable fiscal year and adjusted for the impact of acquisitions and divestitures. For purposes of computing total share owners’ equity for the denominator of this calculation, the accumulated other comprehensive income related to pension and retiree medical shall be held constant for each year of the Performance Period at the amount reflected on the Company’s consolidated balance sheet as of [ ⚫ ]. The Company’s minimum Return on Invested Capital level for each fiscal year during the Performance Period shall equal [ ⚫ ]% of the target Return on Invested Capital level for such fiscal year and the Company’s maximum Return on Invested Capital level for each fiscal year during the Performance Period shall equal [ ⚫ ]% of the target Return on Invested Capital level for such fiscal year. Results between the minimum and target Return on Invested Capital, and results between the target and maximum Return on Invested Capital, shall be linearly interpolated per the attached charts, as determined by the Committee.