Return on Tangible Common Equity definition

Return on Tangible Common Equity or “ROTCE” means, for the Company and each of the other Financial Performance Group Companies, the net income of the company as reported in its consolidated financial statements on an annualized basis less dividends accrued on outstanding preferred stock, divided by the company’s average total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than mortgage servicing rights) and goodwill and other intangibles on nonmarketable equity securities, net of applicable deferred taxes, as may be adjusted by the Committee, in its discretion, for the effect of (i) losses resulting from discontinued operations, (ii) the cumulative effect of significant changes in generally accepted accounting principles, and (iii) any other unusual or infrequently occurring gain or loss which is separately identified and quantified.
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Return on Tangible Common Equity means GAAP earnings divided by the annual average tangible common equity, excluding write-offs of intangibles and goodwill, and “Net Operating Loss” shall mean negative operating income, excluding write-offs of intangibles and goodwill. Prior to the determination of the performance adjustment for the calendar year, no unvested portion of the Option may vest or become exercisable [except as provided in Section 3.2(g)]. Performance adjustments shall be determined in good faith by the Committee, and following a Change in Control or other corporate-type event may include, without limitation, determinations with respect to the performance calculation and the applicable time period for measuring performance, so as to preserve as nearly as practicable the intended effect of this Section.
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Examples of Return on Tangible Common Equity in a sentence

  • For purposes of calculating Core Return on Tangible Common Equity (Core ROTCE), Tangible Common Equity is further adjusted for Core OID balance and net deferred tax asset.

  • Capitalized terms used but not defined herein (including, but not limited to, Return on Tangible Common Equity) shall have the same meanings assigned to them in the Plan and the Award Agreement.

  • Adjusted Return on Tangible Common Equity is derived by dividing actual or annualized adjusted after-tax income attributable to AIG common shareholders by average Adjusted Tangible Common Shareholders’ Equity.

  • As used throughout this Proxy Statement, Citi’s revenues and expenses excluding divestiture-related impacts, Tangible Book Value per Share and Return on Tangible Common Equity are each non-GAAP financial measures.

  • The applicable Royalty payable by the Successful Tenderer will be USD1.78 /MT inclusive of NBT.

  • If MS ROTCE is less than [ ]%, you will not earn any portion of your LTIP Award as a result of the MS ROTCE measure, and one-half of the Target Award will be canceled.(b)[Relative Total Shareholder Return]/[Relative Return on Tangible Common Equity].

  • Under no circumstances shall the DB Contractor be entitled to anticipatory or unearned profit or consequential or other damages as a result of a termination or partial termination under this Section 17.

  • In the event of a partial Performance Period, Return on Tangible Common Equity shall be determined using a weighted average for each calendar quarter included in the applicable Performance Period as reported by SNL Financial.

  • Performance Definition and Goals:For Performance Shares, there are four performance criteria that are measured and assessed before any shares are earned: a core performance metric of Return on Average Common Equity (ROACE), two threshold goals of Efficiency Ratio and Return on Tangible Common Equity (ROTCE) and the Individual Risk Performance Evaluation.

  • Focused on Growing Our Company Selectively and Profitably While PositioningPre-tax Income Return on Assets 1.10% - 1.30% Return on Tangible Common Equity 15%+Tax Rate% Fee Income 40% - 50%Efficiency Ratio 60% - 65%Annualized Net Charge-Offs 0.20% - 0.60%Risk Adjusted MarginNet Interest Margin 3.25% - 3.50%Our Balance Sheet for Sustainable, Higher Returns in the Long Term Total Assets Earning Assets 3Q15 1ROTCE, ROA, NIM, and NCO / Average Loans are annualized.

Related to Return on Tangible Common Equity

  • 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.

  • 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.

  • Common Equity of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person.

  • Adjusted Consolidated Net Income means, in respect of any period, an amount determined for the Borrower and its Restricted Subsidiaries, on a consolidated basis, equal to (a) Consolidated Net Income for such period plus (b) the sum, without duplication (and to the extent deducted and not added back in calculating Consolidated Net Income for such period), for such period of:

  • Adjusted Total Assets means, for any Person, the sum of:

  • Adjusted Equity means the Equity funded in Indian Rupees and adjusted on the first day of the current month (the “Reference Date”), in the manner set forth below, to reflect the change in its value on account of depreciation and variations in Wholesale Price Index (WPI), and for any Reference Date occurring between the first day of the month of Appointed Date (the date of achievement of Financial Closure) and the Reference Date; i. On or before Commercial Operation Date (COD), the Adjusted Equity shall be a sum equal to the Equity funded in Indian Rupees and expended on the Project, revised to the extent of one half of the variation in WPI occurring between the first day of the month of Appointed Date and Reference Date; ii. An amount equal to the Adjusted Equity as on COD shall be deemed to be the base (the “Base Adjusted Equity”); iii. After COD, the Adjusted Equity hereunder shall be a sum equal to the Base Adjusted Equity, reduced by 0.333% (zero point three threethree percent) thereof at the commencement of each month following the COD [reduction of 1% (one percent) per quarter of an year] and the amount so arrived at shall be revised to the extent of variation in WPI occurring between the COD and the Reference Date; For the avoidance of doubt, the Adjusted Equity shall, in the event of termination, be computed as on the Reference Date immediately preceding the Transfer Date; provided that no reduction in the Adjusted Equity shall be made for a period equal to the duration, if any, for which the PPA period is extended, but the revision on account of WPI shall continue to be made.