Tangible Book Value definition

Tangible Book Value means the quotient of the Company’s tangible common equity divided by the Company’s total common shares outstanding.

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Tangible Book Value means, of any date, the sum of consolidated stockholders’ equity of Corporation and its wholly-owned Subsidiaries determined in accordance with GAAP, less (without duplication) the sum of all intangibles determined in accordance with GAAP (including, without limitation, goodwill and deferred or capitalized acquisition costs) and the equity in non-controlled subsidiaries, in each case, determined as of the end of the most recently completed fiscal quarter of the Corporation.

Tangible Book Value means, for a given fiscal year, (x) the Company’s (i) total stockholders’ equity less (ii) goodwill less (iii) intangible assets, in each case, as of the last day of the applicable fiscal year and set forth in the Company’s annual report on Form 10-K, and (y) the total from clause (x) above, as reasonably adjusted by the Committee, consistent with the Company’s financial statements, to reflect (i) mark-to-market gains/(losses) on mortgaging servicing rights (“MSR”), ESL, OPAL & MSR hedging, (ii) share (repurchase)/issuance impact and (iii) gains/(losses) on minority investments.

Examples of Tangible Book Value in a sentence

• On the Date of Issuance, the Units shall vest, and the Shares shall become issuable as determined based on the Company’s Adjusted ROTCE and Growth of Tangible Book Value Per Share Plus Common Dividends, each as defined on Appendix A, relative to the Peer Group, as defined on Appendix B, over a three-year performance period beginning on January 1, 2023 and ending on December 31, 2025 (the “Performance Period”) as certified by the Committee following the end of the Performance Period.

• For members of the Peer Group who fail, are acquired, or cease to have publicly-traded shares before the conclusion of the Performance Period, their Adjusted ROTCE and Growth of Tangible Book Value Per Share Plus Common Dividends (“Adj ROTCE and GTBVPS+D”) through the time the independent company stops reporting GAAP financials will be frozen and this Adj ROTCE and GTBVPS+D measurement will serve as their final Adj ROTCE and GTBVPS+D measurement for the Performance Period.

• The Participant shall not vest in any of the Shares of Restricted Stock if the Tangible Book Value per share of the Company measured as of the last day of the Performance Period does not exceed the Tangible Book Value per share of the Company measured as of the first day of the Performance Period.

• Except as reflected as a Tax receivable or reduction to Taxes payable after considering the effect of any reserve for uncertain tax positions in the Companies’ unaudited consolidated financial statements (excluding MAM and the Trust Department) as of the Closing Date or as reflected in the determination of the Tangible Book Value as of the Closing Date, Seller shall be entitled to any refund or over accrual of Taxes of the Companies for such periods.

• On the Date of Issuance, the Units shall vest, and the Shares shall become issuable as determined based on the Company’s Adjusted ROTCE and Growth of Tangible Book Value Per Share Plus Common Dividends, each as defined on Appendix A, relative to the Peer Group, as defined on Appendix B, over a three-year performance period beginning on January 1, 2021 and ending on December 31, 2023 (the “Performance Period”) as certified by the Committee following the end of the Performance Period.

More Definitions of Tangible Book Value

Tangible Book Value means an amount equal to the book value of the Companies and the Transferred Subsidiaries as of a specified date (determined in accordance with GAAP and on a basis consistent with the Financial Statements and the 2011 Financial Statements) minus the goodwill of the Companies and the Transferred Subsidiaries as of the Closing Date (determined in accordance with GAAP and on a basis consistent with the Financial Statements and the 2011 Financial Statements); provided that the fair value of any auction rate securities owned by the Companies and Transferred Subsidiaries as of such specified date (as determined in accordance with GAAP) will be reflected in the Tangible Book Value. For the avoidance of doubt, Tangible Book Value (i) shall be fully adjusted for the amount of the Pre-Closing Dividend actually paid and (ii) shall not give effect to purchase accounting or any other adjustments relating to the transaction or the conduct of the business by the Purchaser following Closing.

Tangible Book Value. The Committee has sole discretion to determine whether the performance measures have been achieved. In determining whether Tangible Book Value targets have been met, credit will be given for dividends declared or paid to stockholders, the expense to the Company related to restricted stock awards and may exclude or give credit for the effects of any other item the Committee deems appropriate, including changes in other comprehensive income.

Tangible Book Value means, with respect to a Person, the total net asset value of such Person and its Subsidiaries on a consolidated basis less goodwill, intangibles and, with respect to the Company, Transaction Charges (as defined in Schedule I), in each case, calculated in accordance with the Accounting Methodologies.

Tangible Book Value total shareholder’s equity of Pagaya Parent (including preferred shares) less good will and any other intangibles, in each case determined in accordance with GAAP and as set forth on the consolidated balance sheet of Pagaya Parent.

Tangible Book Value means an amount equal to the difference between: shareholder equity minus goodwill as of the Closing Date, determined in accordance with GAAP applied on a consistent basis and in a manner consistent with the historical and customary practices of the Company, as illustrated by example on the statement attached hereto as Exhibit 9.2.

Tangible Book Value means total equity of the Company less good will and any other intangibles divided by shares outstanding.

Tangible Book Value means the dollar amount representing the Company’s aggregate assets less the Company’s aggregate liabilities as set forth in the Company’s most recent audited financial statements.