Tangible Book Value means the quotient of the Company’s tangible common equity divided by the Company’s total common shares outstanding.
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 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.
Examples of Tangible Book Value in a sentence
These shares were earned pursuant to an award of performance shares granted on January 31, 2019 based on the Company's Common Dividends + Growth of Tangible Book Value per Share and Adjusted ROTCE against a peer group of companies over a three-year performance period.
The following table reconciles Book Value per share, which is a GAAP based measure to Tangible Book Value per share, which is a non-GAAP based measure.
Recourse leverage ratio is defined as recourse debt (see Recourse Debt Note above) at Redwood divided by tangible stockholders' equity (see Non- GAAP Tangible Book Value Note above).
For information on RoTCE and TBV, see “Capital Resources—Tangible Common Equity, Book Value Per Share, Tangible Book Value Per Share and Return on Equity” below.
These shares were earned pursuant to an award of performance shares granted on February 1, 2018 based on the Company's Common Dividends + Growth of Tangible Book Value per Share and Adjusted ROTCE against a peer group of companies over a three-year performance period.
More Definitions of Tangible Book Value
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.
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 as of any date of any Person shall mean the total assets minus total liabilities of such Person (but not including (a) (i) insurance licenses, (ii) goodwill and (iii) any other intangible assets and (b) any associated deferred Tax liabilities, as liabilities), in each case as of such date, as determined on a consolidated basis in accordance with GAAP.
Tangible Book Value means Book Value less goodwill and other intangible assets.
Tangible Book Value means the positive difference, if any, of (a) the Company’s consolidated assets (excluding goodwill, trademarks and other intangible assets) minus (b) the Company’s consolidated liabilities, in each case as reported on the Company’s consolidated balance sheet as of the Measurement Date, calculated in accordance with GAAP consistently applied with prior periods: provided, however, that: (i) there shall be included in Tangible Book Value, (A) the portion of the Premium, if any, not included in the earnings of the Company for periods prior to the Measurement Date, multiplied by 57.954%, (B) an add-back in an amount equal to the valuation allowance applied to the actual amount of deferred tax assets as of the Measurement Date for Federal and California franchise tax purposes that may be realized prior to the expiration of the applicable net operating loss carryforward periods; provided that the amount of such add-back plus the amount of deferred tax assets for Federal and California franchise tax purposes reflected on the consolidated balance sheet as of the Measurement Date shall not exceed $150,000,000, (C) an add-back in an amount equal to any allowance for loan losses specifically related to the A Participation Interest (as defined in the Asset Purchase Agreement) as of the Measurement Date multiplied by 57.954%, and (D) the amount of any goodwill on the consolidated balance sheet as of the Measurement Date related to acquisitions by the Company that were approved by the Investor in writing and closed between the date of this Agreement and the Measurement Date and (ii) there shall be excluded from Tangible Book Value, the effect of the issuance of the Series A Preferred Stock and the Warrants. Tangible Book Value shall be determined in good faith by the Board of Directors, subject to the approval of Investor, which approval will not be unreasonably withheld.
Tangible Book Value means total equity of the Company less good will and any other intangibles divided by shares outstanding.
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.