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 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, with respect to any corporation, limited liability company, partnership, association, or other entity, (a) the total consolidated assets of such entity (excluding any deferred Tax assets), minus (b) any intangible assets (such as goodwill), minus (c) the total liabilities of such entity (excluding (1) any Transaction Expenses and (2) deferred Tax liabilities). The Parties agree that, in connection with the calculation of Tangible Book Value, (i) Tangible Book Value shall be otherwise calculated as if the Contemplated Transactions had not occurred and (ii) Tangible Book Value shall be calculated in accordance with the methodologies utilized in preparing the Company Group’s audited financial statements for the Most Recent Fiscal Year End.

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.