Principles of Reporting Sample Clauses
Principles of Reporting. (a) The presentation of results of operation of the Parties with respect to Shared Products and Companion Diagnostics for U.S. Administration will be based on each Party’s respective financial information presented separately and on a consolidated basis in the reporting format depicted as follows: Total [***] [***] [***] [***] [***] [***]
(b) It is the intention of the Parties to interpret definitions to be consistent with this Exhibit D and Accounting Standards, it being understood and agreed that “Operating Profits or Losses” shall be calculated in accordance with Celgene’s or Vividion’s, as applicable, then current Accounting Standards practices (and the Parties hereby agree that Celgene, in its sole discretion, may adopt the same cost methodology as adopted by Vividion in accordance with its then current Accounting Standards practices solely for purposes of recording costs incurred by Celgene under this Exhibit D). Where such costs will be determined based on either Party’s system of cost or project accounting, each Party agrees to provide reasonable supporting documentation, as may be requested by the other Party, to ensure that each Party’s methodologies are reasonable and consistently applied. To the extent that such costs are not readily determinable based on the respective Party’s system of cost or project accounting, the JSC (or such other Committee designated by the JSC) will develop a reasonable methodology for determining such costs. Reasonable methodologies may include a standard rate or some other appropriate basis for allocating costs. For billing and reporting, the statement of operations will be translated into U.S. Dollars in accordance with this Agreement.
(c) If necessary, a Party will make the appropriate adjustments to the financial information it supplies under this Exhibit D to conform to the above format of reporting results of operation.
(d) The Parties agree that all Annual Net Sales of Shared Products and, as applicable, Companion Diagnostics in the US Territory will be booked by Celgene.
(e) There shall be no double counting of any expenses or income in determining the Operating Profits or Losses under this Exhibit D.
(f) All employee Commercialization expenses shall be calculated in accordance with the Commercialization FTE Rate.
Principles of Reporting. 1.1 The presentation of results of operations of the Parties will include each of the following line items (as each is defined in Exhibit B or elsewhere in the Agreement) be based on each Party’s respective financial information presented separately and on a consolidated basis in the reporting format depicted as follows (the “P&L”): [***] [***] [***] [***] [***] [***] [***]
Principles of Reporting. 2.1 The presentation of results of operations of Moderna with respect to Financial PCVs will include each of the following line items (as each is defined in Exhibit B or elsewhere in the Agreement) be based on Moderna’s financial information presented separately and on a consolidated basis in the reporting format depicted as follows: [***] [***] [***]
Principles of Reporting. The results of operations of GenIDEC will be presented in the following format (as to all Franchise Products and also on a product-by-product basis), with the categories as defined in Section A.4 below:
Principles of Reporting. The results of operations of the Collaboration will be presented in the following format (on a per Collaboration Product basis), with the categories as defined in Section A.1 below:
Principles of Reporting. The results of operations of the will be presented in the following format (on a per Product basis), with the categories as defined in Section A.1 above: [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. It is the intention of the Parties that the interpretation of these definitions will be in accordance with GAAP.
Principles of Reporting. Determination of Operating Profit (Loss) for a Licensed Product in the Profit-Share Territory will be based on each Party’s respective financial information. The interpretation of the defined terms in such report shall be in accordance with GAAP and this Agreement. Gross Sales less [ * ] = Operating Profit (Loss) If necessary, a Party will make the appropriate adjustments to the financial information it supplies under the Agreement to conform to the above format of reporting results of operations.
Principles of Reporting. For purposes of the sharing of costs and sharing of “Net Profit” or “Net Loss” (as the case may be) among the Parties as provided under the Agreement and this Financial Appendix, the presentation of results of operations of the GenNov Parties for each of the United States and Europe will be based on each GenNov Party’s respective financial information for each territory for the applicable period in the reporting format depicted as follows *****: For the United States Novartis Genentech Total Gross Sales (U.S.) less ***** = Net Sales (U.S.) less ***** = Gross Profit (U.S.) less ***** ***** = Net Profit (U.S.) or Net Loss (U.S.) for purpose of GenNov profit share; and For Novartis and Tanox only: Novartis’ share of Net Profit (U.S.) in accordance with the Agreement and this Financial Appendix; less *****. = Net Profit (TANOX) for purpose of calculating the Tanox Profit Share For Europe Novartis Genentech Total Gross Sales (EUR) less ***** = Net Sales (EUR) less ***** = Gross Profit (EUR) less ***** less ***** = Net Profit (EUR) or Net Loss (EUR) for purpose of GenNov profit share It is the intention of Genentech, Novartis and Tanox that the interpretation of these definitions and other matters under this Financial Appendix will be: (a) consistent with the U.S. generally accepted accounting principles (“GAAP”) consistently applied for Genentech; and (b) international accounting standards as consistently applied (“IAS”) for Novartis. The Finance Sub-Committee shall ensure consistency in accounting treatment between GAAP and IAS, where possible. If necessary a Party will make the appropriate adjustments to the formatting of financial information it supplies under the Agreement to conform to the format of reporting results of operations for purposes of GenNov as set forth in this Financial Appendix. For purposes of the definitions in this Financial Appendix and the calculation of applicable profit, cost, revenue and other amounts hereunder and under the Agreement, the Parties shall eliminate, and not include in any such amounts, any inter- and intra-company transactions ***** within or among the Parties (and/or their respective Affiliates or sublicensees), including without limitation with respect to transfer pricing, except to the extent expressly provided otherwise in the Agreement or this Financial Appendix. Notwithstanding anything to the contrary in the Agreement or this Financial Appendix (but without limiting any of the provisions in Article 19 (Indemnity...
Principles of Reporting. 1.1 The presentation of results of operations of the Parties will include each of the following line items (as each is defined in Exhibit B or elsewhere in the Agreement) be based on each Party’s respective financial information presented separately and on a consolidated basis in the reporting format depicted as follows (the “P&L”): [***] [***] [***] [***]
Principles of Reporting. Determination of Operating Profits (Losses), for a Profit Sharing Product will be based on each Party’s respective financial information. If the Parties have determined the terms for ex-U.S. Operating Profits (Losses), the Commercializing Party may choose to provide a consolidated worldwide pro forma financial statement for itself and its Sublicensees rather than separate financial statements for itself and its Sublicensees) in the following reporting format. The interpretation of the defined terms in such report shall be in accordance with GAAP and this Agreement. Gross Sales less Sales Returns and Allowances = Net Sales less Cost of Sales = Gross Profits less Marketing Costs less Sales Costs less Development Costs less Other Operating Income/Expense less Distribution Costs less General and Administrative Costs = Operating Profits or Losses If necessary, a Party will make the appropriate adjustments to the financial information it supplies under the Agreement to conform to the above format of reporting results of operations. Without limiting the foregoing, prior to the time that Gross Sales are obtained and if there are no incurred and mutually agreed costs related to sales or sales support, the Parties may eliminate the above line items related to sales and the support of sales, and the costs thereof, and use only those terms relevant to the sharing of Development Costs.