Adjusted Operating Earnings definition

Adjusted Operating Earnings means Operating Earnings plus realized gains, net foreign currency gains and decreases in expense associated with reversals of provisions for loan and lease losses; less realized losses and net foreign currency losses.
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Adjusted Operating Earnings means (a) the Corporation's net earnings, plus (b) any extraordinary or non-recurring items of expense (including, without limitation, any items of expense associated with the Corporation's Offering (as hereinafter defined) and related Reorganization (as hereinafter defined) and related transactions, charged against such earnings, plus (c) interest expense (including deferred financing costs) in respect of indebtedness and capitalized leases charged against such net earnings, other than such interest expense in respect of indebtedness under revolving credit or similar arrangements to finance inventories and receivables, plus (d) tax expense in respect of all taxes measured or levied on the basis of the Corporation's earnings or profits charged against such net earnings, all as determined by 2 reference to the Corporation's audited financial statements for such year, plus (e) bonus expense in respect of this Agreement, employment agreements of even date herewith between the Corporation and Marc ▇▇▇ ▇▇▇ Caro▇▇ ▇▇▇ber, respectively, and other bonuses paid or payable to senior executives of the Corporation and/or all subsidiaries, including Marisa Chri▇▇▇▇▇ ▇▇▇arel, Inc., Flapdoodles, Inc. and Adri▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇erprises, Inc. With regard to the Corporation's Adjusted Operating Earnings for 1994, such Earnings will be determined on a pro forma basis, as if the Corporation's reorganization and Offering (as those terms are defined in, and pursuant to, the Corporation's Agreement and Plan of Reorganization, dated June 22, 1994), and the application of the net proceeds from the Offering, were consummated on January 1, 1994.
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Adjusted Operating Earnings means for any period Consolidated Net Income for such period plus (a) to the extent deducted in determining such Consolidated Net Income, the sum of (i) extraordinary losses (net of any credits against or reduction of Federal and state income taxes resulting from such loss), determined in accordance with GAAP, (ii) depreciation and amortization, (iii) all taxes on or measured by income, whether Federal, state, local or otherwise, including any deferred portions thereof and (iv) all Fixed Charges, less (b) to the extent added in determining such Consolidated Net Income, extraordinary gains (net of any increases in Federal and state income taxes resulting from such gain), determined in accordance with GAAP.
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Examples of Adjusted Operating Earnings in a sentence

  • The amount of Incentive Compensation may be increased or decreased, if the Manager agrees and if a majority of the Independent Directors determines in the exercise of reasonable discretion that the amount so calculated is not equitable based upon facts and circumstances that may include, without limitation, dividend payments, market conditions, managerial performance or other factors not reflected in Adjusted Operating Earnings.

  • First, the number of Performance Share Units will be determined based on the following chart: Percentage of Performance Share Units Earned Average Three-Year After-Tax Adjusted Operating Earnings Per Share Average Three-Year Adjusted OperatingReturn on Equity *If Additional Adjustment Items are applied to actual performance metrics, applicable adjustments may also be made to the targets listed in this table.

  • Permit at the end of any fiscal quarter the ratio of Adjusted Operating Earnings to Fixed Charges for the period consisting of the four consecutive fiscal quarters ending with such fiscal quarter to be less than 1.50 to 1.0.


More Definitions of Adjusted Operating Earnings

Adjusted Operating Earnings means (a) the Corporation's net earnings, plus (b) any extraordinary or non-recurring items of expense (including, without limitation, any items of expense associated with the Corporation's Offering (as hereinafter defined) and related Reorganization (as hereinafter defined) and related transactions, charged against such earnings, plus (c) interest expense (including deferred financing costs) in respect of indebtedness and capitalized leases charged against such net earnings, other than such interest expense in respect of indebtedness under revolving credit or similar arrangements to finance inventories and receivables, plus (d) tax expense in respect of all taxes measured or levied on the basis of the Corporation's earnings or profits charged against such net earnings, all as determined by reference to the Corporation's audited financial statements for such year, plus (e) bonus expense in respect of this Agreement, and other bonuses paid or payable to senior executives of the Corporation and/or all subsidiaries, including Marisa Chri▇▇▇▇▇ ▇▇▇arel, Inc. With regard to the Corporation's Adjusted Operating Earnings for 1994, such Earnings will be determined on a pro forma
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Adjusted Operating Earnings means, for the applicable Performance Period, the Company's operating earnings as presented in the Company's consolidated audited income statement for the Performance Period, adjusted to eliminate or exclude the effects of unusual or non-recurring items, which adjustments shall be approved by the Committee as provided in Section 3 below, including but not limited to, the effect of accounting changes; tangible and intangible asset impairment charges; fees, expenses and charges associated with debt and/or equity financing transactions, merger and acquisition activity (including the purchase or sale of a business unit or its assets and any post transaction-related claims, litigation or settlement charges) and exit and realignment activities; gains/losses from asset sales not made in the ordinary course of business; retirement plan gains/losses; and gains/losses or charges associated with material litigation, regulatory, tax or insurance settlements; and fluctuations in currency exchange rates. Adjustments to the Company’s operating earnings for purposes of determining any Award earned hereunder shall be taken into account only to the extent that they are separately identified or quantified in the Company’s consolidated audited financial statements, the notes to the consolidated financial statements, “Management’s Discussion and Analysis” in the Company’s Annual Report on Form 10-K or in other Company filings with the Securities and Exchange Commission. “Adjusted Operating Earnings After Tax” shall mean the Adjusted Operating Earnings less the product of the Adjusted Operating Earnings and the Adjusted Tax Rate. “Average ROIC” shall mean the two-year average (for the Performance Period) of the ROIC.
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Adjusted Operating Earnings means the operating earnings before the accelerated recognition of deferred revenues, accelerated depreciation, restructuring and other costs (gains) and impairment of assets of Transcontinental or Coveris, as applicable.
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Related to Adjusted Operating Earnings

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • Adjusted Operating Cash Flow means the net cash provided by operating activities of the Company as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K, adjusted to eliminate the effect on operating cash flows of net customer financing cash flows, as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K.

  • Consolidated Operating Income means, for any period, consolidated operating income of the Company and its consolidated Subsidiaries determined in accordance with GAAP.

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of the Borrower, the Borrower’s net income after provision for income taxes for such fiscal period, as determined in accordance with GAAP and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain arising from any write-up in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by the Borrower in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person in which the Borrower has an ownership interest unless (and only to the extent) such earnings shall actually have been received by the Borrower in the form of cash distributions; (e) earnings of any Person to which assets of the Borrower shall have been sold, transferred or disposed of, or into which the Borrower shall have been merged, or which has been a party with the Borrower to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain arising from the acquisition of debt or equity securities of the Borrower or from cancellation or forgiveness of Debt; (g) gains or non-cash losses arising from Hedge Agreements entered into by Borrower, and (h) gain arising from extraordinary items, as determined in accordance with GAAP, or from any other non-recurring transaction.

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”