Adjusted PBT definition

Adjusted PBT for an Earnout Year shall mean the EBIT for such Earnout Year less the applicable Capital Charge for such Earnout Year.

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Adjusted PBT means profit before tax and Exceptional Items.

Adjusted PBT for any relevant period shall be equal to the consolidated net income (loss) of the Company and its subsidiaries but before provision for all federal, state and local income taxes for such period, determined in accordance with United States generally accepted accounting principles consistently applied (“GAAP”); provided, that the following items shall be excluded:

Examples of Adjusted PBT in a sentence

All matters relating to the calculation of Adjusted PBT and any Earnout Payment (including the determination with respect to capitalization or expense of various items and related depreciation or amortization periods, reserve methods for accounts receivable and inventory, and the treatment of other unusual or extraordinary items) shall be determined in accordance with GAAP.
If the EY 2011 Adjusted PBT is greater than the EY 2011 Target PBT, then the EY 2012 Target PBT shall be decreased by an amount equal to the lesser of (a) the amount by which the EY 2011 Adjusted PBT is greater than the EY 2011 Target PBT and (b) the amount equal to the EY 2012 Target PBT prior to any adjustment pursuant to this Section 2.1.2.4.
If the EY 2013 Adjusted PBT is greater than the EY 2013 Target PBT, then the EY 2014 Target PBT shall be decreased by an amount equal to the lesser of (a) the amount by which the EY 2013 Adjusted PBT is greater than the EY 2013 Target PBT and (b) the amount equal to the EY 2014 Target PBT prior to any adjustment pursuant to this Section 2.1.4.4.
Adjusted PBT is the statutory profit before tax adjusted for the following items: amortization of intangibles including client relationships and brand; defined benefit pension scheme past service costs; acquisition costs; incentivisation awards; onerous contracts and other gains and losses.
The determination of Adjusted PBT for any Earnout Year pursuant to this Section 2.3 shall be final and binding with respect to Adjusted PBT for such Earnout Year for purposes of any subsequent Earnout Calculations.
The guidelines and rules set forth in this Section 2.5 shall be used in calculating the Adjusted PBT and the Earnout Payments.
If the EY 2012 Adjusted PBT is greater than the EY 2012 Target PBT, then the EY 2013 Target PBT shall be decreased by an amount equal to the lesser of (a) the amount by which the EY 2012 Adjusted PBT is greater than the EY 2012 Target PBT and (b) the amount equal to the EY 2013 Target PBT prior to any adjustment pursuant to this Section 2.1.3.4.
If any such acceleration, deferral, or change occurs (without written authorization of the Purchaser), Adjusted PBT will be adjusted to negate the effects thereof.
The Purchaser shall account for any Acquired Business or Consolidating Business separate from the Company such that the calculation of the Adjusted PBT and any Earnout Payment (i) will in no way be affected by such Acquired Business or Consolidating Business and (ii) will continue to be reasonably determinable pursuant to the terms of this Agreement.
Unless otherwise agreed to in writing by the Parties, all financial statements of the Company for all times from and after the Closing shall be prepared in accordance with GAAP in a manner such that Adjusted PBT and any Earnout Payment will be reasonably determinable pursuant to the terms of this Agreement.

More Definitions of Adjusted PBT

Adjusted PBT means the audited profit before tax (disregarding amortisation of the Distribution Rights);

Adjusted PBT for a Fiscal Year shall mean the applicable EBIT for such Fiscal Year less the applicable Company Capital Charge for such Fiscal Year.

Adjusted PBT for an Earnout Year shall mean the EBIT for such Earnout Year less the applicable Capital Charge for such Earnout

Adjusted PBT for any year shall mean (x) the PBT for such year exclusive of all Acquisition PBT plus (y) for each Company Acquisition, the Annualized Acquisition PBT for such Company Acquisition.