Average ROCE definition

Average ROCE means, with respect to a Business Unit for an Award Cycle, the arithmetic average of Return on Capital Employed of such Business Unit as determined for each year of the Award Cycle.
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Average ROCE means the simple average of the return on capital employed (“ROCE”) measure of the Company for each of the three fiscal years comprising the Performance Period (calculated and rounded as provided below), with such resulting average rounded to the nearest whole number percentage point, with five tenths or more of a percentage point (i.e., ≥ 0.5) rounded upwards and less than five tenths of a percentage point (i.e., < 0.5) rounded downwards (e.g., 12.5% rounded to 13% and 12.4% rounded to 12%), except to the extent otherwise provided in the first paragraph of “Termination of Employment - Due to a Change in Control” above.
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Average ROCE means the average of the Company’s annual Return on Capital Employed (“ROCE”) for each year of the Performance Period. “ROCE” shall equal the Company’s adjusted EBIT (excluding non-recurring items) for the period divided by the total of its average total assets for the period minus average current liabilities for the period. The Committee retains discretion to normalize the Average ROCE goals for the conversion to successful efforts accounting if and when the Company adopts such conversion.
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Examples of Average ROCE in a sentence

  • Also for this purpose, the Adjusted Net Income for any partial fiscal year shall be annualized and the Average Capital Employed shall be determined based on the average of Capital Employed as of the last day of only those quarters that have been completed, before determining ROCE for that partial fiscal year, and the Average ROCE shall be determined by averaging however many full and partial fiscal years for which an ROCE percentage shall have been determined.

  • If the Company implements a change in accounting principle during the Performance Period either as a result of issuance of new accounting standards or otherwise, and the effect of the accounting change was not reflected in the Company’s business plan at the time of approval of this award, then Average EPS Growth and Average ROCE shall be adjusted to eliminate the impact of the change in accounting principle.

  • No later than the Vesting Date the Committee shall certify in writing (which may consist of approved minutes of a Committee meeting) the levels of Average EPS Growth and Average ROCE attained by the Company for the Performance Period and the number of Performance Shares issuable to Recipient based on such performance.

  • For purposes of any acquisition-related purchase accounting adjustments, the Committee will determine, at the time the acquisition is completed, any purchase accounting adjustments to the Average ROCE percentages for payout purposes for such calendar year and any years remaining in Performance Period.

  • Unless otherwise provided in this Agreement, the ROCE Multiplier under the Agreement shall be determined from the following table based on the Company's Average ROCE for the Performance Period.

  • If the Average ROCE is between amounts shown, the ROCE Multiplier shall be linearly interpolated; provided however, that (i) in no event will the ROCE Multiplier be greater than 200% and (ii) the ROCE Multiplier will be 0% if the Average ROCE is not at least [xx%].

  • Performance Relative to Peers 3-YR Average ROCE (%ile of peers) >75%ile 0% 100% 150% 175% 200% 62.5%ile 0% 75% 125% 150% 175% Performance X Units Granted: Median 0% 50% 100% 125% 150% = Number of Shares Earned X Stock Price at End of Period = ACTUAL AWARD VALUE 37.5%ile 0% 0% 50% 75% 100% <25%ile 0% 0% 25% 38% 50% <5% 5% 8% 11% 14% · Awards will be interpolated for performance falling between discrete points on the matrix.

  • Performance Relative to Peers 3-YR Average ROCE (%ile of peers) >75%ile 0% 100% 150% 175% 200% 62.5%ile 0% 75% 125% 150% 175% Performance X Shares or Units Granted: Median 0% 50% 100% 125% 150% = Number of Units Earned X Stock Price at End of Period = ACTUAL AWARD VALUE 37.5%ile 0% 0% 50% 75% 100% <25%ile 0% 0% 25% 38% 50% <5% 5% 8% 11% 14% · Awards will be interpolated for performance falling between discrete points on the matrix.

  • For purposes of determining the applicable payout percentage if a modification is made to Average ROCE for an acquisition, the percentage payout for each year within the Performance Period will be determined separately, and each such year’s percent payout will be averaged to determine the percentage of the one half of the Initial Performance Units subject to this Appendix B earned for the Performance Period.

  • For the avoidance of doubt (and for illustrative purposes), (1) if the COC Effective Date occurs in the third fiscal year of the Performance Period, Average ROCE shall be calculated based on the ROCE measure for each of the first and second fiscal years of the Performance Period and (2) if the COC Effective Date occurs in the second fiscal year of the Performance Period, Average ROCE shall be equal to the ROCE measure for the first fiscal year of the Performance Period.


More Definitions of Average ROCE

Average ROCE means the simple average of the return on capital employed (“ROCE”) measure of the Company for each of the three fiscal years comprising the Performance Period (calculated and rounded as provided below), with such resulting average rounded to the nearest whole number percentage point, with five tenths or more of a percentage point (i.e., ≥ 0.5) rounded upwards and less than five tenths of a percentage point (i.e., < 0.5) rounded downwards (e.g., 12.5% rounded to 13% and 12.4% rounded to 12%), except to the extent otherwise provided in the first paragraph of “Termination of Employment - Due to a Change in Control” above. For purposes of the “Average ROCE” calculation described above, ROCE for a fiscal year shall be calculated, as a percentage, as the sum of the Company’s non-GAAP after-tax net interest expense for such fiscal year and non-GAAP adjusted net income (loss) for such fiscal year, divided by the average of the Company’s non-GAAP total capitalization (calculated as the sum of total stockholders’ equity and current and long-term debt, less cash, in each case as of December 31st of the applicable fiscal year) for such fiscal year and the immediately preceding fiscal year, with such resulting percentage rounded to the nearest tenth of a percentage point, with five hundredths or more of a percentage point (i.e., ≥ 0.05) rounded upwards and less than five hundredths of a percentage point (i.e., < 0.05) rounded downwards (e.g., 12.05% rounded to 12.1% and 12.04% rounded to 12.0%).
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Related to Average ROCE

  • Average Rate means the simple arithmetic mean of the bank rates in effect at 4:00 p.m. Eastern Standard Time each day during the calendar month which immediately precedes the calendar month in which payment is made, where the "bank rate" means the rate of interest established from time to time by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association;

  • Average Daily Flow means the cumulative total sewage flow to the sewage works during a calendar year divided by the number of days during which sewage was flowing to the sewage works that year;

  • average daily net assets of the Fund shall mean the average of the values placed on the Fund's net assets as of 4:00 p.m. (New York time) on each day on which the net asset value of the Fund is determined consistent with the provisions of Rule 22c-1 under the 1940 Act or, if the Fund lawfully determines the value of its net assets as of some other time on each business day, as of such time. The value of the net assets of the Fund shall always be determined pursuant to the applicable provisions of the Declaration and the Registration Statement. If the determination of net asset value does not take place for any particular day, then for the purposes of this section 6, the value of the net assets of the Fund as last determined shall be deemed to be the value of its net assets as of 4:00 p.m. (New York time), or as of such other time as the value of the net assets of the Fund's portfolio may be lawfully determined on that day. If the Fund determines the value of the net assets of its portfolio more than once on any day, then the last such determination thereof on that day shall be deemed to be the sole determination thereof on that day for the purposes of this section 6. You may waive all or a portion of your fees provided for hereunder and such waiver shall be treated as a reduction in purchase price of your services. You shall be contractually bound hereunder by the terms of any publicly announced waiver of your fee, or any limitation of the Fund's expenses, as if such waiver or limitation were fully set forth herein.

  • Average weekly discharge limitation means the highest allowable average of "daily discharges'' over a calendar week, calculated as the sum of all "daily discharges'' measured during a calendar week divided by the number of "daily discharges'' measured during that week. Each of the following 7-day periods is defined as a calendar week: Week 1 is Days 1 - 7 of the month; Week 2 is Days 8 - 14; Week 3 is Days 15 - 21; and Week 4 is Days 22 - 28. If the "daily discharge" on days 29, 30 or 31 exceeds the "average weekly" discharge limitation, Ohio EPA may elect to evaluate the last 7 days of the month as Week 4 instead of Days 22 - 28. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.