EBIDT definition
EBIDT means earnings before interest and taxes, plus non-cash expenses such as depreciation and amortization, all computed in accordance with GAAP.
EBIDT means, at any time, the Earnings from Operations of the Borrower and its Subsidiaries on a consolidated basis as set forth in the statement of operations of the Borrower and its Subsidiaries for the immediately preceding four Fiscal Quarters for which financial statements have been delivered to the Banks pursuant to Section 8.8 of this Agreement (adjusted to account for material dispositions during such four Fiscal Quarters), plus (to the extent previously deducted) (a) the sum of the following expenses of the Borrower and its Subsidiaries for such period: (i) depreciation expense; (ii) amortization expense (including all amortization expenses recognized in accordance with APB 16 and 17 but excluding (A) all other amortization of programming, production and pre-publication costs and (B) amortization of videocassettes); (iii) expenses accrued under the Incentive Plans for such period; (iv) in the event that, during such period, the Borrower or any of its Subsidiaries acquires all or substantially all of the assets or Equity of any other Person or any Equity in any other Person that is reported on an equity basis, the EBIDT of such Person, as determined in accordance with the terms of this definition, shall be included in the EBIDT of the Borrower for all Fiscal Quarters during such period; and (v) all other non-cash charges; less (b) the proportional EBIDT of the interests held by any other Person in entities fully consolidated with the Borrower and its Subsidiaries, as determined in accordance with the terms of this definition. In calculating EBIDT, any losses of United Paramount Network prior to December 31, 1996 shall be disregarded. In addition, for the purposes of Section 7.2 only, EBIDT shall be calculated on an actual historical basis without taking into account acquisitions or dispositions during any relevant calculation period."
EBIDT in Section 1.1 of the Credit Agreement is hereby amended by deleting "and" before clause (a)(v) and adding a new section following clause (a)(v) to read "and (vi) interest charges related to securitization and financing transactions, the accounting treatment of which is governed by any Financial Accounting Standards Board statement".
Examples of EBIDT in a sentence
Borrower shall, on a consolidated basis, Maintain at all times, such maintenance to be evidenced at the end of each fiscal year of Borrower, calculated by using the immediately preceding twelve month period, a ratio of EBIDT to Funded Debt of not less than 1.0 to 1.0.
If the Partnership or any Subsidiary has made an acquisition during any Fiscal Period for which EBIDT is to be computed, then EBIDT shall be computed as if such system had been owned by the Partnership or such Subsidiary throughout such Fiscal Period.
The ratio of EBIDT to Total Cash Interest and Preferred Dividends shall not be less, as of the last day of any Fiscal Quarter, than 2.25x.
More Definitions of EBIDT
EBIDT to read as follows: -----
EBIDT means, at any time, the Earnings from
EBIDT means, at any time, with respect to the Borrower and its
EBIDT means, for any period, the sum of the Consolidated net income or loss for such period, excluding gains or losses from extraordinary items, of the Partnership and its Subsidiaries plus the sum of interest expense, depreciation and amortization expense and provision for income taxes to the extent deducted in computing such net income or loss (but excluding from the calculation of such Consolidated net income or loss, (i) that percentage of the accounts of each Minority Entity equal to the percentage ownership interest of such Minority Entity which is not owned by the Partnership or any Subsidiary and (ii) interest income and interest expense in respect of any advance made by the Partnership to any Subsidiary, by any Subsidiary to the Partnership, or by any Subsidiary to any other Subsidiary).
EBIDT means, for any period, the sum of the Consolidated net income or loss for such period, excluding gains or losses from extraordinary items, of the Borrower and its Subsidiaries plus the sum of interest expense, depreciation and amortization expense and provision for income taxes to the extent deducted in computing such net income or loss (but excluding from the calculation of such Consolidated net income or loss, (i) that percentage of the accounts of each Minority Entity equal to the percentage ownership interest of such Minority Entity which is not owned by the Borrower or any of its Subsidiaries and (ii) interest income and interest expense in respect of any advance made by the Borrower to any such Subsidiary, by any such Subsidiary to the Borrower, by any such Subsidiary to any other Subsidiary of the Borrower or by the Borrower to the Parent Companies). Amounts that become payable under Section 2.11(b) shall not be included in calculating EBIDT except, to the extent actually paid, for the purposes of Section 2.10. In computing EBIDT for any period, the following conventions shall be applied:
EBIDT means, at any time, the Earnings from Operations of the
EBIDT means, at any time, with respect to the Borrower and its ----- consolidated Subsidiaries for any period, operating profit (loss) (excluding that related to Discontinued Operations) for the immediately preceding four Fiscal Quarters, plus other income (loss) for such period, plus interest income for such period, plus depreciation and amortization (excluding amortization related to programming rights, pre-publication costs and videocassettes) for such period, excluding (a) gains (losses) on sales of assets during such period (except (I) gains (losses) on sales of inventory sold in the ordinary course of business and (II) gains (losses) on sales of other assets if such gains (losses) are less than $10,000,000 individually and less than $50,000,000 in the aggregate during such period), (b) other non-cash items for such period (including (i) provisions for losses and additions to valuation allowances, (ii) provisions for restructuring, litigation and environmental reserves and losses on the Disposition of businesses and (iii) pension settlement charges), and (c) nonrecurring expenses incurred during such period in connection with the merger of CBS and the Borrower pursuant to the Agreement and Plan of Merger entered into by CBS, the Borrower and Viacom/CBS LLC dated as of September 6, 1999, as amended and restated as of October 8, 1999 and as of November 23, 1999, minus cash payments made during such period in respect of non- cash charges taken during any previous period (excluding cash payments in respect of non-cash charges taken prior to December 31, 1998)."