GAAP Net Income definition

GAAP Net Income for any period means the net income (or loss) of the Property Owning Partnerships for such period, determined in accordance with GAAP, consistently applied, excluding (without duplication) to the extent included therein (a) all extraordinary gains, including, without limitation, any extraordinary gains arising from, or in connection with a Capital Transaction, and (b) non-recurring gains. GAAP Net Income with respect to the Properties shall be determined in good faith by the General Partner and such determination shall be final and binding on all parties hereto.

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GAAP Net Income means the Company’s cumulative fiscal year 2010 and 2011 GAAP net income reported in its annual report on Form 10-K for the applicable years. The Committee, in its discretion, may determine to adjust the results by excluding some or all of the effects of certain unusual items. “TSR Rank” means the aggregate total shareholder return on Shares over the approximately two year period beginning October 28, 2009 and ending on the day the Company’s earnings are announced following the close of the Company’s 2011 fiscal year, ranked against the total shareholder return over the same two year period for each of the companies that comprise the S&P 500 Index. Total shareholder return will be calculated using a beginning price equal to the trading volume weighted average price over the period from October 8, 2009 to November 18, 2009, and an ending price equal to the trading volume weighted average price over the period beginning 14 trading days before and ending 15 trading days after the date of the release of the Company’s fiscal year 2011 earnings, and accounting for reinvestment of dividends over this period; provided, however, that if the date of the release of the Company’s fiscal year 2011 earnings is fewer than 15 trading days prior to November 21, 2011, then the ending price will be equal to the average price over the 30-trading day period ending on November 21, 2011.

GAAP Net Income means the Company’s cumulative fiscal year 2011 and 2012 GAAP net income reported in its annual report on Form 10-K for the applicable years. The Committee, in its discretion, may determine to adjust the results by excluding some or all of the effects of certain unusual items. “TSR Rank” means the aggregate total shareholder return on Shares over the approximately two year period beginning October 27, 2010 and ending on the day the Company’s earnings are announced following the close of the Company’s 2012 fiscal year, ranked against the total shareholder return over the same two year period for each of the companies that comprise the S&P 500 Index. Total shareholder return will be calculated using a beginning price equal to the trading volume weighted average price over the period from October 7, 2010 to November 17, 2010, and an ending price equal to the trading volume weighted average price over the period beginning 14 trading days before and ending 15 trading days after the date of the release of the Company’s fiscal year 2012 earnings, and accounting for reinvestment of dividends over this period; provided, however, that if the date of the release of the Company’s fiscal year 2012 earnings is fewer than 15 trading days prior to November 21, 2012, then the ending price will be equal to the average price over the 30-trading day period ending on November 21, 2012. For purposes of this provision, TSR will be calculated using the trading volume weighted average share price for Visa Inc. and the simple average of the closing prices for the S&P 500.

Examples of GAAP Net Income in a sentence

Return on Equity: Return on Equity is defined as the return on average shareholders’ equity, which shall be computed by dividing the sum of GAAP Net Income as reported in the Annual Reports for each of the three years in the Performance Period by the sum of the Average Shareholders’ Equity for each of the three years.
The Percentage of Performance Shares Earned with respect to GAAP Net Income shall never exceed 200%.
Notwithstanding anything in this Agreement to the contrary, the value of vested Performance Share Units, if any, paid to the Participant under this Agreement shall in no event exceed 1.2% of the Company’s cumulative GAAP Net Income for the Performance Period, as determined by the Committee in its sole discretion, subject to the maximum payout amount set forth in Section 4.03(e) of the Plan and the Committee’s right to adjust payment downwards pursuant to Section 12.06 of the Plan.
The Performance Goals for this Award are (A) specified levels of the Company’s GAAP Net Income and (B) the total shareholder return of the Company ranked against the total shareholder return of companies that are included in the Standard & Poor’s 500 Index (“S&P 500 Index”) as of the end of the applicable period used for purposes of calculating this goal, as described below (“TSR Rank”).
Cumulative GAAP Net Income shall be subject to such adjustments as approved by the Compensation Committee in its sole discretion.
The Seller has not (i) declared or paid cash dividends upon any of the stock of the Seller or (ii) made any distributions of the property or assets of the Seller, other than declaring and paying dividends to its stockholders up to an aggregate amount for all such dividends and distributions of less than fifty percent (50%) of the GAAP Net Income during the Seller’s current fiscal year.
Notwithstanding the foregoing, the Company shall make the following mandatory distributions on or before 90 days after the end of each fiscal year: Each Member shall be distributed on an annual basis additional Distributable Cash equal to such Members' tax liability on allocated Net Profits and the Members as a whole, shall be distributed with respect to each fiscal year an amount equal to the GAAP Net Income for such fiscal year up to a maximum of One Million Two Hundred Thousand Dollars ($1,200,000).
For Named Executive Officers disclosed in the Company’s Proxy Statement at any time during the vesting period, the vesting would also be contingent upon achievement of a three-year cumulative Adjusted Net Income performance target as approved by the Committee (Adjusted Net Income is defined as Xylem US GAAP Net Income adjusted for items as identified in the AIP& LTIP Default Guidelines for Potential Adjustments).
Net Income is defined as GAAP Net Income, as reported in the Company’s Form 10-K for the fiscal year excluding, however, non-recurring charges under GAAP, branch closure, severance and acquisition one-time charges that occur in 2020.
The Company will not permit Consolidated Tangible Net Worth at any time to be less than (i) $40,000,000 plus (ii) 50% of GAAP Net Income (without giving effect to any losses) for each Fiscal Quarter beginning on or after May 31, 1998 plus (iii) 75% of the Net Equity Proceeds from any equity offering by the Company or any of its Subsidiaries after May 31, 1998.

More Definitions of GAAP Net Income

GAAP Net Income means, as of any date of determination, the Seller’s net income as determined in conformity with GAAP.

GAAP Net Income means, with respect to any Person, for any period, the net income (or loss) of such Person for such period determined in accordance with GAAP; other than the net income of such Person that is, on the last day of such period, subject to any statutory restriction or limitation on the payment of dividends or the making of other distributions, to the extent of such restriction or limitation.

GAAP Net Income will be determined by calculating the net income available to owners of the Company’s Common Partnership Units before non-cash equity compensation expense, in accordance with GAAP.

GAAP Net Income means the consolidated net income of the Company and its Subsidiaries, determined in accordance with GAAP.