Operating Profits definition
Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.
Operating Profits means, as applied to any Person for any period, the sum of (i) net revenues, less (ii) cost of goods and services sold, less (iii) operating expenses (including depreciation and amortization) of such Person for such period, as determined in accordance with GAAP.
Operating Profits for any fiscal year means the Company’s net operating income for such fiscal year. The determination of “Operating Profits” shall be made from the Company’s books and records. Such books and records shall be maintained in accordance with U.S. generally accepted accounting principles and the Company’s internal accounting policies and procedures in effect on the Grant Date, but consistently applied over each of the fiscal years during the Restriction Period. For example, if grants of stock options are required or are elected to be shown as an expense on the Company’s financial statements during the Restriction Period, such expense shall be excluded from the determination of Operating Profits because it represents a change in accounting treatment from that in effect on the Grant Date. Extraordinary and other one-time items of income and expense, such as gains on sales of fixed assets, transactions outside of the ordinary course of business, and restructuring costs, in each case, arising in connection with a Material Acquisition or Divestiture shall be excluded from the determination of Operating Profits for the fiscal year in which the extraordinary or one-time item of income or expense occurs. Extraordinary and one-time items of income and expense, such as gains on sales of fixed assets, transactions outside of the ordinary course of business, and restructuring costs, in each case, arising in connection with an acquisition or divestiture or other business combination that is not a Material Acquisition or Divestiture (a “Non-Material” Acquisition or Divestiture) shall not be excluded from the determination of Operating Profits for the fiscal year in which the extraordinary or one-time item of income or expense occurs. In addition, in the event that a Material Acquisition or Divestiture occurs, other than the divestiture of a business that generated an operating loss in the twelve (12) months preceding such divestiture, the Operating Profits for the fiscal year of the transaction (on a pro rata basis) and all subsequent fiscal (on a full basis) years shall be adjusted to eliminate the impact of the addition of Operating Profits, or losses, or the divestiture of Operating Profits resulting from the transaction. The amount of the adjustment shall be based on the operating profits, or losses, generated by the business acquired or the operating profits generated by the business divested in the twelve (12) months immediately preceding such acquisition or divestitur...
Examples of Operating Profits in a sentence
The Company shall distribute the full amount of Operating Profits for each Class B Payment Period as a capital payment or dividend to the Company’s Securityholders on the terms, and subject to the provisions, of this Agreement.
To the extent the Company has available cash (as determined by the Board of Managers), the Company shall distribute Net Operating Profits to the Members at such times, and in such amounts, as may be determined by the Board of Managers; provided, that to the extent the Company has available cash (as determined by the Board of Managers) the Company shall distribute Net Operating Profits in accordance with this Section 3.2 not less frequently than once per year.
The target is defined below: December 31, 2016 $377,761 $1,500,000 worth of GACR Shares The 2016 year end operating profit target is based off the following annual goals: December 31, 2014 $312,199 December 31, 2015 $343,149 December 31, 2016 $377,761 Net Operating Profits shall be the amount of money that the Blackhawk businesses’ have earned after the cost of goods sold and operating expenses have been deducted.
Variances from the total overall budgets, and significant variances in budget line items for costs or revenue line items, will be included in the calculation of Operating Profits and Losses only when approved by the CSC.
Unless this Agreement is wrongfully terminated by Owner, then upon the expiration or earlier termination of this Agreement, Manager shall have no claim against Owner, Purchaser or the Hotels for amounts owed to it under this Agreement which have not been paid by reason of the inadequacy of Gross Revenues or Operating Profits.
More Definitions of Operating Profits
Operating Profits of the Company means, for any Class B Payment Period, the excess of (a) the amounts paid on the (i) Obligations that the Company may then hold in accordance with this Agreement, in each case during such Class B Payment Period over (b) any operating expenses of the Company not paid or reimbursed by the Bank or any one of its branches or affiliates as provided in the Services Agreement during such Class B Payment Period.
Operating Profits means for the applicable Performance Period, the Company's total revenue less distributions to minority interests and less total expenses (excluding amortization of intangible assets, impairment losses and debt expenses, including, without limitation, interest and loan fees) as reflected in the Company's audited or unaudited financial statements as filed with the Securities and Exchange Commission.
Operating Profits means, for any fiscal year, the Company’s net operating income for such fiscal year. The determination of “Operating Profits” shall be made from the Company’s books and records. Such books and records shall be maintained in accordance with U.S. generally accepted accounting principles and the Company’s internal accounting policies and procedures consistently applied over each of the fiscal years during the OP Performance Period. Notwithstanding the foregoing, extraordinary and one-time items of income and expense, such as gains on sales of fixed assets, transactions outside of the ordinary course of business (bank refinancings, IPO/secondary stock offerings, etc.), and restructuring costs, in each case, shall be excluded from the determination of Operating Profits for the fiscal year in which the extraordinary or one-time item of income or expense occurs. The Company’s finance department shall make an initial determination of Operating Profits for each fiscal year during the OP Performance Period. The Company’s auditors shall review the finance department’s determinations. The Committee shall take into account the finance department’s determination and the Company’s auditors’ review and make the final determination of Operating Profits as soon as practicable after the end of the OP Performance Period.
Operating Profits means earnings before interest, taxes and purchase price amortization, adjusted to exclude non-recurring items, equity earnings/losses and minority interests.
Operating Profits means, as applied to any Person for any period, the operating revenue of such Person for such period, minus its costs of services for such period, and minus its selling, general and administrative costs for such period, but excluding therefrom all extraordinary gains or losses, as determined in accordance with GAAP.
Operating Profits means Profits determined without taking into account any Liquidating Gains or Liquidating Losses.
Operating Profits means the absolute value of the following amount (if positive) and "OPERATING LOSSES" shall mean the absolute value of the following amount (if negative): net income (loss) of the Partnership for such period determined in accordance with GAAP without giving effect to extraordinary gains (or losses) or any taxes on or measured by such net income or loss, plus the sum of (i) all amortization and depreciation ---- expense and other non-cash expenses (it being acknowledged by the parties hereto that principal payments on account of debt and capital expenditures other than those amortized during any period for which net income (loss) is being determined are not taken into account or deducted when calculating net income (loss) under GAAP), (ii) all Leasing Costs that are not treated as capital expenditures under GAAP, (iii) all interest expense of the Partnership on loans made by any BP Partner under the Partnership Agreement (which loans are evidenced by a BP Note) and (iv) all fees, costs and expenses (other than interest expense) incurred by the Partnership or any Partner in connection with any Partnership loan which were deducted as an expense (rather than amortized) other than non-amortizable fees, costs and expenses for Approved Loan Costs and non-amortizable Excess Proceeds Borrowing Costs, minus the Amortized Leasing ----- Costs for such period and the amortized portion of the Approved Loan Costs and the Excess Proceeds Borrowing Costs for such period. Operating Profits and Losses for any partial month shall be prorated on the basis of the actual number of days of such month and a 365-day year.