Operational EBITDA definition

Operational EBITDA as defined in the definition of Consolidated EBITDA.

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Operational EBITDA means, for any period, consolidated operating income (or loss) of the Borrower and its Subsidiaries as reported in the annual audited and quarterly unaudited financial statements of the Borrower included in the SEC filings described in Section 5.02(a) and (b) increased, to the extent such items were deducted in determining such operating income (loss), by the sum of (a) depreciation and amortization, (b) asset impairment charges, (c) restructuring and other charges and (d) non-cash compensation on the Borrower's stock options; provided that Operational EBITDA shall be calculated without regard to discontinued operations. If the Borrower acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the assets or property of any other Person, or engages in any asset sale permitted by Section 6.05, during any period in respect of which Operational EBITDA is to be determined hereunder, such Operational EBITDA will be determined on a pro forma basis as if such acquisition or such asset sale, and any related incurrence or repayment of Indebtedness, occurred on the first day of the relevant period if the Operational EBITDA attributable to such acquisition or assets sold represents more than 10% of the Borrower's Operational EBITDA calculated immediately prior to giving effect to such acquisition or such asset sale.

Operational EBITDA means, for any period, operating income (or operating loss) of the Borrower and its Consolidated Subsidiaries, plus, to the extent deducted in determining such operating income (or operating loss), the sum of (a) depreciation expense, (b) amortization expense, (c) restructuring and other charges and (d) asset impairment charges. If the Borrower acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the assets or property of any other Person, or engages in any asset sale permitted by Section 5.05, during any period in respect of which Operational EBITDA is to be determined hereunder, such Operational EBITDA will be determined on a pro forma basis as if such acquisition or such asset sale occurred on the first day of the relevant period if the Operational EBITDA attributable to such acquisition or assets sold represents more than 10% of the Borrower's Operational EBITDA calculated immediately prior to giving effect to such acquisition or such asset sale.

Examples of Operational EBITDA in a sentence

• The ratio of Consolidated Operational EBITDA of the Borrower and its Consolidated Subsidiaries to Consolidated Interest Expense of the Borrower and its Consolidated Subsidiaries for any period of four consecutive fiscal quarters shall equal or exceed 3.5:1.0.

• As of the last day of each fiscal quarter, the ratio of Consolidated Indebtedness of the Borrower and its Consolidated Subsidiaries on such day to Consolidated Operational EBITDA of the Borrower and its Consolidated Subsidiaries for the four consecutive fiscal quarters ending on such day shall not exceed 3.00:1.00.

• As of the last day of each fiscal quarter, the ratio of Consolidated Operational EBITDA of the Borrower and its Consolidated Subsidiaries for the four consecutive fiscal quarters ending on such day to Net Interest Expense of the Borrower and its Consolidated Subsidiaries on, and (without duplication of Net Interest Expense) amortization of debt discount in respect of, Consolidated Indebtedness for such period shall not be less than 3.50:1.00.

• As of the last day of each fiscal quarter, the ratio of Consolidated Indebtedness of the Borrower and its Consolidated Subsidiaries on such day to Consolidated Operational EBITDA of the Borrower and its Consolidated Subsidiaries for the four consecutive fiscal quarters ending on such day shall not exceed 2.25:1.00.

• For purposes of clarification, the Operational EBITDA performance target set forth in Section 6 is based on the Company’s current business plan.

• The performance measure for the Performance Period shall be the cumulative Operational EBITDA for the Performance Period.

• For purposes of calculating Operational EBITDA, the Committee may, in its sole and absolute discretion, exclude the impact of non-recurring or extraordinary gains or losses, changes in accounting methodology (or similar items), and changes in law, that are not indicative of continuing operations and may also adjust the Operational EBITDA performance target based on approved capital expansion plans, acquisitions, and other changes in the Company’s business.

• Operational EBITDA is defined as operating income before interest, taxes, depreciation and amortization after accrual for bonuses and excluding restructuring charges (as determined by the Committee) and expenses for the U.S. defined benefit plan.

• The performance measure for the Performance Period shall have two elements; the cumulative Operational EBITDA for the Performance Period and Return on Working Assets (ROWA).

• Operational EBITDA is defined as disclosed in the Company’s SEC filings.

More Definitions of Operational EBITDA

Operational EBITDA means, for any period operating income (or operating loss) of the Borrower and its Consolidated Subsidiaries, excluding the operating income (or operating loss) of AT&T Latin America and At Home Corporation plus, to the extent deducted in determining such operating income (or operating loss), the sum of (a) depreciation expense, (b) amortization expense, (c) restructuring and other charges and (d) asset impairment charges. If the Borrower acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the assets or property of any other Person, or engages in any asset sale permitted by Section 5.05, during any period in respect of which Operational EBITDA is to be determined hereunder, such Operational EBITDA will be determined on a pro forma basis as if such acquisition or such asset sale occurred on the first day of the relevant period if the Operational EBITDA attributable to such acquisition or assets sold represents more than 10% of the Borrower's Operational EBITDA calculated immediately prior to giving effect to such acquisition or such asset sale.

Operational EBITDA means net income (loss) before amortization and depreciation expenses, finance costs, provision for income taxes and indirect corporate overhead allocations.

Operational EBITDA means, for any period operating income (or operating loss) of the Borrower and its Consolidated Subsidiaries, excluding the operating income (or operating loss) of AT&T Latin America (so long as it is a non-wholly-owned Subsidiary of the Borrower) and At Home Corporation plus, to the extent deducted in determining such operating income (or operating loss), the sum of (a) depreciation expense, (b) amortization expense, (c) restructuring and other charges and (d) asset impairment charges. If the Borrower acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the assets or property of any other Person, or engages in any asset sale permitted by Section 5.05, during any period in respect of which Operational EBITDA is to be determined hereunder, such Operational EBITDA will be determined on a pro forma basis as if such acquisition or such asset sale occurred on the first day of the relevant period if the Operational EBITDA attributable to such acquisition or assets sold represents more than 10% of the Borrower's Operational EBITDA calculated immediately prior to giving effect to such acquisition or such asset sale.

Operational EBITDA means, for any period, net income (or net loss) of the Borrower and its Consolidated Subsidiaries, excluding the net income (or net loss) of Liberty Media Group, plus, to the extent deducted in determining such net income, the sum of (a) interest expense, (b) income tax expense, (c) depreciation expense, (d) amortization expense, (e) amortization of goodwill included in other income, (f) minority interest expense, (g) restructuring and other charges, and (h) significant losses, minus the sum of (a) the portion of Operational EBITDA otherwise attributable to At Home Corporation and AT&T Latin America, (b) significant gains, (c) minority interest income, and (d) mark-to-market adjustments related to SFAS Statement No. 133; ▇▇▇▇ided that Operational EBITDA shall be calculated without regard to discontinued operations and that the calculation of Operational EBITDA shall be reasonably acceptable to the Administrative Agents. If the Borrower acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the assets or property of any other Person, or engages in any asset sale permitted by Section 5.05, during any period in respect of which Operational EBITDA is to be determined hereunder, such Operational EBITDA will be determined on a pro forma basis as if such acquisition or such asset sale occurred on the first day of the relevant period if the Operational EBITDA attributable to such acquisition or assets sold represents more than 10% of the Borrower's Operational EBITDA calculated immediately prior to giving effect to such acquisition or such asset sale.

Operational EBITDA is defined as disclosed in the Company’s public filings or audited financial statements in a manner consistent with past practices. Notwithstanding anything herein to the contrary, for purposes of calculating Operational EBITDA and ROWA, the Compensation Committee may, in its sole and absolute discretion, adjust the calculation of Operational EBITDA and ROWA, or their respective targets, based on approved capital expansion plans, acquisitions, changes in foreign currency exchange rates and other changes in Company business for events or actions during the course of the Performance Period that vary from business plan assumptions or that are unusual, infrequent and/or non-recurring (including but not limited to goodwill impairments or legacy costs). For purposes of clarification, the Operational EBITDA performance target set forth in Section 6 is based on the Company’s current business plan.