Statutory EBIT definition

Statutory EBIT means, net earnings before interest expense and tax expense calculated in accordance with SAP as set forth in column 1, line 29, page 4 in the 1999 Annual Statement.
View Source
Statutory EBIT means, for any period, the sum of the net income before dividends to policyholders and before federal and foreign income taxes as same would be shown on line 14(b), page 4, column 1 of a Benchmark Statement of each of PRACO and SNIC, in each case for such period as determined on a consolidated basis in accordance with SAP.
View Source
Statutory EBIT means net earnings before interest expense and tax expense in accordance with SAP as set forth in column 1, line 31, page 4 in the 2001 Annual Statement; provided that in the calculation of the Senior Debt to Statutory EBIT Ratio for any period which includes the fiscal quarter ended December 31, 2002, Statutory EBIT shall be adjusted by adding back the $24,876,486 decrease to EBIT taken in such fiscal quarter in connection with the 2002 LTD Intercompany Reinsurance Treaty; and provided further that any Statutory EBIT increases arising from either the cancellation or which partially or wholly offset the 2002 LTD Intercompany Reinsurance Treaty shall be excluded from Statutory EBIT to the extent that the Statutory EBIT increases are offset in federal income tax and/or capital gains.”
View Source

Related to Statutory EBIT

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of the Borrower, the Borrower’s net income after provision for income taxes for such fiscal period, as determined in accordance with GAAP and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain arising from any write-up in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by the Borrower in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person in which the Borrower has an ownership interest unless (and only to the extent) such earnings shall actually have been received by the Borrower in the form of cash distributions; (e) earnings of any Person to which assets of the Borrower shall have been sold, transferred or disposed of, or into which the Borrower shall have been merged, or which has been a party with the Borrower to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain arising from the acquisition of debt or equity securities of the Borrower or from cancellation or forgiveness of Debt; (g) gains or non-cash losses arising from Hedge Agreements entered into by Borrower, and (h) gain arising from extraordinary items, as determined in accordance with GAAP, or from any other non-recurring transaction.

  • Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • EBIT means, for any period, the net income of the Company and its Subsidiaries on a Consolidated basis for such period plus each of the following with respect to the Company and its Subsidiaries on a Consolidated basis to the extent utilized in determining such net income: (a) Interest Expense and (b) provision for taxes.