Net Income Excluding Non-Performance Items definition
Net Income Excluding Non-Performance Items means net income as adjusted, if applicable, to reflect the after-tax impact of any adjustments affecting the Performance Period related to the cumulative effect of changes in accounting principle, items that are deemed to be both unusual in nature and infrequently occurring (as formerly defined by generally accepted accounting principles prior to ASU 2015-1), results from discontinued operations, merger/acquisition charges, restructuring charges incurred during the year and adjustments due to changes in the Federal corporate statutory tax rate and/or other tax law changes. Additionally, for any calendar year within the Performance Period impacted by the measurement of credit losses pursuant to the adoption of ASU 2016-13 (also referred to as the Current Expected Credit Loss (“CECL”) model), net income shall be reduced by net credit-related charge-offs (after-tax) and increased by the provision for credit losses (after-tax).
Net Income Excluding Non-Performance Items means net income as adjusted, if applicable, to reflect the after-tax impact of any adjustments affecting the Performance Period related to the cumulative effect of changes in accounting principle, items that are deemed to be both unusual in nature and infrequently occurring (as formerly defined by generally accepted accounting principles prior to ASU 2015-1), results from discontinued operations, merger/acquisition charges, restructuring charges incurred during the year and adjustments due to changes in the Federal corporate statutory tax rate and/or other tax law changes. Additionally, net income shall be reduced by net credit-related charge-offs (after-tax) and increased by the provision for credit losses (after-tax).