Adjusted Operating Income

Example Definitions of "Adjusted Operating Income"
Adjusted Operating Income. A non-U.S. GAAP measure calculated by adjusting income before income taxes to eliminate (i) interest expense and other income, (ii) certain gains related to the Fidelity & Guaranty Life Holdings, Inc. acquisition, (iii) the impact of net investment gains, excluding gains and losses on derivatives and including net other-than-temporary impairment ('OTTI') losses recognized in operations, (iv) the effect of changes in the rates used to discount the FIA embedded derivative liability, and (v) the... effects of acquisition-related reinsurance transactions, net of the corresponding value of business acquired ('VOBA') and deferred acquisition costs ('DAC') impact related to these adjustments View More
Adjusted Operating Income. For any given calendar year shall mean the Company's operating income, plus depreciation expense, plus effective interest on operating leases as if capitalized at 5%, less cash payments for income taxes, determined in accordance with accounting principles generally accepted in the United States and shall exclude the impact of non-cash impairment charges, early lease termination charges and special, non-recurring items reflected in the Company's financial statements for such calendar year.
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