Average Invested Capital

Average Invested Capital. For any given calendar year shall mean (i) the sum of (A) (1) the Company's shareholder equity, plus (2) the Company's average long-term debt, including current portion, plus (3) average operating lease obligations, as if capitalized, in each case as of January 1 of the applicable calendar year plus (B) (1) the Company's shareholder equity, plus (2) the Company's average long-term debt, including current portion, plus (3) average operating lease obligations, as if capitalized, in each case as... of December 31 of the applicable calendar year, divided by (ii) two (2), 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. View More