Business Unit Operating Capital

Business Unit Operating Capital. Shall consist of the following with respect to each Business Unit: 2.8.1. beginning of the Plan Year property, plant and equipment (including any asset recorded from the capitalization of leases, as required under SFAS Statement No. 13), plus 2.8.2. Average inventory and accounts receivable exclusive of any reserve for doubtful accounts, plus 2.8.3. Average goodwill, plus 2.8.4. Average other assets, minus ... 2.8.5. Average advance payment — customer down payments and progress payments on unshipped orders, minus 2.8.6. Average trade accounts payable, minus 2.8.7. Average other liabilities. Articles 2.8.2 through 2.8.7 above shall be determined by averaging the amounts of each Article at the end of the 12 accounting periods for the current Plan Year. Also, in the event a joint venture contributes to Business Unit Operating Capital, the joint venture contribution shall be adjusted downward by the percentage of ownership of the Company's joint venture partner. View More