Quote:
. “Pre-tax income” (PTIX) means, for any calendar year, the Company's consolidated pre-tax income calculated in accordance with Generally Accepted Accounting Principles in the United States and as reported in the Company's public securities filings but excluding: a) all asset write downs related to long term assets, b) gains or losses with respect to employee equity securities, c) gains or losses with respect to extraordinary, one-time or non-recurring events (including without limitation one-time transition or integration costs incurred in connection with the merger of the Company and Northwest Airlines Corporation during the two year period following the merger), and d) expense accrued with respect to the profit sharing plan.
Ok, I read your excerpt and feel like a dog watching TV. To me, the quoted passage validates what DPA has warned us of, not put it to bed. Extraordinary or 1 time events don't go against PTIX, regular charges do. How is it ok that the company can arbitrarily take a 1-time event and rename it as ordinary? Please explain.Originally Posted by Maddogflier
I was concerned and mad about this. Called my rep. He said read your contract it's another DPA mud toss. Read the contract no longer concerned or mad.. “Pre-tax income” (PTIX) means, for any calendar year, the Company's consolidated pre-tax income calculated in accordance with Generally Accepted Accounting Principles in the United States and as reported in the Company's public securities filings but excluding: a) all asset write downs related to long term assets, b) gains or losses with respect to employee equity securities, c) gains or losses with respect to extraordinary, one-time or non-recurring events (including without limitation one-time transition or integration costs incurred in connection with the merger of the Company and Northwest Airlines Corporation during the two year period following the merger), and d) expense accrued with respect to the profit sharing plan.