Colicity other operating income or expenses from 2021 to 2022. Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis). "Form 10-K/A-J.C. Penney Company Inc. for the Fiscal Year Ended Feb. 3, 2018," Page 26. Other operating revenue comprises irregular revenue not directly related to the principal activity.Interest income is recognised on an accrual basis once it is likely that the group will gain economic benefit from the transaction and the amount of interest income can be reliably measured. Operating income and revenueare important metrics that both show the money made by a company. Cost of sales. Operating income is a company's profit after deducting operating expenses such as wages, depreciation, and cost of goods sold. An income statement is one of the three major financial statements that report a companys financial performance over a specific accounting period. The segment Other includes both Group eliminations as well as Other operating revenue not related to the identified segments. 120,250 (460,200) Operating income 236,300. Operating income = Total Revenue - Direct Costs - Indirect Costs OR 2. Other revenue is generated in the course of non-regular business operations, including penalties received and fines for delay, but also grant financing. Operating Profit means the difference between the discounted revenues and the discounted operating costs over the economic lifetime of the investment, where this difference is positive. Gross income shall not be diminished as a result of the Security Instruments or the creation of any intervening estate or interest in a Property or any part thereof. 'Other operating revenue' arises among others from the sales of publications by the Publications Office. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2020 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series Annual Operating Expenses for the Class are not more than 1.99% of the Class average net assets for such annual period. Indeed, retailers tend to generate other operating income in excess of 14% of total operating income, as shown in Figure 69. Any operating revenues not otherwise provided for in this Section 8, shall be prorated between Buyer and Seller as of Closing; but no proration shall be made of any rents or . 12,438. Operating revenue is the total cash inflow from your primary income-generating activity. TIF Revenues means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act. Non-operating income is also displayed below operating income on the income statement. Miscellaneous other operating income . TIF Revenues means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act. Nevertheless, both revenue and operating income are essential in analyzing whether a company is performing well. Sales 696,500. INCOME STATEMENT. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Operating revenue is the revenue that a company generates from its primary business activities. In many cases it involves the sale of assets. Revenueis often calledthe "top line" because it's locatedat the topof theincome statement. He is an expert on personal finance, corporate finance and real estate and has assisted thousands of clients in meeting their financial goals over his career. For a receiving district, if school operating taxes are to be levied on behalf of a dissolved district that has been attached in whole or in part to the receiving district to satisfy debt obligations of the dissolved district under section 12 of the revised school code, MCL 380.12, local school operating revenue does not include school operating taxes levied within the geographic area of the dissolved district. OTHER OPERATING INCOME Other operating revenue is recognized on accrual basis. In contrast, operating incomeis a company's profitafter subtractingoperating expenses, which are the costs of running the daily business. We would argue that this is not a recurring income source and should be discounted. It refers to the sum generated before any expensessuch as those involved in running the. CAISO Revenues means the net amount resulting from (a) the credits and other payments received by Buyer, as Sellers Scheduling Coordinator, as a result of test energy from the Project delivered by Seller during the Test Period, including revenues associated with CAISO dispatches and (b) the debits, costs, penalties and interest that are directly assigned by the CAISO to the CAISO Global Resource ID for the Project for, or attributable to, scheduling and deliveries from the Project under this Agreement, which amount may result in a negative or positive value. 1 vote. Other operating revenue comprises irregular expenses not related to the principal activity.Interest expenses are recognised as financial expenses of the reporting period on the accrual basis. Adjusted Net Operating Income or Adjusted NOI means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments: Consolidated Operating Income means, for any period, Consolidated Gross Profit less Consolidated Operating Expenses of the Company and its Restricted Subsidiaries determined on a consolidated basis in accordance with GAAP and as calculated consistent with the manner disclosed by the Company in its Annual Report on Form 10-K for the fiscal year ended December 26, 2009. Operating income includes: Gross income (revenues minus cost of sales), Distribution costs, Administrative expenses, Other operating revenue, Other operating expenses, and Other gains/losses. Gross income represents the total income from all sources, including returns, discounts, and allowances, before deducting any expenses or taxes. 30). Note that: To sum up: J.C. Penney earned$116 millionin operating income while earning$12.5 billion in total revenue. If you just considered Penney's revenue in 2017, it would seem it could carry its $325 million in interest payments with no problem. 2,455 . One subtracts the operating expense from . Operating income is a company's income after subtracting operating expenses and other costs from total revenue. Operating Margin vs. EBITDA: What's the Difference? Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series statement of operations in accordance with generally accepted accounting principles. Also excluded: any special or nonrecurring items, such as cash paid for a lawsuit settlement. Foreign exchange gains mainly comprise gains from changes in exchange rates between the dates of recognition and payment of receivables and liabilities denominated in foreign currencies, as well as exchange rate gains resulting from measurement at the closing rate. Adjusted Net Operating Income or Adjusted NOI means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments: Consolidated Operating Income means, for any period, Consolidated Gross Profit less Consolidated Operating Expenses of the Company and its Restricted Subsidiaries determined on a consolidated basis in accordance with GAAP and as calculated consistent with the manner disclosed by the Company in its Annual Report on Form 10-K for the fiscal year ended December 26, 2009. Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning May 1, 2017 and ending April 30, 2018 (the Period), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series Annual Operating Expenses for its Service Class of shares (the Class) are not more than 1.49% of the Class average net assets for the Period. Companies earn money through the sale of their products and services, which is why operating income and revenue are important metrics. Andy Smith is a Certified Financial Planner (CFP), licensed realtor and educator with over 35 years of diverse financial management experience. Non-operating revenue refers to earnings that are generated from sources other than core operations. Even so, the disparity between the revenue number and the operating income number is striking. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. This means that in addition to considering operating expenses, net profit also represents all other expenses to determine how much your net profit is. Alone, the $12.5 billion inrevenue appearsimpressive at the onset, but when factoring in expenses, the operating income was only $116 million. Similarly, these expenses do not depend on sales or production levels. Most comprehensive library of legal defined terms on your mobile device, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. net non-operating income means the difference between: Approved Operating Expenses means Operating Expenses incurred by Borrower which (i) are included in the Approved Annual Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property, (iii) if applicable, are for property management fees payable to Manager under the Management Agreement, such amounts not to exceed three percent (3.0)% of the monthly Gross Revenue, (iv) or (v) have otherwise been approved by Lender. To begin receiving GMT News in your inbox, please confirm your name and email address in the boxes below. Recurring Revenue means, with respect to any Eligible Loan Assets that are Recurring Revenue Loans, the definition of annualized recurring revenue used in the Underlying Instruments for each such Eligible Loan Asset, or any comparable term for Revenue, Recurring Revenue or Adjusted Revenue in the Underlying Instruments for each such Eligible Loan Asset or if there is no such term in the Underlying Instruments, all recurring maintenance, service, support, hosting, subscription and other revenues identified by the Servicer (including, without limitation, software as a service subscription revenue), of the related Obligor and any of its parents or Subsidiaries that are obligated with respect to such Eligible Loan Asset pursuant to its Underlying Instruments (determined on a consolidated basis without duplication in accordance with GAAP). Operating income can be obtained by subtracting the production cost and overhead from the total revenue earned from operations. Net sales for the first quarter increased 8.1 percent, to $53.44 billion from $49.42 billion last year. Bi tp chng 5 km gii vol 1 income from operations is gross profit less administrative expenses. ALL Rights Reserved. Operating income = Net Earnings + Interest Expense + Taxes Sample Calculation D Trump footwear company earned total sales revenues of $25M for the second quarter of the current year. The segment Other includes both Group eliminations as well as Other operating revenue not related to the identified segments. Other operating revenue mainly represents interconnection revenue. 4.3. Rating: 1. Operating Profit means the difference between the discounted revenues and the discounted operating costs over the economic lifetime of the investment, where this difference is positive. That's why you need to consider multiplemetrics in calculating the profitability of a company before investing. Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series statement of operations in accordance with generally accepted accounting principles. Revenue is the total amount of income generated by a company for the sale of its goods or services. Members of the Supervisory Board and Board of Management, Members of the Supervisory Board and Committees, The 12 Group Initiatives of the NEW AUTO Strategy, Results of Operations, Financial Position and Net Assets, Return on investment (ROI) and value contribution, ROI and value contribution in the reporting period, Economic activities of the Volkswagen Group, Passenger cars and light commercial vehicles, Exchange rate, interest rate and commodity price trends, Risks and opportunities from the macroeconomy, the sector, markets and sales, Opportunities and risks from mergers and acquisitions and/or other strategic partnerships/investments, Share of result of equity-accounted investments, Auditors report on the remuneration report. Investopedia requires writers to use primary sources to support their work. It focuses on revenue, expenses, gains, and losses. Notwithstanding anything to the contrary contained in this Lease, Tenants Proportionate Share of Operating Costs shall not include any costs and/or expenses incurred which solely benefit another building (and not the Building or Common Areas) in the Project. Other operated departments have always been a relatively minor source of revenue for most hotels. For a receiving district, if school operating taxes are to be levied on behalf of a dissolved district that has been attached in whole or in part to the receiving district to satisfy debt obligations of the dissolved district under section 12 of the revised school code, MCL 380.12, local school operating revenue does not include school operating taxes levied within the geographic area of the dissolved district. 339,950 Administrative expenses. Provision for income taxes (40800) Net income 220,250 Local school operating revenue means school operating taxes levied under section 1211 of the revised school code, MCL 380.1211. In other words, operating expenses are the costs that a company must make to perform its operational activities. After all, both these concepts are directly influenced by a business's sales and are also closely related. But when you see how small its operating income is, you realize this company could easily sink under the weight of its service obligationssomething to consider before purchasing its stock. Hi, there your sign-in link has expired, because you haven't used it. Claire Boyte-White is the lead writer for NapkinFinance.com, co-author of I Am Net Worthy, and an Investopedia contributor. How much a company is able to earn monthly, quarterly, or annually, is reflected in both its net revenue as well as its operating income. A portion of sales revenue may be paid in . Commonly referred to as your "bottom line" or "revenue," net income is usually the last line of your business's income statement. Operating Costs means any costs associated with the operation, management, maintenance, repair, replacement, and protection of the Building including, without limitation, costs of heating; cooling; utilities (including any taxes or impositions thereon); insurance; parking lot maintenance, repair, repaving, resurfacing and re-stripping; re-roofing; janitorial and cleaning service; lobby host, if any is provided by Landlord; security services, if any are provided by Landlord; salaries, wages, and other personnel costs of engineers, superintendents, watchmen, and other Building employees, and other employees of Landlord and the employees of Landlords agents and contractors allocable to Building or Project-related matters (provided, however, that to the extent that employees of Landlord or employees of Landlords agents are not assigned exclusively to the Building or the Project, then Operating Costs will include only the portion of their salaries, wages, and other personnel costs that Landlord allocates to the Building or the Project); charges under all Building and Project maintenance and service contracts, including contracts for chilled water and hot water, boilers, controls, elevators, security systems, exterior window cleaning, landscaping (including new plantings and irrigation), common areas, public areas, lobbies, and Building, Project and Land maintenance; costs of all maintenance and repair, including costs of all warranties included in contracts for the provision of materials or services to the Building to the extent the cost of such warranty is separately stated in such contract; costs of enforcing warranties; costs of supplies that are deducted (and not capitalized) for federal income tax purposes; management fees that are not in excess of the prevailing market rate management fees paid to management organizations managing Comparable Buildings; accounting costs and fees; costs incurred for attorneys or other third parties to appeal or contest Real Estate Tax assessments (as more fully provided in this Section 4), including the costs incurred to review the feasibility thereof; costs of cleaning, decorating, repairing, maintaining, replacing and operating any common areas in the Project; all other costs Landlord incurs to operate, service, maintain, repair and replace the Building, Land and Project; the cost of any capital improvements made by Landlord to the Building and/or Project, or capital assets acquired by Landlord after the Lease Commencement Date in order to comply with any local, state or federal law, ordinance, rule, regulation, code or order of any governmental entity or insurance requirement, including but not limited to, the Americans with Disability Act (each a Legal Requirement and collectively, the Legal Requirements) with which the Building and/or Project was not required to comply at the Lease Commencement Date, or to comply with any amendment or other change to the enactment or interpretation of any Legal Requirement from its enactment or interpretation at the time of the Lease Commencement Date; and the cost of any capital improvements made by Landlord to the Building and/or Project or capital assets acquired by Landlord after the Lease Commencement Date for the protection of health and safety of the occupants of the Building and/or Project or that are designed to reduce other Operating Costs; provided however, any and all costs of capital improvements or capital assets acquired which are includable in Operating Costs shall be amortized on a straight-line basis over the useful life of the asset, pursuant to Generally Accepted Accounting Principles. We just resent you an email. These include white papers, government data, original reporting, and interviews with industry experts. OOR means Other Operating Revenue. Net income after taxes is an accounting term most often found in an annual report, and used to show the company's definitive bottom line. . Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions. Sales - cost of goods sold - operating expenses = net income c. Net income + operating expenses = gross profit d. Operating expenses - cost of goods sold = gross profit. This latter red flag is triggered when the increase in other operating income /operating income exceeds the 80th percentile relative to the change experienced by GICS industry peers between 2010 and 2015. Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning May 1, 2017 and ending April 30, 2018 (the Period), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series Annual Operating Expenses for its Service Class of shares (the Class) are not more than 1.49% of the Class average net assets for the Period. Gross Income from Operations means all income, computed in accordance with GAAP, derived from the ownership and operation of the Properties from whatever source, including, but not limited to, the Rents, utility charges, escalations, service fees or charges, license fees, parking fees, rent concessions or credits, and other required pass-throughs, but excluding sales, use and occupancy or other taxes on receipts required to be accounted for by Mortgage Borrower to any Governmental Authority, refunds and uncollectible accounts, sales of furniture, fixtures and equipment, Insurance Proceeds (other than business interruption or other loss of income insurance), Awards, security deposits, interest on credit accounts, utility and other similar deposits, payments received under the Mortgage Interest Rate Cap Agreement, interest on credit accounts, interest on the Mortgage Reserve Funds, and any disbursements to Mortgage Borrower from the Mortgage Reserve Funds. Claire's expertise lies in corporate finance & accounting, mutual funds, retirement planning, and technical analysis. Exclude revenue from non-carrier activities such as packing and warehousing.Line 204: Other operating revenue Operating revenue not included in lines 201 through 203. Income from reversal of loss allowances on receivables and other assets, Income from reversal of provisions and accruals, Income from foreign currency hedging derivatives within hedge accounting, Gains on asset disposals and the reversal of impairment losses on noncurrent assets. The Advisers obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement. Other operating income includes revenue from all other operating activities which are not related to the principal activities of the company, such as gains/losses from disposals, interest income, dividend income, etc. Please note that this does not give you access to the content of our password protected website. U.S. Securities & Exchange Commission. OTHER OPERATING INCOME Other operating revenue is recognized on accrual basis. It is important to note that revenue does not necessarily mean cash received. 11 are offset by an increase in CCA OOR revenues due to the significant increase in number of CCA 12 customers and increased Connection Charge OOR. It's easy to forgive someone who interchanges the terms "operating income" and "revenue". Total Revenues means revenues from all taxes and fees, excluding revenue from funds managed by local government on behalf of a specific third party, and does not include the proceeds from borrowing or asset sales. Definition, Formula, Calculation, and Example, selling, general & administrative expense, Form 10-K/A-J.C. Penney Company Inc. for the Fiscal Year Ended Feb. 3, 2018, Revenueis the total amount of income generated by a company for the sale of its goods or services. Colicity Inc. is a blank check company. More. What does OOR mean? Companies can record it as part of their income statement to give an accurate number of how much money the company is making beyond its industry's normal scope. Please check your mailbox again. Other operating revenue means income from nonpatient care services to patients and from sales to and activities for persons other than patients which may include but are not limited to such activities as providing personal laundry service for patients, providing meals to persons other than patients, gift shop sales, or vending machine commissions. In other words, J.C, Penney posteda loss for theyear of $116 million after deducting the interest paid on its outstanding debt. We discuss why it is better to evaluate percentiles rather than average IT spending. If the company has other sources ofincome from investments, for example, theincome is not considered revenue since it wasn't the result ofthe primary business. Importantly, operating revenue on a balance sheet reflects only ordinary revenue rather than unexpected, one-time income. Revenue can also be earned by governments and nonprofits. You can learn more about the standards we follow in producing accurate, unbiased content in our. The disparity between these two figures can be an important barometer of a company's financial health. Published by Statista Research Department , Dec 5, 2022. Local school operating revenue means school operating taxes levied under section 1211 of the revised school code, MCL 380.1211. The operating costs include costs such as personnel costs, materials, contracted services, communications, energy, maintenance, rent, administration, but exclude depreciation charges and the costs of financing if these have been covered by investment aid. We also reference original research from other reputable publishers where appropriate. In the previous year, the contribution of AID to Argo AI at fair value resulted, after proportional profit elimination, in a non-cash gain of 0.8billion, which was recognized in the other operating result. Timothy has helped provide CEOs and CFOs with deep-dive analytics, providing beautiful stories behind the numbers, graphs, and financial models. Also, you'll notice that netincomethe actual profit of the company, also known as the bottom lineis actually a negative $116 million. The Advisers obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement. Income from other hedges includes primarily foreign exchange gains from the fair value measurement of financial instruments used to hedge exchange rates and commodity prices and that are not designated in a hedging relationship. Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. There are many ways to earn revenue, but the operating revenue is earned from the core business activities the organization undertakes in their main work. Report on Other Legal and Regulatory Requirements; Revenue; Previous year figures have been regrouped/ rearranged, wherever considered necessary to conform to current year's classification; Foreign Currency Translation Reserves (FCTR)Annual Report 2021-22; 000; FINANCIAL STATEMENTS; Notes to the Statement of Financial Performance; Securities . Gross Income from Operations means all income, computed in accordance with GAAP, derived from the ownership and operation of the Properties from whatever source, including, but not limited to, the Rents, utility charges, escalations, service fees or charges, license fees, parking fees, rent concessions or credits, and other required pass-throughs, but excluding sales, use and occupancy or other taxes on receipts required to be accounted for by Mortgage Borrower to any Governmental Authority, refunds and uncollectible accounts, sales of furniture, fixtures and equipment, Insurance Proceeds (other than business interruption or other loss of income insurance), Awards, security deposits, interest on credit accounts, utility and other similar deposits, payments received under the Mortgage Interest Rate Cap Agreement, interest on credit accounts, interest on the Mortgage Reserve Funds, and any disbursements to Mortgage Borrower from the Mortgage Reserve Funds. CAISO Revenues means the net amount resulting from (a) the credits and other payments received by Buyer, as Sellers Scheduling Coordinator, as a result of test energy from the Project delivered by Seller during the Test Period, including revenues associated with CAISO dispatches and (b) the debits, costs, penalties and interest that are directly assigned by the CAISO to the CAISO Global Resource ID for the Project for, or attributable to, scheduling and deliveries from the Project under this Agreement, which amount may result in a negative or positive value. Operating expenses, operating expenditures, or "opex," refers to the costs incurred by a business for its operational activities. Operating revenue is the total sum of a business's revenue earned from its primary business functions. Other Operating Income/Operating Income (%) Other operating income includes revenue from all other operating activities which are not related to the principal activities of the company, such as gains/losses from disposals, interest income, dividend income, etc. Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Operatingincome does not include money earnedfrom investments in other companies ornon-operating income, taxes,and interest expenses. Reporting lines in Other Operating Income - What has to be included in profit or loss and what should be included in other comprehensive income?. Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year. U.S. net farm income, a broad measure of farm profitability, is currently forecast at $160.5 billion, up 13.8%, or $19.5 billion, from 2021's $140.4 billion. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property. Operating Income vs. Net Income: What's the Difference? The answer is defined practical in IFRS (IAS 1 Presentation of Financial Statements, in 7 Definitions):Other comprehensive income (OCI) comprises items of income and expense (including reclassification adjustments) that are not recognised in profit . Notwithstanding the provisions of the immediately preceding sentence, the Series Annual Operating Expenses for the Class do not include acquired fund expenses, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are extraordinary as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. Revenue, as we said, refers to earnings before the subtraction of any costs or expenses. Other operating revenue is the revenue that is generated from other sources, such as the sale of products or services. Operating Revenue means in any single fiscal year during the effective term of this Agreement, the total revenue generated by Party B in its daily operation of business of that year as recorded under the Revenue of Principal Business in the audited balance sheet prepared in accordance with the PRC accounting standards. Operating revenue and non-operating revenue are often wrongly referred to as something similar. Notwithstanding the provisions of the immediately preceding sentence, the Series Annual Operating Expenses for the Class do not include acquired fund expenses, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are extraordinary as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. A company's revenue and its operating income can end up as two dramatically disparate numbers. Operating Costs means any costs associated with the operation, management, maintenance, repair, replacement, and protection of the Building including, without limitation, costs of heating; cooling; utilities (including any taxes or impositions thereon); insurance; parking lot maintenance, repair, repaving, resurfacing and re-stripping; re-roofing; janitorial and cleaning service; lobby host, if any is provided by Landlord; security services, if any are provided by Landlord; salaries, wages, and other personnel costs of engineers, superintendents, watchmen, and other Building employees, and other employees of Landlord and the employees of Landlords agents and contractors allocable to Building or Project-related matters (provided, however, that to the extent that employees of Landlord or employees of Landlords agents are not assigned exclusively to the Building or the Project, then Operating Costs will include only the portion of their salaries, wages, and other personnel costs that Landlord allocates to the Building or the Project); charges under all Building and Project maintenance and service contracts, including contracts for chilled water and hot water, boilers, controls, elevators, security systems, exterior window cleaning, landscaping (including new plantings and irrigation), common areas, public areas, lobbies, and Building, Project and Land maintenance; costs of all maintenance and repair, including costs of all warranties included in contracts for the provision of materials or services to the Building to the extent the cost of such warranty is separately stated in such contract; costs of enforcing warranties; costs of supplies that are deducted (and not capitalized) for federal income tax purposes; management fees that are not in excess of the prevailing market rate management fees paid to management organizations managing Comparable Buildings; accounting costs and fees; costs incurred for attorneys or other third parties to appeal or contest Real Estate Tax assessments (as more fully provided in this Section 4), including the costs incurred to review the feasibility thereof; costs of cleaning, decorating, repairing, maintaining, replacing and operating any common areas in the Project; all other costs Landlord incurs to operate, service, maintain, repair and replace the Building, Land and Project; the cost of any capital improvements made by Landlord to the Building and/or Project, or capital assets acquired by Landlord after the Lease Commencement Date in order to comply with any local, state or federal law, ordinance, rule, regulation, code or order of any governmental entity or insurance requirement, including but not limited to, the Americans with Disability Act (each a Legal Requirement and collectively, the Legal Requirements) with which the Building and/or Project was not required to comply at the Lease Commencement Date, or to comply with any amendment or other change to the enactment or interpretation of any Legal Requirement from its enactment or interpretation at the time of the Lease Commencement Date; and the cost of any capital improvements made by Landlord to the Building and/or Project or capital assets acquired by Landlord after the Lease Commencement Date for the protection of health and safety of the occupants of the Building and/or Project or that are designed to reduce other Operating Costs; provided however, any and all costs of capital improvements or capital assets acquired which are includable in Operating Costs shall be amortized on a straight-line basis over the useful life of the asset, pursuant to Generally Accepted Accounting Principles. 1 Residential $1,302 $2,509 $2,908 Account Name Gross Margin vs. This was a significant increase as . For example, the meals sold by a restaurant would generate operating revenue, while the sale of its delivery van would instead generate a gain or loss. Other Operating Revenues. Exclude revenue from non-carrier activities such as packing and warehousing.Line 204: Other operating revenue Operating revenue not included in lines 201 through 203. Technically, net sales refer to revenue minus any returns of purchased merchandise. OOR stands for Other Operating Revenue (also Out . Operating income is the income you have after subtracting the costs of doing business. Suggest. Below is an example where operating income and revenue are highlighted to illustrate the differences between the two figures. In most cases, these will include immaterial or insignificant accounts. In accounting, the terms "sales" and "revenue" can be, and often are, used interchangeably to mean the same thing. Other income and expenses 24,750 Net income before income taxes 261,050. 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