X » Topics » Return on Capital Employed (ROCE)

This excerpt taken from the X DEF 14A filed Mar 14, 2008.

Return on Capital Employed (ROCE)

Return on Capital Employed accounts for 80 percent of an executive's overall target award. It is calculated annually (excluding charges or credits for business dispositions, acquisitions, asset sales, asset impairments, and workforce reductions) by dividing our annual income from operations by average capital employed in the business. Capital employed is calculated using quarterly averages of the sum of receivables; inventories; net property, plant and equipment; less accounts payable.

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This excerpt taken from the X DEF 14A filed Mar 9, 2007.

Return on Capital Employed (ROCE)

Return on Capital Employed accounts for 80 percent of an executive's overall target award. It is calculated annually by dividing our annual income from operations (excluding certain major charges or credits for items such as business dispositions, asset sales, asset impairments, and workforce reductions) by average capital employed in the business. Capital employed is calculated using quarterly averages of the sum of receivables; inventories; net property, plant and equipment; less accounts payable. For 2006, the performance range established for the ROCE measure was 7.5 percent to 22.5 percent with a target performance of 15 percent.

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