**These are the calculations of ratios for quarterly and annually reportus listing the input parameters, calculation, calculation condition, and exception rules. **

**Current Ratio (Below calculations are both for quarterly and Annual reports)**

Input -

Current Assets

Current Liabilities

Calculation -

Current Assets/Current Liabilities

Calculation Condition -

Uses same filing period data.

Exception Rules -

Input DataValue > 0 set in calculation. If Current Assets or Current Liabilities is not available or ≤0, this Ratio Null.

**Long Term Debt Equity Ratio (Below calculations are both for quarterly and Annual reports)**

Input -

Long-Term Debt and Capital Lease Obligation

Common Stock Equity

Calculation -

Long-Term Debt and Capital Lease Obligation / Common Stock Equity

Calculation Condition -

Uses same filing period data.

Exception Rules -

If Long-Term Debt and Capital Lease Obligation ≤ 0 or Common Stock Equity ≤0, this Ratio Null.

**Normalized Net Profit Margin (Below calculations are both for quarterly and Annual reports)**

Input -

Normalized Income

Total Revenue

Calculation -

Normalized Income / Total Revenue

Exception Rules -

If Total Revenue =0 , this Ratio Null.

**Receivable Turnover (Below calculations are both for quarterly and Annual reports)**

Input -

Total Revenue

Average Receivables

Calculation -

Total Revenue /Average Receivables

Calculation Condition -

Where Average Receivables = (r0. Accounts Receivable + r1. Accounts Receivable)/2

r0. Current period;

r1. Previous period

Uses same filing period data.

Exception Rules -

If Total Revenue ≤ 0 or average Receivables ≤ 0, this Ratio NullIf Accounts Receivable is not available in original reports, back-up logic used to calculate Accounts Receivable:

Account Receivable = Receivables - Loans Receivable - Notes Receivables - Accrued Interest receivable - Taxes Receivable - Receivable adjustments/allowances.

**Inventory Turnover (Below calculations are both for quarterly and Annual reports)**

Input -

Cost of Revenue

Average Inventories

Calculation -

Cost of Revenue/Average Inventories

Calculation Condition -

Where Average Inventories = (r0. Inventories + r1. Inventories)/2

r0. Current period;

r1. Previous period

Uses same filing period data.

Exception Rules -

If Total Revenue ≤ 0 or average Inventories ≤ 0, this Ratio Null.

**Return on Equity (Below calculations are both for quarterly and Annual reports)**

Input -

Net Income Available to Common Stockholders

Average Equities

Calculation -

Net Income Available to Common Stockholders / Average Equities

Calculation Condition -

Where Average Equities = (r0. Common Stock Equity + r1. Common Stock Equity)/2

r0. Current period;

r1. Previous period

Uses same filing period data.

Exception Rules -

If average Equities ≤ 0, this Ratio Null.

If Net Income Available to Common Stockholders not available, will turn to Net Income as back up data ID.

**Return on Assets (Below calculations are both for quarterly and Annual reports)**

Input -

Net Income Available to Common Stockholders

Average Assets

Calculation -

Net Income Available to Common Stockholders / Average Assets

Calculation Condition -

Where Average Assets = (r0. Total Assets + r1. Total Assets)/2

r0. Current period;

r1. Previous period

Uses same filing period data.

Exception Rules -

If average Assets ≤ 0, this Ratio Null.

If Net Income Available to Common Stockholders not available, will turn to Net Income as back up data ID.

**Return on Investment Capital (Below calculations are both for quarterly and Annual reports)**

Input -

Net Income Available to Common Stockholders

Interest Expenses

Tax rate

Interest and Dividend Income

Invested Capital

Calculation -

[Net income + ((Interest Expense – Interest and Dividend Income) * (1-Tax Rate for Calculations))] / Invest Cap

Calculation Condition -

Where Average Equities = (r0. Common Stock Equity + r1. Common Stock Equity)/2

Average Long-Term Debt and Capital Lease Obligation= (r0. Long-Term Debt and Capital Lease Obligation + r1. Long-Term Debt and Capital Lease Obligation)/2

Average Current Debt and Capital Lease Obligation = (r0. Current Debt and Capital Lease Obligation + r1. Current Debt and Capital Lease Obligation)/2

r0. Current period;

r1. Previous period

Uses same filing period data

Exception Rules -

If Invested Capital ≤ 0, this Ratio Null.

If Net Income Available to Common Stockholders not available, will turn to Net Income as back up data ID.

Total equity, long debt, current debt would be counted in invested capital only if there’s value in current period else Avg for all three would be 0.

Special Logic -

o If any company changes its template to B & I, then there would no ROIC value for all filings.

o If any company changes its template from B or I, the calculation will trigger for both upcoming filing and historical periods.(So all filings will have ROIC when raw data is available.)