Net income is economic net income, and fee-related earnings are net fee-related earnings.
* Private earnings - fees for medical examinations, travel vaccinations, etc - amounting to a few thousand pounds per head, are included in these figures.
The managers and their companies, rather than investors, capture the value of the total market earnings and fees charged to investors.
A small quantity of copra is produced for export, the sale of stamps accounts for modest earnings, and fees are collected from foreign fishing fleets, but the country depends heavily on foreign aid.
The decision, which follows poor second-quarter earnings, mounting fees, fines and settlements as a result of the continuing Justice Department investigation into price-fixing with Christie's, is just one more cost-cutting measure.
Frederick W. Buckman, the company's president and chief executive, said that the utility would take a charge of $86 million from first-quarter earnings for fees, legal expenses and other costs.
Nationwide, in turn, used earnings from fees paid by the state employees to pay for union officials to take a Napa Valley vineyard tour, attend a Broadway show and a Chicago Cubs baseball game, take a dinner cruise, receive first-class airfare and to help cover the cost of the union boss' $375,000 salary.
The company said the loss resulted from $1.045 billion in one-time after-tax charges related to reinsurance operations; lower earnings from fee-for-service health insurance; and higher losses on investments of reserves.
Over 90% of earnings are fee based.
Because of this, operating costs must be covered by grants and donations from various sponsors, as well as retained earnings from fee-for-service work.
