definiens: means with respect to Licensed Products, the gross amount billed andlor invoiced by Licensee, its Affiliates and any Sub - licensee for the sale or transfer of such Licensed Products to Third Parties, less ( a ) bad debts related to such Licensed Products and ( b ) sales returns and allowances actually paid, granted or accrued, including, trade, quantity and cash discounts and any other adjustments, including, those granted on account of price adjustments, billing errors, rejected goods, damaged or defective goods, recalls, returns, rebates, chargeback rebates, reimbursements or similar payments granted or given to wholesalers or other distributors, buying groups, health care insurance carriers or other institutions, adjustments arising from consumer discount programs or other similar programs, customs or excise duties, sales tax, consumpt ion tax, value added tax, and other taxes ( except income taxes ) or duties relating to sales, any payment in respect of sales to the United States government, any state government or any foreign government, or to any other Governmental Authority, or with respect to any government­subsidized program or managed care organization, and customary transportation charges including but not limited to freight and insurance ( to the extent that Licensee bears the cost of such transportation charges for a Licensed Product ) and any other adjustments made in accordance with International Financial Reporting Standards or such other recognized accounting standards being used at the relevant time