Latest return on average assets represents income before extraordinary items for the most recent year divided by average assets for the most recent year. Average return on average assets represents a summation of income before extraordinary items for the previous five fiscal years divided by a summation of average assets for the previous five years. In calculating return on average assets, we have selected income before extraordinary items to represent the numerator in the equation. Using an income number that excludes extraordinary items focuses on the recurring income stream. Income that includes one time charges is misleading on a forward-looking basis.
Total assets represents current assets plus net plant plus other non-current assets.