Non-management employees who earn their pay by the hour generally are non-exempt too, even if they earn $455 or more per week. Such employees are commonly referred to as hourly non-exempt. Update: The U.S. Department of Labor (DOL) increased the salary threshold from $455 to $913 per week ($47,476 per year).
DEFINITION of 'Interest Expense'. The cost incurred by an entity for borrowed funds. Interest expense is a non-operating expense shown on the income statement. It represents interest payable on any type of borrowings â bonds, loans, convertible debt or lines of credit. It is basically calculated as the interest rate times the outstanding principal amount of the debt. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest actually paid over that period.
Operating Expense Ratio. The Operating Expense Ratio (OER) is the ratio of the total operating expenses and the effective gross income of the property. Operating expenses are costs associated with the operation and maintenance of the property. Typical property expenses include such items as property taxes, insurance, pest control, utilities, repairs and maintenance, supplies, advertising, attorney fees, accounting fees, and lawn maintenance. Operating expenses do not include loan payments, mortgage insurance payments, or capital improvements.