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Tortoise Energy Independence Fund, (Tortoise Energy Independence Fund,) Scaled Net Operating Assets : 1.05 (As of Nov. 2023)


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What is Tortoise Energy Independence Fund, Scaled Net Operating Assets?

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tortoise Energy Independence Fund,'s operating assets for the quarter that ended in Nov. 2023 was $68.16 Mil. Tortoise Energy Independence Fund,'s operating liabilities for the quarter that ended in Nov. 2023 was $0.30 Mil. Tortoise Energy Independence Fund,'s Total Assets for the quarter that ended in May. 2023 was $64.42 Mil. Therefore, Tortoise Energy Independence Fund,'s scaled net operating assets (SNOA) for the quarter that ended in Nov. 2023 was 1.05.

Tortoise Energy Independence Fund, Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tortoise Energy Independence Fund,'s Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Nov. 2023 is calculated as

Scaled Net Operating Assets (SNOA)(A: Nov. 2023 )
=(Operating Assets (A: Nov. 2023 )-Operating Liabilities (A: Nov. 2023 ))/Total Assets (A: Nov. 2022 )
=(68.156-0.303)/71.059
=0.95

where

Operating Assets(A: Nov. 2023 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=68.156 - 0
=68.156

Operating Liabilities(A: Nov. 2023 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9.103 - 8.8 - 0
=0.303

Tortoise Energy Independence Fund,'s Scaled Net Operating Assets (SNOA) for the quarter that ended in Nov. 2023 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Nov. 2023 )
=(Operating Assets (Q: Nov. 2023 )-Operating Liabilities (Q: Nov. 2023 ))/Total Assets (Q: May. 2023 )
=(68.156-0.303)/64.422
=1.05

where

Operating Assets(Q: Nov. 2023 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=68.156 - 0
=68.156

Operating Liabilities(Q: Nov. 2023 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9.103 - 8.8 - 0
=0.303

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tortoise Energy Independence Fund, (Tortoise Energy Independence Fund,) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Tortoise Energy Independence Fund, Inc. (NYSE:NDP) » Definitions » Scaled Net Operating Assets
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Traded in Other Exchanges
N/A
Address
6363 College Boulevard, Suite 100A, Overland Park, KS, USA, 66211
Website
https://www.tortoiseecofin.com
Tortoise Energy Independence Fund, Inc. is a non-diversified closed-end management investment company. Its primary investment objective to seek a high level of total return with an emphasis on current distributions. The fund invests primarily in equity securities of upstream North American energy companies that engage in the exploration and production of crude oil, condensate, natural gas and natural gas liquids that generally have a presence in North American oil and gas fields, including shale reservoirs.
Executives
Ciccotello Conrad S director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Jennifer Paquette director 5100 W. 115TH PLACE, LEAWOOD KS 66211
H Kevin Birzer director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Rand C Berney director 11550 ASH STREET, SUITE 300, LEAWOOD KS 66211
Alexandra Herger director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Matthew Sallee other: Member of Investment Committee 5100 W. 115TH PLACE, LEAWOOD KS 66211
P. Bradley Adams officer: Chief Financial Officer 5100 W. 115TH PLACE, LEAWOOD KS 66211
Brian Alan Kessens other: Member of Investment Committee 5100 W. 115TH PLACE, LEAWOOD KS 66211
Shobana Gopal officer: Vice President 5100 W. 115TH PLACE, LEAWOOD KS 66211
Sean Paul Wickliffe officer: Vice President & Asst Treas. 6363 COLLEGE BOULEVARD, OVERLAND PARK KS 66211
Investors, Llp Bulldog 10 percent owner PARK 80 WEST - PLAZA TWO, 250 PEHLE AVE. SUITE 708, SADDLE BROOK NJ 07663
Phillip Goldstein 10 percent owner 60 HERITAGE DRIVE, PLEASANTVILLE NY 10570
Andrew Dakos 10 percent owner 250 PEHLE AVE., SUITE 708, SADDLE BROOK NJ 07663
Aristides Fund Qp, Lp 10 percent owner 118 EAST MAIN STREET, SUITE 600, LOUISVILLE KY 40202
Aristides Fund Lp 10 percent owner C/O ARISTIDES CAPITAL LLC, 118 EAST MAIN STREET, SUITE 600, LOUISVILLE KY 40202