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Use the excerpt below to answer this question. Under the Incentive Plan for executives other than Mr. Grissen, what is the target diluted EPS performance

image text in transcribed Use the excerpt below to answer this question. Under the Incentive Plan for executives other than Mr. Grissen, what is the target diluted EPS performance required for a target payment? Please express the answer as a dollar value. Please answer as a dollar value (Example: $0.00 rather than 0.00 ). For readability, the text in the image below is presented here: For 2012, the Company established the diluted EPS target primarily through an extensive annual budgeting process whereby each hotel and individual corporate unit developed and submitted a budget. The Company then developed a consolidated Company budget considering external market factors such as global and domestic economic forecasts and lodging industry outlook, as well as internal factors such as the current revenue from group bookings, expected unit growth for the year, and expected capital needs. The Board reviewed and approved the budget in February 2012. Considering these factors, the Committee set the diluted EPS target for 2012 at a level that the Committee believed was achievable but not certain to be met, which was $1.53. This target was higher than the Company's reported GAAP diluted EPS for 2011 of $0.55 and the Company's 2011 adjusted diluted EPS of $1.36, which reflected adjustments for costs and charges recorded when preparing the Company's timeshare business for the spin-off (see page 31 of the proxy statement filed with the SEC on March 30,2012, for a reconciliation of adjusted EPS for 2011). Mr. Grissen's 2012 Americas operating profit target was $972 million. For 2012, each NEO, other than Mr. Grissen, was eligible to receive an annual cash incentive based on the Company's achieved level of diluted EPS performance, as follows: * For 2012, the Company cstablishod the diluted EPS target primarily throngh an extensive antrual budgcting process whereby each hotcl and individual corporate unit developod and subenittod a budget. The Company then developed a consolidated Company budget considering extemal market factors such as global and doenestic economic forecasts and lodging indastry outlook, as well as internal factors sach mis currear revenue froen group bocking, expected unit growth for the year, and expected capital needs. The Boasd reviewed and appoved the bodget in Fetruary 2012 . Considering these factors, the Committee set the diluded EPS target for 2012 at a lovel that the Commilloc believed was achicvable but not ecrtaia to be mat, which was \$1.53. This target was higher than the Company's reporied GAAP diluied EPS for 2011 of $0.55 and the Cempany's 2011 adjusted diluted EPS of $1.36, which reflected adjusimenis for costs and charges recorded when preparing the Company"s timeshare basiness for the spin-eff (see page 31 of the proxy statement filed with the SEC an March 30, 2012, for a reconciliation of adjusted E.PS for 2011). Mr. Grissen's 2012 Americas operating profit target was $972 million. For 2012, cach NEO, other than Mr. Grissen, was eligible to receive in annual eash incentive based on the Company's achieved level of diluted EPS performasce, as followx

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