Definition of "operating" []

• In operation (adjective)
• That operates (adjective)
• Involved in an operation (adjective)
• Present participle of operate. (verb)

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• "If you exclude realized gains and losses from both periods, our title operating margins improved dramatically from 7.8% last year to 12.2% this year."
• "I think this is what you call operating without a hint of shame."
• "But my recollection of Fischer Black is that he was more focused on what I call operating leverage, not financial leverage."