Maxar Technologies reports fourth quarter and year end 2017 results

 

Reconciliation of Pro Forma Adjusted EBITDA to Pro Forma Adjusted Earnings and Pro Forma Net Earnings:

The following table reconciles pro forma adjusted EBITDA and pro forma adjusted earnings to pro forma net earnings for the last eight quarters.










($ millions)

Q4
2017

Q3
2017

Q2
2017

Q1
2017

Q4
2016

Q3
2016

Q2
2016

Q1
2016










Pro forma adjusted EBITDA

184.9

189.1

187.3

178.0

185.4

180.6

188.0

184.3

Net finance expense

(47.8)

(49.1)

(50.2)

(47.0)

(38.0)

(36.9)

(38.0)

(42.1)

Depreciation and amortization1

(56.5)

(52.3)

(52.5)

(50.7)

(47.0)

(48.0)

(50.0)

(54.0)

Income tax expense on adjusted earnings

(13.5)

(14.8)

(14.3)

(13.6)

(11.9)

(12.2)

(12.7)

(10.9)

Pro forma adjusted earnings

67.1

72.9

70.3

66.7

88.5

83.5

87.3

77.3

Adjusted earnings per share

1.18

1.28

1.24

1.17

1.56

1.47

1.54

1.36

Items affecting comparability:









Share-based compensation expense

(12.6)

(11.2)

(7.7)

(11.4)

(0.1)

(2.8)

(23.2)

(7.0)

Amortization of acquisition related intangible assets

(57.8)

(58.6)

(58.6)

(58.6)

(56.6)

(57.1)

(56.6)

(56.6)

Interest expense on dissenting shareholder liability

(1.9)

(1.9)

(1.8)

(1.7)

(1.7)

(1.7)

(1.7)

(1.7)

Loss from early extinguishment of debt

-

-

-

(0.5)

(35.7)

-

-

-

Restructuring and enterprise improvement costs

(20.5)

(1.3)

(4.9)

(11.1)

(3.8)

(3.2)

(2.3)

(7.4)

Executive compensation settlement

-

-

-

-

-

-

(2.3)

-

Foreign exchange differences

1.3

0.3

9.8

0.1

(5.4)

1.5

(1.7)

2.9

Earnings (loss) from joint ventures

(1.1)

0.1

0.8

-

(0.4)

(1.3)

(1.3)

(0.9)

Income tax expense adjustment

3.0

28.1

33.0

11.4

7.3

27.7

17.3

19.6

Pro forma net earnings (loss)

(22.5)

28.4

40.9

(5.1)

(7.9)

46.6

15.5

26.2

1 Excludes amortization of acquisition related intangible assets.


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