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
|
Q3
|
Q2
|
Q1
|
Q4
|
Q3
|
Q2
|
Q1
|
|
|
|
|
|
|
|
|
|
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. |