ADT 2012 Annual Report Download - page 20

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EBITDA
($ in millions) FY 2012 FY 2011
NET INCOME (GAAP) $ 394 $ 376
INTEREST EXPENSE, NET 92 89
INCOME TAX EXPENSE 236 228
DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION 871 825
AMORTIZATION OF DEFERRED SUBSCRIBER ACQUISITION COSTS 111 102
AMORTIZATION OF DEFERRED SUBSCRIBER ACQUISITION REVENUE (120) (114)
EBITDA $1,584 $1,506
RESTRUCTURING, NET 4—
INTEGRATION COSTS 14 28
SEPARATION COSTS 7—
EBITDA BEFORE SPECIAL ITEMS $1,609 $1,534
EBITDA MARGIN BEFORE SPECIAL ITEMS 49.8% 49.3%
SSFCF
($ in millions) FY 2012 FY 2011
NET CASH PROVIDED BY OPERATING ACTIVITIES $1,493 $1,439
SUBSCRIBER SYSTEM ASSETS (378) (290)
CAPITAL EXPENDITURES (61) (31)
DEALER GENERATED CUSTOMER ACCOUNTS REQUIRED
TO MAINTAIN RECURRING REVENUE (241) (280)
INTEREST PAID 83 84
INCOME TAXES PAID, NET OF REFUNDS 30 16
SSFCF $ 926 $ 938
RESTRUCTURING, NET 38
INTEGRATION COSTS 14 18
SEPARATION COSTS 9—
SSFCF BEFORE SPECIAL ITEMS $ 952 $ 964
18 ADT 2012 ANNUAL REPORT