ADT 2014 Annual Report Download - page 59

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GAAP TO NON-GAAP RECONCILIATIONS
THE ADT CORPORATION
GAAP to Non-GAAP Reconciliations
(Unaudited)
EBITDA Before Special Items and EBITDA (pre-SAC) Before Special Items
For the
Quarter Ended
For the
Twelve
Months Ended
For the
Twelve
Months Ended
($ in millions) September 26,
2014 September 26,
2014 September 27,
2013
Net Income (GAAP) $ 82 $ 304 $ 421
Interest expense, net 50 192 117
Income tax expense 27 128 221
Depreciation and intangible asset amortization 273 1,040 942
Amortization of deferred subscriber acquisition costs 33 131 123
Amortization of deferred subscriber acquisition revenue (40) (151) (135)
EBITDA $ 425 $ 1,644 $ 1,689
Restructuring and other, net 2 17 (1)
Acquisition and integration costs 4 7 2
Radio conversion costs 17 44 —
Non-recurring separation costs 7 17 23
Separation related other expense (income)(1) 3 38 (23)
EBITDA before special items $ 458 $ 1,767 $ 1,690
EBITDA margin before special items 51.9% 51.8% 51.1%
Subscriber acquisition cost expenses net of related revenue 108
EBITDA before special items (pre-SAC) 566
Impact of Reliance Protection on EBITDA before special items (pre-SAC) (15)
EBITDA before special items (pre-SAC), excluding Reliance Protection $ 551
(1) Relates to the 2012 Tax Sharing Agreement between Tyco, ADT and Pentair.
The ADT Corporation 2015 Proxy Statement 51
PROXY STATEMENT