ADT 2015 Annual Report Download - page 66

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GAAP TO NON-GAAP RECONCILIATIONS—CONTINUED
(Unaudited)
SSFCF Before Special Items
For the Quarters Ended
($ in millions) September 25,
2015 September 26,
2014
Last quarter, annualized pre-SAC EBITDA before special items $ 2,268 $ 2,264
SAC required to maintain recurring revenue (1) (1,262) (1,288)
Maintenance capital expenditures (10) (10)
SSFCF before special items $ 996 $ 966
(1) SAC required to maintain recurring revenue is calculated as follows:
For the Quarters Ended
($ in millions) September 25,
2015 September 26,
2014
Last quarter average recurring revenue under contract for the period $ 278 $ 273
Trailing twelve month disconnects net of price escalation (2) 14.5% 14.7%
Last quarter gross recurring revenue creation multiple (3) 31.3 32.1
SAC required to maintain recurring revenue $ 1,262 $ 1,288
(2) Average trailing twelve month recurring revenue disconnected net of price escalations. Disconnects account for dealer chargebacks.
(3) Gross creation cost includes amount held back from dealers for chargebacks.
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