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GAAP TO NON-GAAP RECONCILIATIONS—CONTINUED
(Unaudited)
Recurring Revenue, at Constant Currency, Excluding Other Adjustments
For the Twelve
Months Ended
($ in millions) September 25,
2015
Recurring revenue $3,323
Other revenue 251
Total revenue $3,574
Recurring revenue $3,323
Foreign exchange impact (1) 31
Other adjustments (2) (16)
Recurring Revenue, at constant currency, excluding other adjustments $3,338
(1) Constant currency results above are calculated by translating current period amounts in local currency using a budgeted currency conversion rate.
(2) Adjustments related to items which were not contemplated in the annual incentive plan target setting process.
(Unaudited)
Constant Currency Reconciliations
For the Twelve Months Ended
($ in millions) September 25,
2015 September 26,
2014
Recurring Revenue:
Recurring revenue as reported $3,323 $3,152
Recurring revenue at constant currency using budgeted rates (1) $3,354 $3,152
Recurring revenue at constant currency (2) $3,356 $3,152
EBITDA before special items:
EBITDA before special items as reported $1,808 $1,767
EBITDA before special items at constant currency using budgeted rates (1) $1,823 $1,767
EBITDA before special items at constant currency (2) $1,824 $1,767
Steady-state free cash flow before specials:
Steady-state free cash flow before special items $ 996 $ 966
Steady-state free cash flow before specials at constant currency (2) $1,006 $ 966
(1) Constant currency results above are calculated by translating current period amounts in local currency using a budgeted currency conversion rate.
(2) Constant currency results above are calculated by translating current period amounts in local currency using the prior comparable period’s currency conversion rate.
58 The ADT Corporation 2016 Proxy Statement
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