Earthlink 2015 Annual Report Download - page 53

Download and view the complete annual report

Please find page 53 of the 2015 Earthlink annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

Table of Contents
The following table presents a reconciliation of Unlevered Free Cash Flow to the most closely related financial measure reported under GAAP for the years ended
December 31, 2013, 2014 and 2015 :
Year Ended December 31,
2013
2014
2015
(in thousands)
Net loss $ (538,827)
$ (72,752)
$ (43,210)
Interest expense and other, net 58,606
56,261
50,972
Income tax provision (benefit) 211,231
(4,744)
2,730
Depreciation and amortization 183,114
186,872
188,315
Stock-based compensation expense 13,275
12,600
14,594
Impairment of goodwill and long-lived assets 255,599
14,334
—
Restructuring, acquisition and integration-related costs 40,030
20,088
19,320
Loss on extinguishment of debt 2,080
—
9,734
Loss from discontinued operations, net of tax 1,961
381
—
Purchases of property and equipment (143,614)
(102,863)
(87,468)
Unlevered Free Cash Flow $ 83,455
$ 110,177
$ 154,987
The following table presents a reconciliation of Unlevered Free Cash Flow, as a liquidity measure, to net cash provided by operating activities for the years ended
December 31, 2013, 2014 and 2015 :
Year Ended December 31,
2013
2014
2015
(in thousands)
Net cash provided by operating activities $ 124,156
$ 139,995
$ 167,448
Income tax provision (benefit) 211,231
(4,744)
2,730
Non-cash income taxes (212,870)
(591)
(677)
Interest expense and other, net 58,606
56,261
50,972
Amortization of debt discount, premium and issuance costs (2,061)
(4,104)
(3,703)
Restructuring, acquisition and integration-related costs 40,030
20,088
19,320
Changes in operating assets and liabilities 5,662
5,673
6,721
Purchases of property and equipment (143,614)
(102,863)
(87,468)
Other, net 2,315
462
(356)
Unlevered Free Cash Flow $ 83,455
$ 110,177
$ 154,987
Net cash used in investing activities $ (112,500)
$ (102,777)
$ (87,468)
Net cash used in financing activities $ (52,641)
$ (19,721)
$ (122,817)
50