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Table of Contents
Year Ended December 31,
2015 (1)
2014 (1)
2013 (1)
2012 (1)
2011 (1)
Adjusted EBITDA: (unaudited; in millions)
Net loss $ (120.4)
$ (143.3)
$ (199.9)
$ (279.1)
$ (324.0)
Interest expense, net of interest income (2) 68.5
84.8
70.9
79.1
6.4
Benefit for income taxes and adjustments to the TRA liability (0.3)
(2.8)
(1.1)
(0.2)
(0.3)
Depreciation and amortization 158.8
152.8
140.6
138.6
54.6
Equity-based compensation expense 40.4
30.1
16.4
11.7
260.0
Change in deferred revenue (3) 165.9
166.4
169.1
252.4
161.1
Change in prepaid and accrued registry costs (4) (30.8)
(20.9)
(23.4)
(34.2)
(51.5)
Acquisition and sponsor-related costs (5) 55.3
5.0
9.3
5.6
50.5
Sales tax accrual (6) —
(0.6)
14.4
—
—
Adjusted EBITDA $ 337.4 $ 271.5 $ 196.3 $ 173.9
$ 156.8
___________
(1) The year ended December 31, 2011 represents the combined periods of January 1, 2011 through December 16, 2011 (Predecessor) and December 17, 2011 through December 31, 2011
(Successor). All periods ending after December 31, 2011 represent the Successor’s operations.
(2) Interest income is included in "Other income (expense), net."
(3) This amount also includes the impact of realized gains or losses from the hedging of bookings in foreign currencies.
(4) This amount includes the changes in prepaid domain name registry fees, registry deposits and registry payables.
(5) Acquisition and sponsor-related costs in 2011 include professional fees related to the completion of the Merger, which are included in "General and administrative" expenses. Cash paid for
acquisition and sponsor-related costs was $31.7 million , $3.2 million , $13.0 million , $4.4 million and $50.7 million for 2015 , 2014 , 2013 , 2012 and 2011 respectively.
(6) This amount represents increases or decreases in the accrual for prior period sales tax obligations. See Note 10 to our consolidated financial statements.
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