Sears 2015 Annual Report Download - page 27

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Adjusted EBITDA for our segments was as follows:
2015 2014 2013
millions Kmart
Sears
Domestic
Sears
Holdings Kmart
Sears
Domestic
Sears
Canada
Sears
Holdings Kmart
Sears
Domestic
Sears
Canada
Sears
Holdings
Operating income (loss)
per statement of
operations . . . . . . . . . . .
$(292) $ (708) $(1,000) $ (422) $ (920) $(166) $(1,508) $ (351) $ (940) $ 364 $(927)
Depreciation and
amortization . . . . . . . . . 72 350 422 95 437 49 581 129 511 92 732
(Gain) loss on sales of
assets. . . . . . . . . . . . . . . (185)(558)(743)(103)(105)1 (207)(66)(63)(538)(667)
Before excluded items. . . . (405)(916)(1,321)(430)(588)(116)(1,134)(288)(492)(82)(862)
Closed store reserve,
severance and other . . . 86 12 98 142 55 27 224 89 (31)72 130
Domestic pension expense — 229 229 — 89 — 89 — 162 — 162
Other expenses(1) . . . . . . . . 43 (107)(64)43 4 3 50 — — — —
Amortization of deferred
Seritage gain . . . . . . . . . (11)(41)(52)— — — — — — — —
Impairment charges. . . . . . 14 260 274 29 19 15 63 70 150 13 233
Adjusted EBITDA . . . . . . (273)(563)(836)(216)(421)(71)(708)(129)(211)3 (337)
Lands' End separation . . . . — — — — (10)— (10)— (150)— (150)
Adjusted EBITDA as
defined(2) . . . . . . . . . . . . $(273) $ (563) $ (836) $ (216) $ (431) $ (71) $ (718) $ (129) $ (361) $ 3$(487)
% to revenues(3) . . . . . . . . . (2.7)% (3.8)% (3.3)% (1.8)% (2.6)% (3.4)% (2.3)% (1.0)% (2.0)% 0.1%(1.4)%
(1) Consists of one-time credits from vendors, expenses associated with legal matters, transaction costs associated with strategic
initiatives and other expenses.
(2) Adjusted to reflect the results of the Lands' End business that were included in our results of operations prior to the separation.
(3) Excludes revenues of the Lands' End business that were included in our results of operations prior to the separation.
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