Activision 2015 Annual Report Download - page 106

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ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
For the Trailing Twelve Months Ending D ecember 31, 2015
EBITDA and Adjusted EBITDA
(Amount s in m illions )
1 eectsthenetchangeindeferredrevenuesandrelatedcostofsales.
2 ncludesexpensesrelatedtostoc-basedcompensation.
3 eectsfeesandotherexpensesrelatedtoacuisitions,includingtheingAcuisition,andthedebtnancingsrelatedthereto.
Trailingtwelvemonthsamountsarepresentedascalculated.Thereforethesumofthefouruarters,aspresented,maydifferduetotheimpactofrounding.
Trailing Twelve
Months Ending
March 31, June 30, September 30, December 31, December 31,
2015 2015 2015 2015 2015
GAAP Net Income $ 394 $ 212 $ 127 $ 159 $ 892
nterestExpense,net 50 50 51 50 200
Provisionforincometaxes 98 70 18 42 229
Depreciationandamortiation 20 21 25 30 95
EBITDA 562 353 221 281 1,416
Deferralofnetrevenuesandrelatedcostofsales1 (362) (181) 26 554 39
Stoc-basedcompensationexpense2 23 21 28 22 92
Feesandotherexpensesrelatedtoacuisitions3 — — — 5 5
Adjusted EBITDA $ 223 $ 193 $ 275 $ 862 $ 1,552
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10-K Activision_Master_040516_5-00pm_PrinterMarksAdded.pdf 88 4/5/16 9:19 PM