American Home Shield 2011 Annual Report Download - page 41

Table of Contents
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the
future, and Adjusted EBITDA and Comparable Operating Performance do not reflect any cash requirements for such replacements;
Other companies in the Company's industries may calculate Adjusted EBITDA and Comparable Operating Performance differently, limiting
their usefulness as comparative measures; and
Comparable Operating Performance does not include the impact of purchase accounting and non-cash stock-based compensation expense; the
latter exclusion may cause the overall compensation cost of the business to be understated.
Operating Revenues and Comparable Operating Performance by operating segment are as follows:
Year Ended Dec. 31,
(In thousands) 2011 2010 2009
Operating Revenue:
TruGreen $ 1,100,741 $ 1,096,667 $ 1,048,936
Terminix 1,193,075 1,157,346 1,089,072
American Home Shield 686,737 656,572 630,251
ServiceMaster Clean 138,691 132,132 125,614
Other Operations and Headquarters 86,628 84,677 84,012
Total Operating Revenue $ 3,205,872 $ 3,127,394 $ 2,977,885
Comparable Operating Performance:
TruGreen $ 207,916 $ 187,550 $ 178,646
Terminix 295,925 267,338 247,182
American Home Shield 131,977 116,736 113,738
ServiceMaster Clean 63,982 63,691 59,431
Other Operations and Headquarters (104,987) (103,211) (93,682)
Total Comparable Operating Performance $ 594,813 $ 532,104 $ 505,315
Memo: Items included in Comparable Operating Performance
Restructuring charges(1) $ 8,162 $ 11,448 $ 26,682
Management and consulting fees(2) $ 7,500 $ 7,500 $ 7,500
Memo: Items excluded from Comparable Operating Performance
Comparable Operating Performance of discontinued operations $ (3,064)$ 7,862 $ 23,747
Represents restructuring charges related to a reorganization of field leadership and a restructuring of branch operations at
TruGreen, a branch optimization project at Terminix, information technology outsourcing and initiatives to enhance
capabilities and reduce costs in our centers of excellence at Other Operations and Headquarters, Merger related charges and
other restructuring costs.
Represents management and consulting fees payable to certain related parties. See Note 10 to the Consolidated Financial
Statements for further information on management and consulting fees.
(1)
(2)
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