American Home Shield 2011 Annual Report Download - page 42

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Table of Contents
The following table presents reconciliations of operating income (loss) to Adjusted EBITDA and Comparable Operating Performance for the periods
presented.
(in thousands) TruGreen Terminix
American
Home
Shield
ServiceMaster
Clean
Other
Operations
and
Headquarters Total
Year Ended
Dec. 31, 2011
Operating income
(loss)(1) $129,324 $220,622 $ 94,869 $ 57,674 $ (127,029)$375,460
Depreciation and
amortization
expense 41,929 75,347 27,331 6,150 12,679 163,436
EBITDA 171,253 295,969 122,200 63,824 (114,350) 538,896
Interest and net
investment
income(2) — — 9,777 158 951 10,886
Non-cash trade
name
impairment(3) 36,700 — — — — 36,700
Adjusted
EBITDA 207,953 295,969 131,977 63,982 (113,399) 586,482
Non-cash stock-
based
compensation
expense — — — — 8,412 8,412
Non-cash credits
attributable to
purchase
accounting(4) (37) (44) — — — (81)
Comparable
Operating
Performance $207,916 $295,925 $131,977 $ 63,982 $ (104,987)$594,813
Memo: Items
included in
Comparable
Operating
Performance
Restructuring
charges(5) $ 1,115 $ 3,560 $ — $ 36 $ 3,451 $ 8,162
Management and
consulting
fees(6) $ — $ — $ — $ — $ 7,500 $ 7,500
Memo: Items
excluded from
Comparable
Operating
Performance
Comparable
Operating
Performance of
discontinued
operations(7) $ — $ — $ — $ — $ (3,064)$ (3,064)
40