American Home Shield 2011 Annual Report Download - page 44

Table of Contents
(in thousands) TruGreen Terminix
American
Home
Shield
ServiceMaster
Clean
Other
Operations
and
Headquarters Total
Year Ended
Dec. 31, 2009
Operating
income (loss)
(1) $ 64,897 $184,131 $ 70,253 $ 50,456 $ (125,903)$243,834
Depreciation and
amortization
expense 87,726 63,277 41,728 8,243 13,818 214,792
EBITDA 152,623 247,408 111,981 58,699 (112,085) 458,626
Interest and net
investment
income(2) — — 1,976 144 4,959 7,079
Residual value
guarantee
charge(8) 4,726 — — 588 147 5,461
Non-cash trade
name
impairment(3) 21,400 — — — 5,200 26,600
Adjusted
EBITDA 178,749 247,408 113,957 59,431 (101,779) 497,766
Non-cash stock-
based
compensation
expense — — — — 8,097 8,097
Non-cash credits
attributable to
purchase
accounting(4) (103) (226) (219) — — (548)
Comparable
Operating
Performance $178,646 $247,182 $113,738 $ 59,431 $ (93,682) 505,315
Memo: Items
included in
Comparable
Operating
Performance
Restructuring
charges(5) $ 8,717 $ 3,390 $ 147 $ — $ 14,428 $ 26,682
Management and
consulting
fees(6) $ — $ — $ — $ — $ 7,500 $ 7,500
Memo: Items
excluded from
Comparable
Operating
Performance
Comparable
Operating
Performance
of
discontinued
operations(7) $ — $ — $ — $ — $ 23,747 $ 23,747
Presented below is a reconciliation of total segment operating income to net income (loss).(1)
Year Ended December 31,
(In thousands) 2011 2010 2009
Total Segment Operating Income $ 375,460 $ 306,692 $ 243,834
Non-operating Expense (Income):
Interest expense 273,123 286,933 299,333
Interest and net investment income (10,886) (9,358) (7,079)
Loss (Gain) on extinguishment of debt 774 — (46,106)
Other expense 700 733 748
Income (Loss) from Continuing Operations before Income Taxes 111,749 28,384 (3,062)
Provision (benefit) for income taxes 43,912 10,945 (9,204)
Income from Continuing Operations 67,837 17,439 6,142