American Home Shield 2015 Annual Report Download - page 47

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29
ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth our selected financial data derived from our audited consolidated financial statements for each
of the periods indicated. The selected financial data presented below should be read in conjunction with Item 7 “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and related notes
included in Item 8 of this Annual Report on Form 10-K. Our consolidated financial information may not be indicative of our future
performance.
Five-Year Financial Summary
Year Ended December 31,
(In millions, except per share data) 2015 2014 2013 2012 2011
Operating Results:
Revenue $ 2,594 $ 2,457 $ 2,293 $ 2,214 $ 2,105
Cost of services rendered and products sold 1,375 1,298 1,220 1,196 1,125
Selling and administrative expenses 666 669 691 678 648
401(k) Plan corrective contribution(1) 23 — — — —
Impairment of software and other related costs(2) — 47 — — —
Consulting agreement termination fees(3) — 21 — — —
Interest expense 167 219 247 245 266
Loss on extinguishment of debt(4) 58 65 — 55 —
Income (Loss) from continuing operations 162 43 42 (18) (7)
Cash dividends per share $ — $ — $ — $ — $ —
Weighted-average shares outstanding:
Basic 135.0 112.8 91.6 91.9 92.0
Diluted 136.6 113.8 92.2 91.9 92.0
Basic Earnings (Loss) Per Share -- Continuing Operations $ 1.20 $ 0.38 $ 0.46 $ (0.20) $ (0.08)
Diluted Earnings (Loss) Per Share -- Continuing Operations $ 1.19 $ 0.38 $ 0.46 $ (0.20) $ (0.08)
Financial Position (as of period end):
Total assets $ 5,098 $ 5,028 $ 5,760 $ 6,269 $ 7,039
Total long-term debt 2,752 3,026 3,867 3,882 3,825
Total shareholders’ equity 545 359 23 535 1,234
Cash Flow Data:
N
et cash provided from operating activities from continuing operations $ 336 $ 253 $ 208 $ 104 $ 74
N
et cash used for investing activities from continuing operations (98) (56) (70) (85) (80)
N
et cash used for financing activities from continuing operations (319) (277) (78) (14) (110)
Other Financial Data:
Adjusted EBITDA(5) $ 622 $ 557 $ 450 $ 413 $ 397
Adjusted EBITDA Margin(6) 24.0 % 22.7 % 19.6 % 18.7 % 18.9 %
Free Cash Flow(7) $ 358 $ 274 $ 169 $ 100 $ 22
__________________________________
(1) Represents costs related to the 401(k) Plan described in Note 11 to the consolidated financial statements.
(2) Represents the impairment of software and other related costs described in Note 2 to the consolidated financial statements.
(3) Represents consulting agreement termination fees described in Note 10 to the consolidated financial statements.
(4) For 2015 and 2014, represents a loss on extinguishment of debt as described in Note 12 to the consolidated financial
statements. For 2012, represents a loss on extinguishment of debt related to the redemption of the $996 million aggregate
principal amount of the then-existing 10.75% senior notes maturing in 2015 and repayment of $276 million of outstanding
borrowings under the then-existing term loan facility (together with the pre-funded letter of credit facility, the “Old Term
Facilities”).
(5) We use Adjusted EBITDA to facilitate operating performance comparisons from period to period. Adjusted EBITDA is a
supplemental measure of our performance that is not required by, or presented in accordance with, GAAP. Adjusted EBITDA
is not a measurement of our financial performance under GAAP and should not be considered as an alternative to net income
or any other performance measures derived in accordance with GAAP or as an alternative to net cash provided by operating
activities or any other measures of our cash flow or liquidity. Adjusted EBITDA means net income (loss) before: income
(loss) from discontinued operations, net of income taxes; provision (benefit) for income taxes; loss on extinguishment of
debt; interest expense; depreciation and amortization expense; 401(k) Plan corrective contribution; non-cash impairment of
software and other related costs; non-cash impairment of property and equipment; non-cash stock-based compensation
2015 Annual Report 45