Cincinnati Bell 2012 Annual Report Download - page 7
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Use of Non-GAAP Financial Measures
This report contains information about adjusted
earnings before interest, taxes, depreciation and
amortization (Adjusted EBITDA) and Adjusted
EBITDA margin. These are non-GAAP financial
measures used by Cincinnati Bell management when
evaluating results of operations. Management believes
these measures also provide users of the financial
statements with additional and useful comparisons of
current results of operations with past and future
periods. Non-GAAP financial measures should not be
construed as being more important than comparable
GAAP measures. Detailed reconciliations of Adjusted
EBITDA to comparable GAAP financial measures are
available at http://investor.cincinnatibell.com (see
Fourth Quarter 2012 Earnings Release Tables).
1Adjusted EBITDA provides a useful measure of operational
performance. The Company defines Adjusted EBITDA as
GAAP operating income plus depreciation, amortization,
restructuring charges, asset impairments, components of
pension and other retirement plan costs related to interest
costs, asset returns, and amortization of actuarial gains and
losses, and other special items. Adjusted EBITDA should
not be considered as an alternative to comparable GAAP
measures of profitability and may not be comparable with
the measure as defined by other companies.
2Adjusted EBITDA margin provides a useful measure of
operational performance. The Company defines Adjusted
EBITDA margin as Adjusted EBITDA divided by revenue.
Adjusted EBITDA margin should not be considered as an
alternative to comparable GAAP measures of profitability
and may not be comparable with the measure as defined by
other companies.
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