Second Quarter 2017 Earnings Report
Reconciliation of Non-GAAP Measures
2Q16
4Q16
YTD 2017
3Q16
FY2016
1Q17
2Q17
Consolidated Metrics (cont.)
Operating income(loss), as reported (GAAP)
Reversal of depreciation and amortization
EBITDA (f)
State regulator matter accrual (b)
$
260.3
$
65.9
$
326.2
$
278.3
66.4
344.7
$ (313.5) $
65.3
483.7 $
263.2
239.5
66.4
$
214.8
$
454.3
65.2
131.6
$
N/A
N/A
(248.2)
N/A
$
746.9 $
305.9
$
280.0
$
585.9
N/A
N/A
49.0
49.0
Joint Settlement Agreements (c)
15.0
15.0
571.0
601.0
N/A
N/A
N/A
WU Way business transformation expenses (d)
2.1
5.0
13.2
20.3
14.3
35.0
49.3
Adjusted EBITDA, excluding state regulator matter accrual, Joint
Settlement Agreements and WU Way business transformation expenses
Operating margin, as reported (GAAP)
$
343.3
18.9%
$
364.7 $
336.0
$
1,368.2
320.2
$
364.0
$
684.2
20.2%
(22.9)%
8.9 %
18.4%
15.6%
16.9%
EBITDA margin
23.7 X
25.0 %
(18.1)%
13.8 X
23.5%
20.3 X
21.9%
Adjusted EBITDA margin, excluding state regulator matter accrual, Joint
Settlement Agreements and WU Way business transformation expenses
25.0%
26.5 X
24.5 X
25.2 X
24.6 X
26.4 X
25.5%
Net income (loss), as reported (GAAP)
$
205.6
$
216.9
$
(355.0)
$
253.2
$
161.7
$
166.5
$
328.2
Income tax benefit from state regulator matter accrual (b)
State regulator matter accrual (b)
Joint Settlement Agreements [c]
WU Way business transformation expenses (d)
Income tax expensel benefit) from Joint Settlement Agreements (c)
Income tax benefit from WU Way business transformation expenses (d)
State regulator matter accrual, Joint Settlement Agreements and WU Way
business transformation expenses, net of income tax expense[benefit)
Net income, excluding state regulator accrual matter, Joint Settlement
Agreements and WU Way business transformation expenses, net of
income tax expense[benefit]
Diluted earnings/(loss) per share ("EPS"), as reported (GAAP) ($ - dollars)
EPS impact as a result of state regulator matter accrual ($ - dollars) (b)
EPS impact as a result of Joint Settlement Agreements ($ - dollars) (c)
EPS impact as a result of WU Way business transformation expenses
($ - dollars) (d)
N/A
N/A
N/A
N/A
N/A
49.0
49.0
15.0
15.0
571.0
601.0
N/A
N/A
N/A
2.1
5.0
13.2
20.3
14.3
35.0
49.3
N/A
N/A
N/A
N/A
N/A
(5.4)
(5.5)
5.5
(5.4)
N/A
N/A
N/A
(0.8)
(1.8)
(4.8)
(7.4)
(5.0)
(12.3)
(17.3)
10.9
12.7
584.9
608.5
9.3
71.7
81.0
$
EPS impact from income tax benefit from state regulator matter accrual
($ - dollars) (b)
$
216.5
$
0.42
$
$
229.6
$
229.9
$
861.7
$
171.0
$
238.2
$
409.2
0.44 $
(0.73)
$
0.51 $
0.33
$
0.35
$
0.69
N/A
N/A
N/A
N/A
N/A
$
0.10
$
0.10
$
0.03
$
0.03
$
1.17
$
1.22
N/A
N/A
N/A
0.01
$
0.03
$
0.04
$
0.03
$
0.07
$
0.10
N/A
N/A
N/A
N/A
$
$
N/A
EPS impact from income tax expense[benefit) from Joint Settlement
Agreements ($ - dollars) (c)
$
(0.01)
$
(0.01)
$
0.01 $
(0.01)
N/A
N/A
N/A
EPS impact from income tax benefit from WU Way business transformation
expenses ($ dollars) (d)
$
$
$
(0.01)
$
(0.01)
$
(0.01)
$
(0.02)
$
(0.03)
EPS impact as a result of state regulator matter accrual, Joint Settlement
Agreements and WU Way business transformation expenses, net of
income tax expense[benefit) [$ - dollars)
$
0.02
$
0.03
$
1.20
124
$
0.02
$
0.15
$
0.17
Diluted EPS, excluding state regulator matter accrual, Joint Settlement
Agreements and WU Way business transformation expenses ($ - dollars]
Diluted weighted-average shares outstanding
$
0.44
$
0.47
$
0.47
1.75
493.0
490.3
483.6
493.5
0.35
483.4
$
0.50
472.0
$
0.86
477.7
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