Burlington Investor Prestentation
Adjusted Net Income and Adjusted EBITDA Reconciliation
Historical Adjusted Net Income Reconciliation
($ in millions)
Net Income
Net Favorable Lease Costs
Costs Related to Debt Amendments & Offerings
Loss on Extinguishment of Debt
Impairment Charges
Advisory Fees
Stock Option Modification Expense
Litigation Accrual
Tax Effect
FY 13
$16.2
29.3
23.0
16.1
3.2
2.9
10.4
($ in millions)
Net Income
(30.9)
$70.2
Adjusted Net Income
Management Transition Costs, Net of Tax Effect
Adjusted Net Income, Exclusive of Management Transition Costs
Historical Adjusted EBITDA Reconciliation
FY 13
$16.2
127.5
16.1
16.2
168.2
3.2
2.9
10.4
Interest Expense, Net
Loss on Extinguishment of Debt
Income Tax Expense
Depreciation and Amortization ²
Impairment Charges
Advisory Fees
Stock Option Modification Expense
Litigation Accrual
Costs Related to Debt Amendments & Offerings
Adjusted EBITDA
Management Transition Costs 4
Adjusted EBITDA, Exclusive of Management Transition Costs
1 53 weeks
23.0
$383.7
FY 14
$66.0
26.0
2.4
74.3
2.6
0.2
2.9
9.3
(45.1)
$138.6
FY 14
$66.0
83.7
74.3
39.1
167.6
2.6
0.2
2.9
9.3
2.4
$448.1
FY 15
$150.5
24.1
0.2
0.7
6.1
0.1
1.4
5.6
(14.1)
$174.6
FY 15
$150.5
58.9
0.7
88.4
172.1
6.1
0.1
1.4
5.6
0.2
$484.0
FY 16
$215.9
23.8
1.3
3.8
2.5
0.6
3.5
(19.1)
$232.3
FY 16
$215.9
56.1
3.8
117.3
183.6
2.5
0.6
3.5
1.3
$584.6
FY 18
I
Q3'18
FY 17¹
$384.9 $414.7 | $76.8
23.3 26.1
2.5
5.3
2.4
2.3
2.9
1.8
0.5
2.1
6.8
0.1
(9.4)
(9.8)
$405.8 $442.5
0.1
2.3
$696.1
2 Includes favorable lease costs, which are included in selling, general & administrative expenses beginning Q1 2019
3 Represents the costs, net of taxes, incurred as a result of hiring a new Chief Executive Officer, primarily related to sign-on and duplicative costs
4 Represents the costs incurred as a result of hiring a new Chief Executive Officer, primarily related to sign-on and duplicative costs
15
1
1
I
1
2.5
$792.2
1
I
I
I
FY 17¹ FY 18 I Q3'18
t
$384.9 $414.7 I $76.8
I
58.6 55.6
14.4
1
2.9
1.8 I 0.5
I
44.1 92.8 I 15.2
201.1 217.9 I
2.1
6.8
T
53.8
1
(2.1)
|
T
1
1
$82.9
$82.9
2.4
$163.1
Q3'19
$96.5
8.3
(2.1)
$102.7
1.2
$103.9
Q3'19
$96.5
12.0
23.0
61.0
$192.5
1.3
$163.1 $193.8
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