Investor Day
Non-GAAP Reconciliation
2015
2016
Year Ended December 31,
2017
2018
USD in millions
2019
2020
Net income
Adjustments:
Loss from discontinued operations, net of tax
Equity earnings of non-consolidated entities
Income tax expense (benefit)
Depreciation and amortization
Interest expense, net
Impairment and restructuring charges
$
90.9
$
376.1
$
8.1 $ 141.9 $
63.0 $
91.6
2.9
3.3
(2.4)
(3.8)
(3.6)
(0.7)
(5.4)
(246.8)
137.8
(10.1)
57.1
25.1
95.2
108.0
111.3
125.1
134.0
134.6
60.6
77.6
79.0
70.8
71.8
74.8
31.0
18.4
13.1
17.3
22.7
10.7
Gain on previously held shares of equity investment
(20.8)
(Gain) loss on sale of property and equipment
(0.4)
(3.3)
(0.3)
0.1
1.7
(4.2)
Share-based compensation expense
15.6
22.5
19.8
15.1
13.3
16.4
Non-cash foreign exchange transaction/translation loss
(income)
2.7
5.7
(1.2)
(1.3)
3.4
12.9
Other non-cash items
1.1
2.8
0.5
3.9
0.7
Other items
18.9
30.6
47.0
117.5
47.3
84.1
Costs relating to debt restructuring and debt refinancing
Adjusted EBITDA
0.2
1.1
23.7
0.3
0.2
311.0
$
392.2 $ 435.2 $ 459.2 $ 415.0
$
446.4
Net cash provided by operating activities
Less capital expenditures (1)
Free cash flow
(1) Capital Expenditures defined as purchases of property, equipment and intangible assets
65
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2015
2016
Year Ended December 31,
2017
2018
2019
2020
$
$ 172.3
(77.7)
94.7
$ 201.6 $ 265.8
(79.5)
$ 122.1
$ 219.7 $ 302.7 $
355.7
(63.0)
(118.7)
(136.2)
(96.9)
$ 202.7
$ 101.0 $ 166.5 $
258.8
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