Freescale Semiconductor Announces Fourth Quarter and Full-Year 2014 Results
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Freescale Semiconductor, Ltd.
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EBITDA and Adjusted EBITDA Reconciliations
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(Unaudited)
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Three Months Ended
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Twelve Months Ended
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(in millions)
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Dec 31,
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Oct 3,
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Dec 31,
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Dec 31,
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Dec 31,
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2014
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2014
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2013
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2014
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2013
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EBITDA excluding the effects of other items
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$
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274
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$
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304
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$
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236
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$
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1,088
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$
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862
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Non-cash share-based compensation expense (c)
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17
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16
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12
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67
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48
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Fair value adjustment on interest rate derivatives (d)
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-
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-
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-
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-
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(1
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Loss on extinguishment or modification of long-term debt (f)
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10
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10
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135
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79
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217
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Reorganization of business and other (g)
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12
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8
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14
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37
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24
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Acquisition accounting impact (b)
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-
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-
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-
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1
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-
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EBITDA
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235
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270
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75
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904
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574
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Depreciation
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44
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44
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45
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173
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181
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Amortization*
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22
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22
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20
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84
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78
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Interest expense, net
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78
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81
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119
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343
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483
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Income tax expense (benefit)
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28
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(2
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9
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53
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40
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Net earnings (loss)
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$
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63
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$
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125
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$
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(118
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)
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$
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251
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$
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(208
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Twelve Months
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Ended
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Dec 31, 2014
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(in millions)
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Net earnings
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$
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251
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Interest expense, net
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343
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Income tax expense
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53
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Depreciation and amortization expense*
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257
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Non-cash share-based compensation expense (c)
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67
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Loss on extinguishment or modification of long-term debt (f)
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79
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Reorganization of business and other (g)
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37
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Other terms (h)
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8
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Adjusted EBITDA
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$
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1,095
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*Excludes amortization of debt issuance costs, which are included in
interest expense, net.
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