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