| SUNEDISON SEMICONDUCTOR LIMITED AND SUBSIDIARIES | ||||||||||||||||||||
| UNAUDITED SUPPLEMENTAL INFORMATION | ||||||||||||||||||||
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURE | ||||||||||||||||||||
| (In millions) | ||||||||||||||||||||
| ADJUSTED EBITDA CALCULATION [*] | ||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||
| September 30, 2016 | June 30, 2016 | September 30, 2015 | September 30, 2016 | September 30, 2015 | ||||||||||||||||
| Net loss | $ | (25.4 | ) | $ | (48.5 | ) | $ | (80.8 | ) | $ | (191.0 | ) | $ | (105.6 | ) | |||||
| Interest, net | 3.1 | 3.3 | 3.5 | 10.3 | 10.4 | |||||||||||||||
| Income tax expense | 3.4 | 5.4 | 7.8 | 16.2 | 16.2 | |||||||||||||||
| Depreciation and amortization | 28.0 | 28.0 | 23.7 | 81.9 | 79.9 | |||||||||||||||
| Restructuring charges and other non-recurring items (1) (2) (3) | 2.8 | 2.3 | 3.9 | 9.3 | 3.7 | |||||||||||||||
| Loss on partial sale of SMP investment | — | — | — | 6.1 | — | |||||||||||||||
| Long-lived asset impairment charges | 1.4 | 14.7 | 56.7 | 16.1 | 58.0 | |||||||||||||||
| Stock compensation expense | 3.7 | 4.1 | 4.1 | 11.7 | 11.1 | |||||||||||||||
| Pension settlement charge (4) | — | — | 4.8 | — | 4.8 | |||||||||||||||
| Equity in loss of equity method investments (5) | — | 11.0 | 0.4 | 97.2 | 1.4 | |||||||||||||||
| Adjusted EBITDA [*] | $ | 17.0 | $ | 20.3 | $ | 24.1 | $ | 57.8 | $ | 79.9 | ||||||||||
(1) For the nine months ended September 30, 2016, we recognized approximately $0.2 million of securities transaction tax related to the disposition of approximately 30% investment interest in SMP, Ltd ("SMP") to our subsidiary. This is a non-recurring expense that is excluded from Adjusted EBITDA as we do not consider this to be useful in assessing our on-going operating performance.
