Harbinger Group Inc.
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SEC Filings

8-K
HRG GROUP, INC. filed this Form 8-K on 05/09/2016
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HRG GROUP, INC. AND SUBSIDIARIES
ADJUSTED EBITDA AND ADJUSTED OPERATING INCOME RECONCILIATIONS
(In millions)
The table below shows the adjustments made to the reported net income of the Consumer Products segment to calculate its Adjusted EBITDA (unaudited):
 
 
Fiscal Quarter
 
Fiscal Six Months
Reconciliation to reported net income:
 
2016
 
2015
 
2016
 
2015
Reported net income - Consumer Products segment
 
$
75.3

 
$
27.9

 
$
149.0

 
$
77.9

Add back:
 
 
 
 
 
 
 
 
Interest expense
 
57.5

 
49.2

 
115.9

 
93.6

Income tax expense
 
14.9

 
8.1

 
21.8

 
28.6

Depreciation and amortization, net of accelerated depreciation
 
 
 
 
 
 
 
 
Depreciation of properties
 
21.3

 
18.7

 
44.4

 
37.1

Amortization of intangibles
 
23.4

 
21.2

 
47.0

 
41.7

      EBITDA - Consumer Products segment
 
192.4

 
125.1

 
378.1

 
278.9

Stock-based compensation
 
21.5

 
13.8

 
31.6

 
19.4

Restructuring and related charges
 
1.6

 
4.4

 
2.8

 
11.8

Acquisition and integration related charges
 
13.3

 
11.9

 
23.2

 
20.0

Purchase accounting inventory adjustment
 
—

 
2.2

 
—

 
3.0

Other
 
0.8

 
1.7

 
1.0

 
1.8

      Adjusted EBITDA - Consumer Products segment
 
$
229.6

 
$
159.1

 
$
436.7

 
$
334.9

The table below shows the adjustments made to the reported net income (loss) of the Energy segment to calculate its Adjusted EBITDA (unaudited):
 
 
Fiscal Quarter
 
Fiscal Six Months
Reconciliation to reported net (loss) income
 
2016
 
2015
 
2016
 
2015
Reported net (loss) income - Energy Segment
 
$
(29.8
)
 
$
(160.5
)
 
$
8.5

 
$
(200.0
)
Interest expense
 
3.6

 
4.4

 
8.2

 
8.9

Depreciation, amortization and depletion
 
3.6

 
12.5

 
10.1

 
26.0

EBITDA - Energy segment
 
(22.6
)
 
(143.6
)
 
26.8

 
(165.1
)
Accretion of discount on asset retirement obligations
 
0.4

 
0.7

 
1.0

 
1.3

Impairments and bad debt expense
 
21.2

 
146.6

 
75.6

 
336.6

Gain on sale of oil and gas properties
 
—

 
—

 
(105.6
)
 
—

Gain on remeasurement of investment to fair value
 
—

 
—

 
—

 
(141.2
)
Non-recurring other operating items
 
0.5

 
1.3

 
1.5

 
2.3

Gain on derivative financial instruments
 
(0.8
)
 
(5.3
)
 
(2.5
)
 
(24.0
)
Cash settlements on derivative financial instruments
 
0.7

 
5.5

 
9.0

 
7.9

Stock based compensation expense
 
—

 
0.3

 
—

 
0.6

Adjusted EBITDA - Energy segment
 
$
(0.6
)
 
$
5.5

 
$
5.8

 
$
18.4



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