Private & Confidential
Reconciliation of Adjusted EBITDA of Energy Segment to U.S. GAAP Net Loss
(Unaudited)
16
RECONCILIATION OF ADJUSTED EBITDA OF ENERGY SEGMENT TO U.S. GAAP NET LOSS (UNAUDITED)
($ in Millions) 2016 2015 2016 2015
Reported net income (loss) - Energy segment (28.2)$ (121.9)$ (19.7)$ (321.9)$
Interest expense 3.9 5.2 12.1 14.1
Depreciation, amortization and depletion 3.1 9.7 13.2 35.7
EBITDA - Energy segment (21.2) (107.0) 5.6 (272.1)
Accretion of discount on asset retirement obligations 0.4 0.8 1.4 2.1
Impairments and bad debt expense 17.6 102.8 93.2 439.4
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 1.2 0.3 2.7 2.6
Gain on derivative financial instruments 2.2 2.7 (0.3) (21.3)
Cash settlements on derivative financial instruments 0.5 6.2 9.5 14.1
Stock-based compensation expense - - - 0.6
Adjusted EBITDA - Energy segment 0.7$ 5.8$ 6.5$ 24.2$
Fiscal Quarter (a) Fiscal Nine Months (b)
a. For the three months ended June 30, 2016 and June 30, 2015, respectively.
b. For the nine months ended June 30, 2016 and June 30, 2015, respectively.
