Harbinger Group Inc.
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SEC Filings

8-K
HRG GROUP, INC. filed this Form 8-K on 02/05/2016
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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
Reconciliation to reported net income:
 
2016
 
2015
Reported net income - Consumer Products segment
 
$
73.7

 
$
50.0

Add back:
 
 
 
 
Interest expense
 
58.4

 
44.4

Income tax expense
 
6.9

 
20.5

Depreciation and amortization, net of accelerated depreciation
 
 
 
 
Depreciation of properties
 
23.0

 
18.6

Amortization of intangibles
 
23.6

 
20.5

EBITDA - Consumer Products segment
 
185.6

 
154.0

Stock-based compensation
 
10.1

 
5.4

Restructuring and related charges
 
1.2

 
7.4

Acquisition and integration related charges
 
9.9

 
8.1

Other
 
0.3

 
0.9

Adjusted EBITDA - Consumer Products segment
 
$
207.1

 
$
175.8

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
Reconciliation to reported net income (loss):
 
2016
 
2015
Reported net income (loss) - Energy segment
 
$
38.3

 
$
(39.5
)
Interest expense
 
4.6

 
4.5

Depreciation, amortization and depletion
 
6.5

 
13.5

EBITDA - Energy segment
 
49.4

 
(21.5
)
Accretion of discount on asset retirement obligations
 
0.6

 
0.6

Impairments and bad debt expense
 
54.4

 
190.0

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
 
1.0

 
1.0

Gain on derivative financial instruments
 
(1.8
)
 
(18.7
)
Cash settlements on derivative financial instruments
 
8.3

 
2.4

Stock based compensation expense
 
—

 
0.3

Adjusted EBITDA - Energy segment
 
$
6.3

 
$
12.9



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