Reconciliation of Net Debt Leverage Ratio (non-GAAP) | |||
The following table provides a reconciliation of our Net loss (GAAP) to our Adjusted EBITDA (non-GAAP) for the twelve months ended December 31, 2018 (in thousands) and the calculation of our Net Debt Leverage Ratio (non-GAAP): | |||
Twelve Months Ended December 31, 2018 | |||
Net loss (GAAP) | $ | (1,031,469) | |
Income tax expense | 22,935 | ||
Interest expense, net | 521,656 | ||
Depreciation and amortization (15) | 688,530 | ||
EBITDA (non-GAAP) | $ | 201,652 | |
Inventory step-up and other cost savings | $ | 261 | |
Upfront and milestone-related payments | 45,108 | ||
Inventory reserve increase from restructuring | 2,947 | ||
Separation benefits and other restructuring | 83,348 | ||
Certain litigation-related and other contingencies, net | 13,809 | ||
Asset impairment charges | 916,939 | ||
Acquisition-related and integration costs | 2,004 | ||
Fair value of contingent consideration | 19,910 | ||
Loss on extinguishment of debt | — | ||
Share-based compensation | 54,071 | ||
Other income, net | (51,953) | ||
Other adjustments | (737) | ||
Discontinued operations, net of tax | 69,702 | ||
Adjusted EBITDA (non-GAAP) | $ | 1,357,061 | |
Calculation of Net Debt: | |||
Debt | $ | 8,258,419 | |
Cash (excluding Restricted Cash) | 1,149,113 | ||
Net Debt (non-GAAP) | $ | 7,109,306 | |
Calculation of Net Debt Leverage: | |||
Net Debt Leverage Ratio (non-GAAP) | 5.2 | ||
