Reconciliation of Net Income to Adjusted Net Income (in thousands)
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Transcript of Reconciliation of Net Income to Adjusted Net Income (in thousands)
Net Income (Loss):Net Income (Loss):
Non-GAAP measures should not be considered a substitute for GAAP measures. However, adjusted income from continuing operations provides meaningful supplemental information about the company’s underlying results of operations, and management believes it assists investors and financial analysts in analyzing and forecasting future periods.
Reconciliation of Net Income to Adjusted Net IncomeReconciliation of Net Income to Adjusted Net Income (in thousands) (in thousands)
Add back certain items, net of tax:Add back certain items, net of tax:
$ (30,015) $ (30,015)
$ 42,005 $ 42,005
Three Months EndedThree Months EndedDec. 25,Dec. 25,
20112011Dec. 30, Dec. 30,
20122012
Year EndedYear EndedDec 25,Dec 25, 20112011
Dec. 30, Dec. 30, 20122012
$ (144) $ (144) $ 54,389 $ 54,389
Restructuring related compensation chargesRestructuring related compensation charges 583583 2,896 2,896 8,547 8,547 367 367
Adjusted net incomeAdjusted net income $ 43,207 $ 43,207
$ 56,443 $ 56,443
$ 60,138 $ 60,138
Certain discrete tax itemsCertain discrete tax items (2,968)(2,968) (1,371) (1,371) (10,014)(10,014) (9,769) (9,769)
(796) (796) Loss (gain) on extinguishment of debtLoss (gain) on extinguishment of debt 59,95659,956 56,10856,108 748 748
Gain on sale of internet assetGain on sale of internet asset -- - - (1,182)(1,182)- -
(221)(221)Reversal of interest on tax itemsReversal of interest on tax items (2,969) (2,969) (5,069)(5,069)(219) (219)
Accelerated depreciation on equipmentAccelerated depreciation on equipment 1,3501,350 740 740 5,299 5,299 740 740
Non-cash impairmentsNon-cash impairments 1,928 1,928 -- -- 9,081 9,081
$ 33,803 $ 33,803
Other restructuring chargesOther restructuring charges 821821 553553 3,0703,070 553553
Impairment recorded by minority owned companyImpairment recorded by minority owned company 4,2974,297 -- 4,2974,297 --