Freescale Semiconductor Announces Fourth Quarter and Full-Year

Freescale Semiconductor Announces Fourth Quarter and Full-Year 2014 Results


Freescale Semiconductor, Ltd.
EBITDA and Adjusted EBITDA Reconciliations
(Unaudited)

	Three Months Ended								Twelve Months Ended
(in millions)	Dec 31,		Oct 3,			Dec 31,			Dec 31,		Dec 31,
	2014		2014			2013			2014		2013

EBITDA excluding the effects of other items	$	274	$	304		$	236		$	1,088	$	862
Non-cash share-based compensation expense (c)		17		16			12			67		48
Fair value adjustment on interest rate derivatives (d)		-		-			-			-		(1	)
Loss on extinguishment or modification of long-term debt (f)		10		10			135			79		217
Reorganization of business and other (g)		12		8			14			37		24
Acquisition accounting impact (b)		-		-			-			1		-
EBITDA		235		270			75			904		574
Depreciation		44		44			45			173		181
Amortization*		22		22			20			84		78
Interest expense, net		78		81			119			343		483
Income tax expense (benefit)		28		(2	)		9			53		40
Net earnings (loss)	$	63	$	125		$	(118	)	$	251	$	(208	)



	Twelve Months
	Ended
	Dec 31, 2014
(in millions)

Net earnings	$	251
Interest expense, net		343
Income tax expense		53
Depreciation and amortization expense*		257
Non-cash share-based compensation expense (c)		67
Loss on extinguishment or modification of long-term debt (f)		79
Reorganization of business and other (g)		37
Other terms (h)		8
Adjusted EBITDA	$	1,095

*Excludes amortization of debt issuance costs, which are included in interest expense, net.

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