The Company's MD&A for the fourth quarter and year-end December 31, 2017 provides additional information regarding these financial metrics and the specified items affecting the comparability of net earnings.
CONSOLIDATED RESULTS IN CANADIAN DOLLARS
The following table provides selected financial information for the fiscal years indicated, including a reconciliation of adjusted EBITDA and adjusted earnings to net earnings, had the Company continued to use a Canadian dollar presentation currency for the year ended December 31, 2017.
|
|
|
|
|
| |
|
|
|
2017 |
2016 |
2015 | |
|
(C$ millions, except per common share amounts) |
|
|
|
| |
|
Consolidated revenues |
|
2,112.5 |
2,063.8 |
2,117.4 | |
|
|
|
|
|
| |
|
Adjusted EBITDA |
|
487.5 |
354.2 |
365.9 | |
|
Adjusted EBITDA as a percentage of revenues |
|
23.1% |
17.2% |
17.3% | |
|
Net finance expense |
|
(102.1) |
(49.4) |
(46.4) | |
|
Depreciation and amortization1 |
|
(112.8) |
(59.6) |
(58.8) | |
|
Income tax expense on adjusted earnings |
|
(51.0) |
(34.2) |
(39.6) | |
|
Adjusted earnings |
|
221.6 |
211.0 |
221.1 | |
|
Adjusted earnings per share, diluted |
|
5.36 |
5.78 |
6.08 | |
|
Items affecting comparability: |
|
|
|
| |
|
Share-based compensation expense |
|
(74.0) |
(19.3) |
(14.1) | |
|
Amortization of acquisition related intangible assets |
|
(101.8) |
(43.0) |
(40.6) | |
|
Acquisition related expense |
|
(77.1) |
- |
- | |
|
Interest expense on dissenting shareholder liability |
|
(2.4) |
- |
- | |
|
Loss from early extinguishment of debt |
|
(28.8) |
- |
- | |
|
Restructuring and enterprise improvement costs |
|
(47.2) |
(4.8) |
(12.9) | |
|
Executive compensation settlement |
|
- |
(3.0) |
- | |
|
Foreign exchange differences |
|
15.4 |
(3.7) |
(6.6) | |
|
Loss from joint venture |
|
(0.6) |
- |
- | |
|
Recognition of previously unrecognized deferred tax |
|
|
|
| |
|
|
assets |
|
158.9 |
- |
- |
|
Income tax expense adjustment |
|
69.1 |
2.4 |
(4.1) | |
|
Net earnings |
|
133.1 |
139.6 |
142.8 | |
|
Net earnings per share, diluted |
|
3.22 |
3.74 |
3.84 | |
|
1 Excludes amortization of acquisition related intangible assets. |
