The following table reconciles adjusted EBITDA and adjusted earnings to net earnings in Canadian dollars for the last eight quarters, had the Company continued to use a Canadian dollar presentation currency for the year ended December 31, 2017.
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Q4
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Q3
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Q2
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Q1
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Q4
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Q3
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Q2
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Q1
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(C$ millions, except per share amounts) |
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Adjusted EBITDA |
230.3 |
85.0 |
88.3 |
83.9 |
88.8 |
80.4 |
92.2 |
93.0 | |
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Net finance expense |
(59.7) |
(13.9) |
(14.6) |
(14.0) |
(13.4) |
(11.4) |
(11.7) |
(12.9) | |
Depreciation and amortization1 |
(68.9) |
(14.0) |
(15.3) |
(14.6) |
(15.2) |
(14.9) |
(14.4) |
(15.1) | |
Income tax expense on adjusted earnings |
(16.9) |
(12.2) |
(11.4) |
(10.4) |
(8.5) |
(8.0) |
(8.9) |
(9.1) | |
Adjusted earnings |
84.8 |
44.9 |
47.0 |
44.9 |
51.7 |
46.1 |
57.2 |
55.9 | |
Adjusted earnings per share, diluted |
1.52 |
1.23 |
1.29 |
1.23 |
1.42 |
1.26 |
1.57 |
1.53 | |
Items affecting comparability: |
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Share-based compensation recovery (expense) |
(58.4) |
(6.6) |
(2.6) |
(6.5) |
5.2 |
3.0 |
(23.6) |
(3.9) | |
Amortization of acquisition related intangible |
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|
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| |
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assets |
(70.4) |
(10.0) |
(10.8) |
(10.6) |
(10.7) |
(11.1) |
(10.3) |
(11.0) |
Acquisition related expense |
(38.3) |
(12.0) |
(16.1) |
(10.7) |
- |
- |
- |
- | |
Interest expense on dissenting shareholder liability |
(2.4) |
- |
- |
- |
- |
- |
- |
- | |
Loss from early extinguishment of debt |
(28.8) |
- |
- |
- |
- |
- |
- |
- | |
Restructuring and enterprise improvement costs |
(25.8) |
(1.0) |
(6.1) |
(14.3) |
- |
- |
- |
(4.8) | |
Executive compensation settlement |
- |
- |
- |
- |
- |
- |
(3.0) |
- | |
Foreign exchange differences |
1.6 |
0.5 |
13.1 |
0.2 |
(7.2) |
2.0 |
(2.2) |
3.8 | |
Loss from joint venture |
(0.6) |
- |
- |
- |
- |
- |
- |
- | |
Recognition of previously unrecognized deferred |
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tax assets |
158.9 |
- |
- |
- |
- |
- |
- |
- |
Income tax expense adjustment |
65.9 |
(0.9) |
1.3 |
2.9 |
(7.1) |
1.8 |
7.2 |
0.7 | |
Net earnings |
86.5 |
14.9 |
25.8 |
5.9 |
31.9 |
41.8 |
25.3 |
40.7 |
1 Excludes amortization of acquisition related intangible assets. |