Table 5: Adjusted EBITDA and Free Cash Flow (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| October 3, 2021 | July 4, 2021 |
September 27,
2020 | |||||||||
| Net income (loss) | $ | 526 | $ | 406 | $ | (18 | ) | ||||
| Reconciling items to adjusted net income | |||||||||||
| Financial (income) expense | 93 | 100 | 106 | ||||||||
| (Benefit) provision for income taxes | 95 | 65 | (57 | ) | |||||||
| Depreciation | 139 | 135 | 139 | ||||||||
| Amortization | 167 | 170 | 450 | ||||||||
| Adjusted net income | $ | 1,020 | $ | 876 | $ | 620 | |||||
| Reconciling items to adjusted EBITDA | |||||||||||
| Results of equity-accounted investees | (3 | ) | 2 | 1 | |||||||
| Restructuring | — | 1 | 21 | ||||||||
| Stock based costs | 81 | 93 | 83 | ||||||||
| Merger-related costs | — | — | 1 | ||||||||
| Other incidental items 1) | 8 | 4 | 2 | ||||||||
| Adjusted EBITDA | $ | 1,106 | $ | 976 | $ | 728 | |||||
| Trailing twelve month adjusted EBITDA | $ | 3,924 | $ | 3,546 | $ | 2,708 | |||||
| 1) Excluding amortization related to: | |||||||||||
| - other incidental items | $ | — | $ | — | $ | 6 | |||||
| ($ in millions) | Three months ended | ||||||||||
| October 3, 2021 | July 4, 2021 |
September 27,
2020 | |||||||||
| Net cash provided by (used for) operating activities | $ | 924 | $ | 636 | $ | 527 | |||||
| Net capital expenditures on property, plant and equipment | (200 | ) | (150 | ) | (68 | ) | |||||
| Non-GAAP free cash flow | $ | 724 | $ | 486 | $ | 459 | |||||
| Non-GAAP free cash flow as percent of Revenue | 25 | % | 19 | % | 20 | % | |||||
