Pro Forma EBITDA Reconciliation
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  • 1. Pro Forma EBITDA ReconciliationJune 30, 2012 LTM EBITDA ($ millions) (a)Consolidated Net Income $              70+ Consolidated Interest Expense, net 381+ Provision (Benefit) for Income Taxes (157)+ Depreciation and Amortization 747 (b)+ Restructuring and Integration Costs 141+ Acquisition Related Costs 51+ Acquisition In‐Process Research and Development 110+ Stock‐based Compensation 72 (c)+ Legal Settlements 57+ Loss on Extinguishment of Debt 14 (d)+ Other Non‐Cash Charges 170LTM 30‐June‐2012 Adjusted EBITDA $       1,656+ Pro Forma Impact of Acquisitions with Synergies 266LTM 30‐June‐2012 Pro Forma Adjusted EBITDA $       1,922(a) Consolidated Net Income as defined by the Third Amended and Restated Credit Guaranty Agreement, reflects the adjustment to (i) exclude gains and losses on Asset sales and (ii) net income or loss derived from Joint Ventures.(b) Restructuring Costs as defined by the Third Amended and Restated Credit Guaranty Agreement, shall not exceed $100M during a twelve month period, except for costs related to Biovail‐Valeant merger, Sanitas, Dermik and Ortho acquisitions.  As a result of the cap, $3M is excluded.(c)  LTM for Legal settlements excludes $9M for a charge and payment occurring within the same reporting period.(d)  Includes impairment charges, contingent consideration fair value adjustments, amortization of inventory step up , amortization of alliance product assets & pp&e step up and other one‐time items.