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8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 02/04/2016
Entire Document
 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES
(dollars in millions)
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
Net loss
$
(122
)
 
$
(48
)
 
$
(271
)
 
$
(183
)
Plus: Interest expense, net
435

 
273

 
1,306

 
911

Income tax (benefit) expense
12

 
48

 
(60
)
 
236

Depreciation and amortization
545

 
534

 
2,125

 
2,102

Stock compensation expense
20

 
14

 
78

 
55

Loss on extinguishment of debt

 

 
128

 

(Gain) loss on derivative instruments, net
(6
)
 
4

 
4

 
7

Other, net
24

 
20

 
96

 
62

 
 
 
 
 
 
 
 
Adjusted EBITDA (a)
908

 
845

 
3,406

 
3,190

Less: Purchases of property, plant and equipment
(548
)
 
(543
)
 
(1,840
)
 
(2,221
)
 
 
 
 
 
 
 
 
Adjusted EBITDA less capital expenditures
$
360

 
$
302

 
$
1,566

 
$
969

 
 
 
 
 
 
 
 
Net cash flows from operating activities
$
611

 
$
630

 
$
2,359

 
$
2,359

Less: Purchases of property, plant and equipment
(548
)
 
(543
)
 
(1,840
)
 
(2,221
)
Change in accrued expenses related to capital expenditures
17

 
2

 
28

 
33

 
 
 
 
 
 
 
 
Free cash flow
$
80

 
$
89

 
$
547

 
$
171



(a) See page 1 of this addendum for detail of the components included within adjusted EBITDA.

The above schedules are presented in order to reconcile adjusted EBITDA and free cash flows, both non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.

Addendum to Charter Communications, Inc. Fourth Quarter 2015 Earnings Release
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