and should not be considered as an alternative to net income (loss) or
to cash flows from operating, investing, or financing activities.
Because Adjusted Consolidated EBITDA is not a measure determined in
accordance with generally accepted accounting principles and is
susceptible to varying calculations, Adjusted Consolidated EBITDA, as
presented, may not be comparable to other similarly titled measures
presented by other companies.
Our Credit Agreement allows certain items to be added to arrive at
Adjusted Consolidated EBITDA that are viewed as not being ongoing
costs once the Company has completed its restructuring.
After consummation of the divestitures of our surgery centers,
outpatient, and diagnostic divisions, and in accordance with our
Credit Agreement, Adjusted Consolidated EBITDA is calculated to give
effect to each divestiture, including adjustments for the allocation
of corporate overhead to each divested division. However, these
allocations are estimates and are not necessarily indicative of the
Adjusted Consolidated EBITDA that would have resulted had the
applicable divisions been divested as of the beginning of each period
presented. Accordingly, these adjustments are not included in the
above table. In addition, we are allowed to add other income,
including interest income, to the calculation of Adjusted Consolidated
EBITDA under our Credit Agreement. This includes interest income
associated with our federal income tax recovery. This amount has not
been included in the above calculation as it would not be indicative
of our Adjusted Consolidated EBITDA for future periods.
Adjusted Consolidated EBITDA for the year ended December 31, 2007
|SOURCE HealthSouth Corporation|
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