in Source Medical Solutions, Inc. Adjusted Consolidated EBITDA for the
three months and year ended December 31, 2006 included a $12.8 million
and a $47.8 million, respectively, recovery of incentive bonuses from
our former chairman and chief executive officer.
* Adjusted Consolidated EBITDA includes general and administrative
expenses for all divisions. General and administrative expenses
approximated 6.3% and 7.7% of consolidated net operating revenues for
the three months and year ended December 31, 2007, respectively.
However, these percentages decrease by 30 basis points and 200 basis
points, respectively, if you include the revenues of the divisions
reported in discontinued operations.
HealthSouth Corporation and Subsidiaries
Supplemental Non-GAAP Disclosures
We define operating earnings as income before (1) loss on early
extinguishment of debt, (2) interest expense and amortization of debt
discounts and fees, (3) other income, (4) loss (gain) on interest rate
swap, and (5) income tax (benefit) expense. We use operating earnings as an
analytical indicator to assess our performance. Our operating earnings for
the three months and years ended December 31, 2007 and 2006 were as
Three Months Ended Year Ended
December 31, December 31,
2007 2006 2007 2006
Net operating revenues $439.0 $422.8 $1,752.5 $1,711.6
Total operating expenses 411.8 417.9 1,582.0 1,607.1
Equity in net income of'/>"/>
|SOURCE HealthSouth Corporation|
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