Note: The presentation of the performance measures above are not in conformity with generally accepted accounting principles (GAAP). These measures may not be comparable to similar measures of other companies as not all companies calculate these measures in the same manner.
WABCO HOLDINGS INC. Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow (Unaudited) Three Months Ended Year Ended(Amounts in millions) December 31, December 31, ---------------------------------------- 2012 2011 2012 2011 ----------------------------------------Net Cash Provided by Operating Activities $ 76.3 $ 86.0 $ 358.3 $ 332.0Deductions or Additions to Reconcile to Free Cash Flow:Net purchases of property, plant, equipment and computer software (33.2) (39.6) (100.5) (105.2) ----------------------------------------Free Cash Flow $ 43.1 $ 46.4 $ 257.8 $ 226.8 ---------------------------------------- ---------------------------------------- Less: Streamlining & separation payments $ (5.8) $ (4.6) $ (16.5) $ (22.1) ----------------------------------------Free Cash Flow excluding streamlining & separation payments $ 48.9 $ 51.0 $ 274.3 $ 248.9 ---------------------------------------- ----------------------------------------
Note: This statement reconciles net cash provided by operating activities to free cash flow. Management uses free cash flow, which is not defined by US GAAP, to measure the Company's operating performance. Free cash flow is also one of the several measures used to determine incentive compensation for certain employees.
WABCO HOLDINGS INC. Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year 2013 Guidance (Unaudited)(Amounts in millions, except per share data) Full Year 2013 Guidance -----------------Operating IncomeReported Operating Income Margin 11.7% - 12.7% Streamlining cost, impact to margin 0.4% Separation costs, impact to margin 0.2% -----------------Performance Operating Income Margin 12.3% - 13.3% ----------------- -----------------Net Income Attributable to CompanyReported Net Income Attributable to Company $459.7 - $491.3 Streamlining cost, net of tax 8.5 Tax items (200.0) Separation costs, net of tax and separation related taxes 4.0 -----------------Performance Net Income Attributable to Company $272.2 - $303.8 ----------------- -----------------Reported Net Income Attributable to Company per Diluted Common Share $7.26 - $7.76Performance Net Income Attributable to Company per Diluted Common Share $4.30 - $4.80Diluted common shares outstanding approx. 63.3
Note: The presentation of performance net income and performance net income per diluted common share is not in conformity with generally accepted accounting principles (GAAP). These measures may not be comparable to similar measures of other companies as not all companies calculate these measures in the same manner.
Contacts:
Media, investors and analysts: WABCO Holdings Inc.
Jason Campbell
+1 732 369 7477
[email protected]
www.wabco-auto.com
