|
The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, |
| (in millions) |
2022 |
2021 |
| Adjusted OIBDA |
$ |
329 |
|
492 |
|
| Fire related costs, net and Rocky Mount inventory losses (see note 13) |
(82) |
|
— |
|
| Stock-based compensation |
(8) |
|
(9) |
|
| Depreciation and amortization |
(109) |
|
(102) |
|
| Operating income |
130 |
|
381 |
|
| Gains on financial instruments |
1 |
|
1 |
|
| Interest expense, net |
(62) |
|
(63) |
|
| Foreign currency gain (loss) |
8 |
|
(2) |
|
| Other income |
20 |
|
6 |
|
| Income before income taxes |
$ |
97 |
|
323 |
|
|