|
The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
|
|
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|
|
|
|
|
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|
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|
Three months ended September 30, |
Nine months ended September 30, |
| (in millions) |
2022 |
2021 |
2022 |
2021 |
| Adjusted OIBDA |
$ |
205 |
|
440 |
|
861 |
|
1,467 |
|
| Gains on sales of fixed assets |
277 |
|
— |
|
520 |
|
— |
|
| Fire related costs, net of recoveries and Rocky Mount inventory losses (see note 13) |
137 |
|
— |
|
39 |
|
— |
|
| Impairment losses |
(2,600) |
|
— |
|
(2,600) |
|
— |
|
| Stock-based compensation |
(9) |
|
(13) |
|
(27) |
|
(33) |
|
| Depreciation and amortization |
(94) |
|
(111) |
|
(305) |
|
(315) |
|
| Operating (loss) income |
(2,084) |
|
316 |
|
(1,512) |
|
1,119 |
|
| Equity in losses of investee |
— |
|
(2) |
|
— |
|
(2) |
|
| (Losses) gains on financial instruments |
— |
|
(5) |
|
1 |
|
(8) |
|
| Interest expense, net |
(50) |
|
(64) |
|
(175) |
|
(192) |
|
| Foreign currency gain (loss) |
21 |
|
— |
|
50 |
|
(4) |
|
| Loss on extinguishment of debt |
— |
|
— |
|
(6) |
|
— |
|
| Other income |
— |
|
— |
|
20 |
|
8 |
|
| (Loss) income before income taxes |
$ |
(2,113) |
|
245 |
|
(1,622) |
|
921 |
|
|