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SEC Filings

8-K
NEXEO SOLUTIONS, INC. filed this Form 8-K on 05/09/2017
Entire Document
 
 
Non-GAAP Reconciliation (continued) 18 Nexeo Solutions, Inc. and Subsidiaries Quarterly Other Operating Expenses, Net Q2-FY16 Apr. 1-Jun. 8 2016(1) Q2-FY16(2) Q3-FY16(3) Q4-FY16 Q1-FY17 Q2-FY17 Management add-backs (4) $ 1.3 $ 1.9 $ 0.1 $ 0.6 $ 3.4 $ 2.5 $ 3.4 Change in FV of contingent consideration obligations - - - - (11.2) 10.6 10.0 Foreign exchange (gains) losses, net (5) (0.3) 1.3 - 0.4 0.7 0.8 0.8 Management fees (6) 0.8 0.5 - - - - - Compensation expense related to management equity plan (non-cash) 0.3 0.1 - 0.3 1.2 1.4 1.3 Gain on sale of Franklin Park facility - - - - 2.6 - - Inventory step up - - - 6.9 6.9 - - Transaction and other transaction-related items (7) 6.3 26.1 1.8 15.9 3.3 0.8 0.3 Other operating expenses, net $ 8.4 $ 29.9 $ 1.9 $ 24.1 $ 6.9 $ 16.1 $ 15.8 (1) Includes 69 days of operating activities (2) On June 9, 2016, the Board of Directors approved a change in fiscal year end of the Company from December 31 to September 30; The periods above reflect a September 30 fiscal year end of the Successor (3) Includes 22 days of the acquired business’ operating activities (4) One-time management adjustments associated with integration, restructuring and transformational activities not directly related to the business combination (5) Includes the impact of net realized and unrealized foreign exchange gains and losses related to transactions in currencies other than the functional currency of the respective legal entity for the purpose of evaluating the Company’s performance and facilitate more meaningful comparisons of performance to other fiscal periods (6) Management, monitoring, consulting, reimbursable fees and leverage fees, per the agreement with TPG Capital, L.P.; In connection with the business combination, this agreement was terminated (7) Includes professional and transaction costs related to acquisitions, potential acquisitions and other business combination related items Predecessor Successor ($ in millions, Unaudited)