EX-99.5 6 a08-21396_1ex99d5.htm EX-99.5

Exhibit 99.5

 

IHS INC.

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO

MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(In thousands)

 

2008

 

 

 

Three Months Ended February 29, 2008

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

38,555

 

$

10,603

 

$

3,971

 

$

(22,196

)

$

30,933

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

12,701

 

12,701

 

(Gain) on sale of assets, net

 

 

(119

)

 

 

(119

)

Depreciation and amortization

 

4,906

 

3,243

 

35

 

639

 

8,823

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(1,563

)

(1,563

)

Minority interest

 

 

16

 

 

 

16

 

Equity investment adjusted EBITDA

 

 

 

 

 

 

Adjusted EBITDA

 

$

43,461

 

$

13,743

 

$

4,006

 

$

(10,419

)

$

50,791

 

 

 

 

 

Three Months Ended May 31, 2008

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

39,449

 

$

11,801

 

$

3,789

 

$

(22,223

)

$

32,816

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

10,377

 

10,377

 

(Gain) on sale of assets, net

 

 

 

 

 

 

Depreciation and amortization

 

5,372

 

3,444

 

37

 

830

 

9,683

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(1,559

)

(1,559

)

Minority interest

 

 

(31

)

 

 

(31

)

Equity investment adjusted EBITDA

 

 

2,022

 

 

 

2,022

 

Adjusted EBITDA

 

$

44,821

 

$

17,236

 

$

3,826

 

$

(12,575

)

$

53,308

 

 

 

 

Six Months Ended May 31, 2008

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

78,004

 

$

22,404

 

$

7,760

 

$

(44,419

)

$

63,749

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

23,078

 

23,078

 

(Gain) on sale of assets, net

 

 

(119

)

 

 

(119

)

Depreciation and amortization

 

10,278

 

6,687

 

72

 

1,469

 

18,506

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(3,122

)

(3,122

)

Minority interest

 

 

(15

)

 

 

(15

)

Equity investment adjusted EBITDA

 

 

2,022

 

 

 

2,022

 

Adjusted EBITDA

 

$

88,282

 

$

30,979

 

$

7,832

 

$

(22,994

)

$

104,099

 

 



 

2007

 

 

 

Three Months Ended February 28, 2007

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

29,262

 

$

7,519

 

$

3,253

 

$

(14,150

)

$

25,884

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

7,336

 

7,336

 

(Gain) on sale of assets, net

 

(1

)

 

 

(750

)

(751

)

Restructuring charge

 

(9

)

 

 

 

(9

)

Depreciation and amortization

 

3,213

 

848

 

22

 

497

 

4,580

 

Non-cash net periodic pension and post retirement benefits

 

 

2

 

 

(982

)

(980

)

Minority interest

 

 

15

 

 

 

15

 

Adjusted EBITDA

 

$

32,465

 

$

8,384

 

$

3,275

 

$

(8,049

)

$

36,075

 

 

 

 

Three Months Ended May 31, 2007

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

29,875

 

$

9,080

 

$

1,735

 

$

(14,805

)

$

25,885

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

6,045

 

6,045

 

(Gain) on sale of assets, net

 

1

 

 

 

 

 

(6

)

(5

)

Restructuring charge

 

9

 

 

 

 

 

 

 

9

 

Depreciation and amortization

 

3,366

 

921

 

37

 

597

 

4,921

 

Non-cash net periodic pension and post retirement benefits

 

 

(2

)

 

(1,015

)

(1,017

)

Minority interest

 

 

(12

)

 

 

(12

)

Adjusted EBITDA

 

$

33,251

 

$

9,987

 

$

1,772

 

$

(9,184

)

$

35,826

 

 

 

 

Three Months Ended August 31, 2007

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

35,209

 

$

7,636

 

$

3,327

 

$

(16,700

)

$

29,472

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

9,142

 

9,142

 

(Gain) on sale of assets, net

 

 

 

 

 

 

Restructuring charge

 

 

 

 

 

 

Depreciation and amortization

 

3,766

 

2,723

 

31

 

598

 

7,118

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(991

)

(991

)

Minority interest

 

 

(32

)

 

 

(32

)

Adjusted EBITDA

 

$

38,975

 

$

10,327

 

$

3,358

 

$

(7,951

)

$

44,709

 

 

 

 

Three Months Ended November 30, 2007

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

39,438

 

$

10,966

 

$

4,267

 

$

(19,310

)

$

35,361

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

7,918

 

7,918

 

(Gain) on sale of assets, net

 

 

 

 

(2

)

(2

)

Restructuring charge

 

 

(154

)

 

 

(154

)

Depreciation and amortization

 

4,897

 

3,309

 

38

 

615

 

8,859

 

Non-cash net periodic pension and post retirement benefits

 

 

1

 

 

(988

)

(987

)

Minority interest

 

 

(35

)

 

 

(35

)

Adjusted EBITDA

 

$

44,335

 

$

14,087

 

$

4,305

 

$

(11,767

)

$

50,960

 

 

 

 

Year Ended November 30, 2007

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

133,784

 

$

35,201

 

$

12,582

 

$

(64,965

)

$

116,602

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

30,441

 

30,441

 

(Gain) on sale of assets, net

 

 

 

 

(758

)

(758

)

Restructuring charge

 

 

(154

)

 

 

(154

)

Depreciation and amortization

 

15,242

 

7,801

 

128

 

2,307

 

25,478

 

Non-cash net periodic pension and post retirement benefits

 

 

1

 

 

(3,976

)

(3,975

)

Minority interest

 

 

(64

)

 

 

(64

)

Adjusted EBITDA

 

$

149,026

 

$

42,785

 

$

12,710

 

$

(36,951

)

$

167,570

 

 



 

2006

 

 

 

Three Months Ended February 28, 2006

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

21,769

 

$

6,369

 

$

2,327

 

$

(9,052

)

$

21,413

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

3,666

 

3,666

 

Recovery of investment

 

 

 

 

 

 

Restructuring charge

 

 

(18

)

 

 

 

(18

)

Offering costs

 

 

 

 

20

 

20

 

Depreciation and amortization

 

2,517

 

615

 

30

 

208

 

3,370

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(726

)

(726

)

Minority interest

 

 

(25

)

 

 

(25

)

Adjusted EBITDA

 

$

24,286

 

$

6,941

 

$

2,357

 

$

(5,884

)

$

27,700

 

 

 

 

Three Months Ended May 31, 2006

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

21,572

 

$

5,600

 

$

1,578

 

$

(10,190

)

$

18,560

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

4,359

 

4,359

 

Recovery of investment

 

 

(330

)

330

 

 

 

Restructuring charge

 

 

 

 

 

 

Offering costs

 

 

 

 

 

 

Depreciation and amortization

 

2,221

 

815

 

35

 

271

 

3,342

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(1,218

)

(1,218

)

Minority interest

 

 

(56

)

 

 

(56

)

Adjusted EBITDA

 

$

23,793

 

$

6,029

 

$

1,943

 

$

(6,778

)

$

24,987

 

 

 

 

Three Months Ended August 31, 2006

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

24,458

 

$

6,363

 

$

1,977

 

$

(11,019

)

$

21,779

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

4,440

 

4,440

 

(Gain) on sale of assets, net

 

53

 

 

 

 

53

 

Restructuring charge

 

 

 

 

 

 

Offering costs

 

 

 

 

 

 

CEO separation costs

 

 

 

 

 

 

Depreciation and amortization

 

2,881

 

973

 

31

 

333

 

4,218

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(1,268

)

(1,268

)

Minority interest

 

 

(89

)

 

 

(89

)

Adjusted EBITDA

 

$

27,392

 

$

7,247

 

$

2,008

 

$

(7,514

)

$

29,133

 

 

 

 

Three Months Ended November 30, 2006

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

23,558

 

$

11,806

 

$

2,832

 

$

(19,763

)

$

18,433

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

9,237

 

9,237

 

(Gain) on sale of assets, net

 

3

 

 

 

 

3

 

Restructuring charge

 

1,303

 

472

 

 

568

 

2,343

 

Offering costs

 

 

 

 

758

 

758

 

CEO separation costs

 

 

 

 

1,857

 

1,857

 

Depreciation and amortization

 

3,519

 

939

 

31

 

295

 

4,784

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(1,209

)

(1,209

)

Minority interest

 

 

2

 

 

 

2

 

Adjusted EBITDA

 

$

28,383

 

$

13,219

 

$

2,863

 

$

(8,257

)

$

36,208

 

 



 

 

 

Year Ended November 30, 2006

 

 

 

Americas

 

EMEA

 

APAC

 

Shared
Services

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

91,357

 

$

30,138

 

$

8,714

 

$

(50,024

)

$

80,185

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

21,702

 

21,702

 

(Gain) on sale of assets, net

 

56

 

 

 

 

56

 

Recovery of investment

 

 

(330

)

330

 

 

 

Restructuring charge

 

1,303

 

454

 

 

568

 

2,325

 

Offering costs

 

 

 

 

778

 

778

 

CEO separation costs

 

 

 

 

1,857

 

1,857

 

Depreciation and amortization

 

11,138

 

3,342

 

127

 

1,107

 

15,714

 

Non-cash net periodic pension and post retirement benefits

 

 

 

 

(4,421

)

(4,421

)

Minority interest

 

 

(168

)

 

 

(168

)

Adjusted EBITDA

 

$

103,854

 

$

33,436

 

$

9,171

 

$

(28,433

)

$

118,028