EX-99.2 6 tm2032288d1_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

 

TERMINIX GLOBAL HOLDINGS, INC.
(f/k/a SERVICEMASTER GLOBAL HOLDINGS, INC.)
Supplemental Unaudited Pro Forma Financial Information
(In millions)
                         

   Six months ended   Year ended 
   June 30, 2020   December 31, 2019   December 31, 2018   December 31, 2017 
Income (loss) from continuing operations  $56   $89   $(227)  $292 
Depreciation and amortization expense   55    96    83    79 
Acquisition-related costs   1    16    4     
Termite damage claims reserve adjustment       53         
401(k) Plan corrective contribution               (3)
Fumigation related matters           3    4 
Non-cash stock-based compensation expense   10    14    13    8 
Restructuring and other charges   12    14    17    20 
Non-cash impairment of software and other related costs               1 
(Gain) loss on investment in frontdoor, inc.       (40)   249     
Provision (benefit) for income taxes   21    15    14    (279)
Loss on extinguishment of debt       8    10    6 
Interest expense   25    47    133    150 
Adjusted EBITDA  $179   $313   $297   $277 
                     
Terminix   184    319    333    330 
ServiceMaster Brands                
European Pest Control and Other   1    5    9    1 
Costs historically allocated to ServiceMaster Brands   (6)   (11)   (11)   (10)
Costs historically allocated to American Home Shield           (33)   (44)
Adjusted EBITDA  $179   $313   $297   $277 

 

Costs historically allocated to ServiceMaster Brands and Costs historically allocated to American Home Shield, which business was spun off on October 1, 2018, include historically incurred costs of certain corporate-level activities performed on behalf of ServiceMaster Brands in all years presented and the American Home Shield Business for the years ended December 31, 2018 and 2017. Such corporate costs include: accounting and finance, legal, human resources, information technology, insurance, real estate, tax services and other costs. These costs will be transitioned through a combination of (1) immediate transfers of certain activities to ServiceMaster Brands and American Home Shield and (2) payments to the Company by ServiceMaster Brands and American Home Shield under transition services agreements.

 

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