SEGMENT INFORMATION

The Company's operations are organized into two reportable segments: Performance Solutions and Agricultural Solutions. The reporting segments represent businesses for which separate financial information is utilized by the CODM for purpose of allocating resources and evaluating performance. Each of the reportable segments has its own president, who reports to the CODM.

Segment Performance

The Company allocates resources and evaluates the performance of its operating segments based on net sales and adjusted EBITDA. Adjusted EBITDA for each segment is defined as earnings before interest, taxes, depreciation, and amortization, as further adjusted for additional items included in earnings that are not considered to be representative or indicative of each segment's ongoing business. Adjusted EBITDA for each segment also includes an allocation of corporate costs, such as compensation expense and professional fees.

The following table summarizes financial information regarding each reportable segment’s results of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
(amounts in millions)	2017		2016		2017		2016
Net Sales:
Performance Solutions	$	480.6	$	454.9	$	1,390.0	$	1,312.9
Agricultural Solutions	423.7		435.6		1,317.2		1,323.0
Consolidated net sales	$	904.3	$	890.5	$	2,707.2	$	2,635.9
Adjusted EBITDA:
Performance Solutions	$	115.5	$	109.9	$	320.5	$	290.7
Agricultural Solutions	81.1		80.2		274.4		260.7
Consolidated adjusted EBITDA	$	196.6	$	190.1	$	594.9	$	551.4

The following table reconciles net (loss) income attributable to common stockholders to adjusted EBITDA:



	Three months ended September 30,						Nine Months Ended September 30,
(amounts in millions)	2017			2016			2017				2016
Net (loss) income attributable to common stockholders	$	(69.2	)	$	104.7		$	(154.7	)		$	(39.0	)
Add (subtract):
Gain on amendment of Series B Convertible Preferred Stock	—			(32.9		)	—				(32.9		)
Net income (loss) attributable to the non-controlling interests	2.9			(5.9		)	4.8				(4.7		)
Income tax expense	37.5			20.4			67.3				65.7
Interest expense, net	85.6			98.5			260.0				289.7
Depreciation expense	21.3			18.9			58.4				55.8
Amortization expense	71.2			68.0			207.0				199.1
EBITDA	149.3			271.7			442.8				533.7
Adjustments to reconcile to adjusted EBITDA:
Restructuring expense	9.4			7.3			21.0				19.5
Amortization of inventory step-up	—			—			—				11.7
Acquisition and integration costs	0.5			3.2			4.5				27.4
Non-cash change in fair value of contingent consideration	1.0			0.2			3.2				4.3
Legal settlements	—			—			(10.6		)	*	(2.8		)
Foreign exchange loss on foreign denominated external and internal long-term debt	26.4			12.0			95.4				58.7
Debt refinancing costs	0.8			—			14.7				—
Gain on settlement agreement related to Series B Convertible Preferred Stock	—			(103.0		)	—				(103.0		)
Non-cash change in fair value of preferred stock redemption liability	—			(6.0		)	—				(6.0		)
Costs related to Proposed Separation	5.5			—			9.2				—
Other, net	3.7			4.7			14.7				7.9
Adjusted EBITDA	$	196.6		$	190.1		$	594.9			$	551.4


*	In the second quarter of 2017, the Company recorded a net gain of $10.6 million related to a settlement agreement reached between MacDermid Printing and DuPont. For additional information regarding the settlement, see Note 14, Contingencies, Environmental and Legal Matters, to the unaudited interim Condensed Consolidated Financial Statements included in this Quarterly Report.