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The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
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Three months ended September 30, |
Nine months ended September 30, |
| (in millions) |
2021 |
2020 |
2021 |
2020 |
| Adjusted OIBDA |
$ |
440 |
|
512 |
|
1,467 |
|
1,409 |
|
| Stock-based compensation |
(13) |
|
(10) |
|
(33) |
|
(26) |
|
| Depreciation and amortization |
(111) |
|
(114) |
|
(315) |
|
(344) |
|
| Operating income |
316 |
|
388 |
|
1,119 |
|
1,039 |
|
| Equity in (losses) earnings of investee |
(2) |
|
1 |
|
(2) |
|
(1) |
|
| (Losses) gains on financial instruments |
(5) |
|
1 |
|
(8) |
|
(3) |
|
| Interest expense, net |
(64) |
|
(65) |
|
(192) |
|
(194) |
|
| Foreign currency gain (loss) |
— |
|
1 |
|
(4) |
|
3 |
|
| Loss on extinguishment of debt |
— |
|
(42) |
|
— |
|
(42) |
|
| Other income |
— |
|
— |
|
8 |
|
— |
|
| Income before income taxes |
$ |
245 |
|
284 |
|
921 |
|
802 |
|
|