|
The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, |
| (in millions) |
2023 |
2022 |
| Adjusted OIBDA |
$ |
211 |
|
329 |
|
| Gains on sale leaseback transactions |
113 |
|
— |
|
Restructuring and fire related costs, net of (recoveries) (including Rocky Mount inventory losses) |
4 |
|
(82) |
|
| Stock-based compensation |
(9) |
|
(8) |
|
| Depreciation and amortization |
(89) |
|
(109) |
|
| Operating income |
230 |
|
130 |
|
| (Losses) gains on financial instruments |
(1) |
|
1 |
|
| Interest expense, net |
(37) |
|
(62) |
|
| Foreign currency (loss) gain |
(6) |
|
8 |
|
| Other income |
— |
|
20 |
|
| Income before income taxes |
$ |
186 |
|
97 |
|
|