EX-10.56



 Exhibit 10.56 
  

									
	 	  	(Unaudited)	 
	 	  	Year ended	 
	 Diluted EPS reconciliation
	  	Dec. 31,
2013	 	  	Dec. 31,
2012	 
	 Non-GAAP diluted EPS (1)
	  	$	2.39	  	  	$	1.70	  
		  	  
	  
	 	  	  
	  
	 
	 GAAP diluted EPS
	  	$	2.11	  	  	$	1.52	  
	 Adjustments for non-cash interest related to ASC 470, net of tax, and incremental dilutive shares covered by hedges
	  	$	0.28	  	  	$	0.18	  
		  	  
	  
	 	  	  
	  
	 
	 Non-GAAP diluted EPS
	  	$	2.39	  	  	$	1.70	  
		  	  
	  
	 	  	  
	  
	 

  

	(1)	Non-GAAP net income and non-GAAP diluted EPS (along with non-GAAP weighted average diluted shares) are non-GAAP financial measures which represent net income excluding any non-cash interest related to ASC
Topic 470 and non-cash non-recurring gains and charges, net of tax, and any incremental dilutive shares related to our convertible notes that are covered by their respective hedges. The Company believes these are useful financial measures in
evaluating its financial condition because they are representative of only actual cash results. 

  

									
	 	  	(Unaudited)	 
	 EBITDA Reconciliation from Net Income
	  	Year ended	 
	 	  	Dec. 31,
2013	 	  	Dec. 31,
2012	 
	 EBITDA (2)
	  	$	262,943	  	  	$	216,963	  
		  	  
	  
	 	  	  
	  
	 
	 Reconciliation of EBITDA:
	  				  			
	 Net Income
	  	 	128,048	  	  	 	109,408	  
	 Add: Income taxes
	  	 	58,075	  	  	 	58,963	  
	 Add: Net interest and other expense
	  	 	67,995	  	  	 	41,826	  
	 Add: Depreciation and amortization of certain intangibles
	  	 	8,825	  	  	 	6,766	  
		  	  
	  
	 	  	  
	  
	 
	 EBITDA
	  	$	262,943	  	  	$	216,963	  
		  	  
	  
	 	  	  
	  
	 









									
	 	  	(Unaudited)	 
	 EBITDA Reconciliation from Cash Flow from Operations
	  	Year ended	 
	 	  	Dec. 31, 2013	 	 	Dec. 31, 2012	 
	 EBITDA (2)
	  	$	262,943	  	 	$	216,963	  
		  	  
	  
	 	 	  
	  
	 
	 Reconciliation of EBITDA:
	  				 			
	 Net cash provided by operating activities
	  	 	232,789	  	 	 	204,434	  
	 Add / (Less):
	  				 			
	 Cash interest expense, net
	  	 	39,224	  	 	 	20,503	  
	 Cash taxes
	  	 	26,659	  	 	 	34,578	  
	 Other
	  	 	1,963	  	 	 	4,514	  
	 Net income attributable to non-controlling interest
	  	 	(14,539	)	 	 	(14,101	)
	 Stock compensation expense
	  	 	(20,018	)	 	 	(11,491	)
	 Provision for doubtful accounts
	  	 	(9,461	)	 	 	(4,839	)
	 Net change in balance sheet items
	  	 	6,326	  	 	 	(16,635	)
		  	  
	  
	 	 	  
	  
	 
	 EBITDA
	  	$	262,943	  	 	$	216,963	  
		  	  
	  
	 	 	  
	  
	 

  

	(2)	EBITDA, a non-GAAP financial measure, represents net income before income taxes, interest, other non-operating gains and losses, depreciation and amortization expenses. The Company believes EBITDA provides additional
information for determining its ability to meet future debt service requirements, investing and capital expenditures and is useful because it provides supplemental information to assist investors in evaluating Company’s financial condition.


  

									
	 	  	(Unaudited)	 
	 	  	Year ended	 
	 	  	Dec. 31, 2013	 	 	Dec. 31, 2012	 
	 Free Cash Flow (3)
	  	$	229,902	  	 	$	180,485	  
		  	  
	  
	 	 	  
	  
	 
	 Reconciliation of Free Cash Flow:
	  				 			
	 Net income
	  	 	128,048	  	 	 	109,408	  
	 Add/(Less):
	  				 			
	 Depreciation and amortization of intangibles
	  	 	8,825	  	 	 	6,766	  
	 Amortization of convertible note
	  	 	24,838	  	 	 	20,098	  
	 Amortization of finance fees
	  	 	4,816	  	 	 	3,263	  
	 Non-cash compensation expense
	  	 	20,018	  	 	 	11,492	  
	 Provision for doubtful accounts
	  	 	9,461	  	 	 	4,839	  
	 Non-cash income taxes
	  	 	34,280	  	 	 	29,617	  
	 Other
	  	 	825	  	 	 	(3,400	)
		  	  
	  
	 	 	  
	  
	 
	 subtotal
	  	 	103,063	  	 	 	72,675	  
	 Less: Capital expenditures
	  	 	(1,209	)	 	 	(1,598	)
		  	  
	  
	 	 	  
	  
	 
	 Free Cash Flow
	  	$	229,902	  	 	$	180,485	  
		  	  
	  
	 	 	  
	  
	 









									
	 	  	(Unaudited)	 
	 Free Cash Flow Reconciliation from Cash Flow from Operations
	  	Year ended	 
	 	  	Dec. 31, 2013	 	 	Dec. 31, 2012	 
	 Free Cash Flow (3)
	  	$	229,902	  	 	$	180,485	  
		  	  
	  
	 	 	  
	  
	 
	 Reconciliation of Free Cash Flow:
	  				 			
	 Net cash provided by operating activities
	  	 	232,789	  	 	 	204,434	  
	 Add / (Less)
	  				 			
	 Gain on sale of securities
	  	 	5,395	  	 	 	—  	 
	 Non-cash deferred tax items
	  	 	2,864	  	 	 	5,232	  
	 Net income attributable to non-controlling interest
	  	 	(14,539	)	 	 	(14,101	)
	 Capital expenditures
	  	 	(1,209	)	 	 	(1,598	)
	 Other
	  	 	(1,724	)	 	 	3,153	  
	 Net change in balance sheet items
	  	 	6,326	  	 	 	(16,635	)
		  	  
	  
	 	 	  
	  
	 
	 Free Cash Flow
	  	$	229,902	  	 	$	180,485	  
		  	  
	  
	 	 	  
	  
	 

  

	(3)	Free Cash Flow, a non-GAAP financial measure, represents net income before depreciation, amortization, non-cash compensation expense, bad debt expense, net equity earnings from certain joint ventures, non-cash income
taxes, non-cash interest related to convertible debt, non-cash non-recurring gains and charges, less capital expenditures. Free Cash Flow excludes any changes in Balance Sheet items, mandatory debt service requirements and other non-discretionary
expenditures. Free Cash Flow should not be considered in isolation, as a measure of residual cash flow available for discretionary purposes, or as an alternative to operating results presented in accordance with GAAP. The Company believes Free Cash
Flow is useful because it provides supplemental information to assist investors in evaluating the Company’s financial condition.