Key Arrangements ♫
Bohemian Rhaspody - Queen
This Company acquired the Company that produced Toy Story
Disney / Pixar
The CFO was terminated January of 2022, and a new CFO was not hired until June of 2022. The Company expensed severance of 700k in February 2022 related to this termination.
Add-back one time cost of severance of 700k
Adding compensation exp for CFO in the period where the role is vacant (salary + fringe)
This person has been the MVP of announcing the arrival of the snack cart
SEAN!
This Company acquired the company that owned Candy Crush (hint: this was in last week's presentation)
Microsoft / Activision Blizzard
A company changed their matching formula of its 401(k) from 100% of the first 4% to 100% of the first 6%. The change happened in Jan 2023.
- additional 401k expense
(add back the expense to prior years for the difference in matching contributions) Adjustment would be in 2021 and 2022, and the LTM period would be hit for the 2022 portion.
This person does not pay NYC taxes and went to culinary school
LOGAN!
This was the "largest merger in history" until it fell apart in 2009, 9 years after it had originally signed. It is also considered a textbook example of how not to conduct mergers and acquisitions.
AOL / Time Warner
Which components of Pension Expense should be "Added Back" to EBITDA?
a. Service Cost
b. Interest Cost
c. Expected return on assets
d. All non-service cost components
e. All components of pension expense
d. All non-service cost components
This person recently went to Europe and made pasta with a nice man who she is not related to!
EMMA!