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Calpine Reports Fourth Quarter And Full Year 2012 Results, Raises Adjusted Free Cash Flow Per Share Guidance And Increases Share Repurchase Authorization By $400 Million

7 Increase in sales, general and administrative expense excludes changes in stock-based compensation expense, amortization and other items. See the table titled “Consolidated Adjusted EBITDA Reconciliation” for the actual amounts of these items for the years ended December 31, 2011 and 2012.

Table 1: Net Income, As Adjusted

 
Three Months Ended December 31,     Year Ended December 31,
2012   2011 2012   2011
(in millions)
Net income (loss) attributable to Calpine $ 100 $ (13 ) $ 199 $ (190 )
Debt extinguishment costs (1) 18 30 94
(Gain) on sale of assets, net (1) (222 ) (222 )
Unrealized MtM (gain) loss on derivatives (1) (2) 31 (72 ) (72 ) (30 )
Other items (1) (3) (13 ) 42   143   113  
Net Income (loss), As Adjusted (4) $ (86 ) $ (43 ) $ 78   $ (13 )

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