United states securities and exchange commission

 

3

Table of Contents

The following table represents the reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDAR to net income (loss) for the periods indicated below:

 

		For the Years ended December 31,
		2012				2013				2014				2015				2016				2016
		(in thousands of pesos)																				(in thousands of U.S. dollars) (1)
Reconciliation:
Net income			203,317				265,292				605,184				2,463,870				3,519,489				170,320
Plus (minus):
Finance cost			89,731				125,737				32,335				21,703				35,116				1,699
Finance income			(13,611	)			(24,774	)			(23,464	)			(47,034	)			(102,591	)			(4,965	)
Provision for income tax			3,481				17,550				38,720				1,038,348				1,457,182				70,518
Depreciation and amortization			211,002				301,531				342,515				456,717				536,543				25,965
EBITDA			493,920				685,336				995,290				3,933,604				5,445,739				263,537
Exchange loss (gain), net			95,322				(66,428	)			(448,672	)			(966,554	)			(2,169,505	)			(104,990	)
Adjusted EBITDA			589,242				618,908				546,618				2,967,050				3,276,234				158,547
Aircraft and engine rent expense			1,885,696				2,187,339				2,534,522				3,525,336				5,590,058				270,522
Adjusted EBITDAR			2,474,938				2,806,247				3,081,140				6,492,386				8,866,292				429,069