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EX-99.2 - EX-99.2 - Science Applications International Corpd893758dex992.htm
8-K - 8-K - Science Applications International Corpd893758d8k.htm

Exhibit 99.1 Pro Forma LTM Adjusted EBITDA Reconciliation (1) SAIC Unisys Federal Pro Forma Adjustments Pro Forma Combined ($ in M) Revenue $6,031 $726 $292 $7,049 Net Income $160 $49 ($80) 129 Interest Expense $84 -- 53 137 Interest Income ($4) -- -- (4) Income Taxes $50 17 (28) 39 Depreciation & Amortization $114 2 104 220 (2) Acquisition & Integration Costs $95 1 (1) 95 Reported Adjusted EBITDA $499 $69 $48 $616 (3) Credit Agreement EBITDA adjustments 84 -- 5 89 (4) Pro Forma Adjusted EBITDA $583 $69 $53 $705 Pro Forma Adjusted EBITDA Margin 9.7% 9.5% 10.0% Note: Historical results for SAIC are for the 12-months ended 11/1/2019 and historical and integration costs. results for Unisys Federal are for the 12-months ended 12/31/2019. (3) Credit Agreement EBITDA adjustments include Credit Agreement EBITDA definitional (1) The pro forma adjustments to the pro forma statement of income give effect to the add backs such as Non Cash Compensation ($34M), Engility Holdings Inc. Run Rate previously consummated acquisition of Engility Holdings Inc. as if it had been Cost Synergies ($40M), and Interest Income, A/R Facility Discounting and other consummated on November 3, 2018 and also reflect the sale of several non strategic adjustments ($15M). contracts (adjustment of $53M of revenue and $1M of EBITDA). Unisys Federal Pro (4) Pro forma adjustments relating to SAIC (pro forma for Engility Holdings Inc. and the Forma Adjustments reflects net change in corporate SG&A, net of corporation sale of several non-strategic contracts) total $30M. Adjustments relating to Unisys allocations, and Value Added Reseller Agreement. Federal total $23M, which reflects net change in corporate SG&A, net of corporation (2) Acquisition and integration costs are shown net of expected cost recoveries through allocations, and Value Added Reseller Agreement. the Company's indirect rates and exclude depreciation expense reported in acquisition © SAIC. All rights reserved. Exhibit 99.1 Pro Forma LTM Adjusted EBITDA Reconciliation (1) SAIC Unisys Federal Pro Forma Adjustments Pro Forma Combined ($ in M) Revenue $6,031 $726 $292 $7,049 Net Income $160 $49 ($80) 129 Interest Expense $84 -- 53 137 Interest Income ($4) -- -- (4) Income Taxes $50 17 (28) 39 Depreciation & Amortization $114 2 104 220 (2) Acquisition & Integration Costs $95 1 (1) 95 Reported Adjusted EBITDA $499 $69 $48 $616 (3) Credit Agreement EBITDA adjustments 84 -- 5 89 (4) Pro Forma Adjusted EBITDA $583 $69 $53 $705 Pro Forma Adjusted EBITDA Margin 9.7% 9.5% 10.0% Note: Historical results for SAIC are for the 12-months ended 11/1/2019 and historical and integration costs. results for Unisys Federal are for the 12-months ended 12/31/2019. (3) Credit Agreement EBITDA adjustments include Credit Agreement EBITDA definitional (1) The pro forma adjustments to the pro forma statement of income give effect to the add backs such as Non Cash Compensation ($34M), Engility Holdings Inc. Run Rate previously consummated acquisition of Engility Holdings Inc. as if it had been Cost Synergies ($40M), and Interest Income, A/R Facility Discounting and other consummated on November 3, 2018 and also reflect the sale of several non strategic adjustments ($15M). contracts (adjustment of $53M of revenue and $1M of EBITDA). Unisys Federal Pro (4) Pro forma adjustments relating to SAIC (pro forma for Engility Holdings Inc. and the Forma Adjustments reflects net change in corporate SG&A, net of corporation sale of several non-strategic contracts) total $30M. Adjustments relating to Unisys allocations, and Value Added Reseller Agreement. Federal total $23M, which reflects net change in corporate SG&A, net of corporation (2) Acquisition and integration costs are shown net of expected cost recoveries through allocations, and Value Added Reseller Agreement. the Company's indirect rates and exclude depreciation expense reported in acquisition © SAIC. All rights reserved.