Attached files
| file | filename |
|---|---|
| 8-K - 8-K - LEGG MASON, INC. | form8kjanuary222016.htm |
Exhibit 99.1 | |||||||||||
($ millions) | |||||||||||
Twelve Months Ended | |||||||||||
Dec 15 | Mar 15 | Mar 14 | Mar 13 | Mar 12 | |||||||
Cash provided by operating activities 1 | $493 | $568 | $437 | $303 | $497 | ||||||
Allocation of debt redemption payments | — | 98 | — | 216 | — | ||||||
Interest expense, net of certain non-cash items | 46 | 54 | 50 | 48 | 41 | ||||||
Current tax expense | 21 | 25 | 19 | 6 | 23 | ||||||
Gain on investments | 13 | 51 | 27 | 38 | 20 | ||||||
Net change of other assets and liabilities | 84 | (111 | ) | 84 | (56 | ) | 4 | ||||
EBITDA, Bank Defined | $657 | $685 | $617 | $555 | $585 | ||||||
1 See annual report on Form 10-K for the respective years then ended and the quarterly report on Form 10-Q for the respective quarters. | |||||||||||
EBITDA, Bank Defined, a liquidity measure, is the measure of EBITDA that is used in the financial covenants of our bank credit agreement. | |||||||||||