Am I doing this ANI calculation right?

Am i doing this ANI calc right for a divestiture?

You use the sale proceeds to pay off debt hence that interest savings line

Y1  Y2  Y3

Company X ANI $500 $600 $700 Outstanding Shares 155 155 155 ANI / Share $3.22 $3.87 $4.51

Divested EBITDA $50 $60 $70 Divested Depreciation (10) (10) (10) Divested Taxes (5) (5) (5) Interest Savings (5) (5) (5) Incremental ANI $30 $40 $50

Pro Forma ANI $470 $560 $650 PF ANI / Share $3.03 $3.61 $4.19

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