One other factor included in EBITDA is a $15 million negative effect from Hurricane Sandy. So, an apples to apples comparison of Guidance to actual would be as follows:
Low end EBITDA implied guidance-- $407 million
Minus net one timers -- $27 million
Plus Sandy adj.-- $15 million
Comparable EBITDA achieved-- $395 million
That miss, assuming one timers were not in the guidance, will hurt. More important, '13 guidance was distinctly muted (low single digit EBITDA growth in '13) which will cause disappointment. Plus ca change, plus c'est la meme chose (that's French for history suggests this shouldn't be a surprise).