EBIT from Revenue

EBIT from the top equals Revenue minus COGS minus operating expenses. Operating expenses include SG&A, R&D, depreciation on operating PP&E, amortization of acquired intangibles, and restructuring charges. The result is GAAP EBIT, not EBITDA^[AQFS].

The subtraction chain

Revenue
- Cost of revenue (COGS)
= Gross Profit
- Selling, general & administrative
- Research & development
- Depreciation on operating PP&E (often inside COGS or SG&A)
- Amortization of acquired intangibles
- Restructuring and impairment charges
= Operating Income
+ Net non-operating items (often ~0)
= EBIT

What counts as operating vs non-operating

Operating: anything tied to the revenue-generating activity. R&D for a hardware OEM is operating; R&D for a passive-holding REIT is not.
Non-operating: interest income on cash, FX remeasurement, equity-method earnings from associates, gains on sale of unrelated assets.

Depreciation buried in COGS

Many manufacturing 10-Ks report COGS inclusive of depreciation. The line is broken out in the segment notes or in the cash flow statement reconciliation. If you are computing EBITDA from EBIT and you double-count D&A (taking it from both COGS and the cash flow statement), you will overstate EBITDA. Use the cash flow statement D&A as the bridge, and check the income-statement footnote for the breakout^{[FASB ASC]}.

See manufacturing caveat page for the worked example.