Investor Presentaiton
Historical EBITDA and Adjusted EBITDA GAAP
Reconciliations ($M) (cont'd)
2009 2010
2011
2012 2013
2014
2015 2016
2017 2018
2019
Net cash provided by operating activities (9)
Adjustments for items included in net cash provided by operating activities but
excluded from the calculation of EBITDA:
Loss from discontinued operation, net of taxes
Amortization of deferred financing costs and original issue discounts
Gain on sales of rental equipment
(Loss) gain on sales of non-rental equipment
Gain on insurance proceeds on damaged equipment (10)
Gain (loss) on sale of software subsidiary (7)
Merger related costs (2)
Restructuring charge (3)
Stock compensation expense, net (8)
Gain (loss) on extinguishment of debt securities, and amendments of debt
facilities
Loss on retirement of subordinated convertible debentures (1)
Excess tax benefits from share-based payment arrangements (11)
Changes in assets and liabilities
Cash paid for interest, including subordinated convertible debentures (1)
Cash paid (received) for income taxes, net
EBITDA
$ 438 $ 452 $ 612 $ 721 $1,551 $ 1,801 $1,987 $ 1,941 $ 2,209 $ 2,853 $ 3,024
4
(17)
(22) (23) (21) (17) (10)
(9 (12)
(15)
66
125
176
229
227
204
220
278
313
2
2
6
11
8
4
6
6
8
12
21
22
24
®ཕྱེ། ། |རྒྱབྱེ॰
N |
| €
1.
GINA
སྗེསྨྱུ☁8 |སྐྱེ
I
(1)
26
(50)
(36)
(6) (14) (50) (31) (18)
8
(19)
(111)
(9)
(31)
(34)
(19)
(99)
(12)
1
(8)
(8)
(12)
(32)
(46)
(74) (49) (45) (87) (102)
(61
(3)
(72)
(1)
(80) (123) (101)
(54)
(61)
(2)
(2)
7
13
(58)
234
3
589
སྐྱེ¥ ། | | |སྐྱེ༅ 8། |88ཊྛི
5ཕྲུགྲྭ། |བྱེ
༄༅།⌘༄༄ ༄། ཁཆྱེ༅
|
<རྨ།ཆེ $ | |8aཤྩ
5
58
49
571
31
182
194
101
129
124
170
203
371
461
457
447
415
357
455
581
24
40
48
100
60
99
205
71
238
879
1,501 2,181
2,599
2,774 2,665 2,895 3,628 4,200
Add back:
Merger related costs (2)
Restructuring charge (3)
Stock compensation expense, net (8)
Impact of the fair value mark-up of acquired fleet (6)
(Gain) loss on sale of software subsidiary (7)
Adjusted EBITDA
| $ ྋ
8
| ∞ |
31
19
111
9
34
19
99
12
==
11 (26)
(1)
6
14
550
36
1
31
18
8
12
IN
32
46
74
49
45
87
102
61
37
44
35
29
35
82
66
75
$ 628 $ 691 $
| 「ཱ
-
(8)
1
-
-
-
929 $1,772 $2,293 $2,718 $2,832 $2,759 $3,164 $ 3,863 $ 4,355
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2020 United Rentals, Inc. All rights reserved.
49
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