Steelcase Financial Performance and Brand Promise
Non-GAAP Financial Measures
This presentation contains certain non-GAAP financial measures. A "non-
GAAP financial measure" is defined as a numerical measure of a company's
financial performance that excludes or includes amounts so as to be different
than the most directly comparable measure calculated and presented in
accordance with GAAP in the condensed consolidated statements of
operations, balance sheets or statements of cash flows of the company. The
non-GAAP financial measures used within this presentation are: (1) adjusted
operating income (loss) margin, which represents operating income (loss),
excluding amortization of purchased intangible assets and restructuring costs,
each as a percentage of revenue, (2) adjusted EBITDA, which represents
earnings before interest, taxes, depreciation and amortization (“EBITDA”),
adjusted to exclude share-based compensation, restructuring costs and
goodwill and intangible asset impairment charges, (3) net debt, which
represents total debt less cash and cash equivalents and COLI and (4) net
debt to adjusted EBITDA ratio, which represents net debt divided by adjusted
EBITDA. Pursuant to the requirements of Regulation G, the company has
provided a reconciliation of each of the non-GAAP financial measures to the
most directly comparable GAAP financial measure. These measures are
supplemental to, and should be used in conjunction with, the most comparable
GAAP measures. Management uses these non-GAAP financial measures to
monitor and evaluate financial results and trends.View entire presentation