Owens&Minor Investor Day Presentation Deck
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Definitions of Non-GAAP Reconciliation Items, continued
(⁹) Goodwill and intangible asset impairment charges were incurred as a result of a decline in our market capitalization and lower projected financial results of
certain reporting units due to customer losses and operational inefficiencies.
(10) Fair value adjustments related to purchase accounting includes an incremental charge to cost of goods sold from purchase accounting impacts related to
the sale of acquired inventory that was written up to fair value in connection with the Halyard acquisition.
(11) Other includes interest costs and net actuarial losses related to our retirement plans and for the year ended December 31, 2020 a gain from the surrender of
company-owned life insurance policies of $(3.5) million.
(12) Apria adjusted EBITDA is presented in order to calculate pro forma adjusted EBITDA and pro forma leverage ratio of net debt to adjusted EBITDA for fiscal
year ended December 31, 2022, as if Apria was acquired on January 1, 2022. The pro forma results are not necessarily indicative of the results that would have
been if the acquisition had occurred on January 1, 2022. We have not separately presented the components of Apria adjusted EBITDA, as we determined that
such presentation would not be meaningful.
(13) Income tax benefit on pre-tax adjustments These charges have been tax effected by determining the income tax rate depending on the amount of charges
incurred in different tax jurisdictions and the deductibility of those charges for income tax purposes.
(14) Tax adjustment in 2022 includes a change in our foreign repatriation plans related to the permanent reinvestment of earnings associated with a subsidiary in
Thailand. Amount 2021 include a tax adjustment associated with a valuation allowance on the capital loss related to the divestiture of our Movianto business,
partially offset by the estimated benefits under the Tax Cuts and Jobs Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Amount in 2020
includes a tax adjustment associated with the estimated (benefits) expense under the Tax Cuts and Jobs Act and the CARES Act.
(15) Net capital expenditures (Net Capex) includes the additions to property and equipment and computer software net of proceeds from sale of property and
equipment as disclosed in the investing activities section of the Consolidated Statements of Cash Flows.
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