Investor Presentaiton
Reconciliation: EBITDA and Adjusted EBITDA
Net income (loss)
Less: income (loss) from discontinued operations, net of income taxes
Income (loss) from continuing operations
Add:
Interest expense
Provision (benefit) for income taxes
Depreciation and amortization expense
EBITDA
Add:
Impairment of long-lived assets
Restructuring activities, net
Adjusted EBITDA
LTM Q3-20
(in millions)
LA
(78.1)
(1.0)
$ (77.1)
222.9
(205.8)
272.6
$
212.6
369.4
25.2
$
607.2
EBITDA is defined as income (loss) from continuing operations plus interest expense, income taxes, and depreciation and amortization expense. Adjusted EBITDA is
defined as EBITDA plus non-cash impairment of long-lived assets and restructuring activities. EBITDA and Adjusted EBITDA are non-GAAP financial measures; however,
the amounts included in these calculations are derived from amounts included in our GAAP financial statements. EBITDA and Adjusted EBITDA are reconciled to net
income (loss), the most directly comparable GAAP financial measure, in the table above. This information is provided to assist management and investors in making
meaningful comparisons of our operating performance between periods. We believe EBITDA is a useful measure for analyzing the performance of our business. We also
believe that EBITDA is commonly reported and widely used by investors and other interested parties as a measure of a company's operating performance and debt
servicing ability because it assists in comparing performance on a consistent basis without regard to capital structure, depreciation or amortization (which can vary
significantly depending on many factors). EBITDA and Adjusted EBITDA should not be considered as alternatives to net income as indicators of our operating
performance, or as alternatives to operating cash flows as measures of liquidity. Non-GAAP measures should not be considered in isolation or as a substitute for our
reporting results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures for other companies.
TRINITY INDUSTRIES
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