Investor Presentaiton
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Adjusted EBITDA — U.S. GAAP Reconciliation LTM September 2020
Three Months Ended
December 31, 2019
March 31, 2020
June 30, 2020
September 30, 2020
Twelve Months Ended
September 30, 2020
(in millions)
Net (loss) income as reported
$(14.5)
$(28.2)
$(4.0)
$13.9
$(32.7)
Undistributed equity losses (earnings), net
(0.7)
(0.3)
0.8
(0.1)
(0.4)
Income tax (benefit) provision
(5.7)
(3.7)
3.0
3.7
(2.7)
Interest expense
5.6
4.7
4.2
4.1
18.7
Mark to market loss (gain) on interest rate
2.3
0.2
(0.1)
2.3
derivatives
Depreciation and amortization
6.3
6.2
6.1
6.1
24.7
Goodwill and other impairments
33.2
20.1
-
―
53.3
Stock compensation expense
1.4
1.3
1.4
1.6
5.8
Acquisition and divestment related expenses
0.1
0.1
0.1
0.2
Restructuring expenses
0.3
0.3
0.6
Integration charges
0.2
0.2
Warehouse relocation
1.7
0.8
0.3
2.8
Adjusted EBITDA
$27.9
$3.2
$12.4
$29.3
$72.8
LifetimeBrands
Adjusted EBITDA is a non-GAAP financial measure which is defined in the Company's debt agreements. Adjusted EBITDA is defined as net income (loss), adjusted to exclude undistributed equity in (earnings)
losses, income tax provision (benefit), interest, depreciation and amortization, stock compensation expense, and SKU rationalization expenses.
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