Financial Results and Outlook
Appendix
EBITDA
We consider operating income plus equity in pretax earnings of unconsolidated affiliates before interest expense, amortization, depreciation and
taxes to be our EBITDA
Fiscal Year Ended
Six Months Ended
September 30,
In millions
2019
2020
2021
2022
2023
2022
2023
Net income(loss)¹
$104
$72
$87
$87
$124
$29
$26
Subtract:
(Net income) loss attributable to noncontrolling
interests in subsidiaries
(6)
(6)
(9)
Add:
Income taxes
41
35
Subtract:
Interest income
2
2
Add:
Interest expense
18
20
222
(17)
(6)
(6)
29
39
12
10
7
1
6
2
25
28
49
19
33
Equity in pretax earnings (losses) of
Subtract:
5
4
3
6
2
(5)
unconsolidated affiliates
Subtract:
Other non-operating income (expense)
1
1
3
2
1
Operating income (loss)
$161
$126
$148
$160
$181
$51
$66
Add:
Depreciation and amortization
37
38
45
53
57
28
29
Add:
Equity in pretax earnings (losses) of
unconsolidated affiliates
5
4
3
6
2
(5)
EBITDA
$204
$169
$195
$219
$241
$79
$90
1. Attributable to Universal Corporation. Universal holds less than 100% financial interest in certain consolidated subsidiaries, and a portion of net income is attributable to the non-controlling interests
in those subsidiaries.
Note: Numbers may not sum to totals due to rounding
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