Investor Presentaiton
Reconciliation of Net Income (GAAP) to Adjusted EBITDA (Non-GAAP)
In millions, unaudited
Net income (loss) (GAAP)
Provision (benefit) for income taxes
Interest expense, net
Separation costs
Depreciation and amortization
Restructuring and other (income) charges, net
Acquisition costs
Adjusted EBITDA (Non-GAAP)
Net sales
Net income (loss) margin
Adjusted EBITDA margin
Years Ended
December 31,
2017
2016
$
145.0 $
44.4
29.8
42.6
15.8
17.9
0.9
17.5
40.4
38.8
3.7
41.2
7.1
$
242.7 $
202.4
$
972.4 $
908.3
14.9%
4.9%
25.0%
22.3%
Reconciliation of Provision for Income Taxes (GAAP) to Provision for Income Taxes on Adjusted Earnings (Non-GAAP)
Years Ended
December 31,
In millions (unaudited)
2017
2016 (1)
Adjusted EBITDA (Non-GAAP)
$
242.7 $
202.4
Tax effect on certain items
Depreciation and amortization
Interest expense, net
Adjusted income before taxes (Non-GAAP)
Provision (benefit) for income taxes (GAAP)
Tax benefit from U.S. Tax Reform
Provision for Income Taxes on Adjusted Earnings (Non-GAAP)
Adjusted Tax Rate (Non-GAAP)
40.4
38.8
15.8
17.9
$
186.5 $
145.7
$
29.8 $
42.6
(3.6)
(5.9)
(24.5)
$
57.9 $
48.5
31.0%
33.3%
83
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