Better Food. Better Future.
Adjusted EBITDA By Quarter
(1)
Adjusted EBITDA Reconciliation
(in millions)
Net income (loss) from continuing operations
Adjustments to continuing operations net income (loss):
Less net income attributable to noncontrolling interests
Net periodic benefit income, excluding service cost
Interest expense, net
Other, met
Provision (benefit) for income taxes
Depreciation and amortization
Share-based compensation
Restructuring, acquisition and integration related expenses
Goodwill impairment charges
(Gain) loss on sale of assets
Multiemployer pension plan withdrawal charges (benefit)
Notes receivable charges
Legal reserve charge, net of settlement income
Other retail expense
Adjusted EBITDA of continuing operations
03
F2020
04
F2020
F2020
01
F2021
Q2
F2021
03
F2021
04
F2021
01
02
F2021 F2022
F2022
$ 95 $ 55
$ (251) $
S 58 S 50 $ 41
$ 149
$ 77 S
0900221-1111818
(2)
(2)
(5)
(1)
(12)
(12)
(39)
(17)
47
46
192
(4)
(2)
(9)
(91)
70
68
282
13
12
34
15
20
87
425
17
18
13
1
I
1
1
1
1
5
196
663
158
204
179
201
742
189
201
Adjusted EBITDA of discontinued operations
10
1
2
1
4
Adjusted EBITDA
$
$
198 S
673 S
159 S
206 S
180 S
201
S
746 S
189 S
201
Income (loss) from discontinued operations, net of tax
$
(65) $
S
(18) S
=
S
3 S
_
$
3 S
6 S
$
Adjustments to discontinued operations net income (loss):
Provision (benefit) for income taxes
(5)
1
(2)
1
(1)
(1)
Restructuring, store closure and other charges, net
5
+
33
1
(2)
(1)
Adjusted EBITDA of discontinued operations
$
S
10 S
1
$
2
S
1 $
S
4
S
55%
69
(1)
(1)
77
14
16
0205622||||
(2)
(17)
51
44
(2)
17
67
13
18
0128=2 | |
(2)
(1)
(6)
(1)
(17)
(34)
(85)
(10) (10)
40
204
40
(4)
(8)
1
16
2
34
(1)
66
75
285
69
11
11
49
11
12
56
3
-
(+)
(+)
63
63
01821-1
(1) See slide 12 for the definition of adjusted EBITDA.
18
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