Investor Presentaiton
Adjusted EBITDA — U.S. GAAP Reconciliation LTM September 2019
-
Three Months Ended
December 31, 2018
March 31, 2019
June 30, 2019
(in millions)
September 30, 2019
Twelve Months Ended
September 30, 2019
Net income (loss) as reported
Undistributed equity (earnings) losses, net
$10.0
$(4.9)
$(11.5)
$(13.5)
$(19.9)
(0.1)
0.1
0.1
0.2
0.3
Income tax provision (benefit)
Interest expense
Depreciation and amortization
7.6
(2.5)
(5.8)
15.1
14.4
5.6
4.9
4.7
5.2
20.4
6.5
6.4
6.3
6.1
25.3
Impairment of goodwill
Stock compensation expense
Contingent consideration fair value adjustment
―
-
9.7
9.7
1.1
0.9
1.2
1.5
4.7
(1.8)
(1.8)
Unrealized gain on foreign currency contracts
SKU Rationalization
| │
8.5
8.5
Acquisition and divestment related expenses
0.5
0.2
―
0.7
Restructuring expenses
1.0
0.6
0.2
0.3
2.1
Integration charges
0.4
0.2
0.7
0.2
1.5
Warehouse relocation
0.1
0.2
0.9
1.2
Projected synergies
2.5
Adjusted EBITDA, before limitation
$30.9
$6.1
$4.4
$25.7
$69.6
Permitted non-recurring charge limitation
Adjusted EBITDA
$(8.5)
$61.1
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
48View entire presentation