Investor Presentation June 2023
NON-GAAP Reconciliations: Free Cash Flow
FREE CASH-FLOW (FCF)
(in thousands)
Net Cash Provided by Operating Activities
Exclude: Changes in Working Capital and Other Items
Less: Capital Expenditures
(1)
Less: Series A Preferred Dividends
Free Cash Flow
Q1 22
$
154,034 $
Q2 22
Q3 22
Q4 22
210,239 $
276,766 $
287,379 $
Q1 23
269,308
80,985
(86,020)
41,948
(135,055)
(7,505)
(156,095)
(53,029)
(145,890)
26,864
(212,235)
(3,016)
$
145,983 $
(2,810)
114,322 $
(2,610)
110,556 $
(1,367)
87,094 $
83,937
(1)
Capital Expenditures are calculated as follows:
Cash Paid for Capital Expenditures
$
417,482 $
106,740 $
Less: Non-Budgeted Acquisitions
(344,264)
Plus: Change in Accrued Capital Expenditures and Other
12,802
Capital Expenditures
$
86,020 $
3,288
25,027
135,055 $
301,240 $
(151,303)
6,158
156,095 $
529,735 $
(388,656)
4,811
145,890 $
460,982
(271,606)
22,859
212,235
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