Investor Presentaiton
Reconciliation of Net Income to Adjusted EBITDA
(in thousands)
Revenue
Net income
Interest expense, net of interest income
Provision for income taxes
Depreciation and amortization
Non-operating income
Acquisition, integration and restructuring expense
Expansion and pre-opening expenses
Newport Grand disposal loss
Share-based compensation
Professional and advisory fees associated with capital return program
Credit Agreement amendment expenses
Gain on insurance recoveries
Pension withdrawal
Other
Adjusted EBITDA
Net income margin
Adjusted EBITDA margin
Quarter Ended March 31,
2020
2019
$
109,148
$
120,631
(8,878)
11,373
$
(5,664)
8,979
17,596
7,038
5,673
6,769
1,786
6,878
5,542
151
(16)
239
335
(883)
875
$
13,353
$
(557)
43,883
(8.13)%
12.23 %
14.59 %
36.38 %
(1)
See descriptions of adjustments in the "Reconciliation of Net Income and Net Income Margin to Adjusted EBITDA and Adjusted EBITDA Margin" table in the Q1 2020
Earnings Release.
TRWH
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