Investor Presentaiton
RECONCILIATION OF NON-GAAP MEASURES
HARSCO CORPORATION
RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited)
(In thousands)
Three Months Ended June 30, 2020:
Operating income (loss) as reported
Corporate acquisition and integration costs
Operating income (loss) excluding unusual items
Depreciation
Amortization
Adjusted EBITDA
Revenues as reported
Adjusted EBITDA margin (%)
Harsco
Environmental
Harsco Clean
Earth (a)
Harsco Rail
Corporate
Consolidated
Totals
42
$
13,563
$
(202)
$
8,631
$
13,563
(202)
8,631
(20,124)
17,176
(2,948)
$
1,868
17,176
19,044
24,663
5,138
1,257
521
31,579
1,921
6,347
83
8,351
$
40,147
$
11,283
$
9,971
$
(2,427)
$
58,974
$
203,991
19.7 %
$
161,579
$
81,711
$
447,281
7.0%
12.2 %
13.2 %
(a) The Company's acquisition of ESOL closed on April 6, 2020 and the Company's acquisition of Clean Earth closed on June 28, 2019.
Consolidated Adjusted EBITDA is a non-GAAP financial measure and consists of income from continuing operations adjusted to add back income tax expense; equity income of unconsolidated
entities, net; net interest; defined benefit pension income (expense); unused debt commitment and amendment fees; and depreciation and amortization (excluding amortization of deferred
financing costs); and excludes unusual items. Segment Adjusted EBITDA consists of operating income from continuing operations adjusted to exclude unusual items and add back depreciation and
amortization (excluding amortization of deferred financing costs). The sum of the Segments' Adjusted EBITDA equals consolidated Adjusted EBITDA. The Company's management believes Adjusted
EBITDA is meaningful to investors because management reviews Adjusted EBITDA in assessing and evaluating performance. However, this measure should be considered in addition to, rather than
as a substitute for, net income from continuing operations, operating income from continuing operations and other information provided in accordance with GAAP. The Company's method of
calculating Adjusted EBITDA may differ from methods used by other companies and, as a result, Adjusted EBITDA may not be comparable to other similarly titled measures disclosed by other
companies.
© 2020 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
HARSCOView entire presentation