Investor Presentaiton
Adjusted EBITDA - U.S. GAAP Reconciliation LTM March 2020
Three Months Ended
June 30, 2019
September 30, 2019
December 31, 2019
March 31, 2020
Twelve Months Ended
March 31, 2020
(in millions)
Net (loss) income as reported
$(11.5)
$(13.5)
$(14.5)
$(28.2)
$(67.7)
Undistributed equity losses (earnings), net
0.1
0.2
(0.7)
(0.3)
(0.7)
Income tax (benefit) provision
(5.8)
15.1
(5.7)
(3.7)
(0.2)
Interest expense
4.7
5.2
5.6
4.7
20.2
Mark to market loss on interest rate derivatives
2.3
2.3
Depreciation and amortization
6.3
6.1
6.3
6.2
24.9
Goodwill and other impairments
-
9.7
33.2
20.1
63.0
Stock compensation expense
SKU Rationalization
1.2
1.5
1.4
1.3
5.5
8.5
-
8.5
Acquisition and divestment related expenses
-
0.1
0.1
Restructuring expenses
0.2
0.3
0.3
0.8
Integration charges
0.7
0.2
0.2
1.1
Warehouse relocation
0.9
1.7
0.8
3.4
Adjusted EBITDA, before limitation
$4.4
$25.7
$27.9
$3.2
$61.2
Permitted non-recurring charge limitation
Adjusted EBITDA
$(9.0)
$52.2
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.
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