Outdoor Living Market Trends and Growth Initiatives
Appendix
Reconciliation of Net Income to Adjusted EBITDA
FYE 12/31/21 FYE 12/31/20 FYE 12/31/19 FYE 12/31/18 FYE 12/31/17 FYE 12/31/16
Net income
($ in thousands)
$650,624
$366,738
$261,575 $234,461
$191,339
$148,603
Add:
Interest expense (1)
8,314
10,605
22,425
20,336
15,360
13,802
Provision for income taxes
173,812
85,231
56,161
58,774
77,982
92,931
Share-based compensation
15,187
14,516
13,472
12,874
12,482
9,902
Goodwill impairment
(2,500)
6,944
613
Equity (earnings) losses in unconsolidated investments, net
(291)
(295)
(262)
(242)
(139)
(156)
of tax
Depreciation
28,287
27,967
27,885
26,122
24,157
20,338
Amortization (2)
Adjusted EBITDA
1,325
$874,758
1,032
$512,738
956
1,102
976
$382,212
$353,427
$322,157
1,012
$287,045
(1) Shown net of interest income, impact of foreign currency transactions and includes amortization of deferred financing costs
(2) Excludes amortization of deferred financing costs
Return on Invested Capital
2021
2020
2019
2018
2017
2016
Numerator (trailing four quarters total):
Net Income attributable to Pool Corporation
$650,624
Interest and other non-operating expenses, net
8,639
Less: taxes on Interest and other non-operating expenses, net at 21.1%,
18.9% for 2020, 17.7% for 2019, 20.1% for 2018, 33.4% for 2017
(1,823)
$366,738
12,353
(2,335)
$657,440
$376,756
$261,575
23,772
(4,205)
$281,142
$234,461
20,896
(4,200)
$179,633
15,189
(5,073)
$148,955
14,481
(5,575)
$251,157
$189,749
$157,861
Denominator (average of trailing four quarters):
Long-term debt, net
$589,368
Short-term borrowings and current portion of long-term debt
11,246
Total stockholders' equity
897,320
$1,497,934
$432,829
12,372
516,040
$961,242
$595,247
17,323
346,049
$958,619
$602,984
15,190
289,979
$908,153
$520,950
11,030
236,901
$768,881
$441,026
3,806
237,380
$682,212
Return on invested capital
43.9%
39.2%
29.3%
27.7%
24.7%
23.1%View entire presentation