Levi Strauss Investor Day Presentation Deck
ADJUSTED EBIT AND
ADJUSTED EBITDA
We define Adjusted EBIT as net income (loss) excluding
income tax expense (benefit), interest expense, other
(income) expense, net, underwriter commission paid on
behalf of selling stockholders, loss on early extinguishment
of debt, impact of changes in fair value on cash-settled
stock-based compensation, COVID-19 related inventory
costs and other charges, acquisition and integration
related charges, and restructuring and related charges,
severance and other, net. We define Adjusted EBIT
margin as Adjusted EBIT as a percentage of net revenues.
We define Adjusted EBITDA as Adjusted EBIT excluding
depreciation and amortization expense.
LEVI STRAUSS & CO.
(Dollars in millions)
MOST COMPARABLE GAAP MEASURE
Net income (loss)
NON-GAAP MEASURE
Net income (loss)
Income tax expense (benefit)
Interest expense
Other (income) expense, net(¹)
Underwriter commission paid on behalf of selling
stockholders
Loss on early extinguishment of debt
Impact of changes in fair value on cash-settled
stock-based compensation (²)
COVID-19 related inventory costs and other
charges (³)
Acquisition and integration related charges (4)
Restructuring and restructuring related charges,
severance and other, net(5)
ADJUSTED EBIT
Depreciation and amortization (6)
ADJUSTED EBITDA
Adjusted EBIT margin
2021
$553.5
553.5
26.7
72.9
(3.4)
36.5
4.2
(9.7)
7.7
24.5
712.9
142.0
854.9
12.4%
2020
$(127.1)
(127.1)
(62.6)
82.2
22.4
7.1
159.6
99.5
181.1
136.6
317.7
4.1%
2019
$395.0
395.0
82.6
66.2
(2.0)
24.9
34.1
9.8
610.6
123.9
734.5
10.6%
2011
$135.1
135.1
67.7
132.0
1.3
0.3
| |
67.1
403.5
117.8
521.3
8.5%
©2022 Levi Strauss & Co. CONFIDENTIAL
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