General Finance Overview
Reconciliation of General Finance Net Income to Adjusted EBITDA
($000s)
Net Income (loss)
Provision (benefit) for income taxes
Fiscal Year Ending June 30
LTM
2012
2013
2014(1)
2015
2016
2017
2018
2019
2020
December 2020
$8,742
$11,413
$15,149
$13,045
($3,286)
($847)
($9,107)
($7,466)
$7,954
$4,901
5,360
8,195
11,620
8,697
(2,191)
(25)
(679)
5,820
6,695
4,138
Foreign exchange and other
(443)
(1,028)
1,372
273
309
351
5,887
3,513
(304)
131
Interest expense
Interest income
12,743
10,969
11,952
21,096
19,648
19,653
33,991
35,344
26,386
24,515
(157)
(58)
(52)
(68)
(97)
(66)
(112)
(191)
(663)
(599)
Depreciation and amortization
18,924
22,241
27,127
38,571
38,634
40,092
40,335
42,108
35,550
35,992
Impairment - goodwill/trade name
3,068
14,160
14,160
Share-based compensation expense
901
1,316
1,938
2,174
2,388
1,374
3,658
2,680
2,656
2,326
Expenses of postponed public equity offering
365
Inventory write-downs and related
1,630
Non-recurring severance costs and CEO
727
retirement compensation at Royal Wolf
Refinancing costs not capitalized
437
506
297
Change in valuation of bifurcated derivatives
in Convertible Note
Adjusted EBITDA
$46,070
$53,048
$69,106
$84,153
$60,830
$60,969
13,719
$87,692
24,570
$106,884
5,386
8,379
$97,820
$94,240
1) FY 2014 includes approximately $7.0M of adjusted EBITDA from Lone Star Tank Rental Inc., which was acquired on April 7, 2014
United Rentals®
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