ICF Investor Presentation Q4 2023
Appendix 2
30
(in thousands, except per share amounts)
Reconciliation of EBITDA
Net income
Interest, net
Provision for income taxes
Depreciation and amortization
EBITDA
Reconciliation of Non-GAAP Diluted EPS
U.S. GAAP Diluted EPS
Impairment of long-lived assets
2023
2022
2021
2020
2019
2018
$ 64,243
$ 71,132
$ 54,959
$ 68,938
$ 61,400
82,612
39,681
23,281
9,984
13,712
10,561
8,594
13,935
19,737
28,958
19,714
21,235
21,427
60,738
49,917
31,970
33,748
28,182
27,206
$ 157,178
$ 142,044
$ 122,133
$ 128,916
$ 118,627
$196,966
2023
2022
2021
2020
2019
2018
4.35
3.38
3.72
2.87
3.59
3.18
0.40
0.44
0.43
0.16
0.09
Acquisition-related expenditures
0.25
0.34
0.25
0.10
0.10
0.07
Severance and other costs related to staff realignment
0.33
0.33
0.06
0.25
0.09
0.08
Facilities consolidations, office closures, and our future corporate headquarters
(1)
0.24
0.26
0.08
0.10
0.08
0.01
Special charges related to bad debt reserve
Expenses related to the transfer to our new corporate headquarters
(2)
Expenses related to retirement of Executive Chair
| | | |
-
(0.04)
0.06
0.44
0.05
0.02
0.46
0.01
Expenses related to our agreement for the sale of receivables
Pre-tax gain from divestiture of a business
Amortization of intangibles
Income tax effects of the adjustments
Non-GAAP Diluted EPS
(1) These charges were related to the January 2019 bankruptcy filing of a utility client.
(0.30)
1.87
1.49
0.65
(0.64)
(0.92)
(0.44)
0.70
(0.47)
0.42
(0.18)
0.52
(0.19)
$6.50
$ 5.77
$
4.82
$ 4.17
$ 4.15
$
3.73
(2) These costs include severance, pro rata incentive bonus, welfare benefits, and acceleration of equity awards we incurred under the departing officer's severance agreement during the fourth quarter of 2020. As a result of the employment agreement, the departing
officer was able to maintain certain equity awards beyond his retirement date, including performance-based awards that are subject to changes until they vest.
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