Investor Presentaiton
Non-GAAP Measures Reconciliation
(1)
Net Debt(1)
Long-term debt, net
Plus: Deferred financing costs
Less: Unamortized premiums and discounts, net
Total long-term debt
Less: Cash and cash equivalents
Net debt (non-GAAP)
December 31, 2023
September 30, 2023
June 30, 2023
(In thousands)
March 31, 2023
KINETIK
$
3,562,809 $
3,606,962 $
31,510
23,038
3,625,799 $
24,201
3,511,648
25,352
319
3,594,000
3,630,000
3,650,000
3,537,000
$
4,510
3,589,490 $
68
2,237
1,984
3,629,932 $
3,647,763 $
3,535,016
Net Debt is defined as total long-term debt, excluding deferred financing costs, premiums and discounts, less cash and cash equivalents. Net Debt illustrates our total debt position less cash on hand that could be utilized to pay down debt at the balance sheet
date. Net Debt should not be considered as an alternative to the GAAP measure of total long-term debt, or any other measure of financial performance presented in accordance with GAAP.
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