United Rentals M&A and 4Q Results Presentation
Historical EBITDA and Adjusted EBITDA GAAP
Reconciliations ($M) (cont'd)
Net cash provided by operating activities (9)
Adjustments for items included in net cash provided by operating activities but
excluded from the calculation of EBITDA:
Loss from discontinued operation, net of taxes
Amortization of deferred financing costs and original issue discounts
Gain on sales of rental equipment
(Loss) gain on sales of non-rental equipment
Insurance proceeds on damaged equipment (10)
Gain (loss) on sale of software subsidiary (7)
2009
2010
2011
2012 2013
2014
2015
2016 2017
2018
2019
2020
$ 438 $ 452 $
612 $ 721 $ 1,551 $ 1,801 $1,987
$ 1,941 $ 2,209 $ 2,853 $ 3,024
$ 2,658
8
(1)
Merger related costs (2)
(19) (111)
(9)
(11
Restructuring charge (3)
Stock compensation expense, net (8)
(31)
(34)
(19) (99)
(12)
1
(8)
(8)
(12)
(32)
(46)
(74
~E~ € | |
2
4
(17)
7
41
(23)
|སྐྱེ⌘ས། |།ྱགྱེསྱེ
(22) (23)
(21)
(17
125
176
229
༄སྶ
(10
(9
(9 (12)
(15)
(14)
227
204
220 278
313
332
2
6
11
∞ ∞ |
8
4
4
6
6
8
8
12
21
22
24
40
26
(50
(6
(14
(49
(45
ཁྲེgཆྱེ།
1334
(36)
(1)
(50 (31)
(18)
(17)
(87 (102)
(61)
(70)
Gain (loss) on extinguishment of debt securities, and amendments of debt
facilities
7
(28)
(3)
(72)
(1)
Loss on retirement of subordinated convertible debentures (1)
Excess tax benefits from share-based payment arrangements (11)
Changes in assets and liabilities
Cash paid for interest, including subordinated convertible debentures (1)
13
(2)
(2)
Cash paid (received) for income taxes, net
EBITDA
ཥྞ ཀླིè། | ཙེ
(123
(101
(54
(61)
(183)
|
5
58
(58)
65
49
571
31
194
101
129 124
170
241
234
229
203
371
461
457
447
415
357 455
581
483
3
(49)
24
40
48
100
60
99
589
649
879
1,501
2,181
2,599 2,774
2,665
205
2,895 3,628
71
238
318
4,200
3,796
Add back:
Merger related costs (2)
Restructuring charge (3)
Stock compensation expense, net (8)
31
| | |
34
8
| ∞ | |
19
111
9
11
(26)
50
36
1
19
99
12
(1)
6
14
50
31
18
17
12
32
46
74
49
45
87
102
61
70
37
44
35
29
35
82
66
75
49
(8)
1
$
628 $ 691 $
929 $ 1,772 $ 2,293 $ 2,718 $
2,832 $
2,759 $ 3,164 $ 3,863 $ 4,355
$ 3,932
Impact of the fair value mark-up of acquired fleet (6)
(Gain) loss on sale of software subsidiary (7)
Adjusted EBITDA
United Rentals
8
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2021 United Rentals, Inc. All rights reserved.
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