Investor Presentaiton
Reconciliation of Adjusted EBITDAX to Net Income (Loss)
Adjusted EBITDAX Reconciliation ($ thousands) 1
($ in thousands, unless specified)
Net income (loss) attributable to Class A Common Stock
FY 2021
Q1
FY 2022
Q2
Q3
$138,175
$15,802
$191,826
$224,359
Net income (loss) attributable to noncontrolling interest
119,145
Interest expense
Income tax expense (benefit)
61,288
13,154
14,326
28,807
569
6,776
41,487
31,169
Depreciation, depletion and amortization
289,122
71,009
82,117
109,500
Impairment and abandonment expense
32,511
2,627
506
498
(Gain) loss on extinguishment of debt
22,156
Non-cash derivative (gain) loss
16,700
86,645
(39,514)
(213,503)
Stock-based compensation expense²
56,320
18,834
(2,487)
18,896
Exploration and other expenses
7,883
2,307
1,954
2,352
Merger and integration expense
5,685
59,270
(Gain) loss on sale of long-lived assets
(34,168)
(82)
1,406
3
Proceeds from terminated sale of assets
Adjusted EBITDAX
(5,983)
$584,573
$217,072
$297,306
$380,496
Note: Q3'22 results represent legacy Centennial for the months of July and August and include amounts related to legacy Centennial and legacy Colgate for the month of September
(1) Adjusted EBITDAX is a non-GAAP financial measure
(2) Includes stock-based compensation for equity awards and also for cash-based liability awards that have not yet been settled in cash, both of which relate to general and administrative employees only. Stock-based compensation amounts for geographical
and geophysical personnel are included within the Exploration and other expenses line item
PR
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