Rayonier - Best-in-Class, Pure-Play Timber REIT
Reconciliation of Net Debt to LTM Adjusted EBITDA
Q2
2017
($ in millions)
Current maturities of long-term debt
Long-term debt, net of deferred financing costs
Deferred financing costs
Total Debt
Cash and cash equivalents
Net Debt
$31.5
1,033.6
3.3
$1,068.4
(136.6)
$931.8
Q3
Q4
Q1
Q2
($ in millions)
2016
2016
2017
2017
Total
Net income
$40.6
$50.5
$35.1
$30.8
$157.0
Interest, net
8.3
8.2
7.9
8.2
32.6
Income tax expense
0.8
2.8
6.3
7.5
17.4
Depreciation, depletion and amortization
32.0
31.5
30.8
37.1
131.4
Non-cash cost of land and improved development
4.3
1.6
4.5
2.8
13.2
Costs related to shareholder litigation'
(1)
1.2
0.7
1.9
Large Dispositions
(1)
Adjusted EBITDA
(1)
Net Debt/ Adjusted EBITDA
(1)
(42.6)
(28.2)
(70.8)
$87.2
$52.0
$57.1
$86.4
$282.7
3.3x
(1) Non-GAAP measure or pro forma item (see Appendix for definitions and reconciliations).
Rayonier
50
Investor Relations | August 2017View entire presentation