Matson Results Presentation Deck
19
Appendix -Non-GAAP Measures
Matson reports financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The Company also considers other
non-GAAP measures to evaluate performance, make day-to-day operating decisions, help investors understand our ability to incur and service
debt and to make capital expenditures, and to understand period-over-period operating results separate and apart from items that may, or could,
have a disproportional positive or negative impact on results in any particular period. These non-GAAP measures include, but are not limited to,
Earnings Before Interest, Income Taxes, Depreciation and Amortization ("EBITDA").
EBITDA RECONCILIATION
(In millions)
Net Income
Add: Income taxes
Add:
Add: Depreciation and amortization
Add: Dry-dock amortization
EBITDA (1)
Interest expense
(In millions)
Net Income
Add: Income taxes
Add: Interest expense
Add:
Add: Dry-dock amortization
EBITDA (1)
Depreciation and amortization
Second Quarter 2022 Earnings Conference Call
2022
380.7 $
109.7
4.5
34.9
6.2
$ 536.0
S
$
Three Months Ended
June 30,
2021
162.5
47.4
5.5
32.9
6.0
254.3
$
$
2022
719.9
200.3
9.3
70.0
12.9
1,012.4
Change
$ 218.2
62.3
(1.0)
2.0
0.2
281.7
$
$
Six Months Ended
June 30,
2021
249.7 $
74.5
12.8
65.2
12.6
414.8 $
Last Twelve
Months
$ 1,397.6
369.7
19.1
136.9
24.6
$ 1,947.9
Change
470.2
125.8
(3.5)
4.8
0.3
597.6
(1) EBITDA is defined as the sum of net income plus income taxes, interest expense and depreciation and amortization
(including deferred dry-docking amortization). EBITDA should not be considered as an alternative to net income
(as determined in accordance with GAAP), as an indicator of our operating performance, or to cash flows from
operating activities (as determined in accordance with GAAP) as a measure of liquidity. Our calculation of
EBITDA may not be comparable to EBITDA as calculated by other companies, nor is this calculation identical to
the EBITDA used by our lenders to determine financial covenant compliance.
Matson.View entire presentation