Investor Presentaiton
RECONCILIATION OF NON-GAAP MEASURES
HARSCO CORPORATION
RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited)
(In thousands)
Harsco
Environmental
Harsco Clean
Earth (a)
Harsco Rail
Corporate
Consolidated
Totals
Three Months Ended September 30, 2020:
Operating income (loss) as reported
Corporate acquisition and integration costs
$
12,317
$
8,902
$
4,059
$
(20,214)
$
5,064
$
$
Corporate contingent consideration adjustments
Harsco Clean Earth Segment integration costs
114
| | |
$
10,645
$
10,645
2,437
2,437
114
Operating income (loss) excluding unusual items
Depreciation
Amortization
Adjusted EBITDA
Revenues as reported
Adjusted EBITDA margin (%)
12,317
9,016
25,588
5,010
4,059
1,258
(7,132)
497
18,260
32,353
1,970
6,218
85
8,273
$
39,875
$
20,244
$
5,402
$
(6,635)
$
58,886
$
222,507
$
194,098
$
92,793
$
509,398
17.9 %
10.4 %
5.8 %
11.6 %
40
(a) The Company's acquisition of ESOL closed on April 6, 2020 and the Company's acquisition of Clean Earth closed on June 28, 2019.
Consolidated Adjusted EBITDA is a non-GAAP financial measure and consists of income from continuing operations adjusted to add back income tax expense; equity income of unconsolidated entities,
net; net interest; defined benefit pension income (expense); unused debt commitment and amendment fees; and depreciation and amortization (excluding amortization of deferred financing costs);
and excludes unusual items. Segment Adjusted EBITDA consists of operating income from continuing operations adjusted to exclude unusual items and add back depreciation and amortization
(excluding amortization of deferred financing costs). The sum of the Segments' Adjusted EBITDA equals consolidated Adjusted EBITDA. The Company's management believes Adjusted EBITDA is
meaningful to investors because management reviews Adjusted EBITDA in assessing and evaluating performance. However, this measure should be considered in addition to, rather than as a
substitute for, net income from continuing operations, operating income from continuing operations and other information provided in accordance with GAAP. The Company's method of calculating
Adjusted EBITDA may differ from methods used by other companies and, as a result, Adjusted EBITDA may not be comparable to other similarly titled measures disclosed by other companies.
© 2020 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
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