Repay SPAC
Depreciation and Amortization Detail- Historical
($ in millions)
Acquisition-Related Intangibles
Software
Reseller Buyouts
Amortization
Depreciation
Total Depreciation & Amortization
Depreciation and Amortization
2016A
$3.1
0.6
0.0
3.7
0.1
$3.7
2017A
$6.6
0.7
0.0
7.3
0.2
$7.5
2018A
$7.9
2.1
0.1
10.0
0.4
$10.4
YTD Jun-19
$4.0
1.6
0.0
5.6
0.3
$5.9
YTD Jun-18
$4.0
0.8
0.0
4.8
0.2
$4.9
Note: Adjusted Net Income excludes amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size
of acquisitions (see corresponding adjustments in the reconciliation of net income to Adjusted Net Income on slide 27). Management believes that the adjustment of acquisition-related intangible
amortization supplements GAAP financial measures because it allows for greater comparability of operating performance. Although we exclude amortization from acquisition-related intangibles from our
REPAY non-GAAP expenses, management believes that it is important for investors to understand that such intangibles were recorded as part of purchase accounting and contribute to revenue generation.
Realtime Electronic Payments
Amortization of intangibles that relate to past acquisitions will recur in future periods until such intangibles have been fully amortized. Any future acquisitions may result in the amortization of additional
intangibles.
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