First Quarter 2023 Earnings Conference Call
Credit Facility Covenant
Financial Covenant
Leverage Ratio (not greater than) (¹)
Actual Leverage Ratio
CREDIT AGREEMENT EBITDA RECONCILIATION:
Net Income Available to IPG Common Stockholders
Non-Operating Adjustments (2)
Operating Income
+ Depreciation and Amortization
+ Other Non-cash Charges Reducing Operating Income
+ Other Non-cash Adjustments
Credit Agreement EBITDA (¹);
A
$
Four Quarters Ended
March 31, 2023
3.50x
1.66x
Four Quarters Ended
March 31, 2023
904.6
419.2
1,323.8
336.7
81.3
4.7
1,746.5
(1) The leverage ratio is defined as debt as of the last day of such fiscal quarter to EBITDA (as defined in the Credit Agreement) for the four quarters then ended. Management utilizes Credit Agreement
EBITDA, which is a non-GAAP financial measure, as well as the amounts shown in the table above, calculated as required by the Credit Agreement, in order to assess our compliance with such covenants.
(2) Includes adjustments of the following items from our consolidated statement of operations: provision for income taxes, total (expenses) and other income, equity in net (loss) income of unconsolidated
affiliates, and net income attributable to non-controlling interests.
($ in Millions)
Interpublic Group of Companies, Inc.
26
IFGView entire presentation