Investor Presentation June 2021
Adjusted EBITDA¹ reconciliation to GAAP
Six months ended March 31,
(Millions)
2021
2020
Net Income [GAAP]
$
276.3 $
200.6
Add back:
Provision for ISRS rulings
4.8
Missouri regulatory adjustment
(9.0)
Interest charges
51.5
53.9
Income tax expense
68.6
44.5
Depreciation and amortization
102.3
96.7
Adjusted EBITDA [non-GAAP]
$
489.7
$
400.5
Long-term capitalization
March 31, 2021
(Millions)
Equity²
Preferred
Capitalization
$2,497.5
$ 242.0
Current portion of long-term debt
Long-term Capitalization
$2,497.5
$ 242.0
Debt
$2,692.5
110.8
$2,803.3
Total
$5,432.0
110.8
$5,542.8
% of long-term capitalization
45.0%
4.4%
50.6%
100.0%
1Adjusted EBITDA is earnings before provision for ISRS rulings, Missouri regulatory adjustment, interest, income tax, and depreciation and amortization.
2Includes temporary equity of $8.2M and excludes preferred stock.
40 Spire | Investor presentation
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