Driving Digital Transformation and Shareholder Value
Historical EBITDA and Adjusted EBITDA GAAP
Reconciliations ($M) (cont'd)
2009
2010
2011
2012
2013
2014 2015
2016
2017 2018
2019
YTD
2020
$ 2,209 $ 2,853 $ 3,024
$ 644
Net cash provided by operating activities (9)
Adjustments for items included in net cash provided by operating activities but
excluded from the calculation of EBITDA:
Loss from discontinued operation, net of taxes
Amortization of deferred financing costs and original issue discounts
Gain on sales of rental equipment
(Loss) gain on sales of non-rental equipment
Gain on insurance proceeds on damaged equipment (10)
Gain (loss) on sale of software subsidiary (7)
Merger related costs (2)
Restructuring charge (3)
Stock compensation expense, net (8)
Gain (loss) on extinguishment of debt securities, and amendments of debt
facilities
Loss on retirement of subordinated convertible debentures (1)
Excess tax benefits from share-based payment arrangements (11)
Changes in assets and liabilities
Cash paid for interest, including subordinated convertible debentures (1)
Cash paid (received) for income taxes, net
EBITDA
$ 438 $ 452 $ 612 $ 721 $ 1,551 $ 1,801 $1,987 $ 1,941
2
4
(17) (23) (22)
(23)
(21)
(17
(10
(9
(9 (12)
(15)
125
176
229
227
204
220 278
313
2
6
11
8
4
4
6
6
8
12
21
22
7
41
སྐྱེ¥ ||||g༅ སྐྱེ། | ༄ སྨྱ
(19)
8
(111)
| 20° | € @ ¦ ¦
∞ ∞ |
(11
26
(50
(36)
(31)
(34)
(19) (99)
(12)
(6
(14
(50 (31)
(18)
(8)
(8)
(12)
(32)
(46)
(74
(49
(45
(87 (102)
(61)
7
(28)
(3) (72)
(1)
(80
(123
(101
(54
(61)
13
(2)
(2)
ཐ | བྱཙྪ་ྕ ་ྕ།
®8 €| |$ཆ
622 22
(4)
83
1
6
(2)
$ % ད ° } : སེཤྩ
(13)
5
58
(58)
65
49
31
182
194
101
129 124
170
234
229
203
461
457
447
415
3
(49)
24
40
48
100
60
99
589
649
879
1,501
2,181
2,599
2,774
2,665
357 455
205 71
2,895 3,628
581
174
238
4,200
888
:: ༄ ༄ །ཙྪ
(4)
3
Add back:
Merger related costs (2)
Restructuring charge (3)
Stock compensation expense, net (8)
Impact of the fair value mark-up of acquired fleet (6)
(Gain) loss on sale of software subsidiary (7)
Adjusted EBITDA
United Rentals®
31
8
| | |
19
111
9
11
(26
50
36
1
$
628 $
| g 。 | 「「g
19
99
12
(1)
6
14
50
31
18
8
12
32
46
74
49
45
87
102
61
13
37
44
35
29
35
82
66
75
12
N2 N
(8)
1
691 $ 929 $ 1,772 $ 2,293 $ 2,718
$
2,832 $
2,759 $ 3,164 $ 3,863 $ 4,355
$
915
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2020 United Rentals, Inc. All rights reserved.
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