Q1 2023 Financial Performance
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA and
Supplemental Adjusted EBITDA
29
29
Net Income (Loss) (GAAP)
Less: Income from discontinued operations
Less: Income tax provision from discontinued operations
Income (loss) from continuing operations, net of tax
Plus (1):
Interest expense
For the Twelve Months Ended
December 31,
2020
2019
$
(32.4) S
159.1
26.0
80.7
(1.6)
(18.9)
(56.8)
97.3
111.1
88.4
Provision for income taxes
11.4
12.9
Depreciation expense
75.3
41.2
Amortization expense
335.1
105.3
Impairment of intangible assets
19.9
Restructuring and related business transformation costs
88.0
19.6
Acquisition related expenses and non-cash charges
181.5
54.6
Stock-based compensation
47.0
20.2
Foreign currency transaction losses, net
18.6
7.3
Loss on extinguishment of debt
Shareholder litigation settlement recoveries
Adjustments to LIFO inventories
Other adjustments
Adjusted EBITDA (1)
2.0
0.2
(6.0)
39.8
0.2
5.2
0.4
878.1
441.6
Additional Segment Adjusted EBITDA Adjustments (2):
Industrial Technologies & Services
Precision & Science Technologies
Incremental corporate expenses not allocated to segments
Supplemental Adjusted EBITDA
$
40.3
20.4
S
424.8
140.2
(4.9)
(46.4)
933.9
960.2
1 These amounts are reported in accordance with US GAAP and have not been adjusted to reflect the pro forma impact of a full quarter of the
combined Ingersoll Rand.
2.
These "Additional Segment Adjusted EBITDA Adjustments" represent the impact of two months (January and February of 2020) of standalone
legacy Ingersoll Rand Industrial Segment activity in the twelve month period ended December 31, 2020 and a full year of standalone legacy
Ingersoll Rand Industrial Segment activity in the twelve month period ended December 31, 2019. The incremental corporate expenses not
allocated to segments represent additional corporate expenses incurred by the Company to operate the combined Ingersoll Rand.
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