Investor Presentaiton
Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ thousands)1
($ in thousands)
Net cash provided by operating activities
Changes in working capital:
Accounts receivable
Three Months Ended September 30,
2022
$388,277
2021
$153,507
($55,998)
$9,515
Prepaid and other assets
($6,163)
($1,812)
Accounts payable and other liabilities
($27,148)
($5,148)
Operating cash flow before working capital changes
$298,968
$156,062
Less: total capital expenditures incurred
($198,900)
($78,900)
Free cash flow
$100,068
$77,162
Merger & integration expense
$59,270
Adjusted free cash flow
$159,338
$77,162
Note: Q3'22 results represent legacy Centennial for the months of July and August and include amounts related to legacy Centennial and legacy Colgate for the month of September
(1) Free cash flow and Adjusted free cash flow are non-GAAP financial measures
PR
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