Triton Outlook and Market Fundamentals slide image

Triton Outlook and Market Fundamentals

Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income and Adjusted Return on Equity (In thousands, except earnings per share) Net income attributable to common shareholders Add (subtract): Q1'21 $ 129,325 $ Q2 '21 54,704 $ Q3 '21 Q4'21 123,045 $ 177,426 $ 2021 Total 484,500 $ Q1'22 181,230 $ Q2'22 184,591 $ Q3 '22 176,809 $ Q4'22 152,180 $ 2022 Total 694,810 Debt termination expense & unrealized loss (gain) on derivative 89,485 instruments, net State and other income tax adjustments 41,214 (496) 1,119 131,818 (403) 1,443 197 49 1,286 (957) (1,453) (510) 8,551 8,041 Tax benefit from vesting of restricted shares Adjusted net income $ (643) 128,682 (40) (683) $ Adjusted net income per common share - Diluted $ 1.91 $ 144,189 $ 2.14 $ 163,763 $ 177,548 $ 2.43 $ 2.67 $ 614,182 9.16 $ $ (1,184) 179,643 $ 2.76 $ (107) (1,291) 186,034 $ 2.92 $ 176,496 $ 2.88 $ 160,673 $ 702,846 2.76 $ 11.32 Q1'21 Q2'21 Q3 '21 Q4'21 2021 Total Q1'22 Q2'22 Q3'22 Q4'22 2022 Total Adjusted net income $ 128,682 $ 144,189 $ 163,763 $ 177,548 $ 614,182 $ 179,643 $ Annualized Adjusted net income (1) 521,877 578,340 649,712 704,402 614,182 728,552 186,034 $ 746,180 176,496 $ 160,673 $ 702,846 700,229 637,453 702,846 Beginning Shareholders' equity 2,010,948 2,169,318 2,172,077 2,248,870 Ending Shareholders' equity 2,169,318 2,172,077 2,248,870 2,334,712 (2)(3) Average Shareholders' equity $ 2,090,133 $ 2,170,698 $ 2,210,474 $ 2,291,791 2,010,948 2,334,712 $ 2,187,185 2,334,712 2,470,554 2,544,300 2,543,921 2,470,554 2,544,300 2,543,921 2,474,363 2,334,712 2,474,363 $ 2,402,633 $ 2,507,427 $2,544,111 $ 2,509,142 $ 2,473,570 Adjusted return on equity 25.0% 26.6% 29.4% 30.7% 28.1% 30.3% 29.8% 27.5% 25.4% 28.4% (1) Annualized Adjusted net income was calculated based on calendar days per quarter. (2) Average Shareholders' equity was calculated using the quarter's beginning and ending Shareholder's equity for the three-month ended periods, and the ending Shareholders' equity from each quarter in the current year and December 31 of the previous year for the twelve-month ended periods. (2) Average shareholders' equity was adjusted to exclude preferred shares. TRITON 34
View entire presentation