Investor Presentaiton
Adjusted EBITDA Reconciliation
Matador Resources Company, Consolidated
The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of
net income (loss) and net cash provided by operating activities, respectively.
(In thousands)
Unaudited Adjusted EBITDA reconciliation to Net (Loss) Income:
Net (loss) income attributable to Matador Resources Company shareholders
Net (loss) income attributable to non-controlling interest in subsidiaries
Net (loss) income
Interest expense
Total income tax (benefit) provision
Depletion, depreciation and amortization
Accretion of asset retirement obligations
Full-cost ceiling impairment
Unrealized loss (gain) on derivatives
Stock-based compensation expense
Net (gain) loss on asset sales and impairment
Prepayment premium on extinguishment of debt
Consolidated Adjusted EBITDA
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
Adjusted EBITDA attributable to Matador Resources Company shareholders
(In thousands)
Unaudited Adjusted EBITDA reconciliation to
Net Cash Provided by Operating Activities:
Net cash provided by operating activities
Net change in operating assets and liabilities
Interest expense, net of non-cash portion
1Q 2016
2Q 2016
3Q 2016
4Q 2016
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
2Q 2018
3Q 2018
4Q 2018
$ (107,654)
(13)
(107,667)
$ (105,853)
106
(105,747)
$ 11,931
116
12,047
7,197
6,167
6,880
(1,141)
$ 104,154
155
104,309
7,955
105
$ 43,984
1,916
45,900
$ 28,509
$15,039
$38,335
3,178
2,940
31,687
17,979
4,106
42,441
$ 59,894
5,030
64,924
$ 59,806
5,831
65,637
$ 17,794
7,321
$136,713
7,375
25,115
144,088
8,455
9,224
8.550
8,336
(8,157)
8,491
8,004
10,340
14,492
(7,691)
28,923
264
31.248
289
30,015
31,863
276
354
33,992
300
41,274
314
47,800
323
54,436
353
55,369
364
66,838
375
70,457
387
72,478
404
80,462
78,171
6,839
26,625
2,243
3,310
(1,065)
(1,002)
(3,203)
3,584
(1,073)
10,977
3,224
(104,137)
(20,631)
4,166
(7)
(13,190)
7,026
12,372
1,296
11,734
4,166
(10,416)
4,179
(1,429)
4,766
(16)
21,337
4,842
196
(74,577)
3,413
17,196
39,061
4
(115)
47,385
(125)
54,650
(164)
72,175
(2,216)
76,335
(3,683)
88,304
(3,471)
113,309
(4,690)
122,911
(5,657)
144,191
(6,853)
31,226
163,900
$ 17,200
$ 38,946
$ 47,260
$ 54,486
$ 69,959
$ 72,652
$ 84,833
$ 108,619
$117,254
$ 137,338
$ 155,392
(8,508)
152,607
(9,368)
$ 143,239
1Q 2016
2Q 2016
3Q 2016
4Q 2016
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
2Q 2018
3Q 2018
4Q 2018
$ 136,149
(21,364)
8,126
(5,657)
$ 118,059
18,174
7,958
(6,853)
$ 137,338
$ 165,111
(11,111)
9,900
(8,508)
$ 155,392
$ 189,205
(50,129)
13,986.
(455)
(9,368)
$ 143,239
$ 18,358
$ 31,242
$ 46,862
$ 37,624
$ 61,309
$ 59,933
$ 101,274
$ 76,609
(8,059)
6,897
1,944
5,875
(4,909)
6,573
9,215
2,455
7,198
7,706
8,411
9,204
(21,481)
8,511
36,886
7,971
(1,141)
105
(8,157)
4
(115)
(125)
(164)
(2,216)
Adjusted EBITDA attributable to Matador Resources Company shareholders
$ 17,200
$ 38,946
$ 47,260
$ 54,486
$ 69,959
$ 72,652
(3,683)
(3,471)
$ 84,833
(4,690)
$108,619
$ 117,254
Current income tax (benefit) provision
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
Matador
RESOURCES COMPANY
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