Canadian Solar Financial and Operational Summary Q1 2022
GAAP to non-GAAP reconciliation
In USD millions
FY20
FY21 4Q21 1Q22
GAAP net income
147
110
40
9
Add back:
Income tax expense
-2
36
26
-5
(benefit)
Net interest expense
63
47
13
11
Non-GAAP EBIT
208
193
79
15
Add back:
Depreciation &
208
283
77
66
amortization
Non-GAAP EBITDA
415
476
156
81
Add back:
Impairments
30
23
12
0
Non-GAAP
445
499
168
81
adjusted EBITDA
To supplement financial disclosures presented in
accordance with GAAP, the Company uses non-GAAP
measures which are adjusted from the most comparable
GAAP measures for certain items as described herein.
The Company presents non-GAAP values for EBITDA so
that readers can better understand the underlying
operating performance of the business, excluding the
effect of non-cash costs such as depreciation, amortization
and impairments.
The non-GAAP numbers are not measures of financial
performance under U.S. GAAP, and should not be
considered in isolation or as an alternative to other
measures determined in accordance with GAAP. These
non-GAAP measures may differ from non-GAAP measures
used by other companies, and therefore their
comparability may be limited.
CanadianSolar
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