Commercial Flooring Market Overview
Appendix: Reconciliation of Non-GAAP Figures
Diluted EPS as Reported (GAAP)
Purchase Accounting (after tax impact of $0.6m Q1 2019 and $9.3m in 2018)
Transaction Related Expenses (after tax impact of $2.1m in 2018)
Tax Act Expense (Benefit)
Restructuring and Asset Impairment Charges*
LTM
Q1
Q1
2014
2015
2016
2017
2018
Q1 2019
2018
2019
$0.37
$1.10
$0.83
$0.86
$0.84
$0.71
$0.25
$0.12
0.38
0.40
0.02
0.12
0.12
0.25
(0.11)
(0.11)
0.13
0.12
0.20
0.08
0.26
0.26
Interface®
Debt Retirement Expenses (net of tax impact of $0.6m in 2013 and $4.2m in 2014)
Australia Fire Impact (net of tax impact of $0.2m in 2012 and $3.6m in 2013)
Tax Dispute Resolution
Adjusted Diluted EPS
$0.62
$1.10
$1.03
$1.18
$1.49
$1.38
$0.25
$0.14
* Restructuring and Asset Impairment Charges are net of tax impact of $4.9m in 2012, $3.6m in 2014, $6.7m in 2016, and $2.6m in 2017 and $5.2m in 2018
($ in millions)
2014
2015
2016
2017
2018
Q1 2019
Total Debt
$263
$214
$270
$230
$619
$642
Less: Cash
Net Debt
(55)
(76)
(166)
(87)
(81)
(67)
$208
$138
$105
$143
$538
$575
LTM
Q1
Q1
($ in millions)
2014
2015
2016
2017
2018
Q1 2019
2018
2019
Net Income as Reported (GAAP)
$25
$72
$54
$53
$50
$42
$15
$7
Taxes on Income
Transaction Related Other Expense
Interest Expense
Depreciation & Amortization
11
33
25
47
5
1
5
2
-
-
-
4
4
-
21
6
6
7
15
20
31
31
31
30
39
42
Stock Compensation Amortization
Transaction Related Expenses
Purchase Accounting Amortization
Debt Retirement Expenses
4
14
6
7
15
14
203
7
11
3
5
5
-
32
34
2
Restructuring and Asset Impairment Charges
Adjusted EBITDA
12
12
$116
226
20
7
21
21
$157
$142
$152
$186
$183
$34
$31
Total Debt/ Net Income
Net Debt / Adjusted EBITDA
10.6x
2.9x
5.0x
4.3x
12.3x
1.8x
0.9x
0.7x
0.9x
2.9x
($ in millions)
Proforma nora Net Income prior to Interface Ownership
Proforma nora taxes on income prior to Interface Ownership
For the
Period
1/1/2018
8/7/2018
For the
Period
4/1/2018 -
8/7/2018
$2
$4
(0)
Proforma nora interest expense prior to Interface Ownership
7
4
Proforma nora Depreciation and Amortization prior to Interface Ownership
8
6
Proforma nora other non-recurring charges prior to Interface Ownership
7
6
Proforma nora Adjusted Earnings before Taxes, Interest, Depreciation and Amortization
$24
$19
Proforma Interface + nora (pre-acquisition) Adjusted Earnings before Taxes, Interest,
Depreciation and Amortization (AEBITDA)
$210
$202
Total Debt / Net Income
Net Debt/ Proforma AEBITDA
12.3x
15.2x
2.6x
2.8x
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