Investor Presentaiton
RECONCILIATION OF NON-GAAP MEASURES
HARSCO CORPORATION
RECONCILIATION OF PROJECTED CONSOLIDATED ADJUSTED EBITDA TO PROJECTED CONSOLIDATED INCOME FROM CONTINUING OPERATIONS (Unaudited)
(In millions)
Consolidated income from continuing operations
Add back:
Income tax expense
Net interest
Defined benefit pension income
Depreciation and amortization
Consolidated Adjusted EBITDA
Projected
Three Months Ending
December 31
2020
Low
High
$
1
$
3
$
1
4
16
16
(2)
(2)
42
42
58
$
63
Consolidated Adjusted EBITDA is a non-GAAP financial measure and consists of income from continuing operations adjusted to add back income tax expense; equity income of unconsolidated
entities, net; net interest; defined benefit pension income (expense); unused debt commitment and amendment fees; and depreciation and amortization (excluding amortization of deferred
financing costs); and excludes unusual items. Segment Adjusted EBITDA consists of operating income from continuing operations adjusted to exclude unusual items and add back depreciation
and amortization (excluding amortization of deferred financing costs). The sum of the Segments' Adjusted EBITDA equals consolidated Adjusted EBITDA. The Company's management believes
Adjusted EBITDA is meaningful to investors because management reviews Adjusted EBITDA in assessing and evaluating performance. However, this measure should be considered in addition
to, rather than as a substitute for, net income from continuing operations, operating income from continuing operations and other information provided in accordance with GAAP. The
Company's method of calculating Adjusted EBITDA may differ from methods used by other companies and, as a result, Adjusted EBITDA may not be comparable to other similarly titled
measures disclosed by other companies.
© 2020 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation
44
HARSCOView entire presentation