Investor Presentaiton
Adjusted EBITDA Reconciliation
Year Ended December 31,
($ in millions)
2016
2017
Net income
Interest expense, net
Provision for income taxes
Depreciation and amortization
$44.6
$47.7
2018
$213.3
2019
$252.6
2020
LTM 9/30/2021
$122.0
$281.3
178.2
147.0
159.6
162.6
149.9
138.2
38.1
141.9
54.2
77.4
0.2
89.8
322.1
347.5
369.1
353.0
320.3
311.4
Net income attributable to controlling interests
583.0
684.1
796.2
845.6
592.4
820.7
ABCDEFG
Debt extinguishment and refinancing related costs
97.6
13.4
9.5
0.2
34.4
32.2
Termination benefits and other employee related costs
61.8
35.3
81.7
35.2
74.9
39.6
Strategic review and retention costs
13.4
30.7
15.3
Offering and transactional costs
6.0
26.1
1.0
1.0
0.3
10.8
Consulting and advisory
10.4
(0.1)
Loss on divestiture, impairment, and deconsolidation
Foreign exchange remeasurement losses
68.4
78.5
21.1
5.7
1.4
30.6
7.4
9.2
8.3
7.2
2.0
Н
J
HI
- K
Long-term employee benefit plan adjustments
1.5
1.4
(1.9)
0.1
(0.1)
1.4
Stock-based compensation
41.1
38.5
37.3
15.7
15.1
10.9
Dividends in respect of noncontrolling interest
(3.0)
(3.0)
(1.0)
(1.5)
(0.9)
(1.1)
K
Operational matter
3.9
LMN
Brazil indirect tax
(8.3)
Gain on sale of facility
(8.9)
Other adjustments
Adjusted EBITDA
5.0
$902.4
3.6
$885.2
5.2
$937.2
(0.2)
$938.9
0.4
$760.1
$919.9
Adjusted EBITDA to interest expense coverage ratio
5.1x
6.0x
5.9x
5.8x
5.1x
6.7x
AXALTA COATING SYSTEMS
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