Investor Presentaiton
RECONCILIATION OF EBITDA AND ADJUSTED EBITDA
For the Years Ended December 31,
(in thousands)
(Unaudited)
As of November 2, 2023
Estimated Guidance Range
2023E
Midpoint
2010
2014
2015
2016
2017
2018
2019
2020
2021
2022
Low
High
Net income from continuing operations attributable to common stock (as defined by
GAAP)
$
142,693 $
it expense, net
on for income taxes
ciation expense
3,485
269,224 $
1,029
88,884
139,007
107,246
120,286 $ 198,725 $ 314,978 $
6,531
12,464
20,114
97,472
293,346 $
35,390
402,044 $
65,963
445,596 $
42,564
485,956
65,705
491,189 $
729,000
743,900 $
758,800
121,757
168,000
169,500
171,000
35,532
161,659
165,472
119,387
130,918
192,243
222,700
230,450
238,200
101,199
141,106
162,845
ization of intangible assets
37,655
34,257
34,848
170,240
31,685
183,808
32,205
202,519
218,107
225,256
255,529
290,647
321,400
321,400
321,400
43,994
62,091
76,704
165,366
353,973
283,000
283,000
283,000
Interest, income taxes, depreciation and amortization included in equity in earnings.
of integral unconsolidated affiliates
3,174
9,728
14,274
19,300
19,300
19,300
ITDA (a)
373,916
584,623
421,982
520,360
586,637
736,908
913,677
ash stock-based compensation
sition and integration costs
20,640
37,449
36,939
41,134
46,448
52,484
52,013
912,681
91,641
1,113,202
88,259
10,575
14,754
7,966
3,053
10,579
17,233
24,767
19,809
47,368
1,464,083
105,600
47,431
1,743,400
1,767,550
1,791,700
127,400
127,400
127,400
37,600
37,600
37,600
in (earnings) losses of non-integral unconsolidated affiliates.
332
466
979
10,945
52,867
(76,801)
9,994
(2,121)
(20,333)
(1,100)
(1,100)
(1,100)
58,451
7,964
59,950
52,658
13,892
8,282
5,743
14,457
(5,171)
(11,248)
13,404
6,352
1,326
719
6,808
6,734
4,422
800
800
800
QUANTA
impairment charges
e in fair value of contingent consideration liabilities
ince and restructuring costs
on sales of investments
ized loss from mark-to-market adjustment on investment
tion of indemnification asset
n purchase gain
on for long-term contract receivable
tion expense
on early extinguishment of debt
Ijusted EBITDA
>nsolidated revenues
Ijusted EBITDA Margin
102,460
38,848
3,991
(3,138)
(22,222)
91,500
(1,500)
(1,500)
(1,500)
$
7,107
412,238 $
778.466 $
525,804 $
579,842 $
709,388 $
902.228 $
941,805 $
1,049,934 $ 1,259,185
$
1,684.938 $ 1,906,600 $ 1,930,750 $ 1,954,900
$
3,629,433 $
11.4 %
7,747,229 $ 7,572,436 $
10.0 %
6.9%
7,651,319 $
7.6%
9,466,478 $ 11,171,423 $
7.5%
8.1%
12,112,153 $
7.8 %
11,202,672 $ 12,980,213
9.4 %
9.7%
17,073,903
9.9%
20,100,000
9.5%
20,250,000
9.5%
20,400,000
9.6 %
(a) The calculation of EBITDA in prior periods has been amended to conform to the 2021 calculation of EBITDA.
Page 52View entire presentation