Investor Presentaiton
Non-GAAP Reconciliations
Target Hospitality Corp.
Reconciliation of Net cash provided by operating activities to Discretionary cash flow
($ in thousands)
For the Three Months Ended
December 31,
For the Twelve Months Ended
December 31,
2021
2020
2021
2020
Total Revenue
Net cash provided by operating activities
Less: Maintenance capital expenditures for specialty rental
assets
Discretionary cash flows
Purchase of specialty rental assets
Purchase of property, plant and equipment
81,691 $
51,610
291,337 $
225,148
5,151 $
18,188
104,599 $
46,781
(3,252)
(122)
(11,659)
(888)
1,899 $
18,066
$
92,940 $
45,893
(11,780)
(576)
(35,488)
(12,177)
(127)
(198)
(427)
(381)
Proceeds from sale of specialty rental assets and other
property, plant and equipment
113
990
Receipt of insurance proceeds
619
Net cash used in investing activities
Principal payments on finance and capital lease obligations
Proceeds from borrowings on finance and capital lease
obligations
(11,907) $
(661)
$
(35,915) $
(10,949)
(479)
(928)
(4,172)
(11,581)
3,286
13,437
Principal payments on borrowings from ABL
(22,000)
(76,000)
Proceeds from borrowings on ABL
28,000
(74,500)
42,500
Restricted shares surrendered to pay tax liabilities
(15)
(99)
(221)
Purchase of treasury stock
(5,318)
Net cash provided by (used in) financing activities
Discretionary Cash Flows Yield % to Total Revenue
(479) $
2%
(19,657)
35%
$
(52,271) $
(35,683)
32%
20%
TARGET
HOSPITALITY
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