LandSea Homes Investor Presentation
41
RECONCILIATIONS OF ADJUSTED METRICS
CONT'D
$ in millions
Net Income
Add: Tax Provision
Pretax Income
Add: Third-Party Interest in COGS
Add: Interco. Interest in COGS
Add: Interco. Int. Amort. to JVinc.
Depreciation
EBITDA
Margin %
Add: Purch. Acctg. In COGS
Add: (Profit)/Loss from JVs
Add: Transaction Costs
Add: Impairment in COGS
Less: Debt Forgiveness Income
Less: Vale Imputed Int. in COGS¹
Operating EBITDA
Margin %
OPERATING EBITDA
2017
$(0.3)
0.2
(0.1)
2.0
2.7
0.2
$4.7
2%
0.5
$5.1
3%
Source: Landsea Homes Management Notes: 1) Imputed interest related to a land banking transaction that was treated as a product financing arrangement.
FYE 12/31
2018
$36.7
4.6
41.3
7.2
9.2
4.1
1.6
$63.4
17%
(17.1)
(4.3)
$42.0
11%
2019
$22.4
6.2
28.6
24.7
15.6
1.9
3.0
$73.9
12%
2.9
6.0
1.2
(10.0)
$73.9
12%
LANDSEAⓇ®
HOMES
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