LandSea Homes Investor Presentation
42
RECONCILIATIONS OF ADJUSTED METRICS
CONT'D
$ in millions
Net Income (Loss) to Landsea
Add: Interco. Interest in COGS¹
Add: Purch. Acctg. in COGS²
Add: (Profit)/Loss from JV's
Total Adjustments
Normalized Effective Tax Rate
Tax-Effected Adjustments
Illustrative Adj. Net Income to Landsea
ADJUSTED NET INCOME
2018
$29.2
9.2
0.0
(13.0)
(3.9)
28%
(2.8)
$26.4
2019
$17.2
15.6
2.9
7.9
26.4
28%
19.0
$36.2
FYE 12/31
2020E
$0.8
10.4
9.0
14.2
33.5
27%
24.5
$25.3
Source: Landsea Homes Management Notes: 1) Intercompany interest pushed down by our parent 2) Purchase accounting adjustments from business combinations and acquired inventory.
2021E
$33.3
7.5
8.2
(1.6)
14.1
27%
10.3
$43.5
2022E
$63.9
3.2
11.6
0.0
14.8
27%
10.8
$74.7
LANDSEAⓇ®
HOMES
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