Matson Results Presentation Deck
19
Appendix -Non-GAAP Measures
Matson reports financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The Company also considers other
non-GAAP measures to evaluate performance, make day-to-day operating decisions, help investors understand our ability to incur and service
debt and to make capital expenditures, and to understand period-over-period operating results separate and apart from items that may, or could,
have a disproportional positive or negative impact on results in any particular period. These non-GAAP measures include, but are not limited to,
Earnings Before Interest, Income Taxes, Depreciation and Amortization ("EBITDA").
(In millions)
Net Income
Subtract:
Add:
Add:
Add:
Add:
EBITDA (1)
(In millions)
Net Income
Subtract:
Add:
Add:
Add:
Add:
EBITDA (1)
Interest income
Interest expense
Income taxes
Depreciation and amortization
Dry-dock amortization
Interest income
Interest expense
Income taxes
MATSON, INC. AND SUBSIDIARIES
Net Income to EBITDA Reconciliations
(Unaudited)
Depreciation and amortization
Dry-dock amortization
Second Quarter 2023 Earnings Conference Call
$
$
$
2023
Three Months Ended
June 30,
2022
380.7
80.8 $
(8.7)
2.9
2023
4.5
23.5
109.7
35.8
34.9
6.2
6.2
140.5 $ 536.0 $ (395.5) $
Six Months Ended
June 30,
114.8 $
(16.9)
7.4
2022
719.9
Change
$ (299.9) $
(8.7)
(1.6)
(86.2)
0.9
9.3
200.3
70.0
12.9
Last Twelve
Months
458.8
(25.1)
16.1
121.8
140.0
24.4
736.0
Change
$ (605.1)
(16.9)
(1.9)
33.7
(166.6)
70.8
0.8
12.4
(0.5)
222.2 $ 1,012.4 S (790.2)
(1) EBITDA is defined as earnings before interest, income taxes, depreciation and amortization (including deferred dry-
docking amortization). EBITDA should not be considered as an alternative to net income (as determined in
accordance with GAAP), as an indicator of our operating performance, or to cash flows from operating activities (as
determined in accordance with GAAP) as a measure of liquidity. Our calculation of EBITDA may not be
comparable to EBITDA as calculated by other companies, nor is this calculation identical to the EBITDA used by
our lenders to determine financial covenant compliance.
Matson.View entire presentation