Matson Results Presentation Deck
20
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").
EBITDA RECONCILIATION
(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
Depreciation and amortization
Dry-dock amortization
S
Third Quarter 2022 Earnings Conference Call
2022
266.0
(1.3)
5.0
68.1
33.9
5.7
$ 377.4
Three Months Ended
September 30,
2021
Last Twelve
Change
Months
$ 283.2 $ (17.2) $ 1,380.4
(1.3)
(1.3)
5.1
(0.1)
19.0
91.4
(23.3)
32.7
1.2
5.4
0.3
417.8 $ (40.4) $1,907.5
$
$
$
2022
985.9
(1.3)
14.3
268.4
103.9
18.6
1,389.8
Nine Months Ended
September 30,
2021
$
532.9 $
17.9
165.9
97.9
18.0
832.6
346.4
138.1
24.9
Change
453.0
(1.3)
(3.6)
102.5
6.0
0.6
557.2
(1) EBITDA is defined as the sum of net income minus interest income plus interest expense, income taxes and
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.
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