WeWork SPAC Presentation Deck
FY19 and FY20 Adj. EBITDA reconciliation (GAAP to Non-GAAP)
Impact of China Co to Total Company Financials
($ in millions)
Income Statement Summary ($ in Millions)
Total Revenue
Net Income/(Loss)
Income tax (benefit) provision
Interest and other (income) expense, net
Depreciation & Amortization
Restructuring and other related costs
Impairment/ (gain on sale) of goodwill, intangibles, and other
Stock-based compensation
Stock-based compensation for services rendered
Change in fair value of contingent consideration liabilities
Legal, tax and regulatory reserves and settlements
Legal costs related to regulatory investigations and litigations
Expenses related to M&A, divestitures and capital raising activities
Adjusted EBITDA¹
Adjusted EBITDA Margin
Gross and net capital expenditures ($ in Millions)
Gross capital expenditures
Cash collected for tenant improvement allowances
Net capital expenditures
Total Company
(Incl. Ventures)
$3,459
($3,775)
46
(190)
590
329
335
347
20
(61)
4
155
(2,201)
(64%)
($3,488)
$1,134
($2,354)
FY2019
ChinaCo
$229
($274)
8
(1)
42
7
3
18
(61)
0
1
(258)
($176)
$5
($170)
Total Company
(excl. ChinaCo)
$3,230
($3,501)
38
(189)
548
323
335
344
2
4
154
(1,943)
(60%)
($3,312)
$1,129
($2,183)
Total Company
(Incl. Ventures)
$3,416
($3,834)
20
(532)
779
207
1,356
51
8
(0)
2
53
8
(1,883)
(55%)
($1,441)
$1,332
($110)
FY2020
ChinaCo
$206
($610)
11
(15)
39
(19)
450
0
14
(0)
(1)
(130)
($63)
$2
($61)
Note: For the year-ended 12/31/2019 and 12/31/2020. All columns exclude amounts that eliminate in consolidation. As presented in this Management Presentation, certain amounts, percentages and other figures have been
subject to rounding adjustments. Accordingly, figures shown as totals, dollars or percentage amounts of changes may not represent the arithmetic summation or calculation of the figures that precede them.
1. Please see Definitions page in the appendix for detailed definitions.
Total Company
(excl. ChinaCo)
$3,210
($3,224)
8
(518)
740
225
906
51
(6)
2
53
9
(1,754)
(55%)
($1,378)
$1,329
($49)
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