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Non-GAAP Reconciliations
($ in thousands, unaudited) 12/31/22 12/31/23 6/30/24
Reconciliation from Net Income (Loss) to Adjusted EBITDA:
Net income (loss) (87,784) $ (10,838) $ 6,002 $
Adjustments:
Income tax provision (benefit) 12,603 18,352 13,027 Net interest expense 18,950 17,338 11,368
Other (income) expense, net 23,330 3,590 2,598 Depreciation and amortization 142,686 164,116 89,824 Non-cash gain on equity investment (8,262) - - EBITDA 101,523 192,558 122,819 Adjustments:
(Gain) loss on disposition of assets, net - (367) 150 Acquisition and integration costs 2,664 540 - General provision (release) for current expected credit losses 781 1,149 (6) (Gain) loss on extinguishment of long-term debt - 37,277 20,922 Change in fair value of contingent consideration 16,054 42,246 - Adjusted EBITDA 121,022 $ 273,403 $ 143,885 $
Free Cash Flow:
Cash flows from operating activities 51,108 $ 152,457 $ 52,320 $
Less: Capital expenditures, net of proceeds from sale of assets (33,504) (18,659) (7,231) Free cash flow 17,604 $ 133,798 $ 45,089 $
Net Debt:
Long-term debt and current maturities of long-term debt 264,075 $ 361,722 $ 318,629 $
Less: Cash and cash equivalents and restricted cash (189,111) (332,191) (275,066) Net Debt 74,964 $ 29,531 $ 43,563 $
NON-GAAP RECONCILIATIONS |