Reconciliation of GAAP net income to adjusted EBITDA*:
|
2022 |
2021 |
|||||||||||||
(amounts in millions) |
Q4 |
Q3 |
YTD |
Q4 |
YTD |
||||||||||
GAAP Net income |
$ |
67.3 |
|
$ |
14.8 |
|
$ |
116.6 |
|
$ |
23.1 |
|
$ |
108.1 |
|
|
|
|
|
|
|
||||||||||
Interest expense, net |
|
4.0 |
|
|
2.9 |
|
|
9.5 |
|
|
1.1 |
|
|
2.5 |
|
Income tax expense |
|
11.1 |
|
|
2.8 |
|
|
23.8 |
|
|
(11.2 |
) |
|
18.1 |
|
Depreciation |
|
7.7 |
|
|
7.3 |
|
|
29.5 |
|
|
7.3 |
|
|
29.0 |
|
Amortization |
|
3.8 |
|
|
4.1 |
|
|
16.4 |
|
|
4.9 |
|
|
14.3 |
|
| Stock-based compensation expense |
|
0.2 |
|
|
3.5 |
|
|
11.8 |
|
|
3.8 |
|
|
17.0 |
|
| Acquisition and related integration costs |
|
0.1 |
|
|
0.1 |
|
|
0.8 |
|
|
2.9 |
|
|
3.9 |
|
| Asbestos-related charges |
|
0.1 |
|
|
— |
|
|
0.1 |
|
|
(0.2 |
) |
|
(0.2 |
) |
| Loss/(gain) on sale or disposal of assets |
|
0.5 |
|
|
— |
|
|
0.5 |
|
|
(0.2 |
) |
|
(0.9 |
) |
| Pension settlement charges |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
0.5 |
|
| Restructuring, severance, impairment and other related costs |
|
68.1 |
|
|
1.3 |
|
|
70.9 |
|
|
1.5 |
|
|
6.1 |
|
| UTIS fire (recovery)/charges |
|
0.4 |
|
|
(0.6 |
) |
|
(2.4 |
) |
|
1.9 |
|
|
6.1 |
|
| (Income) costs associated with terminated merger |
|
(138.6 |
) |
|
3.4 |
|
|
(120.3 |
) |
|
6.9 |
|
|
6.9 |
|
| Dispositions |
|
3.2 |
|
|
0.0 |
|
|
3.2 |
|
|
— |
|
|
— |
|
| Adjusted EBITDA |
$ |
27.8 |
|
$ |
39.7 |
|
$ |
160.2 |
|
$ |
41.7 |
|
$ |
211.5 |
|
