|
2023 |
2022 |
||||
(Shares in thousands) |
Q1 |
Q4 |
Q1 |
|||
Weighted average shares outstanding - diluted |
18,604 |
18,820 |
18,999 |
|||
Dilutive effect of awards under equity compensation plans |
32 |
|
0 |
|
0 |
|
Adjusted weighted average shares outstanding - diluted |
18,636 |
|
18,820 |
|
18,999 |
|
Reconciliation of GAAP net income to adjusted EBITDA*:
|
2023 |
2022 |
|||||||
(amounts in millions) |
Q1 |
Q4 |
Q1 |
||||||
GAAP net income (loss) |
$ |
(3.5 |
) |
$ |
67.3 |
|
$ |
16.6 |
|
|
|
|
|
||||||
Interest expense, net |
|
3.5 |
|
|
4.0 |
|
|
1.1 |
|
Income tax expense (benefit) |
|
(0.1 |
) |
|
11.1 |
|
|
3.8 |
|
Depreciation |
|
11.3 |
|
|
7.7 |
|
|
6.4 |
|
Amortization |
|
3.3 |
|
|
3.8 |
|
|
4.3 |
|
| Stock-based compensation expense |
|
2.1 |
|
|
0.2 |
|
|
3.2 |
|
|
|
|
|
|
||||||
| Acquisition and divestiture related costs: |
|
|
|
||||||
| Acquisition and related integration costs |
|
0.1 |
|
|
0.1 |
|
|
0.5 |
|
| Dispositions |
|
1.2 |
|
|
3.2 |
|
|
— |
|
| Loss/(gain) on sale or disposal of assets |
|
— |
|
|
0.5 |
|
|
— |
|
|
|
|
|
|
||||||
| Restructuring, business realignment and other cost saving initiatives: |
|
|
|
||||||
| Restructuring, severance, impairment and other related costs |
|
8.6 |
|
|
68.1 |
|
|
0.5 |
|
|
|
|
|
|
||||||
| Non-routine shareholder advisory costs |
|
7.6 |
|
|
— |
|
|
— |
|
| (Income) costs associated with terminated merger |
|
1.3 |
|
|
(138.6 |
) |
|
11.5 |
|
| UTIS fire (recovery)/charges |
|
(0.2 |
) |
|
0.4 |
|
|
(0.5 |
) |
| Asbestos-related charges |
|
— |
|
|
0.1 |
|
|
— |
|
| Adjusted EBITDA |
$ |
35.1 |
|
$ |
27.8 |
|
$ |
47.2 |
|
| *Values in table may not add due to rounding. |
|||||||||
