Events & Presentations
Reconciliation of Net Earnings to EBITDA and Adjusted EBITDA
Jun 8, 2016
The Corporation calculates Earnings before Interest, Income Taxes, Depreciation, Depletion and Amortization ("EBITDA") as net earnings (loss) before interest expense, income tax expense (benefit) and depreciation, depletion and amortization expense. EBITDA is also before the cumulative effect of a change in accounting principle, if applicable. Adjusted EBITDA excludes Bluegrass acquisition-related expenses.
EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP. Accordingly, they should not be considered as a substitute for net earnings (loss), operating earnings (loss), cash flow provided by operating activities or other income or cash flow data prepared in accordance with GAAP. However, the Corporation's management believes that EBITDA and Adjusted EBITDA may provide additional information with respect to the Corporation's performance or ability to meet its future debt service, capital expenditures and working capital requirements. Because EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net earnings and may vary among companies, the EBITDA presented by Martin Marietta may not be comparable to similarly titled measures of other companies.