From time to time we may publicly disclose certain "non-GAAP financial measures" in the course of our financial presentations, earnings releases, earnings conference calls and otherwise.
We believe that certain non-GAAP performance measures and ratios, which our management uses in managing our business, may provide users of this financial information additional meaningful comparisons between current results and results in prior operating periods. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported operating results or cash flow from operations or any other measure of performance prepared in accordance with GAAP. In addition, our presentation of these measures may not be comparable to similarly titled measures other companies use.
We define EBITDA as net income (loss) plus the provision (benefit) for income taxes, net interest expense, loss on early extinguishment of debt and noncash goodwill impairments, depreciation, depletion and amortization. We define EBITDA margin as the amount determined by dividing EBITDA by total sales. We believe EBITDA and EBITDA margin are widely used by investors for valuation and comparing our financial performance with the performance of other building material companies. We also use EBITDA to monitor and compare the financial performance of our operations. EBITDA does not give effect to the cash we must use to service our debt or pay our income taxes and thus does not reflect the funds actually available for capital expenditures.
We define Free Cash Flow as net cash provided by operations less capital expenditures for property, plant and equipment, net of disposals. We consider Free Cash Flow to be an important indicator of our ability to service our debt and generate cash for acquisitions and other strategic investments.
We define Net Debt as total debt, including current maturities and capital lease obligations, minus cash and cash equivalents. We believe that Net Debt is useful to investors as a measure of our financial position.
We define Capitalization as the sum of the carrying values of our total debt, including current maturities, and stockholders equity. We present Capitalization and the ratio of our Net Debt to Capitalization because we measure our reliance on debt by monitoring our Net Debt to Capitalization ratio.
EBITDA and EBITDA Margin Calculation
- Reconciliation of Net Loss from Continuing Operations to Adjusted EBITDA at March 31, 2007 and 2008
- Reconciliation of Net Loss from Continuing Operations to Adjusted EBITDA at December 31, 2006 and 2007
- Quarterly and Year-to-date 2007
- Quarterly and Year-to-date 2006
- Quarterly and Year-to-date 2005
- Quarterly and Year-to-date 2004
- Quarterly and Year-to-date 2003
- Quarterly and Year-to-date 2002
- Annual 1996-2006
- Quarterly and Year-to-date 2008
- Quarterly and Year-to-date 2007
- Quarterly and Year-to-date 2006
- Quarterly and Year-to-date 2005
- Quarterly and Year-to-date 2004
- Annual 1996 - 2007
Other Non-GAAP Financial Measures
- Unaudited Non-GAAP Condensed Consolidated Statements of Operations for December 31, 2006 and 2007
- Non-GAAP Adjusted Earnings per Share Information for the year ended December 31,2004
- Non-GAAP Adjusted Earnings per Share Information for the three and nine months ended September 30, 2004
- Non-GAAP Adjusted Earnings per Share Information for the three and six months ended June 30, 2004
- Non-GAAP Adjusted Earnings per Share Information for the three months ended March 31, 2004
- Non-GAAP Adjusted Earnings per Share Information for the three and nine months ended September 30, 2003
- Non-GAAP Adjusted Earnings per Share Information for the three and twelve months ended December 31, 2002