Attached files
file | filename |
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8-K - FORM 8-K - Howmet Aerospace Inc. | d8k.htm |
EX-99.1 - SLIDE DEPICTING LONG TERM FINANCIAL GOALS FOR ALCOA INC. - Howmet Aerospace Inc. | dex991.htm |
Exhibit 99.2
Adjusted EBITDA
2010 | ||||||||
($ in millions, except per metric ton amount) |
Flat-Rolled Products |
Engineered Products and Solutions |
||||||
After-tax operating income (ATOI) |
$ | 220 | $ | 415 | ||||
Add: |
||||||||
Depreciation, depletion, and amortization |
238 | 154 | ||||||
Equity income |
| (2 | ) | |||||
Income taxes |
92 | 195 | ||||||
Other |
1 | | ||||||
Adjusted EBITDA |
$ | 551 | $ | 762 | ||||
Total sales |
$ | 4,584 | ||||||
Adjusted EBITDA Margin |
16.6 | % | ||||||
Total shipments (thousand metric tons) (kmt) |
1,755 | |||||||
Adjusted EBITDA/Total shipments ($ per metric ton) |
$ | 314 |
Alcoas definition of Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) is net margin plus an add-back for depreciation, depletion, and amortization. Net margin is equivalent to Sales minus the following items: Cost of goods sold; Selling, general administrative, and other expenses; Research and development expenses; and Provision for depreciation, depletion, and amortization. The Other line in the table above includes gains/losses on asset sales and other non-operating items. Adjusted EBITDA is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Adjusted EBITDA provides additional information with respect to Alcoas operating performance and the Companys ability to meet its financial obligations. The Adjusted EBITDA presented may not be comparable to similarly titled measures of other companies.
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