Endo Reports First-Quarter 2019 Financial Results

Thursday, May 9, 2019 General News
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Reconciliation of Net Debt Leverage Ratio (non-GAAP)

The following table provides a reconciliation of our Net loss (GAAP) to our Adjusted EBITDA (non-GAAP) for the twelve months ended March 31, 2019 (in thousands) and the calculation of our Net Debt Leverage Ratio (non-GAAP):

Twelve Months Ended March 31, 2019

Net loss (GAAP)

$

(544,553)

Income tax expense

18,347

Interest expense, net

530,341

Depreciation and amortization (14)

676,805

EBITDA (non-GAAP)

$

680,940

Inventory step-up and other cost savings

$

195

Upfront and milestone-related payments

44,715

Inventory reserve increase from restructuring

559

Separation benefits and other restructuring

38,774

Certain litigation-related and other contingencies, net

16,315

Asset impairment charges

633,971

Acquisition-related and integration costs

2,004

Fair value of contingent consideration

(24,426)

Gain on extinguishment of debt

(119,828)

Share-based compensation

60,914

Other income, net

(44,273)

Other adjustments

45

Discontinued operations, net of tax

67,912

Adjusted EBITDA (non-GAAP)

$

1,357,817

Calculation of Net Debt:

Debt

$

8,111,277

Cash (excluding Restricted Cash)

981,739

Net Debt (non-GAAP)

$

7,129,538

Calculation of Net Debt Leverage:

Net Debt Leverage Ratio (non-GAAP)

5.3



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