(a)This represents the dilutive effect of awards under equity compensation plans. Refer to the table below for the effect on adjusted weighted average shares outstanding - diluted.
The following table reconciles weighted average shares outstanding - diluted under US GAAP to adjusted weighted average shares outstanding - diluted used in the calculation of adjusted diluted EPS:
|
2019 |
2018 |
||||||||
(shares in thousands) |
Q4 |
Q3 |
YTD |
Q4 |
YTD |
|||||
Weighted average shares outstanding - diluted |
18,587 |
|
18,724 |
|
18,713 |
|
18,687 |
|
18,659 |
|
Dilutive effect of awards under equity compensation plans |
118 |
|
- |
|
- |
|
- |
|
- |
|
Adjusted weighted average shares outstanding - diluted |
18,705 |
|
18,724 |
|
18,713 |
|
18,687 |
|
18,659 |
|
Reconciliation of GAAP net income to adjusted EBITDA*:
|
2019 |
2018 |
|||||||||||||
(amounts in millions) |
Q4 |
Q3 |
YTD |
Q4 |
YTD |
||||||||||
Net income |
$ |
(28.8 |
) |
$ |
23.4 |
|
$ |
47.3 |
|
$ |
24.5 |
|
$ |
87.7 |
|
|
|
|
|
|
|
||||||||||
Interest expense, net |
1.1 |
|
1.8 |
|
6.9 |
|
2.1 |
|
6.6 |
|
|||||
| Income tax expense |
(9.5 |
) |
5.3 |
|
7.8 |
|
0.9 |
|
22.9 |
|
|||||
| Depreciation |
7.6 |
|
7.6 |
|
31.4 |
|
10.3 |
|
33.5 |
|
|||||
| Amortization |
4.4 |
|
4.4 |
|
17.8 |
|
4.4 |
|
16.5 |
|
|||||
| Stock-based compensation expense |
3.0 |
|
3.2 |
|
12.3 |
|
2.7 |
|
11.2 |
|
|||||
| Acquisition and related integration costs |
0.5 |
|
0.5 |
|
1.9 |
|
0.4 |
|
2.6 |
|
|||||
| Change in foreign jurisdiction tax regulation on equity awards attributable to a prior period |
— |
|
— |
|
0.5 |
|
— |
|
— |
|
|||||
| Asbestos-related charges |
1.7 |
|
— |
|
1.7 |
|
0.7 |
|
0.7 |
|
|||||
| Environmental accrual adjustment |
0.8 |
|
— |
|
0.8 |
|
— |
|
— |
|
|||||
| Gain from indemnity claim and antitrust litigation settlements |
(0.7 |
) |
— |
|
(0.7 |
) |
(1.3 |
) |
(4.9 |
) |
|||||
| Loss (gain) on sale or disposal of property, plant and equipment |
0.4 |
|
— |
|
0.6 |
|
— |
|
(0.4 |
) |
|||||
| Pension settlement charges |
53.2 |
|
— |
|
53.2 |
|
— |
|
— |
|
|||||
| Purchase accounting inventory adjustment |
— |
|
— |
|
— |
|
— |
|
0.3 |
|
|||||
| Restructuring, severance, impairment and other related costs |
0.8 |
|
1.3 |
|
7.7 |
|
2.7 |
|
9.0 |
|
|||||
| Transition services lease income |
(0.1 |
) |
(0.1 |
) |
(1.0 |
) |
(0.7 |
) |
(1.0 |
) |
|||||
| Adjusted EBITDA** |
$ |
34.5 |
|
$ |
47.4 |
|
$ |
188.2 |
|
$ |
46.7 |
|
$ |
184.8 |
|
