Adjusted Pre-tax Earnings is defined as Earnings from Continuing Operations Before Income Taxes less amounts related to the Severance and Retention agreement with DHL, plus net derivative losses, plus the write-off related to the termination of certain credit agreements in conjunction with the refinancing of the Company's debt, plus asset impairment charges. Adjusted Pre-tax earnings from Continuing Operations is a non-GAAP financial measure and should not be considered as alternatives to Earnings from Continuing Operations Before Income Taxes or any other performance measure derived in accordance with GAAP.
|AIR TRANSPORT SERVICES GROUP, INC. AND SUBSIDIARIES UNAUDITED ADJUSTED EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST, TAXES,DEPRECIATION AND AMORTIZATIONNON-GAAP RECONCILIATION (In thousands)|
|Three Months Ended||Nine Months Ended|
|September 30,||September 30,|
|Earnings (Loss) from Continuing Operations Before|
|Depreciation and Amortization||22,616||22,758||68,865||65,310|
|EBITDA from Continuing Operations||$||19,225||$||43,986||$||97,262||$||122,845|
|Add Asset impairment charges||27,144||—||27,144||—|
|Add Net loss on derivative instruments||1,881||—||5,437||—|
|Add Write-off of unamortized debt issuance costs||—||—||2,886||—|
|Less DHL Severance and Retention activities||—||—||—||(3,549||)|
|Adjusted EBITDA from Continuing Operations||$||48,250||$||43,986||$||132,729||$||119,296|
EBITDA and Adjusted EBITDA from Continuing Operations are non-GAAP financial measures and should not be considered as alternatives to Earnings from Continuing Operations Before Income Taxes or any other performance measure derived in accordance with GAAP.
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