{ "docId": "019de513-66da-76e8-b74e-18787c686da4", "docSlug": "1dafce9c58f6bf748b20fb374acf62aa", "documentTitle": "Commercial Metals Company | Investor Presentation Deck | 31 slides", "authorId": "commercial-metals-company", "authorName": "Commercial Metals Company", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2022-06-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 30, "pageCount": 31, "prevPage": 29, "nextPage": 31, "slideType": "appendix_disclosure", "function": "other", "density": "overcrowded", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de513-66da-76e8-b74e-18787c686da4/30", "deckHref": "/decks/019de513-66da-76e8-b74e-18787c686da4", "deckJsonHref": "/decks/019de513-66da-76e8-b74e-18787c686da4.json", "deckAnchorHref": "/decks/019de513-66da-76e8-b74e-18787c686da4#slide-30", "components": [ { "bbox": { "h": 0.045, "w": 0.953, "x": 0.047, "y": 0.628 }, "kind": "paragraph", "text": "RETURN ON INVESTED CAPITAL (or ROIC)\nReturn on invested capital is defined as: 1) after-tax operating profit divided by 2) the average total assets less cash & cash equivalents less non-interest-bearing liabilities for the trailing five quarters", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "22a59205-4e3e-4c9d-ba00-87c6cfeccbe2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.255, "w": 0.953, "x": 0.047, "y": 0.133 }, "kind": "paragraph", "text": "CORE EBITDA FROM CONTINUING OPERATIONS\nCore EBITDA from continuing operations is the sum of earnings from continuing operations before interest expense and income taxes. It also excludes recurring non-cash charges for depreciation and amortization and asset impairments. Core EBITDA from continuing operations also excludes debt extinguishment costs, non-cash equity compensation, certain gains on sale of assets, certain facility closure costs, acquisition settlement costs and labor cost government refunds. Core EBITDA from continuing operations should not be considered an alternative to earnings (loss) from continuing operations or net earnings (loss), or as a better measure of liquidity than net cash flows from operating activities, as determined by GAAP. However, we believe that Core EBITDA from continuing operations provides relevant and useful information, which is often used by analysts, creditors and other interested parties in our industry as it allows: (i) comparison of our earnings to those of our competitors; (ii) a supplemental measure of our ongoing core performance; and (iii) the assessment of period-to-period performance trends. Additionally, Core EBITDA from continuing operations is the target benchmark for our annual and long-term cash incentive performance plans for management. Core EBITDA from continuing operations may be inconsistent with similar measures presented by other companies.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6f06bb67-208b-48b6-83f7-f65488b0bc8d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.953, "x": 0.047, "y": 0.718 }, "kind": "paragraph", "text": "RETURN ON INCREMENTAL CAPITAL DEPLOYED\nReturn on incremental capital deployed is defined as: 1) the change in after-tax operating profit from period 1 to period 2 divided by 2) the change in invested capital from period 1 to period 2", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "89dfebe9-3e20-4556-8758-0d43ff665bc3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.953, "x": 0.047, "y": 0.683 }, "kind": "paragraph", "text": "NET DEBT TO ADJUSTED EBITDA\nNet debt to Adjusted EBITDA is defined as: 1) net debt divided by 2) trailing Adjusted EBITDA from continuing operations", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9f0f5e1c-9562-469a-8c06-738b37e8f489", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.953, "x": 0.047, "y": 0.593 }, "kind": "paragraph", "text": "NET DEBT\nNet debt is defined as total debt less cash and cash equivalents.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d50862b4-7555-4a7b-a955-e56a202a2fe7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.185, "w": 0.953, "x": 0.047, "y": 0.398 }, "kind": "paragraph", "text": "ADJUSTED EBITDA FROM CONTINUING OPERATIONS\nAdjusted EBITDA from Continuing Operations is a non-GAAP financial measure. Adjusted EBITDA is the sum of the Company's earnings from continuing operations before interest expense, income taxes, depreciation and amortization expense, impairment expense, and amortization of acquired unfavorable contract backlog. Adjusted EBITDA from continuing operations should not be considered an alternative to earnings from continuing operations or any other performance measure derived in accordance with GAAP. However, we believe that adjusted EBITDA from continuing operations provides relevant and useful information to investors as it allows: (i) a supplemental measure of our ongoing performance and (ii) the assessment of period-to-period performance trends. Management uses adjusted EBITDA from continuing operations to evaluate our financial performance. 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