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  "documentTitle": "MP Materials | Investor Presentation Deck | 17 slides",
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  "authorName": "MP Materials",
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  "presentationDate": "2023-10-01 00:00:00",
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      "text": "1. Principally included in \"Selling, general and administrative\" within our unaudited Condensed Consolidated Statements of Operations.\n2. Relates to certain costs that do not qualify for capitalization incurred in connection with the initial commissioning and starting up of our separations capability at Mountain Pass and our metal alloy and magnet-making capabilities at Fort Worth prior to the achievement of commercial production. These costs include payroll of employees directly involved in such commissioning activities, training costs, costs of testing and commissioning the new circuits and processes, and other related costs. Given the nature and scale of the related costs and activities, management does not view these as normal, recurring operating expenses, but rather as non-recurring investments to develop such capabilities. Therefore, we believe it is useful and necessary for investors to understand our core operating performance in current and future periods by excluding the impact of these start-up costs.\n3. The majority of the amounts are included in \"Advanced projects, start-up, development and other\" within our unaudited Condensed Consolidated Statements of Operations, and pertains to legal, professional services, and other costs associated with non-recurring transactions.\n4. Amounts for the twelve months ended June 30, 2023, and 2022, are principally comprised of interest and investment income.",
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      "text": "For the twelve months ended June 30, 2023\n(in thousands, unaudited)\nNet income $ 175,026\nAdjusted for:\nDepreciation, depletion and amortization 28,014\nInterest expense, net 5,306\nIncome tax expense 14,381\nStock-based compensation expense(1) 27,310\nStart-up costs(2) 13,504\nTransaction-related and other non-recurring costs(3) 7,130\nAccretion of asset retirement and environmental obligations 1,094\nLoss on sale or disposal of long-lived assets, net 4,943\nOther income, net(4) (44,635)\nAdjusted EBITDA $ 232,073",
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      "text": "Reconciliation: Net Income to Adjusted EBITDA",
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