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  "documentTitle": "LCI Industries | Investor Presentation Deck | 31 slides",
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      "text": "Leverage ratio (net debt to EBITDA)",
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      "text": "The Leverage Ratio is a non-GAAP measure and should not be considered an alternative to cash flows provided by operating activities as a measure of liquidity. The Company's calculation of the Leverage Ratio may differ from similar calculations used by other companies, and therefore, comparability may be limited. The GAAP measure of Total Debt to Net Income ratio is calculated by dividing total debt by net income.",
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      "text": "The Company uses the Leverage Ratio (or Net Debt to EBITDA ratio) as a metric to assess liquidity and the flexibility of its balance sheet. Consistent with other liquidity metrics, the Company monitors the Leverage Ratio as a measure to determine the appropriate level of debt the Company believes is optimal to operate its business, and accordingly, to quantify debt capacity available for strategic capital allocation and deployment through investments in the business (capital expenditures, acquisitions, and strategic investments) and for returning capital to the shareholders (dividends and share repurchases). The priorities for capital allocation and deployment will change as circumstances dictate for the business, and the Leverage Ratio can be significantly impacted by the amount and timing of large expenditures requiring debt financing, as well as changes in profitability.",
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      "text": "The Leverage Ratio (or Net Debt to EBITDA ratio) is a non-GAAP measure of the use of debt. The Leverage Ratio is calculated by dividing the total of long-term indebtedness, plus current portion of long-term debt, less cash and cash equivalents, by EBITDA. EBITDA, which is also a non-GAAP financial measure, is defined as the trailing twelve months earnings before interest, taxes, depreciation, and amortization.",
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      "text": "As of and for the Twelve Months Ended\nDecember 31, 2023\nDecember 31, 2022\nLong-term Indebtedness $ 847 $ 1,096\nCurrent Portion of Long-Term Debt 1 23\nTotal Debt 848 1,119\nLess: Cash and Cash Equivalents 66 47\nNet Debt $ 782 $ 1,072\nNet Income, as reported GAAP $ 64 $ 395\nAdd back:\nInterest Expense, Net 40 28\nIncome Taxes 19 130\nDepreciation and Amortization 132 129\nEBITDA $ 255 $ 682\nNet Debt to EBITDA Ratio 3.1 x 1.6 x\nTotal Debt to Net Income Ratio 13.3 x 2.8 x",
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      "text": "APPENDIX",
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      "kind": "title",
      "text": "Reconciliation of Non-GAAP Measures",
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