Shearman & Sterling LLP
Issue link: https://digital.shearman.com/i/1494417
Non-GAAP Financial Metrics (cont.) EBITDA variations Financial Statements – The Basic Requirements 42 • Adjusted EBITDA: • This is a metric reflecting adjustments in addition to those included in the definition of "plain vanilla" EBITDA discussed above • E.g. a growing retail business may calculate adjusted EBITDA as EBITDA less expenses related to the opening of new stores • To further differentiate certain types of adjustments other terms are often used • E.g. "supplemental" EBITDA, "pro forma" EBITDA, "run rate" EBITDA