EX-99.2 3 a16-20503_1ex99d2.htm EX-99.2

Exhibit 99.2

 

DOVER DOWNS GAMING & ENTERTAINMENT, INC.

SUPPLEMENTAL DATA

RECONCILIATION OF NET EARNINGS TO EBITDA

In Thousands

(Unaudited)

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2016

 

2015

 

2016

 

2015

 

Reconciliation of net earnings to EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

520

 

$

826

 

$

1,077

 

$

1,105

 

Income tax expense

 

279

 

131

 

818

 

614

 

Earnings before income taxes

 

799

 

957

 

1,895

 

1,719

 

Interest expense

 

214

 

259

 

661

 

937

 

Depreciation

 

1,959

 

2,030

 

5,799

 

6,353

 

EBITDA

 

$

2,972

 

$

3,246

 

$

8,355

 

$

9,009

 

 

We define EBITDA as earnings before interest, taxes, depreciation and amortization.  EBITDA is a supplemental non-GAAP financial measure commonly used by management and industry analysts to evaluate our operations and we believe that EBITDA provides useful information to investors.  EBITDA should not be construed as an alternative to net earnings (as an indicator of our operating performance) as determined in accordance with accounting principles generally accepted in the United States of America. Not all companies calculate EBITDA in the same manner, and EBITDA as presented by Dover Downs Gaming & Entertainment, Inc. may not be comparable to similarly titled measures presented by other companies.