EX-99.1 2 tfii-ex991_6.htm EX-99.1 tfii-ex991_6.htm

 

99.1

Supplemental Historical Financial Information in U.S. Dollars by Quarter

The amounts presented herein are derived from the Company’s interim financial information previously reported in Canadian dollars and have been translated into U.S. dollars.  This information supplements the earnings press release previously issued.

(unaudited) - (in thousands of U.S. dollars, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

Q4’20

 

Q3’20

 

Q2’20

 

Q1’20

 

Q4’19*

 

Q3’19*

 

Q2’19*

 

Q1’19*

Revenue

 

   1,048,147

 

      866,951

 

      740,106

 

      829,099

 

      883,717

 

      883,142

 

      885,186

 

      825,531

Fuel surcharge

 

        73,859

 

        69,173

 

        58,389

 

        95,410

 

      105,315

 

      105,267

 

      115,064

 

      100,323

Total revenue

 

   1,122,006

 

      936,124

 

      798,495

 

      924,509

 

      989,032

 

      988,409

 

   1,000,250

 

      925,854

Operating expenses

 

   1,004,884

 

      819,085

 

      703,417

 

      837,181

 

      896,248

 

      888,506

 

      888,930

 

      846,993

Operating Income

 

      117,122

 

      117,039

 

        95,078

 

        87,328

 

        92,784

 

        99,903

 

      111,320

 

        78,861

Finance costs

 

        15,382

 

        11,532

 

        12,654

 

        14,342

 

        15,552

 

        16,075

 

        16,069

 

        14,411

Income before income taxes

 

      101,740

 

      105,507

 

        82,424

 

        72,986

 

        77,232

 

        83,828

 

        95,251

 

        64,450

Income Taxes

 

        15,412

 

        22,406

 

        31,966

 

        17,198

 

        19,277

 

        21,282

 

        20,421

 

        15,556

Net income from continuing operations

 

        86,328

 

        83,101

 

        50,458

 

        55,788

 

        57,955

 

        62,546

 

        74,830

 

        48,894

Net income from discontinued operations

 

               -  

 

               -  

 

               -  

 

               -  

 

  (1,275)

 

               -  

 

  (9,273)

 

               -  

Net income attributable to owners

 

        86,328

 

        83,101

 

        50,458

 

        55,788

 

        56,680

 

        62,546

 

        65,557

 

        48,894

EPS – basic

 

            0.92

 

            0.91

 

            0.58

 

            0.66

 

            0.70

 

            0.75

 

            0.78

 

            0.57

EPS – diluted

 

            0.91

 

            0.90

 

            0.57

 

            0.65

 

            0.68

 

            0.74

 

            0.76

 

            0.56

EPS from continuing operations – basic

 

            0.92

 

            0.91

 

            0.58

 

            0.66

 

            0.71

 

            0.76

 

            0.89

 

            0.57

EPS from continuing operations – diluted

 

            0.91

 

            0.90

 

            0.57

 

            0.65

 

            0.70

 

            0.74

 

            0.87

 

            0.56

Adjusted EPS - diluted1

 

            0.98

 

            0.94

 

            0.76

 

            0.61

 

            0.72

 

            0.79

 

            0.88

 

            0.58

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

      652,772

 

      797,938

 

      486,298

 

      566,746

 

      526,584

 

      546,040

 

      565,842

 

      529,903

Non-current assets

 

   3,196,592

 

   2,896,131

 

   2,876,232

 

   2,797,373

 

   2,982,236

 

   2,928,595

 

   2,932,219

 

   2,850,008

Total Assets

 

   3,849,364

 

   3,694,069

 

   3,362,530

 

   3,364,119

 

   3,508,820

 

   3,474,635

 

   3,498,061

 

   3,379,911

Current Liabilities

 

      654,460

 

      682,184

 

      651,848

 

      449,267

 

      487,615

 

      495,680

 

      506,223

 

      484,840

Non current liabilities

 

   1,404,727

 

   1,321,978

 

   1,313,693

 

   1,586,913

 

   1,861,913

 

   1,856,172

 

   1,865,738

 

   1,784,683

Total Liabilities

 

   2,059,187

 

   2,004,162

 

   1,965,541

 

   2,036,180

 

   2,349,528

 

   2,351,852

 

   2,371,961

 

   2,269,523

Equity

 

   1,790,177

 

   1,689,907

 

   1,396,989

 

   1,327,939

 

   1,159,292

 

   1,122,783

 

   1,126,100

 

   1,110,388

Total liabilities and equity

 

   3,849,364

 

   3,694,069

 

   3,362,530

 

   3,364,119

 

   3,508,820

 

   3,474,635

 

   3,498,061

 

   3,379,911

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash from continuing operating activities

 

      164,928

 

      140,649

 

      168,108

 

      137,177

 

      133,262

 

      141,262

 

      105,505

 

      120,467

Net cash used in discontinued operating activities

 

               -  

 

               -  

 

               -  

 

               -  

 

(1,275)                  

 

               -  

 

  (10,747)

 

               -  

Net cash from operating activities

 

      164,928

 

      140,649

 

      168,108

 

      137,177

 

      131,987

 

      141,262

 

94,758

 

      120,467

* Recasted for changes of mark-to-market gain (loss) on deferred share units’ presentation to personnel expenses from finance (income) costs.

The change of the presentation currency to U.S. dollars required the translation of the reported Canadian dollar amounts to U.S. dollars. This translation was performed as follows:

 

• Income Statement and Statement of Cash Flows have been translated into U.S. dollars using average foreign currency rates prevailing for the relevant period.

• Assets and liabilities in the Statement of Financial Position have been translated into U.S. dollars at the closing foreign currency rates on the relevant balance sheet dates.

• Equity in the Statement of Financial Position, including foreign currency translation reserve, retained earnings, share capital and other reserves, have been translated into U.S. dollars using historical rates.

 

To provide greater clarity, the income statement and cashflow are translated on a monthly basis using the monthly rate prevailing for the period. The reported quarter and annual income statement and cashflow are the cumulation of the months there within. As a result, depending on the timing of the revenues, expenses, receipts and payments each amount disclosed, the weighted average rate for each caption may differ.

 

 

 

 


 

Adjusted EPS Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(unaudited) - (in thousands of U.S. dollars, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

Q4’20

 

Q3’20

 

Q2’20

 

Q1’20

 

Q4’19*

 

Q3’19*

 

Q2’19*

 

Q1’19*

Net income for the period

 

  86,328

 

  83,101

 

  50,458

 

  55,788

 

  56,680

 

  62,546

 

  65,557

 

  48,894

Amortization of intangible assets related to business acquisitions, net of tax

 

  10,221

 

  8,822

 

  8,306

 

  7,937

 

  9,263

 

  9,136

 

  8,938

 

  8,419

Net change in fair value and accretion expense of contingent considerations, net of tax

 

  104

 

  3

 

  21

 

  37

 

  40

 

  31

 

  30

 

  45

Net change in fair value of derivatives, net of tax

 

  (373)

 

  (172)

 

  (180)

 

  352

 

  —

 

  —

 

  (10)

 

  10

Net foreign exchange (gain) loss, net of tax

 

  227

 

  (207)

 

  3

 

  (918)

 

  (328)

 

  335

 

  560

 

  (406)

Gain on sale of business, net of tax

 

  (230)

 

  —

 

  —

 

  —

 

  —

 

  —

 

  —

 

  —

Bargain purchase gain

 

  —

 

  —

 

  —

 

  (4,008)

 

  —

 

  —

 

  (8,014)

 

  —

Gain on sale of land and buildings and assets held for sale, net of tax

 

  (1,848)

 

  (1,691)

 

  (144)

 

  (6,625)

 

  (6,872)

 

  (5,273)

 

  (1)

 

  (6,545)

Net loss from discontinued operations

 

  —

 

  —

 

  —

 

  —

 

  1,302

 

  —

 

  9,246

 

  —

U.S. Tax Reform

 

  (1,072)

 

  (2,398)

 

  8,767

 

  —

 

  —

 

  —

 

  —

 

  —

Adjusted net income

 

        93,357

 

        87,458

 

        67,231

 

        52,563

 

        60,085

 

        66,775

 

        76,306

 

        50,417

Adjusted EPS – basic

 

1.00

 

0.96

 

0.77

 

0.62

 

0.74

 

0.79

 

0.91

 

0.59

Adjusted EPS – diluted

 

0.98

 

0.94

 

0.76

 

0.61

 

0.72

 

0.79

 

0.88

 

0.58

* Recasted for changes of mark-to-market gain (loss) on deferred share units presentation to personnel expenses from finance (income) costs.

Refer to the unaudited Q4 earnings press release for the definition of adjusted EPS.