EX-99.2 3 dex992.htm PRELIMINARY CALCULATION OF EBITDA Preliminary Calculation of EBITDA

Exhibit 99.2

 

PSS WORLD MEDICAL, INC.

Unaudited EBITDA Calculation

(Dollars in millions)

 

     Year Ended
April 1, 2005


 

Income from continuing operations

     39.4  

Plus: Interest expense

     6.8  

Less: Interest and investment income

     (0.2 )

Plus: Provision for income taxes

     16.8  

Plus: Depreciation

     14.2  

Plus: Amortization of intangible assets

     4.5  
    


EBITDA

     81.5  
    


Reconciliation of EBITDA to Cash (Used in) Provided by Operating Activities:

        

EBITDA

   $ 81.5  

Operating Asset & Liability Changes:

        

Accounts receivable, net

     (26.3 )

Inventories

     (30.9 )

Prepaid expenses and other current

     (6.2 )

Other assets

     (4.9 )

Accounts payable

     13.0  

Accrued expenses and other liabilities

     7.1  

Noncash Expenses included in EBITDA:

        

Amortization of debt issuance costs

     1.9  

Provision for doubtful accounts

     5.1  

Provision for deferred income taxes

     17.4  

Provision for notes receivable

     0.2  

Provision for deferred compensation

     0.8  

Noncash compensation expense

     0.7  

Loss on sale of property and equipment

     0.2  

Cash Expenses Excluded from EBITDA:

        

Interest expense

     (6.8 )

Interest and investment income

     0.2  

Provision for income taxes

     (16.8 )
    


Net Cash Provided by Operating Activities

   $ 36.2