Metrics
Debt to EBITDA1
- Turnaround Target: < 2x
- Progress:
- First Quarter 2004 at 2.7
- Improved from December 2003 at 3.1
Interest Coverage2
- Turnaround Target: > 8x
- Progress:
- First Quarter 2004 at 4.8
- Improved from December 2003 at 4.7
1Definition = Debt at end of period / EBITDA for rolling 4 Quarters
2Definition = EBITDA/Interest Expense for rolling 4 Quarters
EBITDA = Operating Income excluding Restructuring Program Charges and Long-lived Assets
impairments plus depreciation and amortization
We are unable to provide a reconciliation of future EBITDA targets to the most directly comparable GAAP measures, net income and operating income, because certain items are out of our control and/or cannot be reasonably predicted, including future interest rates, restructuring charges, tax rates and other matters discussed as risk factors and in cautionary statements about forward looking statements in our filings with the SEC.