expense             3,104         1,648               10,084     8,933 
   Portfolio 
    Optimization 
    Plan costs, 
    before tax            856        27,841                6,631    27,841 
                      -------       -------              -------   ------- 
Adjusted EBITDA      $ 61,100      $ 52,012    17.5%    $268,623  $249,617    7.6% 
                      =======       =======   ========   =======   =======  ======== 
 
The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, 
and Operating Income (GAAP) and Credit Adjusted EBITDA for the year ended December 
31, 2024 and 2023. 
 
                     Year Ended December 31, 
                     ----------------------- 
Debt                     2024        2023 
                     ------------  --------- 
   Short-term 
    borrowings       $ 19,848      $ 13,460 
   Long-term debt     613,523       645,085 
   Credit Agreement 
    adjustments(4)    (13,129)      (16,743) 
                      -------       ------- 
Net Debt             $620,242      $641,802 
                      =======       ======= 
 
Operating income 
 (GAAP)              $191,579      $155,023 
   Depreciation and 
    amortization       60,329        57,820 
   Share-based 
    compensation 
    expense            10,084         8,933 
   Portfolio 
    Optimization 
    Plan costs, 
    before tax          6,631        27,841 
   Other 
    non-operating 
    gains(5)             (905)         (762) 
                      -------       ------- 
Credit Adjusted 
 EBITDA              $267,718      $248,855 
                      =======       ======= 
 
Net Debt to Credit       2.3x        2.6x 
 Adjusted EBITDA 
 
(4) Adjustments include cash and cash equivalents, as described in the Company's 
Third Amended and Restated Credit Agreement (Credit Agreement), and certain letters 
of credit and hedge contracts. 
(5) Adjustments consist of certain financing transaction costs, certain 
non-financing interest items, and gains and losses related to certain non-cash, 
non-operating, and/or non-recurring items as described in the Credit Agreement. 
 
 
 

Category: Earnings

View source version on businesswire.com: https://www.businesswire.com/news/home/20250213674414/en/

 
    CONTACT:    Amy Agallar 

(414) 347-3706

investor.relations@sensient.com

(END) Dow Jones Newswires

February 14, 2025 06:55 ET (11:55 GMT)