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Financial statement / pro forma projections
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1.5 MB
Summary
This document is a financial summary table for 'KLC OpCo' presenting historical pro forma (2004-2005) and projected (2006-2011) financials. It includes operational data (Revenue, EBITDA), balance sheet data, and cash flow data. The document outlines a projected revenue growth of 8.0% CAGR driven by the ECE segment. It appears to be part of a larger report, indicated by page number 93 and the House Oversight Bates stamp.
Organizations (4)
| Name | Type | Context |
|---|---|---|
| KLC OpCo | ||
| KLC PropCo | ||
| KSI | ||
| House Oversight Committee |
Relationships (2)
Footnote 1: 'Excludes equity in earnings of unconsolidated subsidiary (KLC PropCo).'
Footnote 4: 'Non-cash expenses related to KSI's Stock Appreciation Rights Plan attributed to KLC's employees...'
Key Quotes (2)
"Management projects revenue to increase at a 8.0% CAGR, from $1.6 billion in 2006 to $2.3 billion in 2011."Source
HOUSE_OVERSIGHT_024526.jpg
Quote #1
"Most of the projected growth stems from KLC OpCo's ECE segment which currently accounts for approximately 96.0% of KLC OpCo's pro forma revenue."Source
HOUSE_OVERSIGHT_024526.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (2,861 characters)
KLC OpCo Summary Historical Pro Forma and Projected Financials
Fiscal Year Ended December 31,
($ in millions) 2004PF 2005PF 2006P 2007P 2008P 2009P 2010P 2011P
OPERATIONAL DATA
Revenue $1,442.2 $1,477.7 $1,557.8 $1,656.5 $1,769.6 $1,919.7 $2,095.8 $2,290.8
Growth 2.5% 5.4% 6.3% 6.8% 8.5% 9.2% 9.3%
Fiscal Year Ended December 31,
($ in millions) 2004PF 2005PF 2006P 2007P 2008P 2009P 2010P 2011P
OPERATIONAL DATA
Revenue $1,442.2 $1,477.7 $1,557.8 $1,656.5 $1,769.6 $1,919.7 $2,095.8 $2,290.8
Growth 2.5% 5.4% 6.3% 6.8% 8.5% 9.2% 9.3%
Gross Profit $233.3 $244.4 $290.7 $320.6 $354.0 $396.2 $448.2 $501.3
Adjusted EBITDA $143.3 $149.9 $161.7 $179.9 $204.8 $237.5 $279.0 $320.1
Margin 9.9% 10.1% 10.4% 10.9% 11.6% 12.4% 13.3% 14.0%
Margin 9.9% 10.1% 10.4% 10.9% 11.6% 12.4% 13.3% 14.0%
Adjusted EBITDAR $352.8 $367.4 $371.4 $391.4 $419.6 $459.7 $510.8 $568.6
Margin 24.5% 24.9% 23.8% 23.6% 23.7% 23.9% 24.4% 24.8%
Margin 24.5% 24.9% 23.8% 23.6% 23.7% 23.9% 24.4% 24.8%
Operating Income $27.1 $78.9 $101.6 $117.8 $146.9 $179.5 $212.4
Total Interest Expense 23.5 23.6 23.5 23.4 23.3 23.1 22.9
Net Income¹ $1.6 $31.1 $46.0 $56.9 $77.4 $98.3 $117.9
Total Interest Expense 23.5 23.6 23.5 23.4 23.3 23.1 22.9
Net Income¹ $1.6 $31.1 $46.0 $56.9 $77.4 $98.3 $117.9
BALANCE SHEET DATA
Cash $118.8 $154.2 $215.8 $288.5 $373.7 $484.8 $621.2
Accounts Receivable 55.6 58.6 62.4 66.6 72.3 78.9 86.2
PP&E, Net 286.6 301.9 305.9 309.4 315.0 315.6 311.1
Accounts Payable 13.0 13.7 14.6 15.6 16.9 18.4 20.1
Cash $118.8 $154.2 $215.8 $288.5 $373.7 $484.8 $621.2
Accounts Receivable 55.6 58.6 62.4 66.6 72.3 78.9 86.2
PP&E, Net 286.6 301.9 305.9 309.4 315.0 315.6 311.1
Accounts Payable 13.0 13.7 14.6 15.6 16.9 18.4 20.1
SELECTED CASH FLOW DATA
Net Income (Loss)¹ $1.6 $31.1 $46.0 $56.9 $77.4 $98.3 $117.9
+ Depreciation 47.9 54.6 56.2 61.5 67.3 74.2 80.9
+ Amortization of Intangibles 11.6 12.8 10.0 8.8 3.6 3.5 3.5
+ Amortization of Deferred Financing Fees 0.8 0.8 0.8 0.8 0.8 0.8 0.8
+ Change in Working Capital² 0.0 2.8 3.4 3.9 5.2 6.1 6.8
+ Change in Accrued LTIP³ 0.0 2.6 4.0 4.5 2.4 1.1 0.6
+ Change in Accrued SAR⁴ 9.9 2.1 3.1 3.2 3.7 4.7 5.6
+ Change in Other Assets 0.0 (0.6) (0.8) (0.9) (1.2) (1.4) (1.5)
Net Income (Loss)¹ $1.6 $31.1 $46.0 $56.9 $77.4 $98.3 $117.9
+ Depreciation 47.9 54.6 56.2 61.5 67.3 74.2 80.9
+ Amortization of Intangibles 11.6 12.8 10.0 8.8 3.6 3.5 3.5
+ Amortization of Deferred Financing Fees 0.8 0.8 0.8 0.8 0.8 0.8 0.8
+ Change in Working Capital² 0.0 2.8 3.4 3.9 5.2 6.1 6.8
+ Change in Accrued LTIP³ 0.0 2.6 4.0 4.5 2.4 1.1 0.6
+ Change in Accrued SAR⁴ 9.9 2.1 3.1 3.2 3.7 4.7 5.6
+ Change in Other Assets 0.0 (0.6) (0.8) (0.9) (1.2) (1.4) (1.5)
= Operating Cash Flow $71.9 $106.0 $122.7 $138.7 $159.3 $187.4 $214.5
- Capital Expenditures (83.1) (69.9) (60.2) (65.0) (72.8) (74.8) (76.4)
- Capitalized Lease Payments (0.5) (0.8) (0.9) (1.0) (1.3) (1.5) (1.7)
= Cash for Debt Service $(11.7) $35.4 $61.6 $72.7 $85.2 $111.1 $137.9
- Capital Expenditures (83.1) (69.9) (60.2) (65.0) (72.8) (74.8) (76.4)
- Capitalized Lease Payments (0.5) (0.8) (0.9) (1.0) (1.3) (1.5) (1.7)
= Cash for Debt Service $(11.7) $35.4 $61.6 $72.7 $85.2 $111.1 $137.9
CAPITALIZATION
Total Debt $276.4 $275.6 $274.7 $273.7 $272.5 $271.0 $269.3
Shareholders' Equity⁵ 254.1 283.1 330.1 390.7 474.8 583.6 721.1
Total Capitalization $530.5 $558.7 $604.9 $664.4 $747.3 $854.6 $990.4
Total Debt $276.4 $275.6 $274.7 $273.7 $272.5 $271.0 $269.3
Shareholders' Equity⁵ 254.1 283.1 330.1 390.7 474.8 583.6 721.1
Total Capitalization $530.5 $558.7 $604.9 $664.4 $747.3 $854.6 $990.4
¹ Excludes equity in earnings of unconsolidated subsidiary (KLC PropCo).
² KLC has not divided change in working capital between KLC OpCo and KLC PropCo. Traditionally KLC OpCo operates with positive working capital.
³ For additional detail, see the discussion below under the heading "– Long Term Incentive Plan."
⁴ Non-cash expenses related to KSI's Stock Appreciation Rights Plan attributed to KLC's employees and payable by KSI in cash upon settlement.
⁵ Represents book value.
² KLC has not divided change in working capital between KLC OpCo and KLC PropCo. Traditionally KLC OpCo operates with positive working capital.
³ For additional detail, see the discussion below under the heading "– Long Term Incentive Plan."
⁴ Non-cash expenses related to KSI's Stock Appreciation Rights Plan attributed to KLC's employees and payable by KSI in cash upon settlement.
⁵ Represents book value.
Revenue
Management projects revenue to increase at a 8.0% CAGR, from $1.6 billion in 2006 to $2.3 billion in 2011. Most of the projected growth stems from KLC OpCo's ECE segment which currently accounts for approximately 96.0% of KLC OpCo's pro forma revenue. The following table shows projected revenue by business segment:
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HOUSE_OVERSIGHT_024526
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