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| ADVANCED DRAINAGE SYSTEMS, INC. | ||
| By: | /s/ Joseph A. Chlapaty | |
| Name: Title: |
Joseph A. Chlapaty President and Chief Executive Officer (Principal Executive Officer) | |
| By: | /s/ Scott A. Cottrill | |
| Name: Title: |
Scott A. Cottrill Chief Financial Officer (Principal Financial Officer) | |
| (Amounts in thousands, except per share data) | 2015 | 2014 | 2013 | |||||||||
| NET (LOSS) INCOME PER SHARE — BASIC: |
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| Net income attributable to ADS |
$ | 8,620 | $ | 8,627 | $ | 20,660 | ||||||
| Adjustment for: |
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| Change in fair value of Redeemable convertible preferred stock |
(11,054 | ) | (3,979 | ) | (5,869 | ) | ||||||
| Dividends paid to Redeemable convertible preferred stockholders |
(661 | ) | (10,139 | ) | (735 | ) | ||||||
| Dividends paid to unvested restricted stockholders |
(11 | ) | (418 | ) | (52 | ) | ||||||
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| Net (loss) income available to common stockholders and participating securities |
(3,106 | ) | (5,909 | ) | 14,004 | |||||||
| Undistributed income allocated to participating securities |
— | — | (1,127 | ) | ||||||||
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| Net (loss) income available to common stockholders — Basic |
(3,106 | ) | (5,909 | ) | 12,877 | |||||||
| Weighted average number of common shares outstanding — Basic |
51,344 | 47,277 | 46,698 | |||||||||
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| Net (loss) income per common share — Basic |
$ | (0.06 | ) | $ | (0.12 | ) | $ | 0.28 | ||||
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| NET (LOSS) INCOME PER SHARE — DILUTED: |
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| Net (loss) income available to common stockholders — Basic |
(3,106 | ) | (5,909 | ) | $ | 12,877 | ||||||
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| Weighted average number of common shares outstanding — Basic |
51,344 | 47,277 | 46,698 | |||||||||
| Assumed exercise of stock options |
— | — | 551 | |||||||||
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| Weighted average number of common shares outstanding — Diluted |
51,344 | 47,277 | 47,249 | |||||||||
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| Net (loss) income per common share — Diluted |
$ | (0.06 | ) | $ | (0.12 | ) | $ | 0.27 | ||||
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| Potentially dilutive securities excluded as ant-dilutive |
4,454 | 535 | 78 | |||||||||
| 2015 | 2014 | 2013 | ||||||||||||||||||||||
| (Amounts in thousands) | Domestic | International | Domestic | International | Domestic | International | ||||||||||||||||||
| Net income |
$ | 7,198 | $ | 5,553 | $ | 4,962 | $ | 7,258 | $ | 11,180 | $ | 12,000 | ||||||||||||
| Depreciation and amortization |
59,397 | 6,075 | 57,834 | 5,840 | 57,728 | 5,374 | ||||||||||||||||||
| Interest expense |
19,308 | 60 | 18,659 | 148 | 18,390 | 136 | ||||||||||||||||||
| Income tax expense |
8,510 | 933 | 17,924 | 2,025 | 13,949 | 1,986 | ||||||||||||||||||
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| Segment EBITDA |
94,413 | 12,621 | 99,379 | 15,271 | 101,247 | 19,496 | ||||||||||||||||||
| Derivative fair value adjustments |
7,774 | (28 | ) | (53 | ) | — | (4 | ) | — | |||||||||||||||
| Foreign currency transaction losses (gains) |
5,636 | (232 | ) | — | 845 | — | 1,085 | |||||||||||||||||
| Loss (gain) on sale of disposal or businesses |
257 | 105 | (2,817 | ) | (46 | ) | (880 | ) | (71 | ) | ||||||||||||||
| Unconsolidated affiliates interest, taxes, depreciation and amortization (a) |
1,341 | 2,244 | 156 | 2,689 | — | 2,137 | ||||||||||||||||||
| Special Dividend compensation |
— | — | 22,624 | — | — | — | ||||||||||||||||||
| Contingent consideration remeasurement |
174 | — | 738 | — | (74 | ) | — | |||||||||||||||||
| Stock-based compensation |
5,880 | — | 4,518 | — | 2,080 | — | ||||||||||||||||||
| ESOP deferred stock-based compensation |
12,144 | — | 7,891 | — | 7,283 | — | ||||||||||||||||||
| Transaction costs (b) |
1,448 | — | 1,560 | — | — | — | ||||||||||||||||||
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| Segment Adjusted EBITDA |
$ | 129,067 | $ | 14,710 | $ | 133,996 | $ | 18,759 | $ | 109,652 | $ | 22,647 | ||||||||||||
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| (Amounts in thousands) | 2015 | 2014 | 2013 | |||||||||
| Supplemental disclosures of cash flow information — cash paid during years: |
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| Interest |
$ | 18,709 | $ | 17,267 | $ | 18,392 | ||||||
| Income taxes |
$ | 28,503 | $ | 23,701 | $ | 23,924 | ||||||
| (Amounts in thousands) | 2015 | 2014 | 2013 | |||||||||
| Supplemental schedule of noncash investing and financing activities: |
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| Redeemable convertible preferred stock dividend |
$ | 127 | $ | 118 | $ | 110 | ||||||
| Redemption of common stock to exercise stock options |
93 | 1,187 | 805 | |||||||||
| Receivable recorded to exercise stock options |
— | 76 | 142 | |||||||||
| Purchases of plant, property, and equipment included in accounts payable |
124 | 682 | 3,769 | |||||||||
| Receivable recorded for sale of businesses |
600 | 1,241 | 1,800 | |||||||||
| ESOP distributions in common stock |
6,133 | — | — | |||||||||
| Inventory contributed for Investment in unconsolidated affiliate |
— | 1,285 | — | |||||||||
| Assets acquired and obligation incurred under capital lease |
24,047 | 24,902 | 16,715 | |||||||||
| Lease obligation retired upon disposition of leased assets |
779 | 3,708 | 109 | |||||||||
| Reclassification of liability classified stock options upon initial public offering |
1,522 | — | — | |||||||||
| Reclassification of deferred public offering cost asset upon initial public offering |
$ | 456 | $ | — | $ | — | ||||||