Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 121

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 121
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 30, 2023$%Net Income$70.4 $135.7 $(65.3)(48.1)%Interest expense, net49.6 60.0 (10.4)(17.3)%Income taxes29.9 47.1 (17.2)(36.5)%Depreciation12.0 9.3 2.7 29.0 %Amortization32.0 29.8 2.2 7.4 %EBITDA*$193.9 $281.9 $(88.0)(31.2)%Restructuring (income) expense(1)(2.9)1.2 (4.1)(341.7)%Impairment(2)12.0 — 12.0 100.0 %Loss on extinguishment and modification of debt(3)1.7 3.9 (2.2)(56.4)%Acquisition expense (income)(4)3.5 (1.4)4.9 (350.0)%Other0.3 — 0.3 100.0 %Adjusted EBITDA*$208.5 $285.6 $(77.1)(27.0)%

(1)Restructuring (income) expense consist of the following: 1) facility relocations; 2) severance and hiring costs associated with our strategic transformation, including executive leadership team changes; 3) sale of a manufacturing facility; and 4) strategic business assessment and transformation projects.

(2)Impairment consists of the write down of the DBCI tradename intangible asset. 

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(3)Adjustments for loss on extinguishment and modification of debt are related to the write off of unamortized fees and third-party fees as a result of the debt modification completed in April 2024 and the debt refinancing of its existing certain First Lien Credit and Guarantee Agreement, dated as of February 12, 2018 (as amended to date, the “First Lien Term Loan”) pursuant to Amendment No. 6 to the First Lien Term Loan, that occurred in August 2023 (the “Amendment No. 6 First Lien”).

(4)Expenses or income related to various professional fees, net working capital finalization, and legal settlements from acquisition related activities. 

*Janus uses