Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 66

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 66
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 a substitute for financial information provided in accordance with U.S. GAAP. This non-GAAP financial measure may not be computed in the same manner as similarly titled measures used by other companies.

31

The following table reconciles our net income, the most directly comparable U.S. GAAP financial measure, to our adjusted EBITDA: 

    Fiscal Year Ended December 31.
     
    2024

    2023

    (Dollars in thousands)

    Net income (loss)
     
    $
    (78,182
    )
     
    $
    (92,852
    )

    Interest expense, net

    67,105

    62,140

    Income tax provision (benefit)

    25,501

    (23,946
    )

    Depreciation

    66,947

    73,534

    Amortization

    19,469

    19,457

    Factoring fees

    5,902

    4,198

    Loss on extinguishment of debt and other refinancing costs (1)

    19,938

    —

    Loss on deconsolidation of subsidiary

    —

    79,629

    Restructuring costs

    7,020

    8,098

    Restructuring related costs (2)

    15,009

    29,333

    Change in fair value of embedded derivative liabilities

    (2,430
    )

    (3,366
    )

    Other costs (3)

    —

    2,925

    Adjusted EBITDA
     
    $
    146,279

    $
    159,150

    Adjusted EBITDA as a percentage of net sales

    11.5
    %

    11.5
    %

    Adjusted EBITDA as a percentage of value added sales

    21.2
    %

    21.3
    %

(1)During the year ended December 31, 2024, we recognized a $13.1 million loss on extinguishment of debt in connection with our amended and restated term loan facility. We also incurred $6.8 million in additional expenses recognized in SG&A expenses associated with our refinancing activities during the year ended December 31, 2024.

(2)During the year ended December 31, 2024