Zimmer Biomet : Description Reconciliation of Debt to Net Debt and Net Debt Leverage Ratio
February 04, 2020 at 02:44 pm EST
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ZIMMER BIOMET HOLDINGS, INC.
RECONCILIATION OF DEBT TO NET DEBT and NET DEBT LEVERAGE RATIO
AS OF DECEMBER 31, 2019 and 2018
(in millions, unaudited)
December 31, 2019
December 31, 2018
Debt, both current and long-term
$
8,221.4
$
8,938.7
Cash and cash equivalents
(617.9)
(542.8)
Net debt
$
7,603.5
$
8,395.9
For the Year Ended
December 31, 2019
Net Earnings of Zimmer Biomet Holdings, Inc.
$
1,131.6
Benefit for income taxes
(225.7)
Interest expense, net
226.9
Inventory and manufacturing-related charges
53.9
Intangible asset impairment
70.1
Quality remediation
87.6
Restructuring and other cost reduction initiatives
50.0
Acquisition, integration and related
12.2
Litigation
65.0
Litigation settlement gain
(23.5)
European Union Medical Device Regulation
30.9
Other charges
119.2
Intangible asset amortization
584.3
Depreciation
421.8
Adjusted EBITDA
$
2,604.3
Net debt / Adjusted EBITDA = Net debt leverage ratio
2.9
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Zimmer Biomet Holdings Inc. published this content on 04 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2020 19:43:00 UTC
Zimmer Biomet Holdings, Inc. specializes in designing, manufacturing, and selling orthopedic and dental reconstruction implants, spinal implants, and traumatology products. Net sales break down by family of products as follows:
- reconstruction implants (57.5%): knees replacement (58.8% of net sales), hips replacement (41.2%);
- surgical products and traumatology equipment (22.1%);
- dental, spinal and craniomaxillofacial implants (12.8%);
- other (7.6%): primarily orthopedic surgery materials and instruments used during post-operative rehabilitation.
At the end of 2021, the group had approximately 30 production sites worldwide.
Net sales are distributed geographically as follows: Americas (61.3%), Europe/Middle East/Africa (21.3%) and Asia/Pacific (17.4%).
ZIMMER BIOMET HOLDINGS, INC. 
