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| URI > SEC Filings for URI > Form 8-K on 4-Feb-2009 | All Recent SEC Filings |
4-Feb-2009
Regulation FD Disclosure
Certain information concerning our business, financial results and 2008 outlook that we expect to use at certain investor meetings and presentations beginning Wednesday, February 4, 2009 (the "Presentation"), can be currently accessed on our website, www.ur.com. The Presentation will be maintained on our website for at least the period of its use at such meetings and presentations or until superseded by more current information.
The Presentation includes certain financial measures - free cash flow, earnings before interest, taxes, depreciation and amortization ("EBITDA"), and pro-forma EBITDA - that are "non-GAAP financial measures" as defined under the rules of the SEC. Free cash flow represents net cash provided by operating activities, less purchases of rental and non-rental equipment plus proceeds from sales of rental and non-rental equipment and excess tax benefits from share-based payment arrangements. EBITDA represents the sum of income from continuing operations before provision for income taxes, interest expense, net, interest expense-subordinated convertible debentures, depreciation-rental equipment and non-rental depreciation and amortization. Pro-forma EBITDA, which relates only to the nine months ended September 30, 2008, excludes from EBITDA the impact of a $14 million charge relating to the settlement of the SEC inquiry of our company.
The Presentation includes reconciliations of these non-GAAP financial measures to their nearest generally accepted accounting principles ("GAAP") financial measures. Management believes that free cash flow provides useful additional information concerning cash flow available to meet future debt service obligations and working capital requirements, and that EBITDA and pro-forma EBITDA each provides an enhanced perspective of our operating performance. However, none of these measures should be considered an alternative to GAAP financial measures (e.g., cash flows from operating activities or net income) as indicators of operating performance, profitability or liquidity.
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