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16
Second Quarter 2016
Dry Powder Calculations
(US Aerospace)
Source: Public Filings; Capital IQ as of 06/30/16
Mid Cap Aerospace Index
3x LTM EBITDA
$1,183.9
$1,168.2
$733.6
$919.9
$1,242.9
$986.1
$3,052.2
-$295.6
Less LT Debt
967.8
1,109.9
880.8
562.9
688.9
1,105.6
1,126.3
1,417.3
Plus Cash
337.3
72.8
219.3
36.8
24.2
348.3
822.9
21.0
Dry Powder
$553.4
$131.1
$72.1
$393.7
$578.2
$228.9
$2,748.8
($1,692.0)
Small Cap Aerospace Index
3x LTM EBITDA
$198.3
$50.2
$371.5
$453.9
$5,305.5
$119.8
$1,870.3
$256.6
Less LT Debt
195.7
0.8
172.3
652.0
16,056.0
250.9
1,595.8
932.1
Plus Cash
50.4
124.3
15.8
211.1
1,515.3
1.4
73.5
63.0
Dry Powder
$53.0
$173.7
$214.9
$13.0
($9,235.2)
($129.7)
$348.0
($612.5)
Large Cap Aerospace Index
3x LTM EBITDA
$3,210.8
$1,776.9
$26,334.0
$3,522.0
$4,812.0
$3,981.4
$30,315.0
Less LT Debt
2,218.4
2,060.2
9,964.0
2,503.0
3,997.0
8,420.1
23,051.0
Plus Cash
386.9
105.0
7,886.0
300.0
723.0
612.0
7,215.0
Dry Powder
$1,379.4
($178.3)
$24,256.0
$1,319.0
$1,538.0
($3,826.7)
$14,479.0
($ millions)