GRAPHIC PACKAGING HOLDING CO
For the period ended Nov 3, 2026. Filed Nov 3, 2026.
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Nov 3, 2026 · Filed Nov 3, 2026
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Contents
EX-99.1 · (Continued)
(Continued)
| Twelve Months Ended | |||
|---|---|---|---|
| In millions | September 30, 2026 | September 30, 2025 | December 31, 2025 |
| Net Income | $74 | $511 | $444 |
| Add (Subtract): | |||
| Income Tax Expense | 32 | 165 | 139 |
| Equity Income of Unconsolidated Entity | 1 | (1) | (1) |
| Interest Expense, Net | 264 | 210 | 220 |
| Depreciation and Amortization | 589 | 528 | 540 |
| EBITDA | $960 | $1,413 | $1,342 |
| Charges Associated with Business Combinations, Exit Activities and Other Special Items, Net(a) | 99 | 75 | 41 |
| Other Non-Recurring Items(b) | 22 | — | 12 |
| Adjusted EBITDA | $1,081 | $1,488 | $1,395 |
| Calculation of Net Debt: | September 30, 2026 | September 30, 2025 | December 31, 2025 |
| Short-Term Debt and Current Portion of Long-Term Debt | $854 | $446 | $549 |
| Long-Term Debt(c) | 4,666 | 5,495 | 5,043 |
| Less: | |||
| Cash and Cash Equivalents | (337) | (120) | (261) |
| Net Debt | $5,183 | $5,821 | $5,331 |
| Net Leverage Ratio (Net Debt/Adjusted EBITDA) | 4.8 | 3.9 | 3.8 |
(a) Represents items management believes are not indicative of ongoing operating performance. For more information, see Note 1. Business Combinations, Exit Activities and Other Special Items, Net of the Notes to Condensed Consolidated Financial Statements of the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2026 and the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
(b) Represents certain legal costs related to securities class action and derivative action lawsuits, expenses related to departure of prior Chief Executive Officer, certain consulting costs related to structural transformation, and one-time charges for software licenses related to reduction in usage tied to cost optimization initiatives and write-offs of implementation costs related to software that is no longer in use, offset by non-cash gain on lease termination. Management believes these items are not indicative of ongoing business performance.
(c)Excludes unamortized deferred debt issue costs.
| Nine Months Ended September 30, | ||
|---|---|---|
| In millions | 2026 | 2025 |
| Net Cash Provided by Operating Activities | $295 | $320 |
| Net Cash Receipts from Receivables Sold included in Investing Activities | 227 | 91 |
| Cash Payments Associated with Business Combinations, Exit Activities and Other Special Items, Net and Other Non-Recurring Items | 79 | 65 |
| Adjusted Net Cash Provided by Operating Activities | $601 | $476 |
| Capital Spending | (287) | (808) |
| Adjusted Cash Flow | $314 | $(332) |
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