|HORNBECK OFFSHORE SERVICES INC /LA filed this Form 10-Q on 05/09/2018|
The following table provides the detailed components of EBITDA as we define that term for the three months ended March 31, 2018 and 2017, respectively (in thousands):
The following table reconciles EBITDA to cash flows provided by operating activities for the three months ended March 31, 2018 and 2017, respectively (in thousands):
In addition, we have also historically made certain adjustments, as applicable, to EBITDA for losses on early extinguishment of debt, stock-based compensation expense and interest income, to internally evaluate our performance based on the computation of ratios used in certain financial covenants of our credit agreements with various lenders, whenever applicable. We believe that such ratios can, at times, be material components of financial covenants and, when applicable, failure to comply with such covenants could result in the acceleration of indebtedness or the imposition of restrictions on our financial flexibility.
The following table provides certain detailed adjustments to EBITDA, as defined in our first-lien credit facility, for the three months ended March 31, 2018 and 2017, respectively (in thousands):
Set forth below are the material limitations associated with using EBITDA as a non-GAAP financial measure compared to cash flows provided by operating activities.