Allegiant Travel: 2025 pro forma revenue of $3.67B

Q: What were ALGT's 2025 pro forma revenue and net income?

Allegiant's unaudited pro forma operating revenue was $3,672.668 million and pro forma net income was $47.689 million for the year ended December 31, 2025. The figures present the merger as if it had closed on January 1, 2025.

Q: What were ALGT's pro forma results for the quarter ended June 30, 2026?

Pro forma operating revenue was $1,077.194 million and pro forma net income was $23.594 million for the quarter ended June 30, 2026. The combined figures include Allegiant and Sun Country, with the merger modeled as if it had closed on January 1, 2025.

Q: How long are ALGT's acquisition-accounting adjustments provisional?

The preliminary purchase-price allocation adjustments are subject to further adjustment through May 13, 2027 as additional information becomes available, additional analyses are performed, and conditions or future expectations change. The adjustments use estimated fair values and are tax effected using an assumed blended effective tax rate for each period.

The combined historical figures include preliminary purchase-price allocation adjustments and exclude projected synergies and certain integration costs.

Available on EDGAR 11/03/2026 - 06:03 AM EST Accepted by SEC EDGAR 11/02/2026 - 06:41 PM EST

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

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Form Type

8-K

Rhea-AI Filing Summary

Allegiant Travel Company provided unaudited pro forma combined financial information for its merger with Sun Country, which it completed on May 13, 2026. The statements present the merger as if it had closed on January 1, 2025, covering six quarters through June 30, 2026, and the year ended December 31, 2025. They also model the September 4, 2025, sale of Sunseeker Resort as if it occurred on January 1, 2025.

Pro forma operating revenue and net income were $3,672.668 million and $47.689 million, respectively, for 2025. For the quarter ended March 31, 2026, pro forma revenue was $1,070.798 million and net income was $79.839 million; for the quarter ended June 30, 2026, revenue was $1,077.194 million and net income was $23.594 million.

The results are for informational purposes and are not necessarily indicative of results actually achieved or future results. Purchase-price allocation adjustments use preliminary fair-value estimates and remain provisional and subject to further adjustment through May 13, 2027. Projected merger synergies and associated costs, as well as certain future integration costs, are excluded.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Pro forma operating revenue: $3,672.668 million Pro forma net income: $47.689 million Pro forma operating revenue: $1,070.798 million +4 more

7 metrics

Pro forma operating revenue $3,672.668 million Year ended December 31, 2025

Pro forma net income $47.689 million Year ended December 31, 2025

Pro forma operating revenue $1,070.798 million Quarter ended March 31, 2026

Pro forma net income $79.839 million Quarter ended March 31, 2026

Pro forma operating revenue $1,077.194 million Quarter ended June 30, 2026

Pro forma net income $23.594 million Quarter ended June 30, 2026

Adjusted EBITDA $641.9 million Year ended December 31, 2025, pro forma

Key Terms

Article 11 of Regulation S-X, transaction accounting adjustments, CASM, Adjusted EBITDA

4 terms

Article 11 of Regulation S-X regulatory

"adjustments prepared in accordance with Article 11 of Regulation S-X"

transaction accounting adjustments financial

"Transaction Accounting Adjustments reflect the preliminary allocation"

CASM financial

"Airline operating CASM excluding fuel, special charges and cargo expenses"

CASM is the average operating cost to carry one available seat one mile on an airline, found by dividing total operating expenses by the number of seats flown multiplied by miles. Think of it like the cost to run one seat on a bus for one mile. Investors watch CASM because it shows how efficiently an airline controls costs and how much margin exists between ticket prices and operating expenses, affecting profitability and competitiveness.

Adjusted EBITDA financial

"Adjusted EBITDA | $ | 641.9"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were ALGT's 2025 pro forma revenue and net income?

Allegiant's unaudited pro forma operating revenue was $3,672.668 million and pro forma net income was $47.689 million for the year ended December 31, 2025. The figures present the merger as if it had closed on January 1, 2025.

What were ALGT's pro forma results for the quarter ended June 30, 2026?

Pro forma operating revenue was $1,077.194 million and pro forma net income was $23.594 million for the quarter ended June 30, 2026. The combined figures include Allegiant and Sun Country, with the merger modeled as if it had closed on January 1, 2025.

How long are ALGT's acquisition-accounting adjustments provisional?

The preliminary purchase-price allocation adjustments are subject to further adjustment through May 13, 2027 as additional information becomes available, additional analyses are performed, and conditions or future expectations change. The adjustments use estimated fair values and are tax effected using an assumed blended effective tax rate for each period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

_____________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 2, 2026

Allegiant Travel Company

(Exact name of registrant as specified in its charter)

Nevada

001-33166

20-4745737

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1201 North Town Center Drive

Las Vegas, NV

89144

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (702) 851-7300

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, par value $0.001

ALGT

NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as in Rule 405 of the Securities Act of 1933 (Section 17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 17 CFR §240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 7 Regulation FD

Item 7.01 Regulation FD

As previously disclosed, on May 13, 2026, Allegiant Travel Company ("the Company") completed its acquisition of Sun Country Airlines Holdings, Inc. The Company is making available certain unaudited pro forma financial information for the three-month periods ended March 31, 2025, June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, and for the year ended December 31, 2025, all reflecting the acquisition on a pro forma basis as if the transaction closed on January 1, 2025. This information is attached as Exhibit 99.1 to this report.

The information in Section 7 of this Current Report on Form 8-K and the Exhibit filed herewith is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. As such, this information shall not be incorporated by reference into any of the Company’s reports or other filings made with the Securities and Exchange Commission.

Section 9 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

a.Not applicable.

b.Not applicable.

c.Not applicable.

d.Exhibits


Exhibit No.			Description of Document

99.1			Unaudited pro forma condensed combined statements of income and unaudited pro forma non-GAAP information for the three month periods ended March 31, 2025, June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, June 30, 2026, and for the year ended December 31, 2025.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, Allegiant Travel Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: November 2, 2026	ALLEGIANT TRAVEL COMPANY



	By:	/s/ Robert Neal
	Name:	Robert Neal
	Title:	President, Chief Financial Officer

Exhibit 99.1

Unaudited Pro Forma Information

The following presents certain unaudited pro forma condensed combined statements of income (loss) for the three month periods ended March 31, 2025, June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026 and June 30, 2026, and for the year ended December 31, 2025, and other unaudited pro forma non-GAAP information for the same periods. The pro forma financial information is based upon the combined historical financial statements of Allegiant Travel Company, ("Allegiant") and Sun Country Airlines Holdings, LLC, (“Sun Country”), after giving effect to Allegiant’s acquisition of all the issued and outstanding shares of Sun Country by means of a merger (the “Merger”). The combined pro forma information includes adjustments prepared in accordance with Article 11 of Regulation S-X to illustrate the effects of the Merger as if it had occurred on January 1, 2025, the beginning of the earliest period presented.

On September 4, 2025, the Company completed the sale of Sunseeker Resort (“Sunseeker”). In addition to the adjustments arising from the Merger described above, the combined pro forma information includes adjustments to illustrate the effects of the sale of Sunseeker Resort as if it had occurred on January 1, 2025, the beginning of the earliest period presented.

Management believes pro forma combined operating results for prior periods are useful for the purpose of comparing our actual or expected future operating results, as it provides a relevant baseline for identifying trends in the overall operating performance of our business. Management also believes the recalculation of certain operating statistics, unit metrics and certain non-GAAP measures on a pro forma basis to be useful in a review of our operating results.

The Sun Country Transaction Accounting Adjustments in the unaudited pro forma condensed combined statements of income (loss) reflect the preliminary allocation of the purchase price to the acquired assets and liabilities based upon estimates of fair values. These adjustments have been tax effected using an assumed blended effective tax rate for each period. These adjustments are provisional and subject to further adjustment through May 13, 2027 as additional information becomes available, additional analyses are performed and as warranted by changes in current conditions and future expectations. Differences between these preliminary estimates and the final acquisition accounting may occur and these differences could have a material impact on the unaudited pro forma condensed combined financial information and the combined company’s future results of operations.

The Sun Country Reclassification Adjustments in the unaudited pro forma condensed combined statements of income (loss) reflect the reclassification of historically reported amounts to conform to Allegiant presentation. Differences from previously filed pro forma information reflects the impact of permissible measurement period adjustments and certain immaterial line item reclassifications to better conform presentation.

The Sunseeker Transaction Accounting Adjustments in the unaudited pro forma condensed combined statements of income (loss) reflect the removal of profit and loss attributable to Sunseeker Resort after the January 1, 2025 (assumed) date of disposition. There were no material impacts to profit and loss on the date of the sale of the Resort.

The unaudited pro forma condensed combined financial information is presented for informational purposes only. Such information is not necessarily indicative of the operating results that actually would have been achieved if the Merger had been consummated on the dates indicated or that the combined company may achieve in future periods. Specifically, the unaudited pro forma condensed combined financial information does not include any projected synergies expected to be achieved as a result of the Merger or any associated costs that may be incurred to achieve any projected synergies. The unaudited pro forma condensed combined financial information also excludes future costs associated with any integration activities that may result from the Merger, to the extent those costs are not included in the post-acquisition periods.

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended March 31, 2025

(in thousands, except statistical information)


	As Reported						Pro Forma
							Sun Country				Sunseeker
	Allegiant			Sun Country			Reclassification Adjustments		Transaction Accounting Adjustments		Transaction Accounting Adjustments		Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	616,750		$	285,888		$	(54,650)	—		$	—	$	847,988
Third party products	35,203			—			3,712		—		—		38,915
Fixed fee contracts	16,252			—			54,692		—		—		70,944
Cargo	—			28,157			—		—		—		28,157
Resort and other	30,869			12,604			(3,754)		—		(30,688)		9,031
Total operating revenues	699,074			326,649			—		—		(30,688)		995,035

OPERATING EXPENSES:
Salaries and benefits	231,439			92,845			(7)		9,104		(11,065)		322,316
Aircraft fuel	166,333			64,619			129		—		—		231,081
Station operations	73,505			—			40,355		(157)		—		113,703
Ground handling	—			11,407			(11,407)		—		—		—
Landing fees and airport rent	—			16,833			(16,833)		—		—		—
Depreciation and amortization	63,312			24,804			—		(1,232)		(3,601)		83,283
Maintenance and repairs	34,854			18,862			527		(4,877)		—		49,366
Sales and marketing	25,096			10,395			403		(44)		(1,726)		34,124
Aircraft lease rentals	5,920			—			—		—		—		5,920
Other	35,168			28,839			(13,167)		(10)		(13,093)		37,737
Special charges, net of recoveries	(1,555)			1,799			—		91,716		2,947		94,907
Total operating expenses	634,072			270,403			—		94,500		(26,538)		972,437

OPERATING INCOME	65,002			56,246			—		(94,500)		(4,150)		22,598

OTHER (INCOME) EXPENSES:
Interest income	(11,935)			(1,995)			—		—		—		(13,930)
Interest expense	40,783			9,625			—		(957)		(11,834)		37,617
Capitalized interest	(6,488)			—			—		—		—		(6,488)
Other, net	702			478			—		—		—		1,180
Total other expenses	23,062			8,108			—		(957)		(11,834)		18,379

INCOME BEFORE INCOME TAXES	41,940			48,138			—		(93,543)		7,684		4,219
INCOME TAX EXPENSE	9,838			11,603			—		(11,226)		1,792		12,007
NET INCOME (LOSS)	$	32,102		$	36,535		$	—	$	(82,317)	$	5,892	$	(7,788)

Total system ASMs (millions)	5,451.6			2,370.8									7,822.4
Scheduled service ASMs (millions)	5,305.2			2,020.5									7,325.7
Scheduled service RPMs (millions)	4,271.3			1,686.5									5,957.8
Load factor	80.5		%	83.5		%							81.3		%
Scheduled service TRASM (cents)	12.29		¢	11.63		¢							12.11		¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended March 31, 2025

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments1		Condensed Combined Pro Forma
Consolidated operating expenses	$	634.1		$	270.4		$	94.5	$	999.0
Minus: Sunseeker operating expenses1	26.5			—			—		26.5
Airline operating expenses	607.6			270.4			94.5		972.5
Minus: airline special charges	1.4			1.8			91.7		94.9
Minus: fuel expenses	166.3			64.6			0.1		231.0
Minus: cargo expenses, not already included in reductions above	—			26.3			—		26.3
Airline operating expenses, excluding fuel, special charges and cargo expenses	$	439.9		$	177.7		$	2.7	$	620.3
System available seat miles	5,451.6			2,370.8					7,822.4
Airline cost per available seat mile (cents)	11.14		¢	11.41		¢			12.43		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.07		¢	7.50		¢			7.93		¢

Adjusted net income
Net income as reported	$	32.1		$	36.5		$	(76.4)	$	(7.8)
Loss on extinguishment of debt	3.4			0.2			(3.4)		0.2
Special charges, net of recoveries	(1.6)			1.8			94.7		94.9
Income tax effect of adjustments above	(0.5)			(0.5)			(10.9)		(11.9)
Adjusted net income	$	33.4		$	38.0		$	4.0	$	75.4

Adjusted pretax income
Income before tax as reported	$	41.9		$	48.1		$	(85.8)	$	4.2
Loss on extinguishment of debt	3.4			0.2			(3.4)		0.2
Special charges, net of recoveries	(1.6)			1.8			94.7		94.9
Adjusted pretax income	$	43.8		$	50.1		$	5.5	$	99.3

Adjusted operating income
Operating income as reported	$	65.0		$	56.2		$	(98.6)	$	22.6
Special charges, net of recoveries	(1.6)			1.8			94.7		94.9
Adjusted operating income	$	63.4		$	58.0		$	(3.9)	$	117.5

Adjusted EBITDA
Net income as reported	$	32.1		$	36.5		$	(76.4)	$	(7.8)
Income taxes	9.8			11.6			(9.4)		12.0
Interest expense, net	22.4			7.6			(12.8)		17.2
Depreciation & amortization	63.3			24.8			(4.8)		83.3
Special charges, net of recoveries	(1.6)			1.8			94.7		94.9
Adjusted EBITDA	$	126.0		$	82.3		$	(8.7)	$	199.6

1For CASM only, pro forma adjustments to exclude Sunseeker Resort items are reflected in the Allegiant column to provide an Allegiant airline-only adjusted CASM figure, and are accordingly excluded from the pro forma adjustments column. For the remaining reconciliation tables on this page, pro forma adjustments related to Sunseeker Resort are included in the pro forma adjustments column.

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended June 30, 2025

(in thousands, except statistical information)


	As Reported				Pro Forma
					Sun Country			Sunseeker
	Allegiant		Sun Country		Reclassification Adjustments		Transaction Accounting Adjustments	Transaction Accounting Adjustments	Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	617,908	$	214,668	$	(54,104)	—	—	$	778,472
Third party products	33,649		—		2,818		—	—	36,467
Fixed fee contracts	17,019		—		54,271		—	—	71,290
Cargo	—		34,803		—		—	—	34,803
Resort and other	20,808		14,150		(2,985)		—	(20,634)	11,339
Total operating revenues	689,384		263,621		—		—	(20,634)	932,371

OPERATING EXPENSES:
Salaries and benefits	214,102		89,557		(7)		(389)	(10,617)	292,646
Aircraft fuel	165,752		50,536		67		—	—	216,355
Station operations	75,248		—		35,768		(144)	—	110,872
Ground handling	—		11,353		(11,353)		—	—	—
Landing fees and airport rent	—		14,971		(14,971)		—	—	—
Depreciation and amortization	68,519		24,972		—		(966)	(3,558)	88,967
Maintenance and repairs	36,379		18,250		680		(4,077)	—	51,232
Sales and marketing	26,837		8,001		415		(43)	(1,718)	33,492
Aircraft lease rentals	11,023		—		—		—	—	11,023
Other	41,089		29,670		(10,599)		(9)	(12,058)	48,093
Special charges, net of recoveries	117,924		49		—		355	(103,329)	14,999
Total operating expenses	756,873		247,359		—		(5,273)	(131,280)	867,679

OPERATING INCOME (LOSS)	(67,489)		16,262		—		5,273	110,646	64,692

OTHER (INCOME) EXPENSES:
Interest income	(10,359)		(1,513)		—		—	—	(11,872)
Interest expense	35,756		9,212		—		(164)	(7,635)	37,169
Capitalized interest	(4,562)		—		—		—	—	(4,562)
Other, net	240		7		—		—	—	247
Total other expenses	21,075		7,706		—		(164)	(7,635)	20,982

INCOME (LOSS) BEFORE INCOME TAXES	(88,564)		8,556		—		5,437	118,281	43,710
INCOME TAX EXPENSE (BENEFIT)	(23,398)		1,979		—		652	25,501	4,734
NET INCOME (LOSS)	(65,166)		6,577		—		4,785	92,780	38,976

Total system ASMs (millions)	5,799.4		1,933.9						7,733.3
Scheduled service ASMs (millions)	5,629.0		1,571.2						7,200.3
Scheduled service RPMs (millions)	4,610.3		1,285.9						5,896.2
Load factor	81.9%		81.8%						81.9%
Scheduled service TRASM (cents)	11.57 ¢		10.40 ¢						11.32 ¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended June 30, 2025

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments1		Condensed Combined Pro Forma
Consolidated operating expenses	$	756.9		$	247.4		$	(5.3)	$	999.0
Minus: Sunseeker operating expenses1	131.3			—			—		131.3
Airline operating expenses	625.6			247.4			(5.3)		867.7
Minus: airline special charges	14.6			—			0.4		15.0
Minus: fuel expenses	165.8			50.5			—		216.3
Minus: cargo expenses, not already included in reductions above	—			32.1			—		32.1
Airline operating expenses, excluding fuel, special charges and cargo expenses	$	445.2		$	164.8		$	(5.7)	$	604.3
System available seat miles	5,799.4			1,933.9					7,733.3
Airline cost per available seat mile (cents)	10.79		¢	12.79		¢			11.22		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	7.68		¢	8.52		¢			7.81		¢

Adjusted net income
Net income (loss) as reported	$	(65.2)		$	6.6		$	97.6	$	39.0

Special charges, net of recoveries	117.9			—			(103.0)		14.9
Income tax effect of adjustments above	(30.0)			—			23.7		(6.3)
Adjusted net income	$	22.7		$	6.6		$	18.3	$	47.6

Adjusted pretax income
Income (loss) before tax as reported	$	(88.6)		$	8.6		$	123.7	$	43.7
Loss on extinguishment of debt	—			—			—		—
Special charges, net of recoveries	117.9			—			(103.0)		14.9
Adjusted pretax income	$	29.3		$	8.6		$	20.7	$	58.6

Adjusted operating income
Operating income (loss) as reported	$	(67.5)		$	16.3		$	115.9	$	64.7
Special charges, net of recoveries	117.9			—			(103.0)		14.9
Adjusted operating income	$	50.4		$	16.3		$	12.9	$	79.6

Adjusted EBITDA
Net income (loss) as reported	$	(65.2)		$	6.6		$	97.6	$	39.0
Income taxes	(23.4)			2.0			26.1		4.7
Interest expense, net	20.8			7.7			(7.8)		20.7
Depreciation & amortization	68.5			25.0			(4.5)		89.0
Special charges, net of recoveries	117.9			—			(102.9)		15.0
Adjusted EBITDA	$	118.6		$	41.3		$	8.5	$	168.4

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended September 30, 2025

(in thousands, except statistical information)


	As Reported						Pro Forma
							Sun Country			Sunseeker
	Allegiant			Sun Country			Reclassification Adjustments		Transaction Accounting Adjustments	Transaction Accounting Adjustments		Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	494,144		$	201,098		$	(58,392)	—	$	—	$	636,850
Third party products	39,397			—			2,819		—	—		42,216
Fixed fee contracts	18,852			—			58,673		—	—		77,525
Cargo	—			44,023			—		—	—		44,023
Resort and other	9,539			10,417			(3,100)		—	(9,358)		7,498
Total operating revenues	561,932			255,538			—		—	(9,358)		808,112

OPERATING EXPENSES:
Salaries and benefits	196,394			93,093			(7)		(756)	(5,903)		282,821
Aircraft fuel	151,254			48,583			35		—	—		199,872
Station operations	71,390			—			37,437		(130)	—		108,697
Ground handling	—			11,467			(11,467)		—	—		—
Landing fees and airport rent	—			16,811			(16,811)		—	—		—
Depreciation and amortization	58,952			24,683			—		(1,063)	—		82,572
Maintenance and repairs	39,908			18,123			623		(2,971)	—		55,683
Sales and marketing	23,040			6,982			713		(38)	(947)		29,750
Aircraft lease rentals	11,096			—			—		—	—		11,096
Other	33,615			25,868			(10,523)		(8)	(8,931)		40,021
Special charges, net of recoveries	3,473			26			—		343	(566)		3,276
Total operating expenses	589,122			245,636			—		(4,623)	(16,347)		813,788

OPERATING INCOME (LOSS)	(27,190)			9,902			—		4,623	6,989		(5,676)

OTHER (INCOME) EXPENSES:
Interest income	(10,108)			(1,452)			—		—	—		(11,560)
Interest expense	38,116			9,185			—		(1,024)	(3,996)		42,281
Capitalized interest	(3,166)			—			—		—	—		(3,166)
Other, net	122			3			—		—	—		125
Total other expenses	24,964			7,736			—		(1,024)	(3,996)		27,680

INCOME (LOSS) BEFORE INCOME TAXES	(52,154)			2,166			—		5,647	10,985		(33,356)
INCOME TAX EXPENSE (BENEFIT)	(8,580)			614			—		678	4,574		(2,714)
NET INCOME (LOSS)	(43,574)			1,552			—		4,969	6,411		(30,642)

Total system ASMs (millions)	4,939.4			1,770.6								6,710.0
Scheduled service ASMs (millions)	4,769.2			1,374.5								6,143.7
Scheduled service RPMs (millions)	4,022.8			1,165.2								5,188.0
Load factor	84.3		%	84.8		%						84.4		%
Scheduled service TRASM (cents)	11.19		¢	10.59		¢						11.05		¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended September 30, 2025

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments1		Condensed Combined Pro Forma
Consolidated operating expenses	$	589.1		$	245.6		$	(4.6)	$	830.1
Minus: Sunseeker operating expenses1	16.3			—			—		16.3
Airline operating expenses	572.8			245.6			(4.6)		813.8
Minus: airline special charges	2.9			—			0.3		3.2
Minus: fuel expenses	151.3			48.6			—		199.9
Minus: cargo expenses, not already included in reductions above	—			43.2			—		43.2
Airline operating expenses, excluding fuel, special charges and cargo expenses	$	418.6		$	153.8		$	(4.9)	$	567.5
System available seat miles	4,939.4			1,770.6					6,710.0
Airline cost per available seat mile (cents)	11.60		¢	13.87		¢			12.13		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.47		¢	8.69		¢			8.46		¢

Adjusted net income (loss)
Net income (loss) as reported	$	(43.6)		$	1.6		$	11.4	$	(30.6)
Loss on extinguishment of debt	1.1			0.4			—		1.5
Special charges, net of recoveries	3.5			—			(0.2)		3.3
Income tax effect of adjustments above	(1.1)			(0.1)			—		(1.2)
Adjusted net income (loss)	$	(40.0)		$	1.9		$	11.2	$	(27.0)

Adjusted pretax income (loss)
Income (loss) before tax as reported	$	(52.2)		$	2.2		$	16.6	$	(33.4)
Loss on extinguishment of debt	1.1			0.4			—		1.5
Special charges, net of recoveries	3.5			—			(0.2)		3.3
Adjusted pretax income (loss)	$	(47.6)		$	2.6		$	16.4	$	(28.6)

Adjusted operating income (loss)
Operating income (loss)	$	(27.2)		$	9.9		$	11.6	$	(5.7)
Special charges, net of recoveries	3.5			—			(0.2)		3.3
Adjusted operating income (loss)	$	(23.7)		$	9.9		$	11.4	$	(2.4)

Adjusted EBITDA
Net income (loss) as reported	$	(43.6)		$	1.6		$	11.4	$	(30.6)
Income taxes	(8.6)			0.6			5.3		(2.7)
Interest expense, net	24.8			7.7			(5.0)		27.5
Depreciation & amortization	59.0			24.7			(1.1)		82.6
Special charges, net of recoveries	3.5			—			(0.2)		3.3
Adjusted EBITDA	$	35.1		$	34.6		$	10.4	$	80.1

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended December 31, 2025

(in thousands, except statistical information)


	As Reported						Pro Forma
							Sun Country			Sunseeker
	Allegiant			Sun Country			Reclassification Adjustments		Transaction Accounting Adjustments	Transaction Accounting Adjustments	Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	595,545		$	221,475		$	(56,315)	—	—	$	760,705
Third party products	34,939			—			2,610		—	—	37,549
Fixed fee contracts	25,524			—			56,591		—	—	82,115
Cargo	—			48,045			—		—	—	48,045
Resort and other	180			11,441			(2,886)		—	—	8,735
Total operating revenues	656,188			280,961			—		—	—	937,149

OPERATING EXPENSES:
Salaries and benefits	191,083			97,101			(8)		(789)	—	287,387
Aircraft fuel	156,391			49,742			29		—	—	206,162
Station operations	77,406			—			36,632		(73)	—	113,965
Ground handling	—			10,474			(10,474)		—	—	—
Landing fees and airport rent	—			16,146			(16,146)		—	—	—
Depreciation and amortization	58,403			24,419			—		(138)	—	82,684
Maintenance and repairs	38,797			25,114			560		(7,253)	—	57,218
Sales and marketing	24,469			7,923			462		(22)	—	32,832
Aircraft lease rentals	8,450			—			—		—	—	8,450
Other	16,484			31,867			(11,055)		(5)	—	37,291
Special charges, net of recoveries	17,862			12			—		(3,837)	6,782	20,819
Total operating expenses	589,345			262,798			—		(12,117)	6,782	846,808

OPERATING INCOME	66,843			18,163			—		12,117	(6,782)	90,341

OTHER (INCOME) EXPENSES:
Interest income	(9,295)			(2,013)			—		—	—	(11,308)
Interest expense	35,579			8,838			—		(996)	—	43,421
Capitalized interest	(3,388)			—			—		—	—	(3,388)
Other, net	43			(15)			—		—	—	28
Total other expenses	22,939			6,810			—		(996)	—	28,753

INCOME BEFORE INCOME TAXES	43,904			11,353			—		13,113	(6,782)	61,588
INCOME TAX EXPENSE	11,963			3,207			—		1,574	(2,300)	14,444
NET INCOME	31,941			8,146			—		11,539	(4,482)	47,144

Total system ASMs (millions)	5,179.1			1,848.7							7,027.8
Scheduled service ASMs (millions)	4,976.4			1,450.6							6,427.0
Scheduled service RPMs (millions)	4,043.2			1,224.9							5,268.1
Load factor	81.2		%	84.4		%					82.0		%
Scheduled service TRASM (cents)	12.67		¢	11.57		¢					12.42		¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended December 31, 2025

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges, and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments1		Condensed Combined Pro Forma
Consolidated operating expenses	$	589.3		$	262.8		$	(12.1)	$	840.0
Minus: Sunseeker operating expenses1	(6.8)			—			—		(6.8)
Airline-only operating expenses	596.1			262.8			(12.1)		846.8
Minus: airline special charges	24.6			—			(3.8)		20.8
Minus: fuel expenses	156.4			49.8			—		206.2
Minus: cargo expenses, not already included in reductions above	—			47.9			—		47.9
Airline operating expenses, excluding fuel, special charges, and cargo expenses	$	415.1		$	165.1		$	(8.3)	$	571.9
System available seat miles	5,179.1			1,848.7					7,027.8
Airline cost per available seat mile (cents)	11.51		¢	14.22		¢			12.05		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.01		¢	8.93		¢			8.14		¢

Adjusted net income
Net income as reported	$	31.9		$	8.1		$	7.1	$	47.1
Loss on extinguishment of debt	3.4			—			—		3.4
Special charges, net of recoveries	17.9			—			2.9		20.8
Income tax effect of adjustments above	1.0			—			(1.1)		(0.1)
Adjusted net income	$	54.2		$	8.1		$	8.9	$	71.2

Adjusted pretax income
Income before tax as reported	$	43.9		$	11.3		$	6.4	$	61.6
Loss on extinguishment of debt	3.4			—			—		3.4
Special charges, net of recoveries	17.9			—			2.9		20.8
Adjusted pretax income	$	65.2		$	11.3		$	9.3	$	85.8

Adjusted operating income
Operating income as reported	$	66.8		$	18.2		$	5.3	$	90.3
Special charges, net of recoveries	17.9			—			2.9		20.8
Adjusted operating income	$	84.7		$	18.2		$	8.2	$	111.1

Adjusted EBITDA
Net income as reported	$	31.9		$	8.1		$	7.1	$	47.1
Income taxes	12.0			3.2			(0.8)		14.4
Interest expense, net	22.9			6.8			(1.0)		28.7
Depreciation & amortization	58.4			24.4			(0.1)		82.7
Special charges, net of recoveries	17.9			—			2.9		20.8
Adjusted EBITDA	$	143.1		$	42.5		$	8.1	$	193.7

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Twelve Months Ended December 31, 2025

(in thousands, except statistical information)


	As Reported						Pro Forma
							Sun Country			Sunseeker
	Allegiant			Sun Country			Reclassification Adjustments		Transaction Accounting Adjustments	Transaction Accounting Adjustments	Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	2,324,348		$	923,129		$	(223,461)	—	—	$	3,024,016
Third party products	143,188			—			11,959		—	—	155,147
Fixed fee contracts	77,647			—			224,227		—	—	301,874
Cargo	—			155,027			—		—	—	155,027
Resort and other	61,396			48,613			(12,725)		—	(60,680)	36,604
Total operating revenues	2,606,579			1,126,769			—		—	(60,680)	3,672,668

OPERATING EXPENSES:
Salaries and benefits	833,017			372,597			(29)		7,170	(27,585)	1,185,170
Aircraft fuel	639,731			213,480			260		—	—	853,471
Station operations	297,549			—			150,192		(504)	—	447,237
Ground handling	—			44,701			(44,701)		—	—	—
Landing fees and airport rent	—			64,761			(64,761)		—	—	—
Depreciation and amortization	249,185			98,878			—		(3,399)	(7,159)	337,505
Maintenance and repairs	149,938			80,349			2,390		(19,178)	—	213,499
Sales and marketing	99,443			33,300			1,993		(147)	(4,390)	130,199
Aircraft lease rentals	36,488			—			—		—	—	36,488
Other	126,356			116,244			(45,344)		(32)	(34,083)	163,141
Special charges, net of recoveries	137,705			1,886			—		88,577	(94,166)	134,002
Total operating expenses	2,569,412			1,026,196			—		72,487	(167,383)	3,500,712

OPERATING INCOME	37,167			100,573			—		(72,487)	106,703	171,956

OTHER (INCOME) EXPENSES:
Interest income	(41,697)			(6,973)			—		—	—	(48,670)
Interest expense	150,235			36,861			—		(3,141)	(23,466)	160,489
Capitalized interest	(17,604)			—			—		—	—	(17,604)
Other, net	1,107			474			—		—	—	1,581
Total other expenses	92,041			30,362			—		(3,141)	(23,466)	95,796

INCOME (LOSS) BEFORE INCOME TAXES	(54,874)			70,211			—		(69,346)	130,169	76,160
INCOME TAX EXPENSE (BENEFIT)	(10,177)			17,402			—		(8,322)	29,568	28,471
NET INCOME (LOSS)	(44,697)			52,809			—		(61,024)	100,601	47,689

Total system ASMs (millions)	21,369.5			7,923.9							29,293.4
Scheduled service ASMs (millions)	20,679.9			6,416.8							27,096.7
Scheduled service RPMs (millions)	16,947.7			5,362.5							22,310.2
Load factor	82.0		%	83.6		%					82.3		%
Scheduled service TRASM (cents)	11.93		¢	11.09		¢					11.73		¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Twelve Months Ended December 31, 2025

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments1		Condensed Combined Pro Forma
Consolidated operating expenses	$	2,569.4		$	1,026.2		$	72.5	$	3,668.1
Minus: Sunseeker operating expenses1	167.3			—			—		167.3
Airline-only operating expenses	2,402.1			1,026.2			72.5		3,500.8
Minus: airline special charges	43.5			1.9			88.6		134.0
Minus: fuel expenses	639.7			213.5			0.2		853.4
Minus: cargo expenses, not already included in reductions above	—			149.5			—		149.5
Airline operating expenses, excluding fuel, special charges and cargo expenses	$	1,718.9		$	661.4		$	(16.3)	$	2,364.0
System available seat miles	21,369.5			7,923.9					29,293.4
Airline cost per available seat mile (cents)	11.24		¢	12.95		¢			11.95		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.04		¢	8.35		¢			8.07		¢

Adjusted net income
Net income (loss) as reported	$	(44.7)		$	52.8		$	39.6	$	47.7
Loss on extinguishment of debt	7.9			0.4			(3.4)		4.9
Special charges, net of recoveries	137.7			1.9			(5.6)		134.0
Income tax effect of adjustments above	(30.6)			(0.5)			11.7		(19.4)
Adjusted net income	$	70.3		$	54.6		$	42.3	$	167.2

Adjusted pretax income
Income (loss) before tax as reported	$	(54.9)		$	70.2		$	60.9	$	76.2
Loss on extinguishment of debt	7.9			0.4			(3.4)		4.9
Special charges, net of recoveries	137.7			1.9			(5.6)		134.0
Adjusted pretax income	$	90.7		$	72.5		$	51.9	$	215.1

Adjusted operating income
Operating income as reported	$	37.2		$	100.6		$	34.1	$	171.9
Special charges, net of recoveries	137.7			1.9			(5.6)		134.0
Adjusted operating income	$	174.9		$	102.5		$	28.5	$	305.9

Adjusted EBITDA
Net income (loss) as reported	$	(44.7)		$	52.8		$	39.6	$	47.7
Income taxes	(10.2)			17.4			21.3		28.5
Interest expense, net	91.0			29.9			(26.7)		94.2
Depreciation & amortization	249.2			98.9			(10.6)		337.5
Special charges, net of recoveries	137.7			1.9			(5.6)		134.0
Adjusted EBITDA	$	423.0		$	200.9		$	18.0	$	641.9

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended March 31, 2026

(in thousands, except statistical information)



	As Reported						Pro Forma
	Allegiant			Sun Country			Reclassification Adjustments		Transaction Accounting Adjustments		Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	671,799		$	285,259		$	(57,245)	—		$	899,813
Third party products	42,335			—			3,496		—		45,831
Fixed fee contracts	18,123			—			57,245		—		75,368
Cargo	—			46,089			—		—		46,089
Resort and other	175			7,018			(3,496)		—		3,697
Total operating revenues	732,432			338,366			—		—		1,070,798

OPERATING EXPENSES:
Salaries and benefits	218,085			104,191			(8)		(1,072)		321,196
Aircraft fuel	180,241			72,901			55		—		253,197
Station operations	76,482			—			39,659		(94)		116,047
Ground handling	—			10,461			(10,461)		—		—
Landing fees and airport rent	—			17,722			(17,722)		—		—
Depreciation and amortization	57,926			25,157			—		(130)		82,953
Maintenance and repairs	35,216			20,423			695		(3,609)		52,725
Sales and marketing	28,201			10,092			417		(28)		38,682
Aircraft lease rentals	7,461			—			—		—		7,461
Other	19,934			30,743			(12,635)		(6)		38,036
Special charges, net of recoveries	27,782			9,799			—		(9,275)		28,306
Total operating expenses	651,328			301,489			—		(14,214)		938,603

OPERATING INCOME	81,104			36,877			—		14,214		132,195

OTHER (INCOME) EXPENSES:
Interest income	(8,714)			(2,235)			—		—		(10,949)
Interest expense	29,227			8,851			—		(849)		37,229
Capitalized interest	(4,291)			—			—		—		(4,291)
Other, net	(1,142)			(2)			—		—		(1,144)
Total other expenses	15,080			6,614			—		(849)		20,845

INCOME BEFORE INCOME TAXES	66,024			30,263			—		15,063		111,350
INCOME TAX EXPENSE	23,546			6,157			—		1,808		31,511
NET INCOME	$	42,478		$	24,106		$	—	$	13,255	$	79,839

Total System ASMs (millions)	5,130.5			2,112.9							7,243.4
Scheduled service ASMs (millions)	4,991.6			1,755.8							6,747.4
Scheduled Service RPMs (millions)	4,210.9			1,501.2							5,712.1
Load Factor	84.4		%	85.5		%					84.7		%
Scheduled service TRASM (cents)	14.31		¢	13.19		¢					14.02		¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended March 31, 2026

(in millions, except per ASM amounts)


	As Reported						Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments		Condensed Combined Pro Forma
Consolidated operating expenses	$	651.3		$	301.5		$	(14.2)	$	938.6
Minus: airline special charges	27.8			9.8			(9.3)		28.3
Minus: fuel expenses	180.2			72.9			—		253.1
Minus: cargo expenses, not already included in reductions above	—			47.7			—		47.7
Airline operating expenses, excluding fuel, special charges, and cargo expenses	$	443.3		$	171.1		$	(4.9)	$	609.5
System available seat miles	5,130.5			2,112.9					7,243.4
Airline cost per available seat mile (cents)	12.69		¢	14.27		¢			12.96		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.64		¢	8.10		¢			8.41		¢

Adjusted net income
Net income as reported	$	42.5		$	24.1		$	13.2	$	79.8
Special charges, net of recoveries	27.8			9.8			(9.3)		28.3
Income tax effect of adjustments above	(0.7)			(2.3)			1.1		(1.9)
Adjusted net income	$	69.6		$	31.6		$	5.0	$	106.2

Adjusted pretax income
Income before tax as reported	$	66.0		$	30.3		$	15.1	$	111.4
Special charges, net of recoveries	27.8			9.8			(9.3)		28.3
Adjusted pretax income	$	93.8		$	40.1		$	5.8	$	139.7

Adjusted operating income
Operating income	$	81.1		$	36.9		$	14.2	$	132.2
Special charges, net of recoveries	27.8			9.8			(9.3)		28.3
Adjusted operating income	$	108.9		$	46.7		$	4.9	$	160.5

Adjusted EBITDA
Net income/(loss) as reported	$	42.5		$	24.1		$	13.2	$	79.8
Income taxes	23.5			6.2			1.8		31.5
Interest expense, net	16.2			6.6			(0.8)		22.0
Depreciation & amortization	57.9			25.2			(0.1)		83.0
Special charges, net of recoveries	27.8			9.8			(9.3)		28.3
Adjusted EBITDA	$	167.9		$	71.9		$	4.8	$	244.6

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME (LOSS)

Three Months Ended June 30, 2026

(in thousands, except statistical information)


			April 1 to
	As Reported		May 12, 2026		Pro Forma
	Allegiant		Sun Country		Reclassification Adjustments		Transaction Accounting Adjustments	Condensed Combined Pro Forma
OPERATING REVENUES:
Passenger	$	822,491	$	108,282	$	(34,519)	—	$	896,254
Third party products	45,758		—		979		—	46,737
Fixed fee contracts	45,723		—		34,519		—	80,242
Cargo	27,586		23,035		—		—	50,621
Resort and other	1,932		2,387		(979)		—	3,340
Total operating revenues	943,490		133,704		—		—	1,077,194

OPERATING EXPENSES:
Salaries and benefits	250,318		47,083		(3)		(1,592)	295,806
Aircraft fuel	307,669		40,835		45		—	348,549
Station operations	95,551		—		18,274		50	113,875
Ground handling	—		5,575		(5,575)		—	—
Landing fees and airport rent	—		7,403		(7,403)		—	—
Depreciation and amortization	70,709		12,159		—		(592)	82,276
Maintenance and repairs	49,252		9,773		279		(2,289)	57,015
Sales and marketing	35,194		3,908		222		17	39,341
Aircraft lease rentals	7,015		—		—		—	7,015
Other	40,716		15,513		(5,839)		(10)	50,380
Special charges, net of recoveries	65,952		24,812		—		(54,673)	36,091
Total operating expenses	922,376		167,061		—		(59,089)	1,030,348

OPERATING INCOME	21,114		(33,357)		—		59,089	46,846

OTHER (INCOME) EXPENSES:
Interest income	(8,840)		(811)		—		—	(9,651)
Interest expense	40,072		4,147		—		(673)	43,546
Capitalized interest	(4,937)		—		—		—	(4,937)
Other, net	39		(6,647)		—		—	(6,608)
Total other expenses	26,334		(3,311)		—		(673)	22,350

INCOME (LOSS) BEFORE INCOME TAXES	(5,220)		(30,046)		—		59,762	24,496
INCOME TAX EXPENSE (BENEFIT)	(360)		(5,909)		—		7,171	902
NET INCOME (LOSS)	(4,860)		(24,137)		—		52,591	23,594

Total System ASMs (millions)	6,406.3		817.1					7,223.4
Scheduled service ASMs (millions)	6,097.1		616.6					6,713.7
Scheduled Service RPMs (millions)	5,226.1		496.5					5,722.6
Load Factor	85.7%		80.5%					85.2%
Scheduled service TRASM (cents)	14.24 ¢		12.12 ¢					14.05 ¢

ALLEGIANT TRAVEL COMPANY

UNAUDITED PRO FORMA NON-GAAP INFORMATION

Three Months Ended June 30, 2026

(in millions, except per ASM amounts)


	As Reported			April 1 to May 12, 2026			Pro Forma
Airline operating CASM excluding fuel, special charges and cargo expenses	Allegiant			Sun Country			Pro Forma Adjustments		Condensed Combined Pro Forma
Total operating expenses	$	922.4		$	167.0		$	(59.1)	$	1,030.3
Minus: airline special charges	66.0			24.8			(54.7)		36.1
Minus: fuel expenses	307.7			40.8			—		348.5
Minus: cargo expenses, not already included in reductions above	24.1			23.6			—		47.7
Airline operating expenses, excluding fuel, special charges and cargo expenses	$	524.6		$	77.8		$	(4.4)	$	598.0
System available seat miles	6,406.3			817.1					7,223.4
Airline cost per available seat mile (cents)	14.40		¢	20.44		¢			14.26		¢
Airline cost per available seat mile excluding fuel, special charges and cargo expenses (cents)	8.19		¢	9.52		¢			8.28		¢

Adjusted net income
Net income (loss) as reported	$	(4.9)		$	(24.1)		$	52.6	$	23.6
Loss on extinguishment of debt	3.7			—			—		3.7
Special charges, net of recoveries	66.0			24.8			(54.7)		36.1
Income tax effect of adjustments above	(13.8)			(3.0)			6.6		(10.2)
Adjusted net income	$	51.1		$	(2.2)		$	4.6	$	53.3

Adjusted pretax income
Income (loss) before tax as reported	$	(5.2)		$	(30.0)		$	59.8	$	24.5
Loss on extinguishment of debt	3.7			—			—		3.7
Special charges, net of recoveries	66.0			24.8			(54.7)		36.1
Adjusted pretax income	$	64.5		$	(5.2)		$	5.1	$	64.3

Adjusted operating income
Operating income	$	21.1		$	(33.4)		$	59.1	$	46.8
Special charges, net of recoveries	66.0			24.8			(54.7)		36.1
Adjusted operating income	$	87.1		$	(8.6)		$	4.4	$	82.9

Adjusted EBITDA
Net income (loss) as reported	$	(4.9)		$	(24.1)		$	52.6	$	23.6
Income taxes	(0.4)			(5.9)			7.2		0.9
Interest expense, net	26.3			3.4			(0.7)		29.0
Depreciation & amortization	70.7			12.2			(0.6)		82.3
Special charges, net of recoveries	66.0			24.8			(54.7)		36.1
Adjusted EBITDA	$	157.7		$	10.4		$	3.8	$	171.9

Source: View Original Filing on SEC EDGAR

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