Financial Highlights

Resilient and diversified business model

Almost three decades of compounded annual growth driven primarily by organic growth

		Year Ended December 31
(US$ thousands, except per share amounts)	2022	2021	2020	2019	2018
Operations
Revenues	3,745,835	3,249,072	2,772,415	2,407,410	1,931,473
Operating earnings (loss)	219,026	201,642	169,412	(174,419)	127,568
Net earnings (loss)	145,007	156,130	109,590	(227,631)	90,280
Financial position
Total assets	2,774,514	2,509,023	2,196,540	1,955,469	1,007,474
Long-term debt	734,463	652,804	589,604	766,623	334,523
Redeemable non-controlling interests	233,429	219,135	193,034	174,662	151,585
Shareholders' equity	907,466	799,722	660,398	425,887	236,226
Common share data
Net earnings (loss) per common share:
Basic	2.74	3.08	2.04	(6.58)	1.83
Diluted	2.72	3.05	2.02	(6.58)	1.80
Weighted average common shares outstanding (thousands)
Basic	44,175	43,841	42,756	38,225	35,952
Diluted	44,494	44,401	43,184	38,662	36,571
Cash dividends per common share	0.81	0.73	0.66	0.60	0.54
Other data
Adjusted EBITDA	351,732	327,376	283,722	235,182	190,611
Adjusted EPS	4.24	4.57	3.46	3.00	2.61
Notes Adjusted EBITDA is defined as net earnings before income tax, interest, depreciation, amortization, other (income) expense, acquisition-related items, and stock-based compensation expense. Adjusted earnings per share is defined as diluted net earnings per common share, adjusted for the effect, after income tax, of the non-controlling interest redemption increment, amortization, acquisition-related items, and stock-based compensation expense.