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)	2021	2020	2019	2018	2017
Operations
Revenues	3,249,072	2,772,415	2,407,410	1,931,473	1,729,031
Operating earnings (loss)	201,642	169,412	(174,419)	127,568	104,962
Net earnings (loss)	156,130	109,590	(227,631)	90,280	75,047
Financial position
Total assets	2,509,023	2,196,540	1,955,469	1,007,474	848,266
Long-term debt	652,804	589,604	766,623	334,523	269,625
Redeemable non-controlling interests	219,135	193,034	174,662	151,585	117,708
Shareholders' equity	799,722	660,398	425,887	236,226	192,286
Common share data
Net earnings (loss) per common share:
Basic	3.08	2.04	(6.58)	1.83	1.43
Diluted	3.05	2.02	(6.58)	1.80	1.41
Weighted average common shares outstanding (thousands)
Basic	43,841	42,756	38,225	35,952	35,909
Diluted	44,401	43,184	38,662	36,571	36,559
Cash dividends per common share	0.73	0.66	0.60	0.54	0.49
Other data
Adjusted EBITDA	327,376	283,722	235,182	190,611	159,312
Adjusted EPS	4.57	3.46	3.00	2.61	1.99
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.