1
EXHIBIT 99.01
St. Joe Corporation
Supplemental Calculation of Selected Consolidated Financial Data
The following table calculates EBDDT (Gross), EBDDT (Net) and EBITDA (Gross)
and EBITDA (Net) as set forth in Note (9) to Item 6. Selected Consolidated
Financial Data.
1997 1996 1995 1994 1993
---- ---- ---- ---- ----
Net income 35,453 176,022 73,819 42,109 32,643
Plus:
Depreciation and amortization 32,527 28,758 28,551 27,612 26,216
Deferred taxes 11,898 52,829 18,757 6,754 16,674
(Income) loss from discontinued operations -- 4,528 (44,461) (4,253) 14,600
Less:
Gain on sale of discontinued operations -- (88,641) -- -- --
Gain on condemnation sales -- (97,391) -- -- --
Cumulative effect of accounting -- -- -- -- --
adjustment -- -- -- -- 20,518)
Gain on sales of other assets (4,417) (3,423) (2,674) (13,895) (1,146)
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EBDDT - Gross 75,460 72,682 73,992 58,327 68,469
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Less 46% minority interest of FECI
Depreciation (11,085) (10,813) (10,254) (10,004) (9,354)
Deferred taxes (47) (70) (1,328) (3,255) (2,601)
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EBDDT - Net 64,328 61,799 62,410 45,068 56,514
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Income from continuing operations
before income taxes and minority
interest 94,374 189,028 66,087 85,129 67,294
Add back:
Depreciation and amortization 32,527 28,758 28,551 27,612 26,216
Interest expense 389 600 2,235 1,982 1,644
Less:
Gain on sales of other assets (4,417) (3,423) (2,674) (13,895) (1,146)
Condemnation sales (97,391)
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EBITDA - Gross 122,872 117,572 94,199 100,828 94,008
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Less 46% minority interest of FECI
Income before income taxes (28,960) (22,134) (19,574) (25,609) (17,591)
Depreciation and amortization (11,085) (10,813) (10,254) (10,004) (9,354)
Interest expense (179) (276) (1,028) (912) (756)
Gain on sales of other assets 795 1,346 589 1,857 246
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EBITDA - Net 83,443 85,695 63,931 66,161 66,553
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