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EBITDAP |
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8%, and the EBITDAP (EBITDA adjusted for non-cash pension expense) margin was up 100 bps to 10. With non-cash pension expense higher than EBITDA, ratios utilizing EBITDAP were far better than those using EBITDA, but were still weak, and were as follows: debt/EBITDAP of 5. Adjusting for pension expense, GD's leverage, as defined by debt-to-operating EBITDAP was 1. |
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