Earnings Before Interest After Taxes - EBIAT

EBIAT? Sounds like the name of a sledrunner dog in the Iditarod.

Why would you even track this number? Well, it's EBITDA. Yes, see: EBITDA.

But EBITDA includes depreciation and amortization (and comes before taxes). It takes into account the very tax-deductible flavor of bond interest. If the company doesn't have huge capital expenditures, or big contract amortization expenses, they're not all that meaningful then in the scheme of the cash flow that this metric tracks.