These borrowings were made in March and deposit it as cash balances on hand as a protective measure to preserve financial flexibility in light of general economic and financial market uncertainty resulting from the COVID-19 outbreak.As of the end of Q1 '21, we also had $438.8 million of term loans outstanding and $293 million principal amount of convertible senior notes outstanding. Please go ahead, sir.All of these factors produced adjusted EBITDA of $69.9 million or 8.6% of revenue and adjusted diluted earnings per share of $0.36, compared to $0.53 in the year ago quarter. I could not be prouder of our employees, field technician served our customers 24/7, helping grow network capacity and maintaining networks whose functioning has never been more necessary for daily life. The company is closely monitoring the impact of the pandemic on all aspects of our business, we have taken proactive measures to maintain business continuity, manage costs and preserve the solid financial position of our company. Adjusted G&A expense decreased 18 basis points, compared to Q1 '20. To-date during the COVID-19 pandemic, our services have generally been considered to be essential in nature and have not been materially interrupted. Just, you know, wondering if you could help us with expectations around conversion of free cash flow from EBITDA this year, maybe relative to Dycom's normalized trend and/or whether there is some moving parts, we should be considering as we move through the rest of the fiscal year here?On the revenue producing sides, are roughly the other two-thirds, a good portion of those relate to what I'll call our short cycle businesses, where they are almost exclusively performed in-house and where seasonally we typically have lots of trainees at this -- during this quarter.
So there is a number of ways that cable can provision more upstream bandwidth, but the most basic is to reduce the number of subscribers that connect to an individual fiber at a node location and ergo, pushing fiber deeper, certainly helps with that. And we think that we will continue to delever the business through the balance of the year based on those factors.And we have a follow-up question with Alex Rygiel with B. Riley. And so there has been an impact on that business.I think, that's exactly correct that is...Finally, we decisively and proactively adjusted our operating plans by reducing general and administrative expenses, including executive compensation and overall head count. All right, so really nice improvement on the cash generation last two quarters here.
I think, Alan, as we said in our comments, we moved over 2,000 people, I think it was actually north of 2,400 people to working off-site or work from home. So I think in general, we were pleased with where that business was.Now going to Slide 4, for employees keeping them safe was our first priority, we quickly adopted enhanced protection protocols and PPE guidelines for all employees and facilities. May 12, 2020. Very good. Just to clarify to make sure it's -- I'm clear on the moving pieces. Fiber deep deployments to expand capacity are under way; dramatically increased speeds to consumers are being provisioned and consumer data usage is growing dramatically. With customers we remained intensely focused on their businesses, we continue to serve as our customers provide critical infrastructure, we are generally considered an essential business provider under state and local pandemic mitigation orders and we experienced a limited impact on our operations from sporadic, geographically disparate and limited municipal issues.Verizon was our largest customer at 21.6% of total revenue or $176.1 million.