EX-99.1 6 plxsf2210-qq3exhibit991.htm EX-99.1 Document

Exhibit 99.1
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
Nine Months EndedSix Months EndedNine Months Ended
Jul 2,Apr 2,Jul 3,
202220222021
Operating income, as reported$115,871 $66,310 $133,926 
Restructuring and impairment charges+2,021 +2,021 +3,267 
Adjusted operating income117,892 68,331 137,193 
÷3 x2 x3 
39,297 45,731 
x44 
Adjusted annualized operating income$157,188 $136,662 $182,924 
Adjusted effective tax ratex14 %x14 %x13 %
Tax impact$22,006 $19,133 $23,780 
Adjusted operating income (tax effected)$135,182 $117,529 $159,144 
Average invested capital$1,178,134 $1,151,775 $1,003,614 
ROIC11.5 %10.2 %15.9 %
WACC9.3 %9.3 %8.1 %
Economic Return2.2 %0.9 %7.8 %

July 2,April 2,January 2,October 2,
2022202220222021
Equity$1,058,190 $1,040,591 $1,044,095 $1,028,232 
Plus:
  Debt and finance lease obligations - current250,012 222,393 151,417 66,313 
  Operating lease obligations - current (1)8,640 9,266 9,507 9,877 
  Debt and finance lease obligations - long-term184,707 186,069 187,075 187,033 
  Operating lease obligations - long-term32,270 34,347 36,343 37,970 
Less:
  Cash and cash equivalents(276,608)(307,964)(217,067)(270,172)
$1,257,211 $1,184,702 $1,211,370 $1,059,253 
July 3,April 3,January 2,October 3,
2021202120212020
Equity$1,020,450 $1,013,952 $1,006,959 $977,480 
Plus:
  Debt and finance lease obligations - current60,468 50,229 148,408 146,829 
  Operating lease obligations - current (1)9,130 9,314 9,351 7,724 
  Debt and finance lease obligations - long-term187,690 188,730 188,148 187,975 
  Operating lease obligations - long-term33,193 34,751 37,052 36,779 
Less:
  Cash and cash equivalents(303,255)(294,370)(356,724)(385,807)
$1,007,676 $1,002,606 $1,033,194 $970,980 

(1)Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.