Engineering a Cleaner, Healthier World
Non-GAAP Reconciliations
Free cash flow
(In millions)
Twelve months ended March 31,
2023
2022
2021
2020
Net cash provided by operating activities
$
107.5
$
11.5
$
149.8
$
57.9
Expenditures for property, plant and equipment
(50.7)
(40.3)
(32.7)
(71.3)
Free cash flow
$
56.8
$
(28.8)
$
117.1
$
(13.4)
Net Sales
$ 2,297.9
$ 2,050.1
$ 1,808.4
$ 1,975.5
FCF % of Net Sales
2.5%
-1.4%
6.5%
-0.7%
Net debt
(In millions)
September 30, 2023
March 31, 2023
March 31, 2022
March 31, 2021
March 31, 2020
Debt due within one year
$
19.7
$
23.4
$
29.4
$
23.3
$
30.4
Long-term debt
322.9
329.3
348.4
311.2
452.0
Total debt
Less: cash and cash equivalents
342.6
352.7
377.8
334.5
482.4
120.2
67.1
45.2
37.8
70.9
Net debt
$
222.4
$
285.6
$
332.6
$
296.7
$
411.5
MODINE
Engineering a Cleaner, Healthier World
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