Investor Presentaiton
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures
(UNAUDITED)
Water Flow
Solutions
Three months ended June 30, 2022
Water
Management
Solutions
Corporate
Consolidated
(dollars in millions, except per share amounts)
Net income
Income tax expense (3)
Interest expense, net (3)
Pension benefit other than service (3)
$
26.5
7.1
4.2
(0.9)
Operating income (loss)
$
38.1
$
Warranty charge (2)
12.0
4.5
$
(13.2)
36.9
4.5
Strategic reorganization and other charges (1)
0.6
0.6
Adjusted operating income (loss)
38.1
16.5
(12.6)
42.0
Pension benefit other than service (3)
0.9
0.9
Depreciation and amortization
Adjusted EBITDA
Adjusted operating margin
Adjusted EBITDA margin
Adjusted EBITDA
Three prior quarters' adjusted EBITDA
$
7.6
45.7
$
7.2
23.7
0.1
14.9
$
(11.6)
$
57.8
19.4 %
23.3%
12.0%
12.6 %
17.3 %
17.3 %
$
45.7
$
23.7
$
(11.6)
$
57.8
117.2
59.6
(33.1)
143.7
$
162.9
$
83.3
$
(44.7)
$
201.5
Trailing twelve months' adjusted EBITDA
Reconciliation of net debt to total debt (end of period):
Current portion of long term debt
Long-term debt
Total debt
Less cash and cash equivalents
Net debt
Net debt leverage (net debt divided by trailing twelve months' adjusted EBITDA)
Reconciliation of free cash flow to net cash provided by operating activities:
Net cash provided by operating activities
Less capital expenditures
Free cash flow
Strategic reorganization and other charges includes charges related to the closure of our facilities in Aurora, Illinois and Surrey, British Columbia, Canada.
The Company recorded a charge of $4.5 million in connection with its warranty obligations.
(1)
(2)
(3)
The Company does not allocate interest, income taxes or pension benefit (expense) other than service to its segments.
$
0.9
446.1
447.0
154.9
$
292.1
1.4x
$
19.7
10.7
$
9.0
MUELLER
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