Enpro Investor Presentation November 2023
Consolidated Adjusted EBITDA (2/2)
For the Quarters and Nine Months Ended September 30, 2023 and 2022
(In Millions)
Quarters Ended
September 30,
Nine Months Ended
September 30,
2023
2022
2023
2022
Income from continuing operations attributable to EnPro Industries, Inc.
Net income (loss) attributable to redeemable non-controlling interests
Income from continuing operations
$
8.3 $ 26.2
$
15.7 $ 64.2
(0.1)
0.6
(4.3)
0.8
8.2
26.8
11.4
65.0
Adjustments to arrive at earnings before interest, income taxes,
depreciation, amortization, and other selected items ("Adjusted EBITDA"):
Interest expense, net
7.1
9.3
23.6
23.9
Income tax expense
14.7
9.1
17.0
19.8
Depreciation and amortization expense
23.6
25.7
71.1
77.9
Restructuring and impairment expense
2.2
0.1
3.2
2.2
Environmental reserve adjustments
Costs associated with previously disposed businesses
Acquisition and divestiture expenses
Pension expense (income) (non-service cost)
Non-controlling interest compensation allocation¹
Asbestos receivable adjustment
Amortization of the fair value adjustment to acquisition date inventory
0.4
0.1
0.5
(0.2)
0.4
0.2
0.8
0.8
0.1
1.0
0.4
(0.7)
1.1
(2.1)
(0.6)
(0.3)
(0.1)
2.8
1.0
12.3
Goodwill impairment
Foreign exchange losses related to the divestiture of a discontinued operation
Other
Adjusted EBITDA
60.8
0.5
1.5
0.2
$
57.7 $
0.3
71.3 $
0.3
191.1 $ 203.9
0.6
ENPRO
I Non-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that is subject to reduction for certain types of employment terminations of the LeanTeq and
Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have
occurred. The LeanTeq non-controlling interests were acquired by Enpro in December 2022.
Enpro Investor Presentation November 2023
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