2023 INVESTOR DAY slide image

2023 INVESTOR DAY

Net Earnings, Operating Profit, Adjusted EBITDA and Adjusted EBITDA Margin ($ in millions) Year Ended December Year Ended December 31, 2020 31, 2021 April 1, 2022 July 1, 2022 Three-Month Period Ended September 30, 2022 Three-Month Period Ended Six-Month Year Ended December December 31, 2022 31, 2022 March 31, 2023 June 30, 2023 Period Ended June 30, 2023 $ 724 $ 861 $ 180 $ 231 $ 218 $ 216 $ 845 $ 225 $ 209 $ 434 Net Earnings (GAAP) Interest, Net³ Other Nonoperating (Income) Expense 1 (6) (1) (1) 14 14 Income Taxes 226 186 51 71 67 79 268 67 66 133 Operating Profit (GAAP) $ 951 $ 1.041 $ 69 231 302 $ 285 294 $ 1.112 $ 292 289 $ 581 Other Operating Profit Adjustments (48) (65) (14) (7) (15) (15) (51) (14) (8) (22) Depreciation 47 44 11 10 10 9 40 10 10 20 Amortization of Intangible Assets 63 62 14 13 11 12 50 12 12 24 Adjusted EBITDA (Non-GAAP) $ 1,013 $ 1.082 $ 242 $ 318 $ 291 $ 300 $ 1.151 $ 300 $ 303 $ 603 Sales (GAAP) $ 4.348 $ 4,700 $ 1.172 $ 1.231 $ 1.219 $ 1.248 $ 4.870 $ 1,225 $ 1.253 $ 2.478 Operating Profit Margin (GAAP) 21.9 % 22.1 % 19.7 % 24.5 % 23.4 % 23.6 % 22.8 % 23.8 % 23.1 % 23.4 % Adjusted EBITDA Margin (Non-GAAP) * 4 23.3 % 23.0 % 20.6 % 25.8 % 23.9 % 24.0 % 23.6 % 24.5 % 24.2 % 24.3 % 4 1 Refer to Footnotes A, B and D on page 77 for descriptions of the components of Other Operating Profit Adjustments. Adjusted EBITDA Margin (Non-GAAP) is defined as Adjusted EBITDA (Non-GAAP) divided by sales. 5 Prior to the separation. Veralto was a part of Danaher Corporation and was dependent upon Danaher for its financing. None of Danaher's debt or interest expense was assigned to Veralto for these historic periods. Refer to Veralto's registration statement on Form 10 for more information in connection with the separation. Veralto expects to issue approximately $2.6 billion of senior unsecured notes in connection with the separation and will incur interest expense in future periods. Veralto 2023 INVESTOR DAY | 73
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