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 | 73View entire presentation