Engineering a Cleaner, Healthier World
Non-GAAP Reconciliations
Modine Manufacturing Company
Segment adjusted financial results (unaudited)
(In millions)
Operating income
Depreciation and amortization expense
Restructuring expenses
Environmental charges
(b)
Adjusted EBITDA
Net sales
Adjusted EBITDA margin
Six months ended September 30, 2023
Six months ended September 30, 2022
Climate
Solutions
Performance
Corporate and
Climate
Performance
Corporate and
Technologies
eliminations
Total
Solutions
Technologies
eliminations
Total
$ 88.9
$ 65.6
$
(22.3) $
132.2
$ 59.7
$
23.7
$
(21.0) $
62.4
10.9
16.3
0.5
27.7
10.8
15.9
0.6
27.3
0.3
0.2
0.5
0.3
1.8
2.1
1.2
1.2
1.4
1.4
$ 100.1
$
82.1 $
(20.6) $ 161.6
$ 70.8
$
41.4 $
(19.0) $ 93.2
$ 547.6 $
18.3%
710.6
11.6%
$
(15.3) $1,242.9
$ 500.3
$ 634.3
$
(14.8) $ 1,119.8
13.0%
14.2%
6.5%
8.3%
(a) Restructuring expenses primarily consist of employee severance expenses related to targeted headcount reductions and equipment transfer costs.
(b)
Environmental charges, including related legal costs, are recorded as SG&A expenses at Corporate and relate to a previously-owned U.S. manufacturing facility.
MODINE
Engineering a Cleaner, Healthier World
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