THOR Investor Day 2022
Reconciliation of Non-GAAP Measures
ROIC %
($ in thousands)
Income Before Income Taxes (1)
FY17 - FY21
5-Year Average
$
498,312
July 31, 2016
July 31, 2021
Invested Capital
Total Stockholders' Equity
$
1,265,222 $
2,948,106
Add Back:
Long-term Debt
360,000
1,594,821
Deferred Income Tax Liabilities, Net
113,598
Less:
Cash and Cash Equivalents
209,902
445,852
Restricted Cash
Deferred Income Tax Assets, Net
Total Invested Capital
5-Year ROIC %
2,854
53,417
41,216
1,361,903 $ 4,166,603
$ 2,764,253
18.0%
(1) Income Before Income Taxes utilized for the ROIC calculation herein is a calculated five year average based on actual results for the fiscal years ending July 31, 2017 to July 31,
2021.
ROIC is calculated using a non-GAAP financial measure. We calculate ROIC by dividing income before income taxes by average invested capital (components and reconciliation shown
above). We believe that ROIC is useful to investors as a measure of performance and of the effectiveness of the use of capital in our operations. We use ROIC as one measure to
monitor and evaluate operating performance. This method of determining non-GAAP ROIC may differ from other companies' methods and therefore may not be comparable to those
used by other companies. ROIC should be considered in addition to, rather than as a substitute for, other information provided in accordance with GAAP.
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THOR Investor Day 2022
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