September 2022 Presentation
NON-GAAP RECONCILIATION
Adjusted earnings (loss) before interest, taxes, depreciation and amortization:
Reported net income (loss) - GAAP basis
Plus interest expense
Plus provision (benefit) for income taxes
Plus depreciation and amortization expense
Non-GAAP earnings before interest, taxes, depreciation and amortization
Plus pension settlement charge
Plus on-time acquisition costs
Plus amortization of step up in value of acquired inventories
Plus amortization of acquired customer backlog
Non-GAAP adjusted earnings before interest, taxes, depreciation and amortization
GR
GORMAN-RUPP
COMPANY
Three Months Ended
June 30,
Six Months Ended
June 30,
2022
2021
2022
2021
($1.0)
$7.1
$6.5
$14.5
2.3
2.3
(0.3)
1.8
1.7
3.7
4.3
3.0
7.3
6.0
5.3
11.9
17.8
24.2
1.6
1.7
1.6
1.7
6.9
6.9
1.4
1.4
0.2
0.2
$15.4
$13.6
$27.9
$25.9
The following table reconciles adjusted earnings before interest, income taxes and depreciation and amortization as reconciled above to
free cash flow:
Three Months Ended
March 31,
Six Months Ended
June 30,
2022
2021
2022
2021
Non-GAAP adjusted earnings before interest, taxes, depreciation and amortization:
$15.4
$13.6
$27.9
$25.9
Less capital expenditures
(4.9)
(2.6)
(8.4)
(3.5)
Less regular cash dividends
(4.5)
(4.1)
(8.9)
(8.1)
Non-GAAP free cash flow
$6.0
$6.9
$10.6
$14.3
SEPTEMBER 2022 PRESENTATION
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