Q2 2022 Earnings Release
ROIC Reconciliation
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
2021
2021
2021
2022
2022
Dollars in millions
Return on Invested Capital (ROIC)
Segment income
$
174.9
$
179.7
$
166.9
$
172.1
$
205.9
Reported effective tax rate
15.9 %
13.3 %
2.0 %
15.4 %
15.7 %
Adjusted effective tax rate
17.4 %
16.0 %
12.1 %
16.0 %
16.0 %
NOPAT
$
Depreciation
144.5
12.8
$
150.9 $
146.7
$
144.6 $
173.0
12.8
Capital expenditures ("Cap Ex")
(11.1)
(14.3)
12.9
(21.6)
13.0
13.5
(17.7)
(22.4)
Total NOPAT, Depreciation, and Cap Ex
$
146.2 $
149.4 $
138.0 $
139.9 $
164.1
Trailing four quarter NOPAT, Depreciation, and Cap Ex
$ 521.5 $
551.5 $
Ending Invested Capital
Trailing five quarter average invested capital
2,892.3
2,886.4
2,865.8
2,885.1
573.7 $
3,222.0
2,975.0
573.5 $
591.4
3,492.9
3,100.8
3,339.7
3,162.5
After-tax Return on Invested Capital
18.1 %
19.1 %
19.3 %
18.5 %
18.7 %
NOPAT (Net Operating Profit After Tax) is Defined as [(Segment Income) X (1 - Adjusted Effective Tax Rate)]
Ending Invested Capital is Defined as [Total Shareholders' Equity + Long-term Debt + Current Maturities of Long-term Debt and Short-term
Borrowings - Cash and Cash Equivalents]
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Q2 2022 Earnings Release. 2022 Pentair. All Rights Reserved.
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