Investor Presentaiton
69
69
($mm)
Adjusted Net Earnings Reconciliation
Net Earnings (Loss) Attributable
to PHINIA (Per Form 10)
2021
2022
PF 2022
$152
$262
$186
1
Key Adjustments
2
Add-back of non-recurring M&A expenses
primarily related to professional fees associated
with the Spin-Off and the Delphi acquisition
Add-back of non-recurring restructuring
expenses:
2022 expenses primarily relate to
equipment relocation and professional
fees
■ 2021 expenses relate to Delphi's legacy
restructuring plan to reshape and realign
its global technical center footprint and
reduce salaried and contract staff
1
(+) Merger, Acquisition and Divestiture Expense
7
31
31
2
(+) Restructuring Expense
33
53
9
(+) Asset Impairments, Write-offs
3
13
5
01
5
and Lease Modifications
(+) Intangible Asset Amortization
(23)
(11)
(11)
(+) Other
1
3
Adjusted Net Earnings
$202
$297
$221
2021 relates to the impairment of an Aftermarket
tradename and a right-of-use lease asset in
China. 2022 relates to the impairment of
intangible assets associated with the wind down
of the Company's business in Russia
PHINIAView entire presentation