2023 INVESTOR DAY
Trailing Twelve Month Adjusted EBITDA, Gross Leverage and Net Leverage
($ in millions)
Net Earnings (GAAP)
Interest, Net
Other Nonoperating (Income) Expense
Income Taxes
Operating Profit (GAAP)
Other Operating Profit Adjustments
Three-Month Period Ended
December 31,
June 30, 2023
March 31, 2023
2022
September 30,
2022
$
209
$
225 $
216 $
218
|
14
(1)
66
67
79
67
$
289 $
292 $
294 $
285
(8)
(14)
(15)
(15)
10
10
10
12
12
12
11
$
303 $
300 $
300 $
291
Depreciation
Amortization of Intangible Assets
Adjusted EBITDA (Non-GAAP)
Trailing Twelve Month Operating Profit (GAAP)
$
1,160
Trailing Twelve Month Adjusted EBITDA (Non-GAAP)
S
1,194
Long Term Debt
$
2.580
Less: Cash on Hand
(250)
Net Debt (Non-GAAP)
S
2,330
9
Gross Debt to Operating Profit
Net Debt to Operating Profit
10
2.22
2.01
Gross Leverage (Non-GAAP)¹¹
2.16
Net Leverage (Non-GAAP) ¹²
1.95
1
Refer to Footnotes A, B, and D on page 77 for descriptions of the components of Other Operating Profit Adjustments.
5
Prior to the separation. Veralto was a part of Danaher Corporation and was dependent upon Danaher for its financing. None of Danaher's debt or interest expense was assigned to
Veralto for these historic periods. Refer to Veralto's registration statement on Form 10 for more information in connection with the separation. Veralto expects to issue
approximately $2.6 billion of senior unsecured notes in connection with the separation and will incur interest expense in future periods.
6
Trailing Twelve Month Operating Profit is defined as the sum of Operating Profit for the previous four quarters.
7
Trailing Twelve Month Adjusted EBITDA (Non-GAAP) is defined as the sum of Adjusted EBITDA (Non-GAAP) for the previous four quarters.
8
Estimate of anticipated post-separation capital structure and cash balance as of separation.
9
Calculated as Long Term Debt divided by Trailing Twelve Month Operating Profit.
10
Calculated as Net Debt divided by Trailing Twelve Month Operating Profit.
11
Calculated as Long Term Debt divided by Trailing Twelve Month Adjusted EBITDA (Non-GAAP).
12
Veralto
Calculated as Net Debt divided by Trailing Twelve Month Adjusted EBITDA (Non-GAAP).
2023 INVESTOR DAY | 74View entire presentation