Investor Presentaiton
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures
(UNAUDITED)
Water Flow
Solutions
Nine months ended June 30, 2023
Water
Management
Solutions
Corporate
(dollars in millions, except per share amounts)
Consolidated
Net income
Income tax expense (2)
$
68.3
20.0
Interest expense, net (2)
11.4
Pension expense other than service (2)
2.8
Operating income (loss)
$
Strategic reorganization and other charges (benefits) (1)
52.0
0.1
$
90.3
$
(39.8)
102.5
1.2
(0.4)
0.9
Adjusted operating income (loss)
52.1
91.5
(40.2)
103.4
Pension benefit other than service
Depreciation and amortization
Adjusted EBITDA
(2.8)
(2.8)
23.7
22.3
0.1
46.1
$
75.8
$
113.8
$
(42.9)
$
146.7
Adjusted operating margin
Adjusted EBITDA margin
Reconciliation of free cash flow to net cash provided by operating activities:
Net cash provided by operating activities
Less capital expenditures
Free cash flow
11.0 %
16.0 %
18.2 %
22.7 %
10.6 %
15.1 %
$
52.5
32.4
$
20.1
(1) Strategic reorganization and Strategic reorganization and other charges (benefits) includes severance and certain transaction-related expenses partially offset by a gain on the sale of our
facility in Aurora, Illinois.
(2)
The Company does not allocate interest, income taxes or pension benefit (expense) other than service to its segments.
MUELLER
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