Investor Presentaiton
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures
(UNAUDITED)
Three months ended June 30, 2023
Water Flow
Solutions
Water
Management
Solutions
Corporate
Consolidated
(dollars in millions, except per share amounts)
Net income
Income tax expense (2)
Interest expense, net (2)
Pension expense other than service (2)
Operating income (loss)
Adjusted operating income (loss)
Pension expense other than service
Depreciation and amortization
Adjusted EBITDA
Adjusted operating margin
Adjusted EBITDA margin
Adjusted EBITDA
$
24.5
6.4
3.8
0.9
$
Strategic reorganization and other charges (1)
12.6
0.1
$
12.7
39.0
1.0
40.0
$ (16.0)
35.6
2.8
3.9
(13.2)
39.5
(0.9)
(0.9)
8.2
$
20.9
$
7.6
47.6
15.8
$
(14.1)
$
54.4
8.5 %
13.9%
22.7 %
27.0%
12.1 %
16.7%
$
20.9
$
Three prior quarters' adjusted EBITDA
Trailing twelve months' adjusted EBITDA
Reconciliation of net debt to total debt (end of period):
Current portion of long term debt
82.9
$
103.8
$
47.6
88.1
135.7
$
(14.1)
$
54.4
(40.1)
130.9
$
(54.2)
$
185.3
Long-term debt
Total debt
Less cash and cash equivalents
Net debt
Net debt leverage (net debt divided by trailing twelve months' adjusted EBITDA)
Reconciliation of free cash flow to net cash provided by operating activities:
Net cash provided by operating activities
Less capital expenditures
Free cash flow
(1)
Strategic reorganization and other charges includes severance and certain transaction-related expenses.
(2) The Company does not allocate interest, income taxes or pension benefit (expense) other than service to its segments.
$
0.8
446.7
447.5
141.2
$
306.3
1.7x
$
74.7
11.9
$
62.8
MUELLER
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