Enpro Investor Presentation November 2023
Balance Sheet, Cash Flow & Capital Allocation
$ in millions
Net Leverage
Commentary
Reported September 30, 2023
Revolving Credit Facility
$
-
•
Strong balance sheet with ample liquidity
Term Loan (1,2)
$
301
Senior Notes (1)
$
350
Free cash flow* for the nine months ended September
30, 2023 was $134.1M, up from $101.4M in the prior year
•
Capital Lease Obligations
$
1
Paid $18.3M in dividends in the nine months ended
September 30, 2023
A
Debt Components
$
652
• Net leverage ratio of 1.4x at September 30, 20236
Cash, Equivalents, and Short-Term
B
$
331
Investments (3)
C
Noncontrolling Interest(4)
$
18
D (A-B+C) Net Debt
$
339
ENPRO
1 Includes impact from unamortized debt issue costs
2 Includes one term loan facility, the Term Loan A-2 Facility, with outstanding balance at September 30, 2023 of $301.2 million. The Term Loan A-1 Facility was fully repaid on July 26, 2023. The Term Loan A-2 Facility amortizes on a quarterly
basis in an annual amount equal to 2.5% of the original principal amount of the Term Loan A-2 Facility in each of years one through three, 5.0% of such original principal amount in year four and 1.25% of such original principal amount in
each of the first three quarters of year five, with the remaining outstanding principal amount payable at maturity
3 Includes $0.8M of short-term time deposits maturing in 2023 classified outside of cash and equivalents on our consolidated balance sheet
4 Represents redeemable retained interest in Alluxa by previous ownership
5 The $390.0M available for borrowing under revolver is net of $10.0M in letters of credit
6 Net leverage is calculated by dividing net debt at September 30, 2023 by adjusted EBITDA for the 12 months ended September 30, 2023
* Non-GAAP measure; refer to appendix for reconciliation to GAAP.
Enpro Investor Presentation November 2023
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