Levi Strauss Investor Day Presentation Deck
ADJUSTED EBIT AND
ADJUSTED EBITDA (CONT.)
(1)
(2)
(3)
Includes $14.7 million in pension settlement losses related
to the voluntary lump-sum, cash-out program offered to
vested deferred US pension plan participants during the
year ended November 29, 2020. See Note 10 to our audited
consolidated financial statements included in this report for
further information.
Includes the impact of the changes in fair value of Class B
common stock following the grant date on awards that were
granted as cash-settled and subsequently replaced with
stock-settled awards concurrent with the IPO.
For the year ended November 28, 2021, the net reduction in
COVID-19 related inventory costs and other charges
recognized mainly represents reductions in COVID-19
related inventory charges, as a result of reductions in our
estimate of adverse fabric purchase commitments and
allowances related to customer receivables partially offset
with impairment charges of certain retail store related
assets. For the year ended November 29, 2020, COVID-19
related inventory costs and other charges primarily include
$42.3 million of incremental inventory reserves, $26.2 million
of adverse fabric purchase commitments, $44.3 million and
$21.7 million in impairment of operating lease right-of-use
assets and property and equipment related to certain retail
locations and other corporate assets, respectively, and
$17.7 million of charges related to customer receivables.
The remainder relates to other incremental costs incurred in
response to the global pandemic.
LEVI STRAUSS & CO.
(4)
(5)
(6)
Acquisition and integration related charges includes the
inventory markup above historical carrying value as well as
SG&A expenses associated with the Beyond YogaⓇ
acquisition.
Other charges included in Restructuring and restructuring
related charges, severance and other, net include charges
related to an international customs audit and transaction and
deal related costs.
Depreciation and amortization amount net of amortization
included in Restructuring and restructuring related charges,
severance and other, net.
©2022 Levi Strauss & Co. CONFIDENTIAL 164View entire presentation