Attached files
file | filename |
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EX-32.2 - EX-32.2 - PLEXUS CORP | plxsq3f20exhibit322.htm |
EX-32.1 - EX-32.1 - PLEXUS CORP | plxsq3f20exhibit321.htm |
EX-31.2 - EX-31.2 - PLEXUS CORP | plxsq3f20exhibit312.htm |
EX-31.1 - EX-31.1 - PLEXUS CORP | plxsq3f20exhibit311.htm |
10-Q - 10-Q - PLEXUS CORP | plxs-20200704.htm |
Exhibit 99.1 | ||||||||||||||||||||||||||
Return on Invested Capital ("ROIC") and economic return Calculations GAAP to non-GAAP reconciliation (dollars in thousands): | ||||||||||||||||||||||||||
Nine Months Ended | Six Months Ended | Nine Months Ended | ||||||||||||||||||||||||
July 4, | Apr 4, | Jun 29, | ||||||||||||||||||||||||
2020 | 2020 | 2019 | ||||||||||||||||||||||||
Operating income, as reported | $ | 102,996 | $ | 57,143 | $ | 104,528 | ||||||||||||||||||||
Restructuring and impairment charges | + | 6,003 | + | 6,003 | + | — | ||||||||||||||||||||
Adjusted operating income | $ | 108,999 | $ | 63,146 | $ | 104,528 | ||||||||||||||||||||
÷ | 3 | ÷ | 3 | |||||||||||||||||||||||
36,333 | 34,843 | |||||||||||||||||||||||||
x | 4 | x | 2 | x | 4 | |||||||||||||||||||||
Adjusted annualized operating income | $ | 145,332 | $ | 126,292 | $ | 139,372 | ||||||||||||||||||||
Adjusted effective tax rate | x | 13 | % | x | 13 | % | x | 15 | % | |||||||||||||||||
Tax impact | 18,893 | 16,418 | 20,906 | |||||||||||||||||||||||
Adjusted operating income (tax effected) | $ | 126,439 | $ | 109,874 | $ | 118,466 | ||||||||||||||||||||
Average invested capital | ÷ | $ | 980,929 | ÷ | $ | 964,894 | ÷ | $ | 921,435 | |||||||||||||||||
ROIC | 12.9 | % | 11.4 | % | 12.9 | % | ||||||||||||||||||||
Weighted average cost of capital | - | 8.8 | % | - | 8.8 | % | - | 9.0 | % | |||||||||||||||||
Economic return | 4.1 | % | 2.6 | % | 3.9 | % |
Three Months Ended | ||||||||||||||||||||||||||
Average Invested Capital | Jul 4, | Apr 4, | Jan 4, | Sept 28, | ||||||||||||||||||||||
2020 | 2020 | 2020 | 2019 | |||||||||||||||||||||||
Equity | $ | 944,821 | $ | 892,558 | $ | 908,372 | $ | 865,576 | ||||||||||||||||||
Plus: | ||||||||||||||||||||||||||
Debt and finance leases - current | 145,993 | 107,880 | 67,847 | 100,702 | ||||||||||||||||||||||
Operating leases - current (1) (2) | 8,061 | 8,546 | 9,185 | — | ||||||||||||||||||||||
Debt and finance leases - long-term | 188,626 | 186,327 | 186,827 | 187,278 | ||||||||||||||||||||||
Operating leases - long-term (2) | 38,077 | 39,617 | 36,473 | — | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||
Cash and cash equivalents | (296,545) | (225,830) | (252,914) | (223,761) | ||||||||||||||||||||||
$ | 1,029,033 | $ | 1,009,098 | $ | 955,790 | $ | 929,795 |
Three Months Ended | ||||||||||||||||||||||||||
Average Invested Capital | Jun 29, | Mar 30, | Dec 29, | Sept 29, | ||||||||||||||||||||||
2019 | 2019 | 2018 | 2018 | |||||||||||||||||||||||
Equity | $ | 860,791 | $ | 875,444 | $ | 905,163 | $ | 921,143 | ||||||||||||||||||
Plus: | ||||||||||||||||||||||||||
Debt and finance leases - current | 138,976 | 93,197 | 8,633 | 5,532 | ||||||||||||||||||||||
Operating leases - current (1) (2) | — | — | — | — | ||||||||||||||||||||||
Debt and finance leases - long-term | 187,581 | 187,120 | 187,567 | 183,085 | ||||||||||||||||||||||
Operating leases - long-term (2) | — | — | — | — | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||
Cash and cash equivalents | (198,395) | (184,028) | (188,799) | (297,269) | ||||||||||||||||||||||
$ | 988,953 | $ | 971,733 | $ | 912,564 | $ | 812,491 |
(1) | Included in Other accrued liabilities on the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(2) | In the first quarter of fiscal 2020, the Company adopted and applied Topic 842 to all leases using the modified retrospective method of adoption. The prior year comparative information has not been restated and continued to be reported under the accounting standards in effect for fiscal 2019 and 2018. |