Attached files

file filename
10-K - 10-K - PLEXUS CORPplxs-20201003.htm
EX-32.2 - EX-32.2 - PLEXUS CORPplxsf2010-kexhibit322.htm
EX-32.1 - EX-32.1 - PLEXUS CORPplxsf2010-kexhibit321.htm
EX-31.2 - EX-31.2 - PLEXUS CORPplxsf2010-kexhibit312.htm
EX-31.1 - EX-31.1 - PLEXUS CORPplxsf2010-kexhibit311.htm
EX-23 - EX-23 - PLEXUS CORPplxsf2010-kexhibit23.htm
EX-21 - EX-21 - PLEXUS CORPplxsf2010-kexhibit21.htm
EX-10.3(K) - EX-10.3(K) - PLEXUS CORPplxsf2010-kexhibit103k.htm
EX-4.3 - EX-4.3 - PLEXUS CORPplxsf2010-kexhibit43.htm

Exhibit 99.1
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
Fiscal year ended
October 3,September 28,September 29,
202020192018
Operating income, as reported$153,372 $142,055 $118,283 
Restructuring and other charges6,003 1,678 — 
One-time employee bonus— — 13,512 
Adjusted operating income159,375 143,733 131,795 
Tax rate14.0 %16.0 %10.0 %
Adjusted operating income (tax effected)$137,062 $120,736 $118,615 
Average invested capital$978,939 $923,107 $735,598 
ROIC14.0 %13.1 %16.1 %
WACC8.8 %9.0 %9.5 %
Economic Return5.2 %4.1 %6.6 %
Average Invested CapitalFiscal 2020
October 3,July 4,April 4,January 4,September 28,Average invested capital
20202020202020202019
Equity$977,480 $944,821 $892,558 $908,372 $865,576 
Plus:
  Debt and finance lease obligations - current146,829 145,993 107,880 67,847 100,702 
  Operating lease obligations - current (1) (2)7,724 8,061 8,546 9,185 — 
  Debt and finance lease obligations - long-term187,975 188,626 186,327 186,827 187,278 
  Operating lease obligations - long-term (2)36,779 38,077 39,617 36,473 — 
Less:
  Cash and cash equivalents(385,807)(296,545)(225,830)(252,914)(223,761)
$970,980 $1,029,033 $1,009,098 $955,790 $929,795 $978,939 
Average Invested CapitalFiscal 2019
September 28,June 29,March 30,December 29,September 19,Average invested capital
20192019201920182018
Equity$865,576 $860,791 $875,444 $905,163 $921,143 
Plus:
  Debt and finance lease obligations - current100,702 138,976 93,197 8,633 5,532 
  Operating lease obligations - current (1) (2)— — — — — 
  Debt and finance lease obligations - long-term187,278 187,581 187,120 187,567 183,085 
  Operating lease obligations - long-term (2)— — — — — 
Less:
  Cash and cash equivalents(223,761)(198,395)(184,028)(188,799)(297,269)
$929,795 $988,953 $971,733 $912,564 $812,491 $923,107 



Average Invested CapitalFiscal 2018
September 19,June 30,March 31,December 30,September 30,Average invested capital
20182018201820172017
Equity$921,143 $882,360 $920,503 $933,849 $1,025,939 
Plus:
  Debt and finance lease obligations - current5,532 6,365 180,772 179,881 286,934 
  Operating lease obligations - current (1) (2)— — — — — 
  Debt and finance lease obligations - long-term183,085 180,204 27,217 26,047 26,173 
  Operating lease obligations - long-term (2)— — — — — 
Less:
  Cash and cash equivalents(297,269)(332,723)(402,470)(506,694)(568,860)
$812,491 $736,206 $726,022 $633,083 $770,186 $735,598 

(1)Included in other accrued liabilities on the Consolidated Balance Sheets.
(2)In the fiscal first quarter of 2020, Plexus 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 continues to be reported under the accounting standards in effect for fiscal 2019 and 2018.