EX-99.1 9 plxsf2310-kexhibit991.htm EX-99.1 Document

Exhibit 99.1
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
Fiscal year ended
September 30,October 1,October 2,
202320222021
Operating income, as reported$195,820 $178,185 $176,268 
Restructuring and other charges23,094 2,021 3,267 
Adjusted operating income218,914 180,206 179,535 
Tax rate13.0 %13.0 %13.0 %
Adjusted operating income (tax-effected)$190,455 $156,779 $156,195 
Average invested capital$1,425,626 $1,207,357 $1,014,742 
ROIC13.4 %13.0 %15.4 %
WACC9.0 %9.3 %8.1 %
Economic Return4.4 %3.7 %7.3 %
Average Invested CapitalFiscal 2023
September 30,July 1,April 1,December 31,October 1,Average invested capital
20232023202320222022
Equity$1,214,382 $1,184,362 $1,182,382 $1,150,259 $1,095,731 
Plus:
  Debt and finance lease obligations - current240,205 304,781 294,011 329,076 273,971 
  Operating lease obligations - current (1)8,363 8,772 8,358 8,878 7,948 
  Debt and finance lease obligations - long-term190,853 187,468 188,730 187,272 187,776 
  Operating lease obligations - long-term38,552 40,515 31,257 32,149 33,628 
Less:
  Cash and cash equivalents(256,233)(252,965)(269,664)(247,880)(274,805)
$1,436,122 $1,472,933 $1,435,074 $1,459,754 $1,324,249 $1,425,626 
Average Invested CapitalFiscal 2022
October 1,July 2,April 2,January 1,October 2,Average invested capital
20222022202220222021
Equity$1,095,731 $1,058,190 $1,040,591 $1,044,095 $1,028,232 
Plus:
  Debt and finance lease obligations - current273,971 250,012 222,393 151,417 66,313 
  Operating lease obligations - current (1)7,948 8,640 9,266 9,507 9,877 
  Debt and finance lease obligations - long-term187,776 184,707 186,069 187,075 187,033 
  Operating lease obligations - long-term 33,628 32,270 34,347 36,343 37,970 
Less:
  Cash and cash equivalents(274,805)(276,608)(307,964)(217,067)(270,172)
$1,324,249 $1,257,211 $1,184,702 $1,211,370 $1,059,253 $1,207,357 



Average Invested CapitalFiscal 2021
October 2,July 3,April 3,January 2,October 3,Average invested capital
20212021202120212020
Equity$1,028,232 $1,020,450 $1,013,952 $1,006,959 $977,480 
Plus:
  Debt and finance lease obligations - current66,313 60,468 50,229 148,408 146,829 
  Operating lease obligations - current (1)9,877 9,130 9,314 9,351 7,724 
  Debt and finance lease obligations - long-term187,033 187,690 188,730 188,148 187,975 
  Operating lease obligations - long-term37,970 33,193 34,751 37,052 36,779 
Less:
  Cash and cash equivalents(270,172)(303,255)(294,370)(356,724)(385,807)
$1,059,253 $1,007,676 $1,002,606 $1,033,194 $970,980 $1,014,742 

(1)Included in other accrued liabilities on the Consolidated Balance Sheets.