EX-99.1 2 ex991september2023altrapro.htm EX-99.1 Document













SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended June 30, 2023
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales$698.7 $460.1 $473.1 $136.7 $1,768.6 
Adjusted Net Sales$698.7 $460.1 $473.1 $136.7 $1,768.6 
GAAP Income from Operations40.259.848.63.0151.6
GAAP Operating Margin %5.8 %13.0 %10.3 %2.2 %8.6 %
Adjusted Income from Operations81.270.568.25.5225.4
Adjusted Operating Margin %11.6 %15.3 %14.4 %4.0 %12.7 %
Adjusted EBITDA164.785.8119.59.7379.7
Adjusted EBITDA Margin %23.6 %18.6 %25.3 %7.1 %21.5 %

PRO FORMA SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended March 31, 2023
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma Net Sales$648.9 $469.5 $419.8 $137.0 $1,675.2 
Pro Forma Adjusted Net Sales$648.9 $469.5 $419.8 $137.0 $1,675.2 
Pro Forma GAAP Income from Operations30.045.412.32.890.5
Pro Forma GAAP Operating Margin %4.6 %9.7 %2.9 %2.0 %5.4 %
Pro Forma Adjusted Income from Operations75.250.136.95.1167.3
Pro Forma Adjusted Operating Margin %11.6 %10.7 %8.8 %3.7 %10.0 %
Pro Forma Adjusted EBITDA159.664.493.99.2327.1
Pro Forma Adjusted EBITDA Margin %24.6 %13.7 %22.4 %6.7 %19.5 %
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PRO FORMA SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended December 31, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma Net Sales$651.6 $495.5 $431.4 $135.6 $1,714.1 
Pro Forma Adjusted Net Sales$651.6 $495.5 $431.4 $135.6 $1,714.1 
Pro Forma GAAP Income from Operations55.865.639.96.5167.8
Pro Forma GAAP Operating Margin %8.6 %13.2 %9.2 %4.8 %9.8 %
Pro Forma Adjusted Income from Operations81.175.152.710.9219.8
Pro Forma Adjusted Operating Margin %12.4 %15.2 %12.2 %8.0 %12.8 %
Pro Forma Adjusted EBITDA155.289.2102.914.7362.0
Pro Forma Adjusted EBITDA Margin %23.8 %18.0 %23.9 %10.8 %21.1 %
PRO FORMA SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended September 30, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma Net Sales$653.7 $569.1 $420.8 $148.0 $1,791.6 
Pro Forma Adjusted Net Sales$653.7 $569.1 $420.8 $148.0 $1,791.6 
Pro Forma GAAP Income from Operations77.770.936.911.8197.3
Pro Forma GAAP Operating Margin %11.9 %12.5 %8.8 %8.0 %11.0 %
Pro Forma Adjusted Income from Operations86.179.747.514.0227.3
Pro Forma Adjusted Operating Margin %13.2 %14.0 %11.3 %9.5 %12.7 %
Pro Forma Adjusted EBITDA163.294.395.417.6370.5
Pro Forma Adjusted EBITDA Margin %25.0 %16.6 %22.7 %11.9 %20.7 %
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PRO FORMA SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended June 30, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma Net Sales$675.0 $595.4 $439.3 $137.8 $1,847.5 
Pro Forma Adjusted Net Sales$675.0 $595.4 $439.3 $137.8 $1,847.5 
Pro Forma GAAP Income from Operations72.886.037.117.9213.8
Pro Forma GAAP Operating Margin %10.8 %14.4 %8.4 %13.0 %11.6 %
Pro Forma Adjusted Income from Operations78.786.349.218.1232.3
Pro Forma Adjusted Operating Margin %11.7 %14.5 %11.2 %13.1 %12.6 %
Pro Forma Adjusted EBITDA159.3100.299.921.9381.3
Pro Forma Adjusted EBITDA Margin %23.6 %16.8 %22.7 %15.9 %20.6 %
PRO FORMA SEGMENT INFORMATION
Unaudited
(Dollars in Millions)
Three Months Ended March 31, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma Net Sales$668.2 $567.2 $442.8 $130.7 $1,808.9 
Net Sales from Businesses Divested/to be Exited(a)
— — (40.1)— $(40.1)
Pro Forma Adjusted Net Sales$668.2 $567.2 $402.7 $130.7 $1,768.8 
Pro Forma GAAP Income from Operations55.2104.436.96.9203.4
Pro Forma GAAP Operating Margin %8.3 %18.4 %8.3 %5.3 %11.2 %
Pro Forma Adjusted Income from Operations73.5104.739.17.0224.3
Pro Forma Adjusted Operating Margin %11.0 %18.5 %9.7 %5.4 %12.7 %
Pro Forma Adjusted EBITDA151.7119.889.411.1372.0
Pro Forma Adjusted EBITDA Margin %22.7 %21.1 %22.2 %8.5 %21.0 %
  (a) This represents Altra's Jacobs Vehicle Systems net sales, which was sold in April 2022.


















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PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended June 30, 2023
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Jun 30, 2023$698.7 $460.1 $473.1 $136.7 $1,768.6 
Impact from Foreign Currency Exchange Rates2.0 3.3 5.0 2.7 13.0 
Pro Forma Organic Sales Three Months Ended Jun 30, 2023$700.7 $463.4 $478.1 $139.4 $1,781.6 
Pro Forma Net Sales Three Months Ended Jun 30, 2022$422.1 $595.4 $194.1 $137.8 $1,349.4 
Pro Forma Net Sales from Businesses Acquired252.9 — 245.2 — 498.1 
Pro Forma Adjusted Net Sales Three Months Ended Jun 30, 2022$675.0 $595.4 $439.3 $137.8 $1,847.5 
Three Months Ended Jun 30, 2023 Pro Forma Organic Sales Growth %(a)
0.6 %(22.2)%4.0 %1.2 %(5.7)%
Three Months Ended Jun 30, 2023 Pro Forma Net Sales Growth %(a)
0.3 %(22.7)%2.9 %(0.8)%(6.4)%
(a) Growth rates for Industrial Powertrain Solutions, Automation & Motion Control, and Total Regal Rexnord are adjusted to normalize the impact of reporting an immaterial amount of Altra’s sales for the first quarter of 2023 within the Regal Rexnord second quarter of 2023 results, which occurred due to transaction close timing.

PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended March 31, 2023
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Mar 31, 2023$414.4 $469.5 $203.2 $137.0 $1,224.1 
Net Sales from Businesses Acquired234.5 — 216.6 — 451.1 
Impact from Foreign Currency Exchange Rates13.2 7.6 9.5 4.2 34.5 
Pro Forma Organic Sales Three Months Ended Mar 31, 2023$662.1 $477.1 $429.3 $141.2 $1,709.7 
Net Sales Three Months Ended Mar 31, 2022$416.3 $567.2 $184.3 $130.7 $1,298.5 
Net Sales from Businesses Acquired(a)
251.9 — 218.4 — 470.3 
Pro Forma Adjusted Net Sales Three Months Ended Mar 31, 2022$668.2 $567.2 $402.7 $130.7 $1,768.8 
Three Months Ended Mar 31, 2023 Pro Forma Organic Sales Growth %(b)
2.3 %(15.9)%11.9 %8.0 %(0.9)%
Three Months Ended Mar 31, 2023 Pro Forma Net Sales Growth %(b)
0.4 %(17.2)%9.5 %4.8 %(2.9)%
(a) Excludes the revenues from Altra's Jacobs Vehicle Systems business, which was sold in April 2022.
(b) Growth rates for Industrial Powertrain Solutions, Automation & Motion Control, and Total Regal Rexnord are adjusted to normalize the impact of reporting an immaterial amount of Altra’s sales for the first quarter of 2023 within the Regal Rexnord second quarter of 2023 results, which occurred due to transaction close timing.
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PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended December 31, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Dec 31, 2022$412.3 $495.5 $201.3 $135.6 $1,244.7 
Net Sales from Businesses Acquired239.3 — 230.1 — 469.4 
Impact from Foreign Currency Exchange Rates(27.6)(13.1)(16.9)(6.5)(64.1)
Pro Forma Organic Sales Three Months Ended Dec 31, 2022$624.0 $482.4 $414.5 $129.1 $1,650.0 
Net Sales Three Months Ended Jan 1, 2022$363.4 $522.9 $198.2 $132.1 $1,216.6 
Net Sales from Businesses Acquired232.9 — 236.9 — 469.8 
Pro Forma Adjusted Net Sales Three Months Ended Jan 1, 2022$596.3 $522.9 $435.1 $132.1 $1,686.4 
Three Months Ended Dec 31, 2022 Pro Forma Organic Sales Growth %4.6 %(7.7)%(4.7)%(2.3)%(2.2)%
Three Months Ended Dec 31, 2022 Pro Forma Net Sales Growth %9.3 %(5.2)%(0.9)%2.6 %1.6 %
PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended September 30, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Sep 30, 2022$415.6 $569.1 $192.6 $148.0 $1,325.3 
Net Sales from Businesses Acquired238.1 — 228.2 — 466.3 
Impact from Foreign Currency Exchange Rates(30.2)(12.1)(15.5)(5.6)(63.4)
Pro Forma Organic Sales Three Months Ended Sep 30, 2022$623.5 $557.0 $405.3 $142.4 $1,728.2 
Net Sales Three Months Ended Oct 2, 2021$168.5 $537.1 $54.9 $132.2 $892.7 
Net Sales from Businesses Acquired(a)
459.8 — 337.0 — 796.8 
Pro Forma Adjusted Net Sales Three Months Ended Oct 2, 2021$628.3 $537.1 $391.9 $132.2 $1,689.5 
Three Months Ended Sep 30, 2022 Pro Forma Organic Sales Growth %(0.8)%3.7 %3.4 %7.7 %2.3 %
Three Months Ended Sep 30, 2022 Pro Forma Net Sales Growth %4.0 %6.0 %7.4 %12.0 %6.0 %
(a) Includes Rexnord PMC and Altra net sales.
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PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended June 30, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Jun 30, 2022$422.1 $595.4 $194.1 $137.8 $1,349.4 
Net Sales from Businesses Acquired252.9 — 245.2 — 498.1 
Impact from Foreign Currency Exchange Rates(23.5)(8.5)(12.0)(3.5)(47.5)
Pro Forma Organic Sales Three Months Ended Jun 30, 2022$651.5 $586.9 $427.3 $134.3 $1,800.0 
Net Sales Three Months Ended Jul 3, 2021$174.5 $526.6 $57.9 $127.9 $886.9 
Net Sales from Businesses Acquired(a)
461.4 — 351.8 — 813.2 
Pro Forma Adjusted Net Sales Three Months Ended Jul 3, 2021$635.9 $526.6 $409.7 $127.9 $1,700.1 
Three Months Ended Jun 30, 2022 Pro Forma Organic Sales Growth %2.5 %11.5 %4.3 %5.0 %5.9 %
Three Months Ended Jun 30, 2022 Pro Forma Net Sales Growth %6.2 %13.1 %7.2 %7.7 %8.7 %
(a) Includes Rexnord PMC and Altra net sales.
PRO FORMA ORGANIC SALES GROWTH
(Dollars in Millions)Three Months Ended March 31, 2022
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Net Sales Three Months Ended Mar 31, 2022$416.3 $567.2 $184.3 $130.7 $1,298.5 
Net Sales from Businesses Acquired(a)
251.9 — 218.4 — 470.3 
Impact from Foreign Currency Exchange Rates(13.1)(3.3)(6.0)(1.4)(23.8)
Pro Forma Organic Sales Three Months Ended Mar 31, 2022$655.1 $563.9 $396.7 $129.3 $1,745.0 
Net Sales Three Months Ended Mar 31, 2021$165.4 $476.1 $50.6 $122.0 $814.1 
Net Sales from Businesses Acquired(b)
443.0 — 293.7 — 736.7 
Pro Forma Adjusted Net Sales Three Months Ended Mar 31, 2021$608.4 $476.1 $344.3 $122.0 $1,550.8 
Three Months Ended Mar 31, 2022 Pro Forma Organic Sales Growth %7.7 %18.4 %15.2 %6.0 %12.5 %
Three Months Ended Mar 31, 2022 Pro Forma Net Sales Growth %9.8 %19.1 %17.0 %7.1 %14.1 %
(a) Excludes the revenues from Altra's Jacobs Vehicle Systems business, which was sold in April 2022.
(b) Includes Rexnord PMC and Altra net sales. Excludes net sales from Altra's Jacobs Vehicle Systems business, which was sold in April 2022.
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PRO FORMA NET INCOME TO ADJUSTED EBITDA
Unaudited
(Dollars in Millions)
Three Months EndedYear EndedThree Months Ended
Mar 31,
2022
Jun 30,
2022
Sep 30,
2022
Dec 31,
2022
Dec 31,
2022
Mar 31,
2023
Jun 30, 2023(a)
Pro Forma Net Income$86.9 $76.5 $71.6 $42.3 $277.3 $(37.6)$33.2 
Plus: Income Taxes24.8 42.9 22.4 (2.1)88.0 4.5 9.9 
Plus: Interest Expense94.2 98.6 106.6 128.6 428.0 127.7 116.4 
Less: Interest Income(1.1)(0.8)(1.3)(2.0)(5.2)(2.7)(5.1)
Plus: Depreciation48.0 49.1 45.1 47.6 189.8 46.0 47.6 
Plus: Amortization88.1 87.3 86.4 86.9 348.7 87.1 89.4 
Pro Forma EBITDA340.9 353.6 330.8 301.3 1,326.6 225.0 291.4 
Plus: Transaction and Related Costs3.2 4.9 0.9 30.1 39.1 69.8 11.3 
Plus: Inventory Step Up4.2 14.6 (3.5)— 15.3 — 44.1 
Plus: Share-Based Compensation Expense10.2 9.2 9.7 8.7 37.8 25.3 14.5 
Plus: Restructuring and Related Costs17.4 (0.6)29.6 19.1 65.5 7.6 16.0 
Plus: Impairments and Exit Related Costs6.1 2.2 3.0 2.8 14.1 — 2.4 
Less: Gain on Sale of Assets(0.7)(2.6)— — (3.3)(0.6)— 
Less: Jacobs Vehicle Systems Adjusted EBITDA(9.3)— — — (9.3)— — 
Pro Forma Adjusted EBITDA$372.0 $381.3 $370.5 $362.0 $1,485.8 $327.1 $379.7 
(a) The information for the three-months ended June 30, 2023 is consistent with the information presented in the Company's Current Report on Form 8-K filed on August 1, 2023 for the second quarter 2023 financial results.

ADJUSTED EBITDAThree Months Ended June 30, 2023
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
GAAP Income from Operations$40.2 $59.8 $48.6 $3.0 $151.6 
Transaction and Related Costs6.5 — 3.0 1.8 11.3 
Inventory Step Up 31.6 — 12.5 — 44.1 
Restructuring and Related Costs 2.6 10.7 2.0 0.7 16.0 
Impairments and Exit Related Costs0.3 — 2.1 — 2.4 
Adjusted Income from Operations$81.2 $70.5 $68.2 $5.5 $225.4 
Amortization$51.7 $2.1 $35.4 $0.2 $89.4 
Depreciation22.7 9.7 12.2 3.0 47.6 
Share-Based Compensation Expense8.0 2.8 3.0 0.7 14.5 
Other Income, Net1.1 0.7 0.7 0.3 2.8 
Adjusted EBITDA$164.7 $85.8 $119.5 $9.7 $379.7 
GAAP Operating Margin %5.8%13.0%10.3%2.2%8.6%
Adjusted Operating Margin %11.6%15.3%14.4%4.0%12.7%
Adjusted EBITDA Margin %23.6%18.6%25.3%7.1%21.5%



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PRO FORMA ADJUSTED EBITDAThree Months Ended March 31, 2023
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma GAAP Income from Operations$30.0 $45.4 $12.3 $2.8 $90.5 
Transaction and Related Costs43.1 — 24.6 2.1 69.8 
Inventory Step Up — — — — — 
Restructuring and Related Costs 2.1 4.7 0.6 0.2 7.6 
Impairments and Exit Related Costs— — — — — 
Gain on Sale of Assets— — (0.6)— (0.6)
Pro Forma Adjusted Income from Operations$75.2 $50.1 $36.9 $5.1 $167.3 
Amortization$50.4 $2.1 $34.4 $0.2 $87.1 
Depreciation21.2 9.6 11.9 3.3 46.0 
Share-Based Compensation Expense12.3 2.0 10.5 0.5 25.3 
Other Income, Net0.5 0.6 0.2 0.1 1.4 
Pro Forma Adjusted EBITDA$159.6 $64.4 $93.9 $9.2 $327.1 
Pro Forma GAAP Operating Margin %4.6%9.7%2.9%2.0%5.4%
Pro Forma Adjusted Operating Margin %11.6%10.7%8.8%3.7%10.0%
Pro Forma Adjusted EBITDA Margin %24.6%13.7%22.4%6.7%19.5%
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PRO FORMA ADJUSTED EBITDAThree Months Ended December 31, 2022
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma GAAP Income from Operations$55.8 $65.6 $39.9 $6.5 $167.8 
Transaction and Related Costs14.5 — 9.3 3.3 27.1 
Inventory Step Up — — — — — 
Restructuring and Related Costs 9.9 9.5 1.6 1.1 22.1 
Impairments and Exit Related Costs0.9 — 1.9 — 2.8 
Gain on Sale of Assets— — — — — 
Pro Forma Adjusted Income from Operations$81.1 $75.1 $52.7 $10.9 $219.8 
Amortization$49.3 $2.0 $35.4 $0.2 $86.9 
Depreciation21.9 9.4 13.2 3.1 47.6 
Share-Based Compensation Expense3.7 2.1 2.5 0.4 8.7 
Other Income, Net(0.8)0.6 (0.9)0.1 (1.0)
Pro Forma Adjusted EBITDA$155.2 $89.2 $102.9 $14.7 $362.0 
Pro Forma GAAP Operating Margin %8.6%13.2%9.2%4.8%9.8%
Pro Forma Adjusted Operating Margin %12.4%15.2%12.2%8.0%12.8%
Pro Forma Adjusted EBITDA Margin %23.8%18.0%23.9%10.8%21.1%
PRO FORMA ADJUSTED EBITDAThree Months Ended September 30, 2022
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma GAAP Income from Operations$77.7 $70.9 $36.9 $11.8 $197.3 
Transaction and Related Costs0.5 — 0.4 — 0.9 
Inventory Step Up (3.5)— — — (3.5)
Restructuring and Related Costs 8.4 8.8 10.2 2.2 29.6 
Impairments and Exit Related Costs3.0 — — — 3.0 
Gain on Sale of Assets— — — — — 
Pro Forma Adjusted Income from Operations$86.1 $79.7 $47.5 $14.0 $227.3 
Amortization$50.6 $2.1 $33.5 $0.2 $86.4 
Depreciation21.5 9.5 11.2 2.9 45.1 
Share-Based Compensation Expense4.2 2.4 2.7 0.4 9.7 
Other Income, Net0.8 0.6 0.5 0.1 2.0 
Pro Forma Adjusted EBITDA$163.2 $94.3 $95.4 $17.6 $370.5 
Pro Forma GAAP Operating Margin %11.9%12.5%8.8%8.0%11.0%
Pro Forma Adjusted Operating Margin %13.2%14.0%11.3%9.5%12.7%
Pro Forma Adjusted EBITDA Margin %25.0%16.6%22.7%11.9%20.7%
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PRO FORMA ADJUSTED EBITDAThree Months Ended June 30, 2022
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma GAAP Income from Operations$72.8 $86.0 $37.1 $17.9 $213.8 
Transaction and Related Costs2.7 — 2.2 — 4.9 
Inventory Step Up 10.3 — 4.3 — 14.6 
Restructuring and Related Costs (4.5)0.3 3.4 0.2 (0.6)
Impairments and Exit Related Costs— — 2.2 — 2.2 
Gain on Sale of Assets(2.6)— — — (2.6)
Pro Forma Adjusted Income from Operations$78.7 $86.3 $49.2 $18.1 $232.3 
Amortization$51.6 $2.1 $33.4 $0.2 $87.3 
Depreciation23.4 9.7 12.6 3.4 49.1 
Share-Based Compensation Expense4.1 1.5 3.6 — 9.2 
Other Income, Net1.5 0.6 1.1 0.2 3.4 
Pro Forma Adjusted EBITDA$159.3 $100.2 $99.9 $21.9 $381.3 
Pro Forma GAAP Operating Margin %10.8%14.4%8.4%13.0%11.6%
Pro Forma Adjusted Operating Margin %11.7%14.5%11.2%13.1%12.6%
Pro Forma Adjusted EBITDA Margin %23.6%16.8%22.7%15.9%20.6%
PRO FORMA ADJUSTED EBITDAThree Months Ended March 31, 2022
(Dollars in Millions)Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal Regal Rexnord
Pro Forma GAAP Income from Operations$55.2 $104.4 $36.9 $6.9 $203.4 
Transaction and Related Costs2.1 — 1.1 — 3.2 
Inventory Step Up 1.8 — 2.4 — 4.2 
Restructuring and Related Costs 14.4 1.0 1.9 0.1 17.4 
Impairments and Exit Related Costs— — 6.1 — 6.1 
Gain on Sale of Assets— (0.7)— — (0.7)
Less: Jacobs Vehicle Systems Adjusted Income from Operations— — (9.3)— (9.3)
Pro Forma Adjusted Income from Operations$73.5 $104.7 $39.1 $7.0 $224.3 
Amortization$50.4 $2.2 $35.3 $0.2 $88.1 
Depreciation23.3 9.9 11.5 3.3 48.0 
Share-Based Compensation Expense4.1 2.4 3.2 0.5 10.2 
Other Income, Net0.4 0.6 0.3 0.1 1.4 
Pro Forma Adjusted EBITDA$151.7 $119.8 $89.4 $11.1 $372.0 
Pro Forma GAAP Operating Margin %8.3%18.4%8.3%5.3%11.2%
Pro Forma Adjusted Operating Margin %11.0%18.5%9.7%5.4%12.7%
Pro Forma Adjusted EBITDA Margin %22.7%21.1%22.2%8.5%21.0%
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