EX-99.1 10 plxsf2410-qq3exhibit991.htm EX-99.1

																											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
						Jun 29,									Mar 30,									Jul 1,
						2024									2024									2023
Operating income, as reported									$	113,874								$	74,628								$	142,487
Restructuring and impairment charges									20,257									11,038									23,094
Accelerated stock-based compensation (1)						+			892						+			—						+			—
Adjusted operating income									135,023									85,666									165,581
						÷			3						x			2						÷			3
									45,008																		55,194
						x			4															x			4
Adjusted annualized operating income									$	180,032								$	171,332								$	220,776
Adjusted effective tax rate						x			16		%				x			15		%				x			13		%
Tax impact									$	28,805								$	25,700								$	28,701
Adjusted operating income (tax-effected)									$	151,227								$	145,632								$	192,075
Average invested capital									$	1,454,871								$	1,478,062								$	1,423,003
ROIC									10.4		%							9.9		%							13.5		%
WACC									8.2		%							8.2		%							9.0		%
Economic Return									2.2		%							1.7		%							4.5		%

			June 29,						March 30,						December 30,						September 30,
			2024						2024						2023						2023
Equity			$	1,266,360					$	1,259,762					$	1,266,755					$	1,214,382
Plus:
Debt and finance lease obligations - current			258,175						245,964						251,119						240,205
Operating lease obligations - current (2)			7,990						8,281						9,172						8,363
Debt and finance lease obligations - long-term			90,715						192,025						192,118						190,853
Operating lease obligations - long-term			31,923						33,915						35,989						38,552
Less: Cash and cash equivalents			(269,868)						(265,053)						(231,982)						(256,233)
			$	1,385,295					$	1,474,894					$	1,523,171					$	1,436,122

			July 1,						April 1,						December 31,						October 1,
			2023						2023						2022						2022
Equity			$	1,184,362					$	1,182,382					$	1,150,259					$	1,095,731
Plus:
Debt and finance lease obligations - current			304,781						294,011						329,076						273,971
Operating lease obligations - current (2)			8,772						8,358						8,878						7,948
Debt and finance lease obligations - long-term			187,468						188,730						187,272						187,776
Operating lease obligations - long-term			40,515						31,257						32,149						33,628
Less: Cash and cash equivalents			(252,965)						(269,664)						(247,880)						(274,805)
			$	1,472,933					$	1,435,074					$	1,459,754					$	1,324,249

(1)			During the three and nine months ended June 29, 2024, $0.9 million of accelerated stock-based compensation expense was recorded in selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations as a result of a previously announced executive retirement agreement.
(2)			Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.