PLEXUS CORP - FORM 10-K - EX-99.1 - EXHIBIT 99.1 - November 16, 2018

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EX-32.2 - EXHIBIT 32.2 - PLEXUS CORPplxsf1810-kexhibit322.htm
EX-32.1 - EXHIBIT 32.1 - PLEXUS CORPplxsf1810-kexhibit321.htm
EX-31.2 - EXHIBIT 31.2 - PLEXUS CORPplxsf1810-kexhibit312.htm
EX-31.1 - EXHIBIT 31.1 - PLEXUS CORPplxsf1810-kexhibit311.htm
EX-23 - EXHIBIT 23 - PLEXUS CORPplxsf1810-kexhibit23.htm
EX-21 - EXHIBIT 21 - PLEXUS CORPplxsf1810-kexhibit21.htm
EX-10.7(A) - EXHIBIT 10.7(A) - PLEXUS CORPplxsf1810-kexhibit107a.htm
EX-10.3(G) - EXHIBIT 10.3(G) - PLEXUS CORPplxsf1810-kexhibit103g.htm
EX-10.3(D) - EXHIBIT 10.3(D) - PLEXUS CORPplxsf1810-kexhibit103d.htm
10-K - 10-K - PLEXUS CORPplxsf1810-k.htm


 
 
 
 
 
 
 
 
 
Exhibit 99.1
 
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
 
 
 
Fiscal year ended
 
 
 
 
 
 
 
September 29,
2018
 
September 30,
2017
 
October 1,
2016
 
 
 
 
Operating income, as reported
 
 
$
118,283

 
$
129,908

 
$
99,439

 
 
 
 
One-time employee bonus
 
 
13,512

 
—

 
—

 
 
 
 
Typhoon-related losses
 
 
—

 
—

 
2,871

 
 
 
 
Accelerated stock-based compensation expense
 
 
—

 
—

 
5,210

 
 
 
 
Restructuring and other charges
 
 
—

 
—

 
7,034

 
 
 
 
Adjusted operating income
 
 
131,795

 
129,908

 
114,554

 

 
 
Tax rate
 
 
10.0
%
 
8.0
%
 
11.0
%
 
 
 
 
Adjusted operating income (tax effected)
 
 
$
118,615

 
$
119,515

 
$
101,953

 
 
 
 
Average invested capital
 
 
$
735,598

 
$
738,266

 
$
739,986

 
 
 
 
ROIC
 
 
16.1
%
 
16.2
%
 
13.8
%
 
 
 
 
WACC
 
 
9.5
%
 
10.5
%
 
11.0
%
 
 
 
 
Economic Return
 
 
6.6
%
 
5.7
%
 
2.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average Invested Capital
Fiscal 2018
 
Actual
 
Actual
 
Actual
 
Actual
 
Actual
 
Average invested capital
 
9/29/18
 
6/30/18
 
3/31/18
 
12/30/17
 
9/30/17
 
Equity
$
921,143

 
$
882,360

 
$
920,503

 
$
933,849

 
$
1,025,939

 
 
Plus:
 
 
 
 
 
 
 
 
 
 
 
   Debt - current
5,532

 
6,365

 
180,772

 
179,881

 
286,934

 
 
   Debt - non-current
183,085

 
180,204

 
27,217

 
26,047

 
26,173

 
 
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

 
 
 
 
 
 
 
 
 
 
 
 
Average Invested Capital
Fiscal 2017
 
Actual
 
Actual
 
Actual
 
Actual
 
Actual
 
Average invested capital
 
9/30/2017
 
7/1/2017
 
4/1/2017
 
12/30/2016
 
10/1/2016
 
Equity
$
1,025,939

 
$
991,306

 
$
961,438

 
$
927,542

 
$
916,797

 
 
Plus:
 
 
 
 
 
 
 
 
 
 
 
   Debt - current
286,934

 
267,297

 
92,623

 
78,879

 
78,507

 
 
   Debt - non-current
26,173

 
26,138

 
185,638

 
184,136

 
184,002

 
 
Less:
 
 
 
 
 
 
 
 
 
 
 
  Cash and cash equivalents
(568,860
)
 
(519,172
)
 
(524,520
)
 
(496,505
)
 
(432,964
)
 
 
 
$
770,186

 
$
765,569

 
$
715,179

 
$
694,052

 
$
746,342

 
$
738,266

 
 
 
 
 
 
 
 
 
 
 
 
Average Invested Capital
Fiscal 2016
 
Actual
 
Actual
 
Actual
 
Actual
 
Actual
 
Average invested capital
 
10/1/2016
 
7/2/2016
 
4/2/2016
 
1/2/2016
 
10/3/2015
 
Equity
$
916,797

 
$
895,175

 
$
871,111

 
$
850,794

 
$
842,272

 
 
Plus:
 
 
 
 
 
 
 
 
 
 
 
   Debt - current
78,507

 
78,279

 
2,300

 
2,864

 
3,513

 
 
   Debt - non-current
184,002

 
184,479

 
259,565

 
259,289

 
259,257

 
 
Less:
 
 
 
 
 
 
 
 
 
 
 
  Cash and cash equivalents
(432,964
)
 
(433,679
)
 
(409,796
)
 
(354,728
)
 
(357,106
)
 
 
 
$
746,342

 
$
724,254

 
$
723,180

 
$
758,219

 
$
747,936

 
$
739,986



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