PLEXUS CORP - FORM 10-Q - EX-99.1 - August 7, 2020

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EX-32.2 - EX-32.2 - PLEXUS CORPplxsq3f20exhibit322.htm
EX-32.1 - EX-32.1 - PLEXUS CORPplxsq3f20exhibit321.htm
EX-31.2 - EX-31.2 - PLEXUS CORPplxsq3f20exhibit312.htm
EX-31.1 - EX-31.1 - PLEXUS CORPplxsq3f20exhibit311.htm
10-Q - 10-Q - PLEXUS CORPplxs-20200704.htm

Exhibit 99.1
Return on Invested Capital ("ROIC") and economic return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
Nine Months EndedSix Months EndedNine Months Ended
July 4,Apr 4,Jun 29,
202020202019
Operating income, as reported$102,996  $57,143  $104,528  
Restructuring and impairment charges+6,003  +6,003  +—  
Adjusted operating income$108,999  $63,146  $104,528  
÷3  ÷3  
36,333  34,843  
x4  x2  x4  
Adjusted annualized operating income$145,332  $126,292  $139,372  
Adjusted effective tax ratex13 %x13 %x15 %
Tax impact18,893  16,418  20,906  
Adjusted operating income (tax effected)$126,439  $109,874  $118,466  
Average invested capital÷$980,929  ÷$964,894  ÷$921,435  
ROIC12.9 %11.4 %12.9 %
Weighted average cost of capital-8.8 %-8.8 %-9.0 %
Economic return4.1 %2.6 %3.9 %
Three Months Ended
Average Invested CapitalJul 4,Apr 4,Jan 4,Sept 28,
2020202020202019
Equity$944,821  $892,558  $908,372  $865,576  
Plus:
Debt and finance leases - current145,993  107,880  67,847  100,702  
Operating leases - current (1) (2)
8,061  8,546  9,185  —  
Debt and finance leases - long-term
188,626  186,327  186,827  187,278  
Operating leases - long-term (2)
38,077  39,617  36,473  —  
Less:
Cash and cash equivalents(296,545) (225,830) (252,914) (223,761) 
$1,029,033  $1,009,098  $955,790  $929,795  
Three Months Ended
Average Invested CapitalJun 29,Mar 30,Dec 29,Sept 29,
2019201920182018
Equity$860,791  $875,444  $905,163  $921,143  
Plus:
Debt and finance leases - current138,976  93,197  8,633  5,532  
Operating leases - current (1) (2)
—  —  —  —  
Debt and finance leases - long-term
187,581  187,120  187,567  183,085  
Operating leases - long-term (2)
—  —  —  —  
Less:
Cash and cash equivalents(198,395) (184,028) (188,799) (297,269) 
$988,953  $971,733  $912,564  $812,491  
(1)Included in Other accrued liabilities on the Condensed Consolidated Balance Sheets.
(2)In the first quarter of fiscal 2020, the Company 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 continued to be reported under the accounting standards in effect for fiscal 2019 and 2018.

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