EX-99.1 9 plxsf2410-kexhibit991.htm EX-99.1

																											Exhibit 99.1
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
									Fiscal year ended
									September 28,						September 30,						October 1,
									2024						2023						2022
Operating income, as reported									$	167,732					$	195,820					$	178,185
Restructuring and other charges									20,257						23,094						2,021
Accelerated stock-based compensation (1)									5,063						—						—
Adjusted operating income									193,052						218,914						180,206
Tax rate									13.0		%				13.0		%				13.0		%
Adjusted operating income (tax-effected)									$	167,955					$	190,455					$	156,779
Average invested capital									$	1,418,698					$	1,425,626					$	1,207,357
ROIC									11.8		%				13.4		%				13.0		%
WACC									8.2		%				9.0		%				9.3		%
Economic Return									3.6		%				4.4		%				3.7		%
Average Invested Capital			Fiscal 2024
			September 28,						June 29,						March 30,						December 30,						September 30,						Average invested capital
			2024						2024						2024						2023						2023
Equity			$	1,324,825					$	1,266,360					$	1,259,762					$	1,266,755					$	1,214,382
Plus:
Debt and finance lease obligations - current			157,325						258,175						245,964						251,119						240,205
Operating lease obligations - current (2)			14,697						7,990						8,281						9,172						8,363
Debt and finance lease obligations - long-term			89,993						90,715						192,025						192,118						190,853
Operating lease obligations - long-term			32,275						31,923						33,915						35,989						38,552
Less:
Cash and cash equivalents			(345,109)						(269,868)						(265,053)						(231,982)						(256,233)
			$	1,274,006					$	1,385,295					$	1,474,894					$	1,523,171					$	1,436,122					$	1,418,698
Average Invested Capital			Fiscal 2023
			September 30,						July 1,						April 1,						December 31,						October 1,						Average invested capital
			2023						2023						2023						2022						2022
Equity			$	1,214,382					$	1,184,362					$	1,182,382					$	1,150,259					$	1,095,731
Plus:
Debt and finance lease obligations - current			240,205						304,781						294,011						329,076						273,971
Operating lease obligations - current (2)			8,363						8,772						8,358						8,878						7,948
Debt and finance lease obligations - long-term			190,853						187,468						188,730						187,272						187,776
Operating lease obligations - long-term			38,552						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

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Average Invested Capital			Fiscal 2022
			October 1,						July 2,						April 2,						January 1,						October 2,						Average invested capital
			2022						2022						2022						2022						2021
Equity			$	1,095,731					$	1,058,190					$	1,040,591					$	1,044,095					$	1,028,232
Plus:
Debt and finance lease obligations - current			273,971						250,012						222,393						151,417						66,313
Operating lease obligations - current (2)			7,948						8,640						9,266						9,507						9,877
Debt and finance lease obligations - long-term			187,776						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

(1)			During the twelve months ended September 28, 2024 $5.1 million of accelerated stock-based compensation expense was recorded in selling and administrative expense in the accompanying Consolidated Statement of Operations as a result of a previously announced executive retirement account.
(2)			Included in other accrued liabilities on the Consolidated Balance Sheets.