WOLVERINE WORLD WIDE INC DE
For the period ended May 8, 2024. Filed May 8, 2024.
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May 8, 2024 · Filed May 8, 2024
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Contents
EX-99.1 · TO ADJUSTED OPERATING MARGIN*
TO ADJUSTED OPERATING MARGIN*
| GAAP Basis | Adjustments (1) | Divestiture (2) | As Adjusted | |
|---|---|---|---|---|
| Operating Profit - Fiscal 2024 Q1 | $(3.1) | $13.7 | $8.8 | $19.4 |
| Operating margin | (0.8)% | 5.0% | ||
| Operating Profit - Fiscal 2023 Q1 | $45.3 | $(16.3) | $2.8 | $31.8 |
| Operating margin | 7.6% | 6.1% | ||
| (1)Q1 2024 adjustments reflect $6.1 million for impairments of long-lived assets, $6.0 million of reorganization costs and $1.6 million of environmental and other related costs net of recoveries. Q1 2023 adjustments reflect the $20.1 million gain on the divestiture of the Keds business and $0.9 million of environmental and other related costs net of recoveries, partially offset by $4.7 million of reorganization costs. | ||||
| (2)Q1 2024 adjustments reflect the Sperry business and Wolverine Leathers business results included in the consolidated condensed statement of operations. Q1 2023 adjustments reflect results for the Sperry business, Keds business and Wolverine Leathers business included in the consolidated condensed statement of operations. | ||||
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