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 FOR COMPARISON
TO ADJUSTED OPERATING MARGIN FOR COMPARISON
| GAAP Basis | Adjustments (1) | Keds and Leathers Divestiture (2) | Sperry Divestiture (3) | As Adjusted | |
|---|---|---|---|---|---|
| Operating Profit (Loss) - Fiscal 2023 | $(68.2) | $137.1 | $(1.4) | $10.3 | $77.8 |
| Operating margin | (3.0)% | 3.9% | |||
| (1)Adjustments reflect $185.3 million for a non-cash impairment of long-lived assets, $47.1 million of reorganization costs, $5.5 million of costs associated with divestitures, partially offset by $90.4 million gain on the sale of businesses, trademarks and long-lived assets and $10.4 million of environmental and other related costs net of recoveries. | |||||
| (2)Adjustments reflect the Keds business and Wolverine Leathers business results included in the consolidated condensed statement of operations. | |||||
| (3)Adjustments reflect the Sperry business results included in the consolidated condensed statement of operations. | |||||
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