Dorman Products Inc
For the period ended May 16, 2025. Filed Apr 7, 2025.
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May 16, 2025 · Filed Apr 7, 2025
Contents
Appendix A
Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this proxy statement also contains Non-GAAP financial measures. Non-GAAP financial measures should not be used as a substitute for GAAP measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position, or cash flows. Additionally, these non-GAAP measures may not be comparable to similarly titled measures reported by other companies. However, we have presented these non-GAAP financial measures because we believe that this information, when reconciled to the corresponding GAAP measure, provides useful information to investors by offering additional ways of viewing our results, profitability trends, and underlying growth relative to prior and future periods and to our peers. Management uses these non-GAAP financial measures in making financial, operating, and planning decisions and in evaluating our performance. Non-GAAP financial measures may reflect adjustments for charges such as fair value adjustments, amortization, transaction costs, severance, accelerated depreciation, and other similar expenses related to acquisitions as well as other items that we believe are not related to our ongoing performance.
Reconciliation of Pre-tax income to Adjusted Pre-Tax Income:
| ($ in millions) | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Fiscal2024 |
|---|---|---|---|---|
| Income before income taxes (GAAP) | $169.8 | $156.2 | $168.5 | $256.3 |
| Acquisition-related intangible assets amortization | 6.3 | 14.1 | 21.8 | 22.5 |
| Acquisition-related transaction and other costs | 12.7 | 20.9 | 15.4 | 2.6 |
| Capitalized debt issuance fee write-off | — | 0.2 | — | — |
| Reduction in workforce costs | — | — | — | 5.0 |
| Executive transition services expense | — | — | 1.8 | — |
| First year impact of acquisitions | (8.5) | (3.4) | — | — |
| Fair value adjustment to contingent consideration | 2.4 | 1.8 | (20.5) | — |
| Adjusted pre-tax income (Non-GAAP) | $182.7 | $189.8 | $187.0 | $286.3 |
Reconciliation of Free Cash Flow:
| ($ in millions) | Fiscal2024 |
|---|---|
| Cash provided by operating activities | $231.0 |
| Less: Property, plant, and equipment additions | (39.4) |
| Free cash flow | $191.6 |
Reconciliation of Segment income from operations as set forth in the Company’s annual report on Form 10-K for the year ended December 31, 2024 to Segment adjusted operating income used in executive compensation program
| ($ in millions) | Light Duty | Heavy Duty | SpecialtyVehicle | Total |
| Income from operations per annual report on Form 10-K | $1,284.2 | $6.5 | $32.3 | $323.0 |
| Corporate Allocations | 29.5 | 5.0 | 4.4 | 38.9 |
| Adjusted Income from operations per executive compensation program | $313.7 | $11.5 | $36.7 | $361.9 |
84 | 2025 Proxy Statement
Reconciliation of Segment Operating Income used in executive compensation program to consolidated Adjusted Pre-Tax Income (Non-GAAP):
| ($ in millions) | Fiscal 2024 |
| Adjusted Income from operations per executive compensation program | $361.9 |
| Corporate cost allocations | (38.9) |
| Interest expense, net | (39.7) |
| Other income, net | 3.0 |
| Consolidated Adjusted Pre-Tax Income (Non-GAAP) | $286.3 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.