Plexus (PLXS) 10-K 2023 FY Annual report

												Exhibit 99.1
Return on Invested Capital ("ROIC") and Economic Return Calculations GAAP to non-GAAP reconciliation (dollars in thousands):
			Fiscal year ended
			September 30,			October 1,			October 2,
			2023			2022			2021
Operating income, as reported			$	195,820		$	178,185		$	176,268
Restructuring and other charges			23,094			2,021			3,267
Adjusted operating income			218,914			180,206			179,535
Tax rate			13.0		%	13.0		%	13.0		%
Adjusted operating income (tax-effected)			$	190,455		$	156,779		$	156,195
Average invested capital			$	1,425,626		$	1,207,357		$	1,014,742
ROIC			13.4		%	13.0		%	15.4		%
WACC			9.0		%	9.3		%	8.1		%
Economic Return			4.4		%	3.7		%	7.3		%
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 (1)	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
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 (1)	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

Average Invested Capital	Fiscal 2021
	October 2,		July 3,		April 3,		January 2,		October 3,		Average invested capital
	2021		2021		2021		2021		2020
Equity	$	1,028,232	$	1,020,450	$	1,013,952	$	1,006,959	$	977,480
Plus:
Debt and finance lease obligations - current	66,313		60,468		50,229		148,408		146,829
Operating lease obligations - current (1)	9,877		9,130		9,314		9,351		7,724
Debt and finance lease obligations - long-term	187,033		187,690		188,730		188,148		187,975
Operating lease obligations - long-term	37,970		33,193		34,751		37,052		36,779
Less:
Cash and cash equivalents	(270,172)		(303,255)		(294,370)		(356,724)		(385,807)
	$	1,059,253	$	1,007,676	$	1,002,606	$	1,033,194	$	970,980	$	1,014,742

(1) Included in other accrued liabilities on the Consolidated Balance Sheets.