Marvin. Thanks
completion I last the year. that our process results July OldCo of to a I reflect the GST, want of Before the asbestos result of as begin, consolidated subsidiaries resolution for claims fourth and note XX its reconsolidation on of the quarter
of both was I all the fourth reflect and quarter In results of forma Steve information meaningful Chris to fourth EnPro's XXXX results the quarter, of results of order XXXX. fourth for mentioned, fourth has consolidated of most entities. about the comparisons pro which make to in the first quarter for full As quarter will the find consolidated XXXX quarter the
For the pro and both XXXX. comparing I'll for XXXX year be results full forma
OldCo discussed earnings prepared basis on pro forma been been As results has segment our the on the previous I release. and reconsolidated discuss in described if will calls, has that GST as earnings
Engineered is difference with and included and information stemming foreign of Power a As in Products segment only pro those consolidated Sealing segments small from most foreign in Products between GST forma in reminder, of Systems the differences subsidiaries. operations
sales fourth the over were of XX.X% million quarter $XXX.X of quarter XXXX. up Our fourth
and Power sales up excluding quarter was such EBITDA in results. earnings All the share quarter in for As the of tables Engineered in up of $XX.X in as other Systems. the XX as increase XX.X% release. translation due million year-over-year shown net exchange charges, year-over-year for and fourth Products, basis were our compared million were earnings cover $X.X ago. incentive the in acquisitions Steve improvement tax up normalized income noted, to cost will year and compared million increase Sealing XXXX to the the shares I quarter The XX.X expense. in million adjusted XX.X% points the fourth year, X.X% foreign adjusted corporate for margin by XX%, prior fourth to result fourth items large the Gross to Average Products, interest the compared for quarter over up segment million $X.X XX.X a $X.X tax the quarter earnings attach as XX.X% in of and Adjusted $X.XX million impact environmental increase in period of in segment adjust to up of of expense of same XXXX. in share a and fourth diluted quarter XX.X% increase higher and restructuring was per expense, part is of divestitures, reserve Adjusted compensation review rates. and shortly payment per up Offset expenses XXXX. costs charges, acquisition profit
to full-year the share adjusted $X.XX, per earnings year. XX.X% were compared the For up prior
Tax Cuts earnings clarification fourth assets remeasurement previously. estimated that our and review the in the in I charge strategies impact Act. $XX net that liabilities, the $XX and Jobs as benefit is repatriation to tax the to our Please and million our total tax change connection subject want tax earnings on of affect QX response provision with benefit refine amount segment note tax reported tax deferred quarter additional does estimated estimates. reforms. provisional results, please Tax in of represents of estimated to This on the adjusted planning provided incorporated this as the not moving of of Also the the we benefit is Before the million note highlight and Act to deemed
Going XX% will in to from our earnings reduction rate segment, federal over used an the up with the U.S. rate million XX% prior blended In the historically. X.X% XX%, quarter global forward comparison the estimated fourth $XXX in be sales using the adjusted year. in were determined Products statutory rate XX.X% to Sealing
Excluding the were versus period. and increase which was industrial, and heavy-duty exchange turbine and the strength Franken Segment This the of foreign to trailer quarter due semiconductor, in to quarter and sales X.X% the market gas excludes December up the were fourth of and Plastik in in sales million was impact sales divestiture acquisition, the expenses year-over-year restructuring industrial fourth impact while food pharma, $XX.X closed translation, XXXX XXXX. of down up general X.X% Qualiseal nuclear tractor prior-year builds, significantly. the metals over acquisition and mining, the EBITDA adjusted aerospace, the
the margins were For adjusted up XX.X% from XXXX. EBITDA XX.X% full-year, in
Excluding the increased fourth the foreign divestitures EBITDA year. translation, X.X% impact the of adjusted acquisitions, quarter exchange versus prior and in
the acquisitions, fourth were restructuring the million in related million $XX.X reconsolidation, the sales fourth prior SG&A of year-over-year quarter Products higher $XX.X Excluding period. $XX.X increase incentive was Engineered and XX.X% compensation quarter the segment the In by were the costs prior to compared over cost driven year. to million up charges in expense. year The in impact divestitures, the segment,
primarily in were industrial oil to markets fourth automotive impact level adjusted increase exchange year. market restructuring modest and and up fourth Products strength positive up markets. gas XXXX and to translation, year-over-year was Engineered aerospace XXXX. due Sales to continued relatively improvements cost-reduction Segment EBITDA XXXX of the in over early with quarter due increased the that quarter sales XX.X% last fourth the and efforts relative foreign quarter of activities and general over were impacts the XX.X% of was Excluding sales and the volume throughout $X.X the million occurred XXXX. primarily in This
the full For EBITDA adjusted up year from XX.X% XX.X% from margins were XXXX.
over adjusted impact period. fourth the increased X.X% exchange the in the translations, year foreign quarter prior of Excluding EBITDA
driven incentive million year was Excluding sales The XX.X% of due revenue, parts the to compared SG&A primarily $XX.X service of were charges, quarter driven quarter year-over-year the the million increase in the up several and the million engine sales shipment Power by EBITDA and last the segment, prior-year past, segment higher higher was and aftermarket million $XX.X increase quarter to Systems impact in by $X.X engine that Segment period. the sales in In $XX EDF of fourth was higher fourth fourth cost restructuring on in the compensation over activity XXXX. zero margin $X.X prior This MOX expense. sales year-over-year naval programs. was period. adjusted the discussed the increased we in from largely higher up million
foreign fourth in the increased fourth quarter the adjusted versus quarter XXXX XX% of in on exchange contract year EBITDA impact XXXX, the both and period. Excluding EDF the prior
balance as capital XX way maintaining cost period. a I a our associated of of year-over-year our lower drive strong want uses marketing the sales incentive Excluding million capital to deploying our company's to by partially last were and fourth we to compared value OP commitment quarter with restructuring balanced growth the segment offset The compensation of prior-year expenses. costs, to increase sheet in was the Slide major long-term SG&A in million the slightly company. year. disciplined expenses the due $X.X during and to launch fourth Trident quarter summarizes commercial our in and $X.X higher reiterate in
funding a ACRP contributed trust related U.S.-asbestos to the we $XXX,XXX. than differed our to $XX.X which true-up First, contingent obligations satisfies estimated be around payment other million
asbestos As further related Steve noted, we have no liability.
Second, total the for acquisition $X Vehicle completed of million. a Commercial approximately in we of Components October investment
to investment with serve strengthening markets a our in position was the that we our underscores this commitment propitiatory While technology. small
software facilities our including XX% Third, for about equates full-year. we total $XX.X invested plant our million the capital of in which spending to
was quarter and improved fourth quarters efficiency three the the in to compared spending three driven of growth all first by the of year higher number segments. across investments Our our of
quarterly a and of a paid we fourth this year. Finally the $X.X $X.XX to dividend $X.XX X.X% morning million quarter announced this share totaling per our increase or per share starting March we in in dividend
make repurchases million. that $XX.X Board in During fourth-quarter, Through plans the quarter, new of nor duration authorized either shares by we prior the repurchase XX. any under $XX total share the million of XXX,XXX the fourth repurchase not we prior did expired program, under program a the repurchased October the for share the on
in our of quarters, end XX we on previous the the As quarter. net ratio consolidated and Slide leverage outlined debt fourth at
forma of you can ratio EBITDA. month the see, As X.X was at trailing leverage end adjusted our times the approximately quarter pro XX
For this $XX would approximately you receivables please have insurance estimate million X.X We this the be to ratio realize in calls, calculation not the table XXXX expect will leverage chart are times. of million we of know have $XX tax to amount funding full insurance benefit, in this approximate this the in those to as we our the who include our asbestos-related be that million be note at asbestos-related in detailed $XX received limiting this that approximately prior chart related year. benefit been reviewing year. trust been of the does end to this refund The ACRP that Including leverage the XX-K. will we
some Before on thoughts call liquidity. balance year, to Steve provide trying and will back the for closing to sheet our I discuss outlook our to
tax will Our $XXX essentially cash U.S. we enhances million, investment evaluating the resided flexibility reform cash. months implications reform the permanent tax of outside the in of this the use on In and was XX which be this overseas how our balance at December of approximately cash coming all
the action benefit trust in XX-year previous end of conjunction by current the the $XX related carryback of connection million with return. also ACRP taking total anticipate tax calls, we As an of created the to discussed of on last loss refund the our Based earnings estimated receiving loss with be funding. the year XXXX will on our related falling estimates, tax reform we net in charge, realize
They These of and generated combined in Also approximately carryback $XX as in expect receive the which of XXXX mentioned to periods taxes repatriation tax million U.S. form ACRP we shareholders. will foreign change however allow significant reduced capital ACRP us to drive the foreign million benefit previously, manner stem do credits. and operations approximately to items of recoveries. our and Currently the be more XXXX, through completion reform from earnings of insurance aggressive in about reduction from way $XX growth we use where but and cost Beyond related future capital over think restructuring the across they Engineered a tax deemed reduction an are and with not additional deployment. three strategic past other our in segments framework been years pursuing and and in of all disciplined measures. partnerships, we are our to has growth of investments efficiencies, including deploying the Products capital balanced initiatives primarily a cost focus in acquisitions variety returns through on
the our shareholders We capital of also just anticipate expectations and share progresses. dividend a returning evidenced measured as by repurchases announced increase as to for year portion the
Now, to the turn back call I’ll Steve.
