The following table presents the calculation for ROWC, ROCE and WC velocity.
| Q4 FY 13 | Q4 FY 12 | 12M FY 13 | ||||||||||||||
| Sales |
|
6,590,703 | 6,307,386 | 25,458,924 | ||||||||||||
| Sales, annualized | (a) | 26,362,812 | 25,229,543 | 25,458,924 | ||||||||||||
| Adjusted operating income (1) |
|
222,671 | 233,110 | 775,482 | ||||||||||||
| Adjusted operating income, annualized | (b) | 890,684 | 935,639 | 775,482 | ||||||||||||
| Adjusted effective tax rate (2) |
|
27.35 | % | 29.43 | % | 27.35 | % | |||||||||
| Adjusted operating income, net after tax | (c) | 647,082 | 660,281 | 563,387 | ||||||||||||
| Average monthly working capital | ||||||||||||||||
| Accounts receivable |
|
4,664,011 | 4,517,821 | 4,579,074 | ||||||||||||
| Inventory |
|
2,353,662 | 2,502,535 | 2,392,535 | ||||||||||||
| Accounts payable |
|
(3,139,471 | ) | (3,076,214 | ) | (3,080,372 | ) | |||||||||
| Average working capital | (d) | 3,878,202 | 3,944,142 | 3,891,237 | ||||||||||||
| Average monthly total capital | (e) | 5,356,288 | 5,266,810 | 5,313,705 | ||||||||||||
| ROWC = (b) / (d) |
|
22.97 | % | 23.72 | % | 19.93 | % | |||||||||
| WC Velocity = (a) / (d) |
|
6.80 | 6.40 | 6.54 | ||||||||||||
| ROCE = (c ) / (e) |
|
12.08 | % | 12.54 | % | 10.60 | % | |||||||||
|
(1) |
See reconciliation to GAAP amounts in the preceding tables in this Non-GAAP Financial Information Section. |
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|
(2) |
Adjusted effective tax rate is based upon a year-to-date calculation excluding restructuring, integration and other charges and tax adjustments as described in the reconciliation to GAAP amounts in this Non-GAAP Financial Information Section. |
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