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Nvent Electric Plc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Our debt agreements contain certain financial covenants, the most restrictive of which are in the Senior Credit Facilities, including that we may not permit (i) the ratio of our consolidated debt (net of our consolidated unrestricted cash in excess of $5.0 million but not to exceed $250.0 million) to our consolidated net income (excluding, among other things, non-cash gains and losses) before interest, taxes, depreciation, amortization and non-cash share-based compensation expense ("EBITDA") on the last day of any period of four consecutive fiscal quarters (each, a "testing period") to exceed 3.75 to 1.00 (or, at nVent Finance's election and subject to certain conditions, 4.25 to 1.00 for four testing periods in connection with certain material acquisitions) and (ii) the ratio of our EBITDA to our consolidated interest expense for the same period to be less than 3.00 to 1.00.
An increase in the valuation allowance could result in additional income tax expense in such period and could have a significant impact on our future earnings.
In 2022, our operating objectives include the following: Executing our ESG strategy focused on People, Products and Planet; Enhancing and supporting employee engagement, development and retention; Achieving differentiated revenue growth through new products and innovation and expansion in higher growth verticals across all regions globally; Optimizing our technological capabilities to increasingly generate innovative new and connected products and advance digital transformation; Driving operational excellence through lean and agile, with specific focus on our digital transformation and supply chain resiliency; Optimizing working capital through inventory reduction initiatives across business segments and focused actions to optimize customer and vendor payment terms; and Deploying capital strategically to drive growth and value creation.
We consider an accounting estimate to be critical if: it requires us to make assumptions about matters that were uncertain at the time we were making the estimate; and changes in the estimate or different estimates that we could have selected would have had a material impact on our financial condition or results of operations.
While we believe that a material impact on our consolidated financial position, results of operations or cash flows from any such future claims or potential claims is unlikely, given the inherent uncertainty of litigation, a remote possibility exists that a future adverse ruling or unfavorable development could result in future charges that could have a material impact.
While we have taken pricing...Read more
Thermal Management The net sales...Read more
Determining the fair value of...Read more
We are focused on increasing...Read more
Segment income The components of...Read more
This increase was partially offset...Read more
This increase was partially offset...Read more
This increase was partially offset...Read more
Gross profit The 0.8 percentage...Read more
Enclosures The net sales and...Read more
Share repurchases On July 23,...Read more
While our facilities remained operational...Read more
NEW ACCOUNTING STANDARDS See ITEM...Read more
As our business has seen...Read more
Revenues and operating profit beyond...Read more
A 0.25 percentage point change...Read more
Electrical & Fastening Solutions The...Read more
We offer a comprehensive range...Read more
We are positioning our businesses...Read more
Identifiable intangible assets Our primary...Read more
The six year growth rates...Read more
Inherent in these valuations are...Read more
organic sales growth contribution of...Read more
CONSOLIDATED RESULTS OF OPERATIONS The...Read more
Mark-to-market adjustments resulted in a...Read more
On February 19, 2019, the...Read more
On May 14, 2021, the...Read more
We record penalties and interest...Read more
If payment of these amounts...Read more
This decrease was partially offset...Read more
Segment income The components of...Read more
Segment income represents operating income...Read more
There was no impairment expense...Read more
Our organic sales increased 18%...Read more
As noted below, in 2021,...Read more
The following table is a...Read more
On February 21, 2022, the...Read more
Distributable reserves may be created...Read more
Future tax rate or law...Read more
These assumptions require significant judgment...Read more
Selling, general and administrative ("SG&A")...Read more
The total gross liability for...Read more
Borrowings under the Senior Credit...Read more
Discount rates The discount rate...Read more
In estimating future taxable income,...Read more
Our income tax expense recorded...Read more
Segment income The components of...Read more
In 2020, we recognized a...Read more
CRITICAL ACCOUNTING ESTIMATES We have...Read more
If such subsidiaries are unable...Read more
Any difference in the expected...Read more
As of December 31, 2021,...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Nvent Electric Plc provided additional information to their SEC Filing as exhibits
Ticker: NVT
CIK: 1720635
Form Type: 10-K Annual Report
Accession Number: 0001720635-22-000009
Submitted to the SEC: Fri Feb 25 2022 10:55:16 AM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Special Industry Machinery No Metalworking Machinery