Snapshot
($ amounts in millions unless otherwise noted) Year Ended December 31
2023 2022 2021
Net sales 2,333.2 2,549.4 2,399.8
Gross profit 918.5 952.7 960.8
EBITDA 345.1 484.5 469.8
Adjusted EBITDA 482.3 526.6 524.9
Net income attributable to common stockholders 118.2 187.2 203.3
Adjusted common shares outstanding (average) 243.9 246.7 251.4
Adjusted earnings per share $1.29 $1.41 $1.38
Change in accounts receivable (6.8) 6.4 (48.7)
Change in inventory (9.5) (31.2) (46.5)
Change in accounts payable 0.3 (0.1) 16.8
Capital expenditures 52.7 47.8 46.3
Proceeds from disposal of property, plant and equipment 1.4 4.8 -
Cash paid for interest 56.1 46.9 50.6
Cash paid for income taxes 73.7 66.5 71.2
Reported net sales growth (%) -8% 6% 29%
Organic net sales growth (%) -5% 5% 13%
Gross margin (%) 39% 37% 40%
Adjusted EBITDA margin (%) 21% 21% 22%
Capital expenditures as a % of net sales 2% 2% 2%
Segment Financials
Electronics
Net sales 1,414.7 1,604.1 1,582.5
Gross profit 558.2 594.1 617.5
Adjusted EBITDA 317.7 362.1 372.0
Reported net sales growth (%) -12% 1% 35%
Organic net sales growth (%) -7% 5% 13%
Gross margin (%) 40% 37% 39%
Adjusted EBITDA margin (%) 23% 23% 24%
Industrial & Specialty
Net sales 918.5 945.3 817.3
Gross profit 360.3 358.6 343.3
Adjusted EBITDA 164.6 164.5 152.8
Reported net sales growth (%) -2% 16% 20%
Organic net sales growth (%) -2% 5% 13%
Gross margin (%) 39% 40% 42%
Adjusted EBITDA margin (%) 18% 17% 19%

Note: This selected data is for information only. For complete consolidated financial statements and important risks that may affect actual results, see SEC Filings.