EX-99.2 3 ecl-20250328xex99d2.htm EX-99.2

Exhibit 99.2

ECOLAB INC.

SUPPLEMENTAL REPORTABLE SEGMENT INFORMATION AND NON-GAAP RECONCILIATION

2024 REVISED SEGMENT DATA AT 2025 FIXED CURRENCY EXCHANGE RATES

(unaudited)

(millions)

2024

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

Twelve Months

Ended

Ended

Ended

Ended

Ended

March 31

June 30

September 30

December 31

December 31

Net Sales

Global Water

$1,755.0

$1,863.2

$1,897.6

$1,967.6

$7,483.4

Global Institutional & Specialty

 

1,446.9

1,548.1

1,525.7

1,458.7

5,979.4

Global Life Sciences

159.3

169.8

161.7

179.7

670.5

Global Pest Elimination

 

260.3

290.2

301.7

287.9

1,140.1

Corporate

-

-

-

-

-

Subtotal at fixed currency rates

 

3,621.5

3,871.3

3,886.7

3,893.9

15,273.4

Effect of foreign currency translation

 

130.4

114.5

111.8

111.3

468.0

Total reported GAAP net sales

 

$3,751.9

$3,985.8

$3,998.5

$4,005.2

$15,741.4

    

Cost of Sales

Global Water

$1,050.5

$1,109.8

$1,137.3

$1,173.3

$4,470.9

Global Institutional & Specialty

 

770.6

803.5

798.4

758.5

3,131.0

Global Life Sciences

84.6

98.5

92.5

107.0

382.6

Global Pest Elimination

 

147.5

160.3

168.0

164.0

639.8

Corporate

 

1.6

0.7

0.9

2.0

5.2

Total at fixed currency rates

 

$2,054.8

$2,172.8

$2,197.1

$2,204.8

$8,629.5

Selling, General and Administrative Expenses

Global Water

$460.9

$464.8

$435.5

$444.1

$1,805.3

Global Institutional & Specialty

 

418.9

415.1

399.7

412.5

1,646.2

Global Life Sciences

55.4

54.3

45.3

41.1

196.1

Global Pest Elimination

 

66.3

69.9

73.2

81.2

290.6

Corporate

 

48.9

49.0

49.3

48.4

195.6

Total at fixed currency rates

 

$1,050.4

$1,053.1

$1,003.0

$1,027.3

$4,133.8

Special (Gains) and Charges

Corporate

 

$28.3

$12.2

($332.6)

$103.4

($188.7)

Total at fixed currency rates

 

$28.3

$12.2

($332.6)

$103.4

($188.7)

Operating Income

Global Water

$243.6

$288.6

$324.8

$350.2

$1,207.2

Global Institutional & Specialty

 

257.4

329.5

327.6

287.7

1,202.2

Global Life Sciences

19.3

17.0

23.9

31.6

91.8

Global Pest Elimination

 

46.5

60.0

60.5

42.7

209.7

Corporate

 

(78.8)

(61.9)

282.4

(153.8)

(12.1)

Subtotal at fixed currency rates

 

488.0

633.2

1,019.2

558.4

2,698.8

Effect of foreign currency translation

 

29.9

23.7

25.6

24.4

103.6

Total reported GAAP operating income

 

$517.9

$656.9

$1,044.8

$582.8

$2,802.4

Notes:

ASU 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures is effective for interim periods within fiscal years beginning after December 15, 2024, as such, interim segment data related to significant segment expenses have not yet been presented by the Company.

We evaluate the performance of our non-U.S. dollar functional currency international operations based on fixed currency exchange rates, which eliminate the impact of exchange rate fluctuations on our international operations. Fixed currency amounts are updated annually at the beginning of each year based on translation into U.S. dollars at foreign currency exchange rates established by management, with all periods presented using such rates. The difference between the fixed currency exchange rates and the actual currency exchange rates is reported within the "Effect of foreign currency translation" rows in the table above for net sales and operating income.


The table also reflects the other changes between reportable segments noted in Exhibit 99.1 including the movement of the healthcare operating segment into the Institutional operating segment and the immaterial movement of certain customers and cost allocations.

The above table includes financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (“GAAP”), including fixed currency sales, fixed currency cost of sales, fixed currency selling, general and administrative expenses, fixed currency special (gains) and charges, and fixed currency operating income. We provide these measures as additional information regarding our operating results. We use these non-GAAP measures internally to evaluate our performance and in making financial and operational decisions, including with respect to incentive compensation. We believe that our presentation of these measures provides investors with greater transparency with respect to our results of operations and that these measures are useful for period-to-period comparison of results. These non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and may be different from non-GAAP measures used by other companies. Investors should not rely on any single financial measure when evaluating our business. We recommend that investors view these measures in conjunction with the GAAP measures included in the table.