ITRON, INC. (ITRI) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Water								519.4
Other								1,364.1
Total revenues [+]	1,795.6	1,981.6	2,173.4	2,502.5	2,376.1	2,018.2	2,013.2	1,883.5
Products								1,699.5
Services								184.0
Revenue growth [+]	-9.4%	-8.8%	-13.2%	5.3%	17.7%	0.2%	6.9%	-3.3%
Water								-9.9%
Cost of goods sold [+]	1,273.4	1,408.4	1,571.2	1,750.2	1,645.8	1,341.4	1,350.7	1,326.8
Cost of product sales								1,216.7
Cost of services								110.1
Gross profit	522.2	573.2	602.2	752.3	730.3	676.8	662.5	556.7
Gross margin	29.1%	28.9%	27.7%	30.1%	30.7%	33.5%	32.9%	29.6%
Selling, general and administrative [+]	328.4	339.7	313.6	380.5	464.8	355.8	346.8	342.5
Sales and marketing	290.5	300.5	276.9	346.9	423.2	325.3		161.4
General and administrative	37.9	39.2	36.7	33.6	41.5	30.5		155.7
Other selling, general and administrative	290.5	300.5	276.9	346.9	423.2	325.3		25.4
Research and development	185.1	197.2	194.1	202.2	207.9	169.4	167.8	162.3
Other operating expenses	-12.2	-3.4	8.0	30.7	30.2	-9.7	-2.2	6.3
EBITDA [+]	87.7	123.8	183.7	253.4	150.0	224.5	218.4	121.6
EBITDA growth	-29.2%	-32.6%	-27.5%	68.9%	-33.2%	2.8%	79.6%	-17.9%
EBITDA margin	4.9%	6.2%	8.5%	10.1%	6.3%	11.1%	10.8%	6.5%
Depreciation	41.0	48.4	52.6	50.1	50.8	42.4	43.2	44.3
EBITA	46.6	75.4	131.1	203.2	99.2	182.1	175.2	77.3
EBITA margin	2.6%	3.8%	6.0%	8.1%	4.2%	9.0%	8.7%	4.1%
Amortization of intangibles	25.7	35.8	44.7	64.3	71.7	20.8	25.1	31.7
EBIT [+]	20.9	39.6	86.4	139.0	27.5	161.3	150.1	45.6
EBIT growth	-47.2%	-54.2%	-37.8%	405.5%	-83.0%	7.5%	229.3%	-8.8%
EBIT margin	1.2%	2.0%	4.0%	5.6%	1.2%	8.0%	7.5%	2.4%
Non-recurring items [+]	28.4	118.9	96.8	6.3	77.2	6.4	49.1	-7.3
Asset impairment	38.5
Interest expense, net [+]	4.1	27.1	41.0	50.6	56.1	11.7	12.7	11.5
Interest expense	6.7	28.6	44.0	52.5	58.2	13.8	13.5	12.3
Interest income	2.6	1.6	3.0	1.8	2.2	2.1	0.9	0.8
Other income (expense), net [+]	-4.2	-17.4	-5.2	-9.0	-3.4	-8.6	-3.7	-4.2
Other	-4.2	-17.4	-5.2	-9.0	-3.4	-8.6	-3.7	-4.2
Pre-tax income	-15.7	-123.8	-56.6	73.0	-109.2	134.6	84.6	37.1
Income taxes	-6.2	-45.5	0.2	20.6	-12.6	74.3	49.6	22.1
Tax rate	39.4%	36.8%		28.2%	11.5%	55.2%	58.6%	59.6%
Minority interest	0.2	3.0	1.1	3.4	2.7	3.0	3.3	2.3
Net income	-9.7	-81.3	-58.0	49.0	-99.3	57.3	31.8	12.7
Net margin	-0.5%	-4.1%	-2.7%	2.0%	-4.2%	2.8%	1.6%	0.7%

Basic EPS [+]	($0.22)	($1.83)	($1.44)	$1.24	($2.53)	$1.48	$0.83	$0.33
Growth	-88.2%	27.4%	-216.2%	-149.0%	-270.6%	78.3%	150.7%	-154.9%
Diluted EPS [+]	($0.22)	($1.83)	($1.44)	$1.23	($2.53)	$1.45	$0.82	$0.33
Growth	-88.2%	27.4%	-217.5%	-148.5%	-273.8%	76.9%	149.7%	-154.5%

Shares outstanding (basic) [+]	45.1	44.3	40.3	39.6	39.2	38.7	38.2	38.2
Growth	1.8%	10.1%	1.8%	0.8%	1.5%	1.2%	0.0%	-2.4%
Shares outstanding (diluted) [+]	45.1	44.3	40.3	40.0	39.2	39.4	38.6	38.5
Growth	1.8%	10.1%	0.7%	1.9%	-0.4%	1.9%	0.4%	-1.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.