Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Hubbell Inc., adjusted current assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	2,021,400)	1,879,300)	1,587,600)	1,574,200)	1,643,700)
Adjustments
Add: Allowance for doubtful accounts	14,300)	10,600)	12,500)	7,700)	4,800)
Add: Excess of FIFO over LIFO cost basis¹	187,000)	136,900)	87,300)	89,800)	81,800)
After Adjustment
Adjusted current assets	2,222,700)	2,026,800)	1,687,400)	1,671,700)	1,730,300)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Excess of FIFO over LIFO cost basis. See details »

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Hubbell Inc., adjusted total assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	5,402,600)	5,281,500)	5,085,100)	4,903,000)	4,872,100)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	98,835)
Add: Allowance for doubtful accounts	14,300)	10,600)	12,500)	7,700)	4,800)
Add: Excess of FIFO over LIFO cost basis²	187,000)	136,900)	87,300)	89,800)	81,800)
Less: Non-current tax assets (included in Other long-term assets)³	5,500)	5,200)	5,100)	6,200)	6,400)
After Adjustment
Adjusted total assets	5,598,400)	5,423,800)	5,179,800)	4,994,300)	5,051,135)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Excess of FIFO over LIFO cost basis. See details »

³ Non-current tax assets (included in Other long-term assets). See details »

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Hubbell Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	1,088,500)	1,065,200)	948,200)	844,900)	839,300)
Adjustments
Less: Current contract liabilities, deferred revenue	45,800)	16,700)	30,900)	31,000)	27,700)
Less: Accrued warranties current	20,200)	36,700)	28,700)	24,000)	33,500)
After Adjustment
Adjusted current liabilities	1,022,500)	1,011,800)	888,600)	789,900)	778,100)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Hubbell Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	3,032,000)	3,040,800)	2,999,700)	2,942,500)	3,073,200)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	98,835)
Less: Non-current tax liabilities²	113,800)	114,700)	135,300)	126,800)	120,000)
Less: Contract liabilities, deferred revenue	45,800)	16,700)	30,900)	31,000)	27,700)
Less: Accrued warranties	46,200)	66,100)	80,500)	82,100)	92,700)
Less: Accrued liabilities for restructuring actions	7,900)	4,200)	10,600)	17,400)	21,000)
After Adjustment
Adjusted total liabilities	2,818,300)	2,839,100)	2,742,400)	2,685,200)	2,910,635)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Non-current tax liabilities. See details »

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Hubbell Inc., adjusted total Hubbell Incorporated shareholders’ equity

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total Hubbell Incorporated shareholders’ equity	2,360,900)	2,229,800)	2,070,000)	1,947,100)	1,780,600)
Adjustments
Less: Net deferred tax asset (liability)¹	(108,300)	(109,500)	(130,200)	(120,600)	(113,600)
Add: Allowance for doubtful accounts	14,300)	10,600)	12,500)	7,700)	4,800)
Add: Excess of FIFO over LIFO cost basis²	187,000)	136,900)	87,300)	89,800)	81,800)
Add: Contract liabilities, deferred revenue	45,800)	16,700)	30,900)	31,000)	27,700)
Add: Accrued warranties	46,200)	66,100)	80,500)	82,100)	92,700)
Add: Accrued liabilities for restructuring actions	7,900)	4,200)	10,600)	17,400)	21,000)
Add: Noncontrolling interest	9,700)	10,900)	15,400)	13,400)	18,300)
After Adjustment
Adjusted total equity	2,780,100)	2,584,700)	2,437,400)	2,309,100)	2,140,500)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Net deferred tax asset (liability). See details »

² Excess of FIFO over LIFO cost basis. See details »

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Hubbell Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Short-term debt and current portion of long-term debt	4,700)	9,700)	153,100)	65,400)	56,100)
Long-term debt, excluding current portion	1,437,900)	1,435,500)	1,436,900)	1,506,000)	1,737,100)
Total reported debt	1,442,600)	1,445,200)	1,590,000)	1,571,400)	1,793,200)
Total Hubbell Incorporated shareholders’ equity	2,360,900)	2,229,800)	2,070,000)	1,947,100)	1,780,600)
Total reported capital	3,803,500)	3,675,000)	3,660,000)	3,518,500)	3,573,800)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	98,835)
Add: Current operating lease liabilities²	30,500)	27,100)	32,100)	29,600)	—)
Add: Non-current operating lease liabilities³	84,900)	58,300)	74,900)	71,700)	—)
Adjusted total debt	1,558,000)	1,530,600)	1,697,000)	1,672,700)	1,892,035)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(108,300)	(109,500)	(130,200)	(120,600)	(113,600)
Add: Allowance for doubtful accounts	14,300)	10,600)	12,500)	7,700)	4,800)
Add: Excess of FIFO over LIFO cost basis⁵	187,000)	136,900)	87,300)	89,800)	81,800)
Add: Contract liabilities, deferred revenue	45,800)	16,700)	30,900)	31,000)	27,700)
Add: Accrued warranties	46,200)	66,100)	80,500)	82,100)	92,700)
Add: Accrued liabilities for restructuring actions	7,900)	4,200)	10,600)	17,400)	21,000)
Add: Noncontrolling interest	9,700)	10,900)	15,400)	13,400)	18,300)
Adjusted total equity	2,780,100)	2,584,700)	2,437,400)	2,309,100)	2,140,500)
After Adjustment
Adjusted total capital	4,338,100)	4,115,300)	4,134,400)	3,981,800)	4,032,535)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Non-current operating lease liabilities. See details »

⁴ Net deferred tax asset (liability). See details »

⁵ Excess of FIFO over LIFO cost basis. See details »

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Hubbell Inc., adjusted net sales

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net sales	4,947,900)	4,194,100)	4,186,000)	4,591,000)	4,481,700)
Adjustment
Add: Increase (decrease) in contract liabilities, deferred revenue	29,100)	(13,100)	(100)	3,300)	17,500)
After Adjustment
Adjusted net sales	4,977,000)	4,181,000)	4,185,900)	4,594,300)	4,499,200)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Hubbell Inc., adjusted net income attributable to Hubbell Incorporated

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net income attributable to Hubbell Incorporated	545,900)	399,500)	351,200)	400,900)	360,200)
Adjustments
Add: Deferred income tax expense (benefit)¹	(27,800)	9,200)	3,300)	6,100)	49,000)
Add: Increase (decrease) in allowance for doubtful accounts	3,700)	—)	4,800)	2,900)	200)
Add: Increase (decrease) in LIFO reserve²	50,100)	56,800)	(2,500)	8,000)	20,200)
Add: Increase (decrease) in contract liabilities, deferred revenue	29,100)	(13,100)	(100)	3,300)	17,500)
Add: Increase (decrease) in accrued warranties	(19,900)	(6,600)	(1,600)	(10,600)	78,700)
Add: Increase (decrease) in accrued liabilities for restructuring actions	3,700)	(4,000)	(6,800)	(3,600)	100)
Less: Income from discontinued operations, net of tax	34,600)	34,500)	—)	—)	—)
Add: Other comprehensive income (loss)	(14,400)	(1,600)	3,700)	(17,200)	(15,900)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	5,500)	6,100)	4,800)	6,500)	5,900)
After Adjustment
Adjusted net income	541,300)	411,800)	356,800)	396,300)	515,900)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Hubbell Inc. (NYSE:HUBB)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income