UL Solutions Inc.

NYSE-ULS

Income Statement	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues	2,315	2,301	2,517	2,520	2,678	2,760
Total Revenues % Chg.	—	-0.6%	9.4%	0.1%	6.3%	7.4%
Cost of Goods Sold, Total	1,280	1,270	1,338	1,313	1,398	1,426
Gross Profit	1,035	1,031	1,179	1,207	1,280	1,334
Selling General & Admin Expenses, Total	723	700	922	813	883	912
Other Operating Expenses, Total	723	700	922	813	883	912
Operating Income	312	331	257	394	397	422
Interest Expense, Total	-1	-1	-1	-17	-35	-47
Interest And Investment Income	—	—	7	1	12	11
Net Interest Expenses	-1	-1	6	-16	-23	-36
Income (Loss) On Equity Invest.	3	3	11	2	1	1
Currency Exchange Gains (Loss)	-8	-16	-2	-11	-2	-12
Other Non Operating Income (Expenses)	—	2	2	5	3	21
EBT, Excl. Unusual Items	306	319	274	374	376	396
Merger & Related Restructuring Charges	—	—	—	-13	—	—
Impairment of Goodwill	—	—	—	—	-37	-37
Gain (Loss) On Sale Of Investments	13	14	—	22	7	2
EBT, Incl. Unusual Items	319	333	274	383	346	361
Income Tax Expense	62	90	36	74	70	76
Earnings From Continuing Operations	257	243	238	309	276	285
Minority Interest	-11	-12	-14	-16	-16	-17
Net Income	246	231	224	293	260	268
Net Income to Common Incl Extra Items	246	231	224	293	260	268
Net Income to Common Excl. Extra Items	246	231	224	293	260	268
Total Shares Outstanding	—	—	200	200	200	200
Weighted Avg. Shares Outstanding	—	—	36.8	200	200	200
Weighted Avg. Shares Outstanding Dil	—	—	36.8	200	200	200.5
EPS	—	—	6.1	1.5	1.3	1.3
EPS Diluted	—	—	6.1	1.5	1.3	1.3
EBITDA	408	427	354	486	500	533
Effective Tax Rate	19.4%	27%	13.1%	19.3%	20.2%	21.1%