EX-99.2 3 ecl-20260327xex99d2.htm EX-99.2

Exhibit 99.2

ECOLAB INC.

SUPPLEMENTAL REPORTABLE SEGMENT INFORMATION AND NON-GAAP RECONCILIATION

2025 REVISED SEGMENT DATA AT 2026 FIXED CURRENCY EXCHANGE RATES

(unaudited)

(millions)

2025

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

$1,899.5

$2,014.9

$2,061.0

$2,132.3

$8,107.7

Global Institutional & Specialty

 

1,454.8

1,562.5

1,596.0

1,551.5

6,164.8

Global Pest Elimination

287.4

321.2

332.7

317.5

1,258.8

Global Life Sciences

 

181.4

191.4

185.2

209.1

767.1

Subtotal at fixed currency rates

 

3,823.1

4,090.0

4,174.9

4,210.4

16,298.4

Effect of foreign currency translation

 

(128.1)

(64.8)

(9.9)

(14.4)

(217.2)

Total reported GAAP net sales

 

$3,695.0

$4,025.2

$4,165.0

$4,196.0

$16,081.2

  ​ ​ ​

Cost of Sales

Global Water

$1,131.1

$1,206.1

$1,226.9

$1,274.0

$4,838.1

Global Institutional & Specialty

 

731.4

769.4

794.0

793.2

3,088.0

Global Pest Elimination

166.9

181.6

184.3

175.0

707.8

Global Life Sciences

 

97.4

100.1

100.7

114.9

413.1

Corporate

 

4.8

2.5

0.3

0.1

7.7

Total at fixed currency rates

 

$2,131.6

$2,259.7

$2,306.2

$2,357.2

$9,054.7

Selling, General and Administrative Expenses

Global Water

$489.7

$479.1

$476.2

$467.1

$1,912.1

Global Institutional & Specialty

 

415.0

425.0

425.7

413.0

1,678.7

Global Pest Elimination

72.8

77.1

78.9

77.6

306.4

Global Life Sciences

 

53.0

51.1

50.7

55.1

209.9

Corporate

 

49.6

49.2

50.2

50.4

199.4

Total at fixed currency rates

 

$1,080.1

$1,081.5

$1,081.7

$1,063.2

$4,306.5

Special (Gains) and Charges

Corporate

 

$29.1

$24.3

$24.3

$72.6

$150.3

Total at fixed currency rates

 

$29.1

$24.3

$24.3

$72.6

$150.3

Operating Income

Global Water

$278.7

$329.7

$357.9

$391.2

$1,357.5

Global Institutional & Specialty

 

308.4

368.1

376.3

345.3

1,398.1

Global Pest Elimination

47.7

62.5

69.5

64.9

244.6

Global Life Sciences

 

31.0

40.2

33.8

39.1

144.1

Corporate

 

(83.5)

(76.0)

(74.8)

(123.1)

(357.4)

Subtotal at fixed currency rates

 

582.3

724.5

762.7

717.4

2,786.9

Effect of foreign currency translation

 

(27.0)

(14.4)

(2.5)

(5.4)

(49.3)

Total reported GAAP operating income

 

$555.3

$710.1

$760.2

$712.0

$2,737.6

Notes:

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 immaterial changes between reportable segments noted in Exhibit 99.1 including the 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.