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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
                                   

FORM 8-K
                                   

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):  November 1, 2024
                                   

INTERFACE INC  
(Exact name of Registrant as Specified in its Charter)
Georgia 001-33994 58-1451243
(State or other Jurisdiction of Incorporation or Organization) (Commission File
Number)		 (IRS Employer
Identification No.)
1280 West Peachtree Street NWAtlantaGeorgia30309
(Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code:  (770) 437-6800

Not Applicable 
(Former name or former address, if changed since last report)
Securities Registered Pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, $0.10 Par Value Per ShareTILENasdaq Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company       ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ¨





Item 2.02     Results of Operations and Financial Condition

On November 1, 2024, Interface, Inc. (the “Company”) issued a press release reporting its financial results for the third quarter of 2024 (the “Earnings Release”). A copy of the Earnings Release is included as Exhibit 99.1 hereto and hereby incorporated by reference. The information set forth in this Item 2.02, including the exhibit hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Non-GAAP Financial Measures in the Earnings Release

The Earnings Release includes, as additional information for investors, the Company’s adjusted earnings per share, adjusted net income, adjusted operating income ("AOI"), adjusted gross profit, adjusted gross profit margin, adjusted selling, general and administrative (“SG&A”) expenses, currency neutral sales and currency neutral sales growth, net debt, and adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”). These measures are not in accordance with financial measures calculated in accordance with generally accepted accounting principles in the United States (“GAAP”) and may be different from similarly titled non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be used as a substitute for, or considered superior to, GAAP financial measures.

Adjusted EPS, adjusted net income, and AOI exclude nora purchase accounting amortization, the cyber event impact, and restructuring, asset impairment, severance, and other, net. Adjusted EPS and adjusted net income also exclude the property casualty loss impact, the loss on foreign subsidiary liquidation, and the loss on the discontinuance of interest rate swaps. Adjusted gross profit and adjusted gross profit margin exclude nora purchase accounting amortization. Adjusted SG&A expenses exclude the cyber event impact and restructuring, asset impairment, severance, and other, net.

Currency neutral sales and currency neutral sales growth exclude the impact of foreign currency fluctuations. Net debt is total debt less cash on hand. Adjusted EBITDA is GAAP net income excluding interest expense, income tax expense, depreciation and amortization, share-based compensation expense, cyber event impact, property casualty loss impact, restructuring, asset impairment, severance, and other, net, nora purchase accounting amortization, and the loss on foreign subsidiary liquidation.

Because the Company engages in acquisitions only episodically, and not as an everyday matter, the Company believes presenting certain measures excluding the effects of acquisitions facilitates focus on normal ongoing operations. The Company also believes presenting sales information absent the effect of foreign currency exchange rate fluctuations facilitates comparison of the Company’s operational performance between periods.

The Company generally believes reporting its adjusted results helps investors’ understanding of historical operating trends, because it facilitates comparison of current and prior periods during which one or more unique events may have occurred. The Company also believes that adjusted results provide supplemental information for comparisons to other companies which may not have experienced the same events underlying the adjustments. Furthermore, the Company uses adjusted results internally as supplemental information to evaluate its own performance, for planning purposes and in connection with its compensation programs.

















Item 7.01     Regulation FD Disclosure

Management of Interface, Inc. (the “Company”) has updated the slide presentation which may be used in whole or in part in meetings with and presentations to investors and potential investors. A copy of the slide presentation is attached as Exhibit 99.2.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.


Item 9.01     Financial Statements and Exhibits

(d) Exhibits.




































SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 INTERFACE, INC.
  
  
By:     
  /s/ Bruce A. Hausmann      
 Bruce A. Hausmann
 Chief Financial Officer
Date:  November 1, 2024 












FOR IMMEDIATE RELEASE            
imagea.jpg
Media Contact:
Christine Needles
Global Corporate Communications
Christine.Needles@interface.com
+1 404-491-4660
Investor Contact:
Bruce Hausmann
Chief Financial Officer
Bruce.Hausmann@interface.com
+1 770-437-6802

Interface Reports Third Quarter 2024 Results
Strong strategy execution drives significant profitability expansion and double-digit order growth

ATLANTA – November 1, 2024 – Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today announced results for the third quarter ended September 29, 2024.

Third quarter highlights:

•Net sales were $344.3 million, up 10.7% year-over-year.
•Gross profit margin increased to 37.1%, up 162 basis points year-over-year.
•GAAP earnings per share of $0.48; Adjusted earnings per share of $0.48.
•Currency-neutral orders up 10% year-over-year.

“We delivered another quarter of strong performance, as our One Interface strategy continues to yield tangible results, including double-digit sales growth and significant profitability expansion. Education billings were up 18% year-over-year in the third quarter. In the Corporate Office segment, our global billings were up 2% year-over-year, outpacing overall industry trends and demonstrating that we are gaining market share. As expected, Retail billings increased in the third quarter compared to soft activity in the prior year,” commented Laurel Hurd, CEO of Interface.

“Effective commercial execution drove double-digit growth in currency-neutral orders in the third quarter. Currency-neutral orders in the Americas were up 17% with growth across all product categories, highlighting the effectiveness of our combined nora and Interface selling teams in the U.S. Currency-neutral orders in EAAA were flat, with increased activity in Asia offset by softness in Australia. Our ability to adapt globally in a dynamic market has enabled us to consistently deliver strong results, gain market share, and grow our business,” concluded Hurd.

“We generated $76.2 million of cash from operations in the third quarter and repaid $51.3 million of debt in the third quarter and $80.9 million year to date. We remain focused on strengthening the balance sheet through debt repayment and utilizing cash to reinvest in growth opportunities across the business,” added Bruce Hausmann, CFO of Interface.


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Third Quarter 2024 Financial Summary

Sales: Third quarter net sales were $344.3 million, up 10.7% versus $311.0 million in the prior year period.

Gross profit margin was 37.1% in the third quarter, an increase of 162 basis points from the prior year period. Adjusted gross profit margin was 37.5%, an increase of 158 basis points from the prior year period primarily due to lower costs driven by raw material cost deflation and lower fixed costs per unit due to higher volume.

Third quarter SG&A expenses were $85.5 million, or 24.8% of net sales, compared to $79.3 million, or 25.5% of net sales in the third quarter last year. Adjusted SG&A expenses were $85.5 million, or 24.8% of net sales, in the third quarter of 2024, compared to $79.2 million, or 25.5% of net sales, in the third quarter last year.

Operating Income: Third quarter operating income was $42.2 million, compared to operating income of $31.0 million in the prior year period. Third quarter 2024 adjusted operating income ("AOI") was $43.5 million versus AOI of $32.4 million in the third quarter of 2023.

Net Income and EPS: On a GAAP basis, the Company recorded net income of $28.4 million in the third quarter of 2024, or $0.48 per diluted share, compared to third quarter 2023 GAAP net income of $9.9 million, or $0.17 per diluted share. Third quarter 2024 adjusted net income was $28.3 million, or $0.48 per diluted share, versus third quarter 2023 adjusted net income of $16.4 million, or $0.28 per diluted share. 

Adjusted EBITDA: In the third quarter of 2024, adjusted EBITDA was $53.7 million. This compares with adjusted EBITDA of $43.7 million in the third quarter of 2023.

First Nine Months of 2024 Summary
Sales: Net sales for the first nine months of 2024 were $980.6 million, up 4.7% versus $936.4 million in the prior year period.

Gross profit margin was 36.8% for the first nine months of 2024, an increase of 282 basis points from the prior year period. Adjusted gross profit margin was 37.2%, an increase of 281 basis points versus the prior year period due primarily to raw material cost deflation and higher average sales prices.

SG&A expenses for the first nine months of 2024 were $255.9 million, or 26.1% of net sales, compared to $251.0 million, or 26.8% of net sales, in the same period last year. Adjusted SG&A expenses were $255.9 million, or 26.1% of net sales, for the first nine months of 2024 compared to $246.3 million, or 26.3% of net sales, in the same period last year.

Operating Income: Operating income for the first nine months of 2024 was $104.8 million, compared to operating income of $69.4 million in the prior year period. AOI was $108.6 million for the first nine months of 2024 versus AOI of $75.4 million in the same period last year.




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Net Income and EPS: On a GAAP basis, the Company recorded net income of $65.2 million in the first nine months of 2024, or $1.11 per diluted share, compared to first nine months of 2023 net income of $25.0 million, or $0.43 per diluted share. Nine-month 2024 adjusted net income was $66.1 million, or $1.13 per diluted share, versus first nine months of 2023 adjusted net income of $34.8 million, or $0.60 per diluted share. 

Adjusted EBITDA: In the first nine months of 2024, adjusted EBITDA was $142.9 million. This compares with adjusted EBITDA of $109.8 million in the prior year period.
Cash and Debt: The Company had cash on hand of $115.6 million and total debt of $337.9 million at the end of the third quarter 2024, compared to $110.5 million of cash and $417.2 million of total debt at the end of fiscal year 2023.


Third Quarter Segment Results
AMS Results:
•Q3 2024 net sales of $210.2 million, up 17.9% versus $178.2 million in the prior year period.
•Q3 2024 orders up 17.1% compared to the prior year period on a currency-neutral basis.
•Q3 2024 operating income was $31.9 million compared to $23.5 million in the prior year period.
•Q3 2024 AOI was $32.2 million versus AOI of $23.3 million in the prior year period.
EAAA Results:
•Q3 2024 net sales of $134.1 million, up 1.0% versus $132.8 million in the prior year period.
•Currency fluctuations had a positive impact on EAAA net sales of approximately $1.6 million (1.2%) compared to the same period last year due to the strengthening of the Euro, Australian dollar, and the British Pound sterling against the U.S. dollar.
•Q3 2024 orders were up 0.4% compared to the prior year period on a currency-neutral basis. Asia was up 8.0%, partially offset by Australia which was down 1.8% and EMEA which was down 0.3%.
•Q3 2024 operating income of $10.3 million compared to $7.5 million in the prior year period.
•Q3 2024 AOI was $11.3 million versus AOI of $9.0 million in the prior year period.

First Nine Months Segment Results
AMS Results:
•Net sales for the first nine months of 2024 were $595.1 million, up 8.4% versus $548.7 million in the prior year period.
•Operating income for the first nine months of 2024 was $76.9 million compared to $57.0 million in the prior year period.
•AOI for the first nine months of 2024 was $77.2 million versus AOI of $58.6 million in the prior year period.
3







EAAA Results:
•Net sales for the first nine months of 2024 were $385.6 million, down 0.5% versus $387.7 million in the prior year period.
•Currency fluctuations had no material impact on EAAA net sales for the first nine months of 2024 compared to the prior year period.
•Operating income for the first nine months of 2024 was $27.9 million compared to $12.4 million in the prior year period.
•AOI for the first nine months of 2024 was $31.4 million versus AOI of $16.8 million in the prior year period.

Outlook

Interface delivered impressive results in the third quarter of 2024 and enters the fourth quarter of 2024 with strong orders and a healthy backlog. As a reminder, the Company's fourth quarter of 2023 adjusted gross profit margin benefited 160 basis points from non-recurring items that reduced the Company's cost of sales in that quarter. Separately, Interface continues to anticipate strong Retail billings in the fourth quarter of 2024, which have slightly lower gross profit margins. With that backdrop in mind, the Company is raising its full year outlook and is now anticipating the following:

For the full fiscal year 2024:

•Net sales of $1.315 billion to $1.325 billion.
•Adjusted gross profit margin of approximately 36.6%.
•Adjusted SG&A expenses of approximately $345 million.
•Adjusted Interest & Other expenses of approximately $27 million.
•An adjusted effective tax rate for the full year of approximately 25.0%.
•Fully diluted weighted average share count of approximately 58.8 million shares.
•Capital expenditures of approximately $37 million.

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Webcast and Conference Call Information

Interface will host a conference call on November 1, 2024, at 8:00 a.m. Eastern Time, to discuss its third quarter 2024 results. The conference call will be simultaneously broadcast live over the Internet.

Listeners may access the conference call live over the Internet at:
https://events.q4inc.com/attendee/509768283, or through the Company's website
at: https://investors.interface.com.

The archived version of the webcast will be available at these sites for one year beginning approximately one hour after the call ends.

Non-GAAP Financial Measures

Interface provides adjusted earnings per share, adjusted net income, adjusted operating income ("AOI"), adjusted gross profit, adjusted gross profit margin, adjusted SG&A expenses, currency- neutral sales and currency-neutral sales growth, net debt, and adjusted EBITDA as additional information regarding its operating results in this press release. These non-GAAP measures are not in accordance with – or alternatives to – GAAP measures, and may be different from non-GAAP measures used by other companies. Adjusted EPS, adjusted net income, and AOI exclude nora purchase accounting amortization, the cyber event impact, and restructuring, asset impairment, severance, and other, net. Adjusted EPS and adjusted net income also exclude the property casualty loss impact, the loss on foreign subsidiary liquidation, and the loss on discontinuance of interest rate swaps. Adjusted gross profit and adjusted gross profit margin exclude nora purchase accounting amortization. Adjusted SG&A expenses exclude the cyber event impact and restructuring, asset impairment, severance, and other, net. Currency-neutral sales and currency-neutral sales growth exclude the impact of foreign currency fluctuations.

Net debt is total debt less cash on hand. Adjusted EBITDA is GAAP net income excluding interest expense, income tax expense, depreciation and amortization, share-based compensation expense, cyber event impact, property casualty loss impact, restructuring, asset impairment, severance, and other, net, nora purchase accounting amortization, and the loss on foreign subsidiary liquidation. This news release should be read in conjunction with the Company's Current Report on Form 8-K furnished today to the U.S. Securities & Exchange Commission, which explains why Interface believes presentation of these non-GAAP measures provides useful information to investors, as well as any additional material purposes for which Interface uses these non-GAAP measures.

About Interface

Interface, Inc. (NASDAQ: TILE) is a global flooring solutions company and sustainability leader, offering an integrated portfolio of carpet tile and resilient flooring products that includes Interface® carpet tile and LVT, nora® rubber flooring, and FLOR® premium area rugs for commercial and residential spaces. Made with purpose and without compromise, Interface flooring brings more sophisticated design, more performance, more innovation, and more climate progress to interior spaces. A decades-long pioneer in sustainability, Interface remains “all in” on becoming a restorative business. Today, the company is focusing on carbon reductions, not offsets, as it works toward achieving its verified science-based targets by 2030 and its goal to become a carbon negative enterprise by 2040.

Learn more about Interface at interface.com and blog.interface.com, nora by Interface at nora.com, FLOR at FLOR.com, and our sustainability journey at interface.com/sustainability.

Follow us on Facebook, Instagram, LinkedIn, X, and Pinterest.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” “should,” “goal,” “aim," “objective,” “seek,” “project,” “estimate,” “target,” “will” and similar expressions. Forward-looking statements in this press release include, without limitation, any projections we make regarding the Company’s full year 2024 under “Outlook” above. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile (“LVT”) or other key raw materials could have a material adverse effect on us", "The market price of our common stock has been volatile and the value of your investment may decline", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "Disruptions to or failures of information technology systems we use could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change and other sustainability matters could lead to unforeseen disruptions to our business operations", "Sales of our principal products have been and may continue to be affected by adverse economic cycles, and effects in the new construction market and renovation market", "Health crisis events, such as epidemics or pandemics, have adversely impacted, and may continue to impact, the economy and disrupt our operations and supply chains, which may have an adverse effect on our results of operations", "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, border closings or other adverse government regulations", "The conflict between Russia and Ukraine and the Israel-Hamas war could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union, could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", and "We face risks associated with litigation and claims".
You should consider any additional or updated information we include under the heading “Risk Factors” in our subsequent quarterly and annual reports.

Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.

- TABLES FOLLOW -
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Consolidated Condensed Statements of Operations (Unaudited)Three Months EndedNine Months Ended
(In thousands, except per share data)9/29/202410/1/20239/29/202410/1/2023
Net Sales$344,270 $311,006 $980,648 $936,380 
Cost of Sales216,645 200,748 620,005 618,463 
   Gross Profit 127,625 110,258 360,643 317,917 
Selling, General & Administrative Expenses85,450 79,273 255,871 251,049 
Restructuring, asset impairment and other gains, net— — — (2,502)
   Operating Income42,175 30,985 104,772 69,370 
Interest Expense5,721 8,163 18,317 24,986 
Other Expense, net381 6,702 237 7,674 
   Income Before Income Tax Expense36,073 16,120 86,218 36,710 
Income Tax Expense7,630 6,241 21,038 11,748 
Net Income$28,443 $9,879 $65,180 $24,962 
Earnings Per Share – Basic$0.49 $0.17 $1.12 $0.43 
Earnings Per Share – Diluted$0.48 $0.17 $1.11 $0.43 
Common Shares Outstanding – Basic
58,305 58,107 58,275 58,087 
Common Shares Outstanding – Diluted
58,871 58,342 58,754 58,233 





7







Consolidated Condensed Balance Sheets
(In thousands)9/29/202412/31/2023
(UNAUDITED)
Assets
Cash and Cash Equivalents$115,601 $110,498 
Accounts Receivable, net173,859 163,386 
Inventories, net283,096 279,079 
Prepaid Expenses and Other Current Assets35,605 30,895 
Total Current Assets
608,161 583,858 
Property, Plant & Equipment, net284,845 291,140 
Operating Lease Right-of-Use Assets81,716 87,519 
Goodwill and Intangible Assets, net159,428 161,703 
Other Assets
109,114 105,875 
Total Assets
$1,243,264 $1,230,095 
Liabilities
Accounts Payable
$78,279 $62,912 
Accrued Expenses136,626 130,890 
Current Portion of Operating Lease Liabilities
12,888 12,347 
Current Portion of Long-Term Debt
8,593 8,572 
Total Current Liabilities
236,386 214,721 
Long-Term Debt
329,347 408,641 
Operating Lease Liabilities
72,861 78,269 
Other Long-Term Liabilities
103,107 102,517 
Total Liabilities
741,701 804,148 
Total Shareholders’ Equity501,563 425,947 
Total Liabilities and Shareholders’ Equity
$1,243,264 $1,230,095 






















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Consolidated Condensed Statements of Cash Flows (Unaudited)Three Months EndedNine Months Ended
(In thousands)9/29/202410/1/20239/29/202410/1/2023
OPERATING ACTIVITIES
Net Income$28,443 $9,879 $65,180 $24,962 
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:
Depreciation and Amortization9,902 10,445 29,246 30,591 
Share-Based Compensation Expense2,629 2,209 9,160 7,334 
Loss (Gain) on Disposal of Property, Plant and Equipment, net139 10 139 (2,531)
Loss on Foreign Subsidiary Liquidation— 6,221 — 6,221 
Amortization of Acquired Intangible Assets1,311 1,302 3,895 3,886 
Deferred Income Taxes(121)2,936 (1,160)438 
Other1,448 (2,989)(2,318)(1,109)
Change in Working Capital
Accounts Receivable8,251 19,626 (10,656)37,396 
Inventories3,266 (5,808)(2,395)14,135 
Prepaid Expenses and Other Current Assets1,749 769 (4,583)(2,842)
Accounts Payable and Accrued Expenses19,212 21,693 23,879 (4,264)
Cash Provided by Operating Activities 76,229 66,293 110,387 114,217 
INVESTING ACTIVITIES
      Capital Expenditures(6,501)(5,907)(20,108)(17,238)
      Proceeds from Sale of Property, Plant and Equipment— — 1,040 6,593 
      Insurance Proceeds from Property Casualty Loss1,374 — 2,374 — 
Cash Used in Investing Activities(5,127)(5,907)(16,694)(10,645)
FINANCING ACTIVITIES
     Repayments of Long-term Debt(67,311)(37,631)(114,241)(149,738)
     Borrowing of Long-term Debt16,047 7,000 33,381 74,000 
     Tax Withholding Payments for Share-Based Compensation(16)(27)(4,770)(1,514)
     Dividends Paid(582)(581)(1,755)(1,742)
     Finance Lease Payments(723)(545)(2,160)(1,853)
Cash Used in Financing Activities(52,585)(31,784)(89,545)(80,847)
Net Cash Provided by (Used in) Operating, Investing and Financing Activities18,517 28,602 4,148 22,725 
Effect of Exchange Rate Changes on Cash2,897 (1,904)955 (656)
CASH AND CASH EQUIVALENTS
Net Change During the Period21,414 26,698 5,103 22,069 
Balance at Beginning of Period94,187 92,935 110,498 97,564 
Balance at End of Period$115,601 $119,633 $115,601 $119,633 







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Segment Results (Unaudited)
Three Months EndedNine Months Ended
(in thousands)9/29/202410/1/20239/29/202410/1/2023
Net Sales
   AMS$210,155 $178,194 $595,082 $548,716 
   EAAA134,115 132,812 385,566 387,664 
Consolidated Net Sales$344,270 $311,006 $980,648 $936,380 
Segment AOI*
   AMS$32,187 $23,318 $77,214 $58,621 
   EAAA 11,299 9,049 31,402 16,805 
Consolidated AOI$43,486 $32,367 $108,616 $75,426 
* Note: Segment AOI includes allocation of corporate and global support SG&A expenses






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Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures (Unaudited)
(In millions, except per share amounts)


Third Quarter 2024 Third Quarter 2023
AdjustmentsAdjustments
Gross ProfitSG&AOperating IncomePre-tax Tax EffectNet IncomeDiluted EPSGross ProfitSG&AOperating IncomePre-tax Tax EffectNet IncomeDiluted EPS
GAAP As Reported$127.6 $85.5 $42.2 $28.4 $0.48 $110.3 $79.3 $31.0 $9.9 $0.17 
Non-GAAP Adjustments:
Purchase Accounting Amortization1.3 — 1.3 1.3 (0.4)0.9 0.02 1.3 — 1.3 1.3 (0.4)0.9 0.02 
Restructuring, Asset Impairment, Severance and Other, net— — — — 0.0— — — — — — 0.20.2 — 
Property Casualty Loss(1)
— — — (1.4)0.3(1.0)(0.02)— — — — — — — 
Cyber Event— — — — — — — — (0.1)0.1 0.1 — 0.1 — 
Loss on Foreign Subsidiary Liquidation (2)
— — — — — — — — — — 6.2 (1.1)5.1 0.09 
Loss on Discontinuance of Interest Rate Swaps— — — — — — — — — — 0.2 — 0.1 — 
Adjustments Subtotal *1.3 — 1.3 (0.1)— (0.1)— 1.3 (0.1)1.4 7.8 (1.3)6.5 0.11 
Adjusted (non-GAAP) *$128.9 $85.5 $43.5 $28.3 $0.48 $111.6 $79.2 $32.4 $16.4 $0.28 
(1) Represents insurance recovery of loss recognized in the first quarter of 2023.
(2) Russia and Brazil foreign subsidiaries were substantially liquidated during the prior period. The related cumulative translation adjustment was recognized in other expense.
* Note: Sum of reconciling items may differ from total due to rounding of individual components


11









First Nine Months 2024 First Nine Months 2023
AdjustmentsAdjustments
Gross ProfitSG&AOperating IncomePre-tax Tax EffectNet IncomeDiluted EPSGross ProfitSG&AOperating IncomePre-tax Tax EffectNet IncomeDiluted EPS
GAAP As Reported$360.6 $255.9 $104.8 $65.2 $1.11 $317.9 $251.0 $69.4 $25.0 $0.43 
Non-GAAP Adjustments:
Purchase Accounting Amortization3.9 — 3.9 3.9 (1.1)2.8 0.05 3.9 — 3.9 3.9 (1.1)2.8 0.05 
Restructuring, Asset Impairment, Severance and Other, net— (0.3)0.3 0.3 — 0.3 — — (3.7)1.2 1.2 (0.4)0.8 0.01 
Property Casualty Loss(1)
— — — (2.3)0.6(1.8)(0.03)— — — (0.5)0.1(0.4)(0.01)
Cyber Event— 0.4 (0.4)(0.4)0.1 (0.3)— — (1.0)1.0 1.0 (0.2)0.7 0.01 
Loss on Foreign Subsidiary Liquidation (2)
— — — — — — — — — — 6.2 (1.1)5.1 0.09 
Loss on Discontinuance of Interest Rate Swaps— — — — — — — — — — 1.0 (0.2)0.7 0.01 
Adjustments Subtotal *3.9 0.1 3.8 1.5 (0.5)1.0 0.02 3.8 (4.7)6.1 12.8 (2.9)9.8 0.17 
Adjusted (non-GAAP) *$364.5 $255.9 $108.6 $66.1 $1.13 $321.8 $246.3 $75.4 $34.8 $0.60 
(1) Represents insurance recovery of loss recognized in the first quarter of 2023.
(2) Russia and Brazil foreign subsidiaries were substantially liquidated during the prior period. The related cumulative translation adjustment was recognized in other expense.
* Note: Sum of reconciling items may differ from total due to rounding of individual components











12










Reconciliation of Segment GAAP Financial Measures to Non-GAAP Financial Measures ("Currency-Neutral Net Sales") (Unaudited)
(In millions)


Third Quarter 2024Third Quarter 2023
AMS SegmentEAAA SegmentConsolidated *AMS SegmentEAAA SegmentConsolidated *
Net Sales as Reported (GAAP)$210.2 $134.1 $344.3 $178.2 $132.8 $311.0 
Impact of Changes in Currency0.2 (1.6)(1.4)— — — 
Currency-Neutral Net Sales *$210.4 $132.5 $342.9 $178.2 $132.8 $311.0 
* Note: Sum of reconciling items may differ from total due to rounding of individual components

First Nine Months 2024First Nine Months 2023
AMS SegmentEAAA SegmentConsolidated *AMS SegmentEAAA SegmentConsolidated *
Net Sales as Reported (GAAP)$595.1 $385.6 $980.6 $548.7 $387.7 $936.4 
Impact of Changes in Currency0.4 0.3 0.7 — — — 
Currency-Neutral Net Sales *$595.5 $385.9 $981.4 $548.7 $387.7 $936.4 
* Note: Sum of reconciling items may differ from total due to rounding of individual components














13











Reconciliation of GAAP Operating Income to Adjusted Operating Income ("AOI") (Unaudited)
(In millions)

Third Quarter 2024Third Quarter 2023
AMS SegmentEAAA SegmentConsolidated *AMS SegmentEAAA SegmentConsolidated *
GAAP Operating Income$31.9 $10.3 $42.2 $23.5 $7.5 $31.0 
Non-GAAP Adjustments:
Purchase Accounting Amortization— 1.3 1.3 — 1.3 1.3 
Restructuring, Asset Impairment, Severance and Other, net0.3 (0.3)— (0.3)0.3 — 
Cyber Event— — — 0.1 — 0.1 
Adjustments Subtotal *0.3 1.0 1.3 (0.2)1.6 1.4 
AOI *$32.2 $11.3 $43.5 $23.3 $9.0 $32.4 
* Note: Sum of reconciling items may differ from total due to rounding of individual components


First Nine Months 2024First Nine Months 2023
AMS SegmentEAAA SegmentConsolidated *AMS SegmentEAAA SegmentConsolidated *
GAAP Operating Income$76.9 $27.9 $104.8 $57.0 $12.4 $69.4 
Non-GAAP Adjustments:
Purchase Accounting Amortization— 3.9 3.9 — 3.9 3.9 
Restructuring, Asset Impairment, Severance and Other, net0.6 (0.2)0.3 1.1 0.1 1.2 
Cyber Event(0.2)(0.2)(0.4)0.6 0.4 1.0 
Adjustments Subtotal *0.3 3.5 3.8 1.6 4.4 6.1 
AOI *$77.2 $31.4 $108.6 $58.6 $16.8 $75.4 
* Note: Sum of reconciling items may differ from total due to rounding of individual components


14







Third Quarter 2024Third Quarter 2023First Nine Months 2024First Nine Months 2023Last Twelve Months (LTM) Ended 9/29/2024Fiscal Year 2023
Net Income as Reported (GAAP)$28.4 $9.9 $65.2 $25.0 $84.7 $44.5 
Income Tax Expense 7.6 6.2 21.0 11.7 28.4 19.1 
Interest Expense (including debt issuance cost amortization)
5.7 8.2 18.3 25.0 25.1 31.8 
Depreciation and Amortization (excluding debt issuance cost amortization)
9.3 9.6 27.7 29.0 37.4 38.7 
Share-Based Compensation Expense2.6 2.2 9.2 7.3 12.1 10.3 
Purchase Accounting Amortization1.3 1.3 3.9 3.9 5.2 5.2 
Restructuring, Asset Impairment, Severance and Other, net— — 0.3 1.2 4.8 5.6 
Property Casualty Loss(1)
(1.4)— (2.3)(0.5)(2.3)(0.5)
Cyber Event— 0.1 (0.4)1.0 (0.3)1.1 
Loss on Foreign Subsidiary Liquidation (2)
— 6.2 — 6.2 — 6.2 
Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (AEBITDA)*$53.7 $43.7 $142.9 $109.8 $195.1 $162.0 
(1) Represents insurance recovery of loss recognized in the first quarter of 2023.
(2) Russia and Brazil foreign subsidiaries were substantially liquidated. The related cumulative translation adjustment was recognized in other expense.
* Note: Sum of reconciling items may differ from total due to rounding of individual components
As of 9/29/24
Total Debt$337.9 
Total Cash on Hand(115.6)
Total Debt, Net of Cash on Hand (Net Debt)*$222.3 
9/29/2024
Total Debt / LTM Net Income4.0x
Net Debt / LTM AEBITDA1.1x
* Note: Sum of reconciling items may differ from total due to rounding of individual components

The impacts of changes in foreign currency presented in the tables are calculated based on applying the prior year period's average foreign currency exchange rates to the current year period.

The Company believes that the above non-GAAP performance measures, which management uses in managing and evaluating the Company’s business, may provide users of the Company’s financial information with additional meaningful basis for comparing the Company’s current results and results in a prior period, as these
15







measures reflect factors that are unique to one period relative to the comparable period. However, these non‑GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company’s reported results under accounting principles generally accepted in the United States. Tax effects identified above (when applicable) are calculated using the statutory tax rate for the jurisdictions in which the charge or income occurred.
# # #
16
Investor Presentation | November 2024

 
2 Forward Looking Statements and Non-GAAP Measures This presentation contains forward-looking statements, including, in particular, statements about Interface’s plans, strategies and prospects. These are based on the Company’s current assumptions, expectations and projections about future events. Although Interface believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that these expectations will prove to be correct or that savings or other benefits anticipated in the forward-looking statements will be achieved. The forward-looking statements set forth involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including risks and uncertainties associated with economic conditions in the commercial interiors industry and the risks under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which discussions are hereby incorporated by reference. You should also consider any additional or updated information we include under the heading “Risk Factors” in our subsequent annual and quarterly reports. Forward-looking statements in this presentation include, without limitation, the information set forth on the slides titled “Interface: a compelling investment”, “‘One Interface’ Strategy”, “Brand Leader in the Specified Channel”, and “Financial Policy”. Other forward-looking statements can be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” “should”, “goal”, “aim”, “objective”, “commitment”, “seek,” “project,” “estimate,” “target,” and similar expressions. Forward-looking statements speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements and cautions listeners and meeting attendees not to place undue reliance on any such statements. This presentation includes certain financial measures not calculated in accordance with U.S. GAAP. They may be different from similarly titled non-GAAP measures used by other companies, and should not be used as a substitute for, or considered superior to, GAAP measures. Reconciliations to the most directly comparable GAAP measures appear in the Appendix Note: Sum of reconciling items may differ from total due to rounding of individual components

 
3 At Interface, we’re Made for More Who We Are Leading Established GlobalDedicated Engaged provider of commercial flooring: carpet tile, rubber, and LVT brand with a history of innovation and a commitment to the pursuit of sustainability to performance and improving the built environment, industry, and the world manufacturing capabilities with a focus on local market needs customer-centric and purpose- driven culture with deep design and innovation roots

 
Interface is a global leader in commercial flooring 4 $1.3 billion in net sales in FY2023 3,700 global employees 6 manufacturing locations on 4 continents ATL headquartered in Atlanta, GA Recognized leader in sustainability with over 50 years of innovation First cradle-to-gate carbon negative commercial carpet tile Premium brands with attractive margins and leadership in core categories

 
Healthcare 60% Americas 29% EMEA 11% APAC REVENUE BY REGION Diversified Geographically and Customer Verticals 5 Note: Figures represent LTM Q3 2024, figures in chart may not sum to 100% due to rounding 48% Corporate Office 20% Education  Highest penetration of carpet tile vs broadloom  Global account management  New construction, renovations and remodels  Lease renewals result in recurring revenue  K-12 and higher education  Second highest penetration of carpet tile vs broadloom  Second largest market for rubber  Significant opportunity for broadloom conversion  Hospitals, Medical Office Building, Assisted Living, Senior Living and Life Sciences  Largest rubber market based on hygienic properties, chemical resistance, and durability  Significant opportunity for broadloom conversion  Federal, State, and Local procurement push for use of low carbon products  Low carbon footprint products support achievement of decarbonization goals outlined in US Inflation Reduction Act  Retail and bank branches  Significant opportunity for broadloom conversion  High penetration of LVT Corporate Education Government 9% Healthcare 6% Government 5% Residential Living 4% Retail 2% Hospitality 2% Consumer Residential 5% Other REVENUE BY VERTICAL Retail

 
Interface: a compelling investment 6 We are global leaders in… … with a strong financial foundation Design InnovationSustainability attractive margins strong liquidity healthy balance sheet Im ag es © C hr is to ph er P ay ne / Es to … and unwavering commitment to our people winning culture commitment to talent development meaningful DEI progress

 
‘One Interface’ Strategy  Build strong global functions to support our world-class local sales teams  Accelerate growth through enhanced productivity of our commercial teams  Expand margins through global supply chain management and complexity reduction  Lead in design, innovation, and sustainability 7

 
Interface Positioning

 
Attractive Product Portfolio 9 Carpet Tile  Industry-leading cradle-to-gate carbon negative carpet tile  Biomimicry-inspired design (i2)  No glue installation with TacTiles®  Faster, more profitable installation for contractors  Recyclable via our ReEntry® program Luxury Vinyl Tile (LVT)  Creative design freedom  Complements and enhances our carpet tile portfolio  No transition strips needed; same sizes as our carpet tiles  High acoustic value (Sound Choice backing) Rubber  Offered in modular tiles, sheet, and specialized surface sheet  Ideal for hygienic, high-traffic flooring applications  Extremely durable with strong chemical resistance

 
Total global commercial flooring market = $38.5 Billion Interface served market = $9+ Billion  Global share leader in $4.9B Carpet Tile segment (now exceeds Broadloom segment globally)  Leader in high growth $3.4B LVT segment  Entered $1.0B Rubber segment in 2018, acquisition of nora, the category leader Source: Market Insights LLC Ceramic Tile Wood LVT Resilient Laminate Other BroadloomCarpet Tile Hard Surface Soft Surface $11.5 $7.4 $1.9 $1.0 $3.4 $3.4 $4.5 Other Global Commercial Flooring Segment ($ in billions) Leading Global Provider of Commercial Flooring Solutions 10 Rubber $4.9

 
- 20 40 60 80 100 120 Low End Mid-Range High End Brand Leader in the Specified Channel 11 Interface competes on design, sustainability and innovation, commanding a premium price point and industry leading margins. Source: 2023 World Map – Contract Carpet Tiles (AJCP Associates) Opportunity to expand in low/mid-range price points Maintain significant share of the high-end and mid-range price points Share leader in the specified and end user channels of commercial carpet tile Global Carpet Tile Price Categories Interface Share <15% ~15 – 25% +25% Vo lu m e (s qu ar e m et er s in m illi on s)

 
 Physical presence in 18 countries  Global account management  Six manufacturing locations on four continents  Global supply chain management  Unique blend of efficiency and customization Note: Figures represent LTM Q3 2024 Americas 60% of Net Sales Europe 29% of Net Sales Asia-Pacific 11% of Net Sales Carpet Manufacturing Facility Rubber Manufacturing Facility LVT Supplier Facility Showroom / Office Global Sales and Manufacturing Platform 12

 
ESG Overview

 
Recent ESG Highlights 14 Environmental Stewardship Reduce our environmental impact and make progress towards our science-based targets and climate goals. • Reduced GHG emissions by 12% • Decreased carbon footprint across all product categories • Refocused climate ambition on absolute emission reductions and carbon storage, without offsets • Collected 75+ million pounds of post-consumer carpet since 2016 through ReEntry Social & Community Impact Create a world-class experience for all employees and empower them to bring their whole selves to work every day. • Certified by Great Place to Work® in six countries • Expanded employee learning and development programs for personal and professional growth • Invested in additional health and wellness resources for employee well-being • Continued activation of DEI strategy, including new Inclusion Networks Governance, Compliance & Ethics Conduct business ethically and responsibly and drive growth for all our stakeholders. • Increased female Board representation to 30% with the election of Catherine Marcus • Launched Global Design & Sustainability Councils • Activated ‘One Interface’ strategy, globalizing leadership and teams across functions • Established Innovation & Sustainability Committee with the Board of Directors

 
15 Check out our report here: 2023 Impact Report The linked 2023 Impact Report is not a part of, or incorporated into, this presentation. 2023 Impact Report We are focused on reducing our environmental footprint, making Interface a great place to work, and doing business ethically and responsibly to benefit all stakeholders – employees, customers, shareholders, and the environment. The 2023 Impact Report outlines our progress and lessons learned. Learn more about ESG at Interface here: ESG

 
Financial Performance

 
Financials at a Glance 17 Currency Neutral Net Sales $343 +10.3% YoY Net Sales $344 +10.7% YoY Adjusted SG&A 24.8% % of Net Sales Adjusted Operating Income $43.5 12.6% of Net Sales Net Debt / Adjusted EBITDA 1.1x Net Sales $1,306 Adjusted EBITDA $195 14.9% of Net Sales Adjusted Operating Income $150 11.5% of Net Sales Q3 2024 LTM Adjusted Earnings Per Share $0.48 Adjusted Earnings Per Share $1.53 * See Appendix for a reconciliation of Non-GAAP figures ($ in millions, except EPS)

 
($ in millions, except EPS) 2024 2023 Change Net Sales $344 $311 11% Gross Profit 128 110 16% % of Net Sales 37.1% 35.5% SG&A Expense 85 79 8% % of Net Sales 24.8% 25.5% Operating Income 42 31 36% % of Net Sales 12.3% 10.0% Net Income 28 10 188% % of Net Sales 8.3% 3.2% Diluted EPS $0.48 $0.17 182% Third Quarter GAAP Financial Results 18

 
($ in millions, except EPS) 2024 2023 Change Net Sales $344 $311 11% Adjusted Gross Profit 129 112 16% % of Net Sales 37.5% 35.9% Adjusted SG&A Expense 85 79 8% % of Net Sales 24.8% 25.5% Adjusted Operating Income 43 32 34% % of Net Sales 12.6% 10.4% Adjusted Net Income 28 16 73% % of Net Sales 8.2% 5.3% Adjusted Diluted EPS $0.48 $0.28 71% Adjusted EBITDA $54 $44 23% % of Net Sales 15.6% 14.1% Third Quarter Adjusted Financial Results* 19 * See Appendix for a reconciliation of Non-GAAP figures

 
Adjusted EBITDA Adjusted Earnings Per Share (Diluted) Net Debt / LTM Adjusted EBITDANet Debt Leverage and Earnings Metrics* 20 $ in millions * See Appendix for a reconciliation of Non-GAAP figures $ in millions

 
Financial Policy 21 Balance capital allocation across investment in the business, managing our leverage ratio, and returning capital to shareholders. Reduce debt Optimize cost of capital and target Net Debt / Adjusted EBITDA < 2.0x Reinvest in the business Invest in strategic initiatives with high returns, including organic growth opportunities, innovation, manufacturing productivity, and salesforce effectiveness Explore M&A Opportunities Opportunistically evaluate accretive M&A transactions that are aligned with our strategy Return excess cash to Shareholders Utilize strong free cash flow to return excess cash to shareholders Capital Deployment Philosophy

 
Appendix

 
Reconciliation of Non-GAAP Figures 23 Note: Sum of reconciling items may differ from total due to rounding of individual components ($ in millions) Q3 2023 Q3 2024 Net Sales as Reported (GAAP) $311.0 $344.3 Impact of Changes in Currency - (1.4) Currency Neutral Sales $311.0 $342.9 Gross Profit as Reported (GAAP) $110.3 $127.6 Purchase Accounting Amortization 1.3 1.3 Adjusted Gross Profit $111.6 $128.9 SG&A Expense as Reported (GAAP) $79.3 $85.5 Cyber Event Impact (0.1) - Restructuring, Asset Impairment, Severance and Other, net 0.0 (0.0) Adjusted SG&A Expense $79.2 $85.5 LTM Q3 2023 Q3 2024 Q3 2024 Operating Income as Reported (GAAP) $31.0 $42.2 $139.9 Purchase Accounting Amortization 1.3 1.3 5.2 Thailand Plant Shutdown 0.0 - - Cyber Event Impact 0.1 - (0.3) Restructuring, Asset Impairment, Severance and Other, net (0.0) 0.0 4.8 Adjusted Operating Income $32.4 $43.5 $149.6

 
($ in millions) Q3 2023 Q3 2024 LTM Q3 2024 Net Income as Reported (GAAP) $9.9 $28.4 $84.7 Purchase Accounting Amortization 0.9 0.9 3.7 Thailand Plant Shutdown 0.2 - - Cyber Event Impact 0.1 - (0.2) Restructuring, Asset Impairment, Severance and Other, net - 0.0 3.5 Property Casualty (Recovery) Loss(1) 0.0 (1.0) (1.8) Loss on Discontinuance of Interest Rate Swaps 0.1 - - Foreign Subsidiary Liquidation(2) 5.1 - (0.0) Adjusted Net Income $16.4 $28.3 $89.9 Fiscal Year 2020 Fiscal Year 2021 Fiscal Year 2022 Fiscal Year 2023 Q3 2023 Q3 2024 LTM Q3 2024 Diluted EPS as Reported (GAAP) ($1.23) $0.94 $0.33 $0.76 0.17$ 0.48$ $1.44 Purchase Accounting Amortization 0.07 0.07 0.06 0.06 0.02 0.02 0.06 Cyber Event Impact - - 0.07 0.01 0.00 - (0.00) Thailand Plant Shutdown - - 0.04 - 0.00 - - Goodwill and Intangible Asset Impairment 2.05 - 0.58 - - - - Restructuring, Asset Impairment, Severance and Other, net 0.23 0.16 0.13 0.07 0.00 0.00 0.06 Property Casualty (Recovery) Loss(1) - - - (0.01) 0.00 (0.02) (0.03) Loss on Extinguishment of Debt 0.05 - - - - - - Loss on Discontinuance of Interest Rate Swaps 0.05 0.06 0.04 0.01 0.00 - - Foreign Subsidiary Liquidation(2) - - - 0.09 0.09 - - FIN 48 Release on Discontinued Operations (0.22) - - - - - - SEC Fine 0.09 - - - - - - Warehouse Fire Loss 0.05 - - - - - - Impact of Change in Equity Award Forfeiture Accounting 0.02 - - - - - - Adjusted Diluted EPS $1.15 $1.23 $1.25 $1.00 $0.28 $0.48 $1.53 Reconciliation of Non-GAAP Figures 24 Note: Sum of reconciling items may differ from total due to rounding of individual components (1) Represents insurance (recovery) / loss. (2) Russia and Brazil foreign subsidiaries were substantially liquidated. The related cumulative translation adjustment was recognized in other expense.

 
($ in millions) Fiscal Year 2020 Fiscal Year 2021 Fiscal Year 2022 Fiscal Year 2023 Q3 2023 Q3 2024 LTM Q3 2024 Net (Loss) Income as Reported (GAAP) ($71.9) $55.2 $19.6 $44.5 $9.9 $28.4 $84.7 Income Tax (Benefit) Expense (7.5) 17.4 22.4 19.1 6.2 7.6 28.4 Interest Expense (including debt issuance cost amortization) 29.2 29.7 29.9 31.8 8.2 5.7 25.1 Depreciation and Amortization (excluding debt issuance cost amortization) 43.8 44.3 38.7 38.7 9.6 9.3 37.4 Share-Based Compensation Expense (0.5) 5.5 8.5 10.3 2.2 2.6 12.1 Purchase Accounting Amortization 5.5 5.6 5.0 5.2 1.3 1.3 5.2 Thailand Plant Shutdown - - 2.5 - - - - Cyber Event Impact - - 5.1 1.1 0.1 - (0.3) Property Casualty (Gain) Loss(1) - - - (0.5) 0.0 (1.4) (2.3) Goodwill and Intangible Asset Impairment 121.3 - 36.2 - - - - Restructuring, Asset Impairment, Severance and Other, net 16.7 11.8 10.7 5.6 (0.0) 0.0 4.8 Warehouse Fire Loss 4.2 (0.2) - - - - - SEC Fine 5.0 - - - - - - Foreign Subsidiary Liquidation(2) - - - 6.2 6.2 - (0.0) Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (AEBITDA)* $145.7 $169.4 $176.1 $162.0 $43.7 $53.7 $195.1 ($ in millions) 2020 2021 2022 2023 Q3 2024 Total Debt $577 $518 $520 $417 $338 Less: Cash (103) (97) (98) (110) (116) Net Debt $474 $421 $423 $307 $222 Total Debt / LTM Net Income as Reported (GAAP) (8.0x) 9.4x 26.6x 9.4x 4.0x Net Debt / LTM Adjusted EBITDA 3.2x 2.5x 2.4x 1.9x 1.1x Note: Sum of reconciling items may differ from total due to rounding of individual components * Historical AEBITDA figures have been updated to reflect a change in depreciation and amortization values used to calculate AEBITDA. (1) Represents insurance (recovery) / loss. (2) Russia and Brazil foreign subsidiaries were substantially liquidated. The related cumulative translation adjustment was recognized in other expense. Reconciliation of Non-GAAP Figures 25

 
v3.24.3
Document and Entity Information Document
Nov. 01, 2024
Cover [Abstract]  
Title of 12(b) Security Common Stock, $0.10 Par Value Per Share
Document Type 8-K
Document Period End Date Nov. 01, 2024
Entity Registrant Name INTERFACE INC
Entity Incorporation, State or Country Code GA
Entity File Number 001-33994
Entity Tax Identification Number 58-1451243
Entity Address, Address Line One 1280 West Peachtree Street NW
Entity Address, City or Town Atlanta
Entity Address, State or Province GA
Entity Address, Postal Zip Code 30309
City Area Code 770
Local Phone Number 437-6800
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000715787
Amendment Flag false
Trading Symbol TILE
Security Exchange Name NASDAQ
Interface (NASDAQ:TILE)
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