Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-Q _____________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-16583. __________ ...

Acuity Brands, Inc. (NYSE:AYI) Q2 2023 Earnings Conference Call April 4, 2023 8:00 AM ET Company Participants Charlotte McLaughlin - Vice President of Investor Relations Neil Ashe - Chairman, President & Chief Executive Officer Karen Holcom - Senior Vice President & Chief Financial Officer Conference Call Participants Tim Wojs - Baird Ryan Merkel - William Blair Joe O'Dea - Wells Fargo Chris Snyder - UBS Jeffrey Sprague - Vertical Research Partners Operator Good morning and welcome to the Acuity Brands Fisc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-Q _____________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-16583. _____ ...

Financial Data and Key Metrics Changes - The company generated net sales of approximately $1 billion, an increase of 8% year-over-year, primarily driven by price increases [16] - Adjusted diluted earnings per share (EPS) increased by $0.44 or 15% over the prior year to $3.29, while diluted EPS decreased by $0.17 or 7% year-over-year due to non-recurring charges [17] - Cash flow from operating activities was $187 million, an increase of $103 million compared to the prior year's first quarter [19] Business Line Data and Key Metrics Changes - The Acuity Brands Lighting (ABL) segment reported net sales of $947 million, a 7% increase compared to the prior year, with operating profit of $118 million, down $10 million year-over-year [18] - The Intelligent Spaces Group (ISG) saw sales of $57 million, an increase of 22% year-over-year, with operating profit rising to $8 million [18] Market Data and Key Metrics Changes - The company is experiencing improved component availability, which is expected to reduce lead times and help clear backlog levels [21][22] - The company is focusing on expanding its geographic markets, particularly for the Distech product portfolio, with promising starts in the U.K. [11] Company Strategy and Development Direction - The company is committed to product vitality and service improvements, with a focus on sustainability through new product launches [7][14] - The decision to exit the Sunoptics Daylighting business and Winona custom architectural lighting solutions reflects a strategic review of the portfolio to focus on more relevant and profitable areas [10][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty around the economy, inflation, and interest rates, but expressed confidence in adapting to changing market conditions [13] - The company is well-positioned in various end-markets and is focused on continuing to invest in product vitality and service [13] Other Important Information - The company repurchased approximately 0.5 million shares during the quarter, totaling over 20% of shares outstanding since May 2020 [12] - The company is committed to achieving net zero carbon emissions by 2040 and is working with the Science-Based Targets Initiative to establish interim targets [14] Q&A Session Summary Question: Backlog and Supply Chain Performance - Management expects backlog levels to normalize as component availability improves, with a timeline of approximately the second or third fiscal quarter for a more balanced relationship between order intake and lead times [21][22] Question: Commission Changes - The increase in commissions is part of a strategy to invest in future business, particularly in infrastructure projects, and is expected to continue throughout the year [23][24] Question: Capital Allocation and M&A - The company remains committed to its capital allocation priorities, including M&A opportunities, particularly in expanding the Intelligent Spaces Group [27][29] Question: Operating Leverage and Margin Outlook - Management is confident in generating operating leverage as the environment normalizes, with expectations for margin improvements as backlog levels decrease [31][32] Question: Demand Environment and Economic Conditions - Management is monitoring economic indicators and anticipates that improved component availability may temporarily impact demand as customers adjust their inventory levels [38][39] Question: International Expansion for Distech - The company plans to expand Distech's market presence beyond North America and France, with a focus on the U.K. and non-China Asia as part of a multi-year strategy [55]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-Q _____________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-16583. _____ ...

PART I [Item 1. Business.](index=3&type=section&id=Item%201.%20Business.) Acuity Brands, Inc, a leading industrial technology company, operates through its ABL and ISG segments to market advanced lighting and building management solutions - Acuity Brands, Inc is a market-leading industrial technology company focused on solving problems in spaces and light through technology[8](index=8&type=chunk) - The company operates two business segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG)[8](index=8&type=chunk) Segment Revenue Contribution (Fiscal 2020-2022) | Segment | Fiscal 2022 | Fiscal 2021 | Fiscal 2020 | | :------ | :---------- | :---------- | :---------- | | ABL | ~95% | ~95% | ~95% | | ISG | ~5% | ~5% | ~5% | - ABL's portfolio includes commercial, architectural, and specialty lighting, lighting controls, and components, predominantly utilizing **LED technology** for energy efficiency[9](index=9&type=chunk) - ISG delivers products and services for smarter, safer, and greener spaces, including a building management platform (Atrius software) for HVAC, lighting, shades, and building access control[11](index=11&type=chunk) Manufacturing and Sourcing (Fiscal 2022) | Geographic Region | Manufactured | Purchased | Total | | :---------------- | :----------- | :-------- | :------ | | United States | 14% | 9% | 23% | | Mexico | 56% | —% | 56% | | Asia | —% | 16% | 16% | | Others | 5% | —% | 5% | | Total | 75% | 25% | 100% | Research and Development Expenses (Fiscal 2020-2022) | Fiscal Year | R&D Expenses (Millions USD) | | :---------- | :-------------------------- | | 2022 | $95.1 | | 2021 | $88.3 | | 2020 | $82.0 | - The company operates in a highly competitive industry influenced by general business and economic factors, including non-residential and residential construction activity[20](index=20&type=chunk) - The market is influenced by evolving technologies such as solid-state lighting, embedded controls, and intelligent building systems, as well as energy codes and sustainability incentives[21](index=21&type=chunk) - The COVID-19 pandemic negatively impacted operations through reduced construction/renovation spending and supply chain disruptions, leading to increased costs and cost reduction measures[32](index=32&type=chunk) Employee Count (August 31, 2022) | Location | Number of Associates | | :-------------- | :------------------- | | United States | ~3,900 | | Mexico | ~8,400 | | Other Int'l | ~900 | | Total | ~13,200 | [Item 1a. Risk Factors.](index=9&type=section&id=Item%201a.%20Risk%20Factors.) The company faces material risks from raw material costs, competitive pressures, operational disruptions, regulatory compliance, and financial market volatility - Risks related to strategy include fluctuations in **raw material costs** and availability, inability to maintain pricing, and challenges in effective innovation[47](index=47&type=chunk)[52](index=52&type=chunk)[54](index=54&type=chunk) - Operational risks encompass the ongoing effects of the COVID-19 pandemic, technological developments and increased competition, disruptions to operations (e.g, labor disputes, natural disasters, cyber-attacks), and the inability to attract and retain talented employees[62](index=62&type=chunk)[65](index=65&type=chunk)[71](index=71&type=chunk)[79](index=79&type=chunk) - Legal and regulatory risks involve failure to comply with a broad range of standards and laws (environmental, data privacy), unexpected legal contingencies, product liability claims, and intellectual property disputes[92](index=92&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk)[98](index=98&type=chunk) - Financial risks include volatility in the market price and trading volume of shares, and risks related to defined benefit retirement plans[104](index=104&type=chunk)[106](index=106&type=chunk) [Item 1b. Unresolved Staff Comments.](index=19&type=section&id=Item%201b.%20Unresolved%20Staff%20Comments.) There are no unresolved staff comments from the SEC - The company has **no unresolved staff comments**[108](index=108&type=chunk) [Item 2. Properties.](index=19&type=section&id=Item%202.%20Properties.) The company operates 18 manufacturing facilities and numerous other properties globally, which are considered well-maintained and adequate for current needs - General corporate offices are located in Atlanta, Georgia[108](index=108&type=chunk) Significant Facility Categories (August 31, 2022) | Nature of Facilities | ABL Owned | ABL Leased | ISG Owned | ISG Leased | Corporate Leased | Total Owned | Total Leased | | :------------------- | :-------- | :--------- | :-------- | :--------- | :--------------- | :---------- | :----------- | | Manufacturing | 10 | 6 | 2 | — | — | 12 | 6 | | Warehouses | — | 1 | — | — | — | — | 1 | | Distribution Centers | 2 | 6 | — | — | — | 2 | 6 | | Offices | 5 | 12 | — | 2 | 1 | 5 | 15 | | Total | 17 | 25 | 2 | 2 | 1 | 19 | 28 | Manufacturing Facilities by Geography (August 31, 2022) | Segment | United States | Mexico | Europe | Canada | Total | | :------ | :------------ | :----- | :----- | :----- | :---- | | ABL | 6 | 7 | 1 | 2 | 16 | | ISG | — | — | 1 | 1 | 2 | | Total | 6 | 7 | 2 | 3 | 18 | [Item 3. Legal Proceedings.](index=19&type=section&id=Item%203.%20Legal%20Proceedings.) Information regarding legal proceedings is detailed in the Commitments and Contingencies footnote of the financial statements - Legal proceedings information is provided in the **Commitments and Contingencies footnote**[111](index=111&type=chunk) [Item 4. Mine Safety Disclosures.](index=19&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) Mine safety disclosures are not applicable to the company - Mine Safety Disclosures are **not applicable**[111](index=111&type=chunk) PART II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.](index=20&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities.) The company's common stock trades on the NYSE under 'AYI', with an active share repurchase program and stock performance that has underperformed key indices - Common stock is listed on the New York Stock Exchange under the symbol **'AYI'**[112](index=112&type=chunk) - As of October 21, 2022, there were **1,856 stockholders** of record[112](index=112&type=chunk) - The Board of Directors authorized the repurchase of up to five million shares on March 31, 2022; as of August 31, 2022, **2.8 million shares remained** under this authorization[114](index=114&type=chunk) Issuer Purchases of Equity Securities (Quarter Ended August 31, 2022) | Period | Total Shares Purchased | Average Price Paid per Share ($) | | :------------------------- | :--------------------- | :------------------------------- | | 6/1/2022 through 6/30/2022 | 339,454 | 166.98 | | 7/1/2022 through 7/31/2022 | 215,320 | 166.92 | | 8/1/2022 through 8/31/2022 | 78,030 | 179.42 | | Total | 632,804 | 168.50 | Five-Year Cumulative Total Return (August 31, 2017 - August 31, 2022) | Index | Aug-17 ($) | Aug-18 ($) | Aug-19 ($) | Aug-20 ($) | Aug-21 ($) | Aug-22 ($) | | :------------------------------------- | :--------- | :--------- | :--------- | :--------- | :--------- | :--------- | | Acuity Brands, Inc. | 100 | 87 | 71 | 63 | 106 | 95 | | S&P Midcap 400 Index | 100 | 120 | 112 | 117 | 169 | 152 | | Dow Jones U.S. Electrical Components & Equipment Index | 100 | 117 | 105 | 121 | 176 | 156 | | Dow Jones U.S. Building Materials & Fixtures Index | 100 | 106 | 117 | 138 | 219 | 172 | [Item 6. [Reserved]](index=21&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved and contains no information - Item 6 is **reserved**[122](index=122&type=chunk) [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.](index=22&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Fiscal 2022 saw significant growth in net sales and operating profit driven by price increases, though operating cash flow decreased due to working capital investments - Acuity Brands is a market-leading industrial technology company focused on growth through innovative products and services, customer-focused efficiencies, and strategic capital deployment[124](index=124&type=chunk) - The company's capital allocation priorities are to invest in current business for growth, pursue mergers and acquisitions, maintain its dividend, and execute share repurchases[133](index=133&type=chunk) Key Financial Highlights (Fiscal 2022 vs. 2021) | Metric | FY2022 (Millions USD) | FY2021 (Millions USD) | Change (Millions USD) | % Change | | :------------------------- | :-------------------- | :-------------------- | :-------------------- | :------- | | Net Sales | $4,006.1 | $3,461.0 | $545.1 | 15.7% | | Gross Profit | $1,672.7 | $1,475.0 | $197.7 | 13.4% | | Gross Profit Margin | 41.8% | 42.6% | (80) bps | | | Operating Profit | $509.7 | $427.6 | $82.1 | 19.2% | | Operating Profit Margin | 12.7% | 12.4% | 30 bps | | | Net Income | $384.0 | $306.3 | $77.7 | 25.4% | | Diluted EPS | $11.08 | $8.38 | $2.70 | 32.2% | - **Net sales increased by 15.7%** in fiscal 2022, driven by price increases and higher volumes in both ABL and ISG segments, with acquisitions contributing approximately 3%[145](index=145&type=chunk) - **Gross profit margin decreased by 80 basis points** to 41.8% in fiscal 2022 due to material, labor, and freight escalations, partially offset by pricing actions and the dilutive effects of recent acquisitions[146](index=146&type=chunk) - **Operating profit margin increased by 30 basis points** to 12.7% in fiscal 2022, primarily due to improved leveraging of operating costs and lower special charges, despite a lower gross profit margin[147](index=147&type=chunk)[148](index=148&type=chunk) Segment Performance (Fiscal 2022 vs. 2021) | Segment | Metric | FY2022 (Millions USD) | FY2021 (Millions USD) | Change (Millions USD) | % Change | | :------ | :----------------- | :-------------------- | :-------------------- | :-------------------- | :------- | | ABL | Net Sales | $3,810.1 | $3,287.3 | $522.8 | 15.9% | | | Operating Profit | $545.6 | $476.2 | $69.4 | 14.6% | | | Operating Profit Margin | 14.3% | 14.5% | (20) bps | | | ISG | Net Sales | $216.1 | $190.0 | $26.1 | 13.7% | | | Operating Profit | $22.7 | $9.9 | $12.8 | 129.3% | | | Operating Profit Margin | 10.5% | 5.2% | 530 bps | | - Cash and cash equivalents **decreased by $268.1 million** to $223.2 million at August 31, 2022, primarily due to higher working capital investments and share repurchases[128](index=128&type=chunk) - Cash flows from operating activities **decreased by $92.4 million** to $316.3 million in fiscal 2022, mainly due to increased working capital investments[128](index=128&type=chunk) - The company **repurchased 2.9 million shares for $511.7 million** in fiscal 2022[137](index=137&type=chunk) - Critical accounting estimates include revenue recognition, inventories, goodwill and indefinite-lived intangible assets, share-based payment expense, and product warranty and recall costs, all requiring significant management judgment and assumptions[157](index=157&type=chunk)[159](index=159&type=chunk)[161](index=161&type=chunk)[163](index=163&type=chunk)[172](index=172&type=chunk)[174](index=174&type=chunk) [Item 7a. Quantitative and Qualitative Disclosures About Market Risk.](index=31&type=section&id=Item%207a.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company is exposed to market risks from interest rate fluctuations and foreign exchange rate changes, particularly for its Mexican and Canadian operations - The company is exposed to market risks from changing interest and foreign exchange rates[181](index=181&type=chunk) - Long-term debt primarily consists of **fixed-rate senior unsecured notes**, limiting exposure to interest rate fluctuations[182](index=182&type=chunk) - A hypothetical **10% increase in market interest rates** would decrease the estimated fair value of senior unsecured notes by approximately **$14.9 million**[182](index=182&type=chunk) - Foreign exchange rate exposure exists due to operations in Mexico and Canada[183](index=183&type=chunk) Hypothetical Foreign Exchange Rate Impact on Operating Profit (Fiscal 2022) | Currency | Change in Value | Impact on Operating Profit (Millions USD) | | :------- | :-------------- | :---------------------------------------- | | CAD | -10% | -$13 | | CAD | +10% | +$16 | | MXN | -10% | +$15 | | MXN | +10% | -$18 | [Item 8. Financial Statements and Supplementary Data.](index=32&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data.) This section presents the audited consolidated financial statements, management's report on internal controls, independent auditor reports, and detailed notes [Management's Report on Internal Control over Financial Reporting](index=33&type=section&id=Management's%20Report%20on%20Internal%20Control%20over%20Financial%20Reporting) Management asserts that the company maintained effective internal control over financial reporting as of August 31, 2022, based on the COSO framework - Management believes the company's internal control over financial reporting was **effective as of August 31, 2022**, based on the COSO (2013 Framework) criteria[189](index=189&type=chunk) [Reports of Independent Registered Public Accounting Firm](index=34&type=section&id=Reports%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Ernst & Young LLP issued unqualified opinions on the financial statements and internal controls, identifying the valuation of trade names as a critical audit matter - Ernst & Young LLP issued an **unqualified opinion** on the consolidated financial statements for the three years ended August 31, 2022[192](index=192&type=chunk) - An **unqualified opinion** was also issued on the effectiveness of the company's internal control over financial reporting as of August 31, 2022[193](index=193&type=chunk)[205](index=205&type=chunk) - The critical audit matter was the **valuation of indefinite-lived trade names**, due to the judgmental nature of significant assumptions used in the discounted future cash flow model[198](index=198&type=chunk)[199](index=199&type=chunk) [Consolidated Balance Sheets](index=37&type=section&id=Consolidated%20Balance%20Sheets%20as%20of%20August%2031%2C%202022%20and%202021) Total assets decreased to $3,480.2 million in 2022, driven by a reduction in cash and an increase in treasury stock, while total stockholders' equity also declined Consolidated Balance Sheet Summary (Millions USD) | Metric | August 31, 2022 | August 31, 2021 | | :-------------------------- | :-------------- | :-------------- | | Cash and cash equivalents | $223.2 | $491.3 | | Total current assets | $1,466.0 | $1,544.3 | | Property, plant, and equipment, net | $276.5 | $269.1 | | Goodwill | $1,084.3 | $1,094.7 | | Intangible assets, net | $529.2 | $573.2 | | Total assets | $3,480.2 | $3,575.1 | | Total current liabilities | $733.6 | $692.2 | | Long-term debt | $495.0 | $494.3 | | Total liabilities | $1,568.4 | $1,530.6 | | Total stockholders' equity | $1,911.8 | $2,044.5 | [Consolidated Statements of Comprehensive Income](index=38&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20for%20the%20years%20ended%20August%2031%2C%202022%2C%202021%2C%20and%202020) Fiscal 2022 showed significant growth, with net sales reaching $4,006.1 million and net income increasing to $384.0 million, resulting in diluted EPS of $11.08 Consolidated Statements of Comprehensive Income Summary (Millions USD, except per-share data) | Metric | FY2022 | FY2021 | FY2020 | | :------------------------- | :-------- | :-------- | :-------- | | Net sales | $4,006.1 | $3,461.0 | $3,326.3 | | Gross profit | $1,672.7 | $1,475.0 | $1,402.4 | | Operating profit | $509.7 | $427.6 | $353.9 | | Income before income taxes | $493.9 | $396.2 | $324.7 | | Net income | $384.0 | $306.3 | $248.3 | | Diluted earnings per share | $11.08 | $8.38 | $6.27 | | Comprehensive income | $356.4 | $340.8 | $267.0 | [Consolidated Statements of Cash Flows](index=39&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20for%20the%20years%20ended%20August%2031%2C%202022%2C%202021%2C%20and%202020) Operating cash flow decreased in fiscal 2022 due to higher working capital, while financing cash outflows increased significantly from substantial share repurchases Consolidated Statements of Cash Flows Summary (Millions USD) | Metric | FY2022 | FY2021 | FY2020 | | :-------------------------------------- | :-------- | :-------- | :-------- | | Net cash provided by operating activities | $316.3 | $408.7 | $504.8 | | Net cash used for investing activities | $(62.2) | $(117.9) | $(359.8) | | Net cash used for financing activities | $(512.4) | $(362.6) | $(50.3) | | Net change in cash and cash equivalents | $(268.1) | $(69.4) | $99.7 | | Cash and cash equivalents at end of year | $223.2 | $491.3 | $560.7 | - Cash flows from operating activities **decreased by $92.4 million** in fiscal 2022, primarily due to higher working capital investments to support growth and mitigate supply chain inconsistencies[128](index=128&type=chunk) - Purchases of property, plant, and equipment increased to **$56.5 million** in fiscal 2022 from $43.8 million in 2021[134](index=134&type=chunk) - Acquisitions of businesses, net of cash acquired, resulted in cash outflows of **$12.9 million** in fiscal 2022, primarily for working capital settlements of fiscal 2021 acquisitions[135](index=135&type=chunk) - Repurchases of common stock totaled **$514.8 million** in fiscal 2022, a significant increase from $434.9 million in 2021[137](index=137&type=chunk)[218](index=218&type=chunk) [Consolidated Statements of Stockholders' Equity](index=40&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity%20for%20the%20years%20ended%20August%2031%2C%202022%2C%202021%2C%20and%202020) Total stockholders' equity decreased to $1,911.8 million in 2022, driven by $511.7 million in share repurchases that offset net income of $384.0 million Consolidated Statements of Stockholders' Equity Summary (Millions USD) | Metric | August 31, 2022 | August 31, 2021 | August 31, 2020 | | :-------------------------------------- | :-------------- | :-------------- | :-------------- | | Common Stock Amount | $0.5 | $0.5 | $0.5 | | Paid-in Capital | $1,036.3 | $995.6 | $963.6 | | Retained Earnings | $3,176.2 | $2,810.3 | $2,523.3 | | Accumulated Other Comprehensive Loss | $(125.8) | $(98.2) | $(132.7) | | Treasury Stock, at cost | $(2,175.4) | $(1,663.7) | $(1,227.2) | | Total Stockholders' Equity | $1,911.8 | $2,044.5 | $2,127.5 | - Net income contributed **$384.0 million** to retained earnings in fiscal 2022[221](index=221&type=chunk) - Share repurchases amounted to **$511.7 million** in fiscal 2022, increasing treasury stock[221](index=221&type=chunk) - Accumulated other comprehensive loss increased by **$27.6 million** in fiscal 2022, primarily due to foreign currency translation adjustments[214](index=214&type=chunk)[221](index=221&type=chunk) [Note 1 — Description of Business and Basis of Presentation](index=41&type=section&id=Note%201%20%E2%80%94%20Description%20of%20Business%20and%20Basis%20of%20Presentation) The company operates through its ABL and ISG segments, with ABL consistently accounting for approximately 95% of consolidated revenues - Acuity Brands operates two segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG)[224](index=224&type=chunk) - ABL's primary customers include electrical distributors, retail home improvement centers, and national accounts, with sales mainly through independent sales agencies[225](index=225&type=chunk) - ISG's customers are primarily system integrators, retail stores, airports, and enterprise campuses, offering building management platforms and location-aware applications[227](index=227&type=chunk) - ABL comprised approximately **95% of consolidated revenues**, and ISG comprised approximately **5%** during fiscal 2022, 2021, and 2020[226](index=226&type=chunk)[227](index=227&type=chunk) [Note 2 — Significant Accounting Policies](index=42&type=section&id=Note%202%20%E2%80%94%20Significant%20Accounting%20Policies) This note details key accounting policies, including revenue recognition, inventory valuation, annual goodwill impairment testing, and share-based payment expense - Financial statements are prepared in conformity with U.S GAAP, requiring management to make estimates and assumptions[231](index=231&type=chunk) - Inventories are stated on a first-in, first-out basis at the lower of cost and net realizable value, with a provision for excess or obsolete inventory[239](index=239&type=chunk) Inventory Composition (Millions USD) | Inventory Category | August 31, 2022 | August 31, 2021 | | :----------------------------- | :-------------- | :-------------- | | Raw materials, supplies, and work in process | $252.6 | $209.5 | | Finished goods | $264.0 | $227.2 | | Inventories excluding reserves | $516.6 | $436.7 | | Less: Reserves | $(30.9) | $(38.0) | | Total inventories | $485.7 | $398.7 | - Goodwill and indefinite-lived intangible assets are tested for impairment annually in the fiscal fourth quarter, or more frequently if circumstances change[249](index=249&type=chunk) Goodwill by Segment (Millions USD) | Segment | August 31, 2022 | August 31, 2021 | August 31, 2020 | | :------ | :-------------- | :-------------- | :-------------- | | ABL | $1,014.2 | $1,022.2 | $1,012.6 | | ISG | $70.1 | $72.5 | $67.4 | | Total | $1,084.3 | $1,094.7 | $1,080.0 | - Amortization expense for acquired intangible assets was **$41.0 million** in fiscal 2022, with expected future amortization of $42.9 million in fiscal 2023[248](index=248&type=chunk) Share-based Payment Expense (Millions USD) | Award Type | FY2022 | FY2021 | FY2020 | | :------------------------ | :------ | :------ | :------ | | Restricted stock awards and units | $17.2 | $15.1 | $24.6 | | Stock options | $8.8 | $9.2 | $4.9 | | Performance stock units | $9.9 | $6.8 | $7.3 | | Director stock units | $1.5 | $1.4 | $1.4 | | Total | $37.4 | $32.5 | $38.2 | Research and Development Expenses (Millions USD) | Fiscal Year | R&D Expense | | :---------- | :---------- | | 2022 | $95.1 | | 2021 | $88.3 | | 2020 | $82.0 | Interest Expense, Net (Millions USD) | Component | FY2022 | FY2021 | FY2020 | | :---------------- | :------ | :------ | :------ | | Interest expense | $27.0 | $24.2 | $26.4 | | Interest income | $(2.1) | $(1.0) | $(3.1) | | Interest expense, net | $24.9 | $23.2 | $23.3 | [Note 3 — New Accounting Pronouncements](index=50&type=section&id=Note%203%20%E2%80%94%20New%20Accounting%20Pronouncements) The company adopted ASU 2019-12 for income taxes without material impact and is currently assessing the future impact of ASU 2021-08 for business combinations - ASU 2019-12, Simplifying the Accounting for Income Taxes, was adopted in fiscal 2022 with **no material effect**[284](index=284&type=chunk) - ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, is effective for fiscal 2024, with early adoption permitted; the company is assessing its impact[285](index=285&type=chunk) [Note 4 — Acquisitions](index=50&type=section&id=Note%204%20%E2%80%94%20Acquisitions) No acquisitions occurred in fiscal 2022, with cash outflows related to settlements for prior year acquisitions of ams OSRAM's DS business and Rockpile Ventures - **No acquisitions occurred in fiscal 2022**; $12.9 million cash outflow related to fiscal 2021 acquisition settlements[287](index=287&type=chunk) - Fiscal 2021 acquisitions included ams OSRAM's North American Digital Systems business (LED driver and controls technology) and Rockpile Ventures (edge AI startups accelerator)[288](index=288&type=chunk)[289](index=289&type=chunk) - Fiscal 2020 acquisitions included The Luminaires Group (specification-grade luminaires) and LocusLabs, Inc (navigation software platform)[292](index=292&type=chunk)[293](index=293&type=chunk) - Goodwill from 2021 acquisitions totaled **$12.3 million**, primarily for expected synergies and acquired workforce[291](index=291&type=chunk) - Goodwill from 2020 acquisitions totaled approximately **$107.6 million**, for expanding solutions portfolio and synergies[295](index=295&type=chunk) [Note 5 — Fair Value Measurements](index=51&type=section&id=Note%205%20%E2%80%94%20Fair%20Value%20Measurements) Fair value is determined using a three-level hierarchy, with cash as Level 1, debt obligations as Level 2, and strategic investments measured at cost - Fair value measurements are based on a three-level hierarchy: **Level 1** (quoted prices in active markets), **Level 2** (observable inputs), and **Level 3** (unobservable inputs)[296](index=296&type=chunk) - Cash and cash equivalents are Level 1 assets, totaling **$223.2 million** in 2022 and $491.3 million in 2021[300](index=300&type=chunk) - Strategic investments in privately-held entities are measured at cost less impairment, totaling **$11.9 million** in 2022 and $5.3 million in 2021[301](index=301&type=chunk) - The estimated fair value of senior unsecured public notes was **$399.2 million** in 2022 and $496.5 million in 2021, a decrease due to increases in market bond yields[304](index=304&type=chunk) [Note 6 — Leases](index=52&type=section&id=Note%206%20%E2%80%94%20Leases) The company leases property and equipment, primarily for distribution and manufacturing, with total lease costs of $25.8 million in fiscal 2022 - The company leases property and equipment under operating lease arrangements, mainly for distribution and manufacturing facilities[306](index=306&type=chunk) - Lease liabilities are discounted using the estimated incremental borrowing rate, which was **2.5% in 2022** and 2.0% in 2021[309](index=309&type=chunk) Operating Lease Liabilities (Millions USD, August 31, 2022) | Fiscal Year | Total Undiscounted Lease Payments | | :---------- | :-------------------------------- | | 2023 | $17.3 | | 2024 | $17.0 | | 2025 | $15.6 | | 2026 | $11.5 | | 2027 | $8.5 | | Thereafter | $21.1 | | Total | $91.0 | | Less: Discount | $(7.9) | | Present Value | $83.1 | - The weighted average remaining lease term for operating leases was **six years** as of August 31, 2022[310](index=310&type=chunk) Total Lease Cost (Millions USD) | Component | FY2022 | FY2021 | FY2020 | | :------------------ | :------ | :------ | :------ | | Operating lease cost | $18.8 | $18.3 | $18.1 | | Variable lease cost | $2.7 | $2.0 | $2.3 | | Short-term lease cost | $4.3 | $2.2 | $2.8 | | Total lease cost | $25.8 | $22.5 | $23.2 | - Impairment charges of **$1.7 million** were recorded in fiscal 2022 for certain leased properties[314](index=314&type=chunk) [Note 7 — Debt and Lines of Credit](index=54&type=section&id=Note%207%20%E2%80%94%20Debt%20and%20Lines%20of%20Credit) Total debt was $513.0 million as of August 31, 2022, primarily consisting of senior unsecured notes, with $577.9 million available under a revolving credit facility Debt Composition (Millions USD) | Debt Component | August 31, 2022 | August 31, 2021 | | :----------------------------------------------------- | :-------------- | :-------------- | | Senior unsecured public notes due December 2030, principal | $500.0 | $500.0 | | Senior unsecured public notes due December 2030, unamortized discount and deferred costs | $(5.0) | $(5.7) | | Short-term borrowings under credit facility | $18.0 | — | | Total debt | $513.0 | $494.3 | - The company has a **$600.0 million** five-year unsecured revolving credit facility, with an ability to request an additional $400.0 million[318](index=318&type=chunk) - As of August 31, 2022, there was **$18.0 million outstanding** under the credit facility and **$577.9 million in additional borrowing capacity**[321](index=321&type=chunk) - The company was in **compliance with all financial covenants** under its credit agreement as of August 31, 2022[321](index=321&type=chunk) [Note 8 — Commitments and Contingencies](index=55&type=section&id=Note%208%20%E2%80%94%20Commitments%20and%20Contingencies) The company self-insures certain risks, manages collective bargaining agreements, and accrues for product warranty costs, which totaled $27.3 million at year-end - The company self-insures traditional risks (workers' compensation, general liability, auto liability) up to certain limits and is fully self-insured for environmental, product recall, warranty, and patent infringement[322](index=322&type=chunk) - Approximately **66% of the total workforce** is covered by collective bargaining agreements, with 54% expiring within one year[325](index=325&type=chunk) - A shareholder derivative complaint was filed on October 1, 2021, against former executives; the Board rejected the demands and directed the company to seek dismissal[326](index=326&type=chunk)[328](index=328&type=chunk) - Management believes the ultimate resolution of pending legal proceedings will **not have a material adverse effect** on financial condition, results of operations, or cash flows[330](index=330&type=chunk) Product Warranty and Recall Costs (Millions USD) | Metric | FY2022 | FY2021 | FY2020 | | :-------------------------- | :------ | :------ | :------ | | Beginning balance | $20.3 | $16.1 | $11.5 | | Warranty and recall costs | $52.4 | $32.3 | $32.0 | | Payments and other deductions | $(45.4) | $(28.4) | $(27.5) | | Ending balance | $27.3 | $20.3 | $16.1 | [Note 9 — Segment Information](index=57&type=section&id=Note%209%20%E2%80%94%20Segment%20Information) The company reports results for its ABL and ISG segments, with ABL generating $3,810.1 million in sales and $545.6 million in operating profit in fiscal 2022 - Financial results are presented for two reportable segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG)[337](index=337&type=chunk) - Corporate expenses, net interest expense, net miscellaneous expense, special charges, and assets are not allocated to segments[338](index=338&type=chunk) Segment Financial Information (Millions USD) | Segment | Metric | FY2022 | FY2021 | FY2020 | | :------ | :----------------- | :-------- | :-------- | :-------- | | ABL | Net sales | $3,810.1 | $3,287.3 | $3,180.9 | | | Operating profit | $545.6 | $476.2 | $425.8 | | | Depreciation and amortization | $79.3 | $84.3 | $83.7 | | ISG | Net sales | $216.1 | $190.0 | $157.0 | | | Operating profit | $22.7 | $9.9 | $(3.9) | | | Depreciation and amortization | $14.4 | $14.7 | $16.3 | | Corporate | Operating loss | $(58.6) | $(58.5) | $(68.0) | | Total | Net sales | $4,006.1 | $3,461.0 | $3,326.3 | | | Operating profit | $509.7 | $427.6 | $353.9 | [Note 10 — Revenue Recognition](index=59&type=section&id=Note%2010%20%E2%80%94%20Revenue%20Recognition) Revenue is recognized upon transfer of control to customers, net of returns and incentives, with the majority derived from short-term contracts for tangible goods - Revenue is recognized when control of goods and services is transferred to customers, net of rebates, sales incentives, product returns, and discounts[345](index=345&type=chunk) - Refund liabilities for product returns were **$28.0 million** in 2022 and $28.1 million in 2021[348](index=348&type=chunk) - Amounts due to customers for incentive programs totaled **$40.7 million** in 2022 and $33.9 million in 2021[349](index=349&type=chunk) - Substantially all revenues are from short-term contracts for tangible goods (luminaires, lighting controls, building systems)[351](index=351&type=chunk) - Professional services and software sales (licenses, data usage, SaaS) are also revenue streams, recognized when service is performed or ratably over the contractual period[353](index=353&type=chunk)[354](index=354&type=chunk) Disaggregated Revenues by Sales Channel (Millions USD) | Sales Channel | FY2022 | FY2021 | FY2020 | | :------------------------ | :-------- | :-------- | :-------- | | ABL: Independent sales network | $2,714.1 | $2,400.5 | $2,284.3 | | ABL: Direct sales network | $384.2 | $358.1 | $329.0 | | ABL: Retail sales | $178.3 | $181.5 | $218.3 | | ABL: Corporate accounts | $222.7 | $168.7 | $191.8 | | ABL: Other | $310.8 | $178.5 | $157.5 | | Total ABL | $3,810.1 | $3,287.3 | $3,180.9 | | ISG | $216.1 | $190.0 | $157.0 | | Eliminations | $(20.1) | $(16.3) | $(11.6) | | Total | $4,006.1 | $3,461.0 | $3,326.3 | [Note 11 — Share-based Payments](index=61&type=section&id=Note%2011%20%E2%80%94%20Share-based%20Payments) The company's stock incentive plan authorizes various equity awards, resulting in a total share-based payment expense of $37.4 million in fiscal 2022 - The Amended and Restated Acuity Brands, Inc 2012 Omnibus Stock Compensation Incentive Plan was approved in January 2022, increasing authorized shares for issuance[363](index=363&type=chunk) - Shares available for grant under the Stock Incentive Plan were approximately **1.1 million** at August 31, 2022[364](index=364&type=chunk) Total Share-based Payment Expense (Millions USD) | Fiscal Year | Total Share-based Payment Expense | | :---------- | :-------------------------------- | | 2022 | $37.4 | | 2021 | $32.5 | | 2020 | $38.2 | - As of August 31, 2022, there was **$30.0 million** of total unrecognized compensation cost for restricted stock, expected to be recognized over 1.5 years[370](index=370&type=chunk) - As of August 31, 2022, there was **$8.9 million** of total unrecognized compensation cost for unvested stock options, expected to be recognized over 1.7 years[379](index=379&type=chunk) - As of August 31, 2022, there was **$9.0 million** of total unrecognized compensation cost for unvested performance stock units, expected to be recognized over 1.5 years[381](index=381&type=chunk) - The Employee Stock Purchase Plan allows employees to purchase common stock at a **5% discount**[386](index=386&type=chunk) [Note 12 — Pension and Defined Contribution Plans](index=65&type=section&id=Note%2012%20%E2%80%94%20Pension%20and%20Defined%20Contribution%20Plans) The company sponsors pension plans with a combined underfunded status of $37.5 million and contributes to defined contribution plans for its employees Pension Plan Funded Status (Millions USD, August 31, 2022) | Plan Type | Benefit Obligation | Plan Assets | Funded Status | | :---------- | :----------------- | :---------- | :------------ | | Domestic | $176.0 | $141.5 | $(34.5) | | International | $31.5 | $28.5 | $(3.0) | Net Periodic Pension Cost (Millions USD, before tax) | Component | Domestic Plans FY2022 | International Plans FY2022 | | :------------------------- | :-------------------- | :------------------------- | | Service cost | $4.4 | $0.4 | | Interest cost | $5.3 | $0.9 | | Expected return on plan assets | $(11.2) | $(2.6) | | Amortization of prior service cost | $2.9 | — | | Settlement | $0.4 | — | | Recognized actuarial loss | $2.4 | $0.9 | | Net periodic pension cost | $4.2 | $(0.4) | Weighted Average Assumptions for Benefit Obligation (August 31, 2022) | Assumption | Domestic Plans | International Plans | | :------------------------ | :------------- | :------------------ | | Discount rate | 4.4% | 4.9% | | Rate of compensation increase | 5.0% | 3.5% | Pension Plan Asset Allocation (August 31, 2022) | Asset Category | Domestic Plans | International Plans | | :----------------------- | :------------- | :------------------ | | Equity securities | 31.6% | 16.8% | | Fixed income securities | 61.2% | 22.8% | | Multi-strategy investments | —% | 60.4% | | Real estate | 7.2% | —% | | Total | 100.0% | 100.0% | - Contributions to multi-employer pension plans were **$0.5 million** in fiscal 2022[415](index=415&type=chunk) - Employer matching contributions to defined contribution plans totaled **$10.5 million** in fiscal 2022[416](index=416&type=chunk) [Note 13 — Common Stock and Related Matters](index=71&type=section&id=Note%2013%20%E2%80%94%20Common%20Stock%20and%20Related%20Matters) The company repurchased 2.9 million shares in fiscal 2022, resulting in diluted EPS of $11.08 based on 34.645 million weighted average shares Common Stock Changes (Millions of Shares) | Metric | Shares (Millions) | | :---------------------------------------- | :---------------- | | Balance at August 31, 2019 | 53.8 | | Issuance of restricted stock grants, net of cancellations | 0.1 | | Balance at August 31, 2020 | 53.9 | | Issuance of restricted stock grants, net of cancellations | 0.1 | | Stock options exercised | — | | Balance at August 31, 2021 | 54.0 | | Issuance of restricted stock grants, net of cancellations | 0.1 | | Stock options exercised | 0.1 | | Balance at August 31, 2022 | 54.2 | - As of August 31, 2022, **21.8 million repurchased shares** were recorded as treasury stock at a cost of **$2.18 billion**[419](index=419&type=chunk) - The company repurchased approximately **2.9 million shares** of common stock in fiscal 2022[419](index=419&type=chunk) - **No preferred stock** was issued or outstanding in fiscal 2022 or 2021[421](index=421&type=chunk) Earnings Per Share Calculation (Millions, except per share data) | Metric | FY2022 | FY2021 | FY2020 | | :-------------------------------------- | :-------- | :-------- | :-------- | | Net income | $384.0 | $306.3 | $248.3 | | Basic weighted average shares outstanding | 34.182 | 36.284 | 39.453 | | Common stock equivalents | 0.463 | 0.270 | 0.148 | | Diluted weighted average shares outstanding | 34.645 | 36.554 | 39.601 | | Basic earnings per share | $11.23 | $8.44 | $6.29 | | Diluted earnings per share | $11.08 | $8.38 | $6.27 | [Note 14 — Income Taxes](index=73&type=section&id=Note%2014%20%E2%80%94%20Income%20Taxes) The company's effective income tax rate was 22.3% in fiscal 2022, with net deferred tax liabilities of $(100.8) million at year-end - Income taxes are accounted for using the asset and liability approach[427](index=427&type=chunk) - The Inflation Reduction Act (IRA) is **not expected to have a material impact** on financial condition, results of operations, or cash flows[428](index=428&type=chunk) Provision for Income Taxes (Millions USD) | Component | FY2022 | FY2021 | FY2020 | | :-------------------------------- | :------ | :------ | :------ | | Provision for current federal taxes | $67.6 | $65.4 | $54.6 | | Provision for current state taxes | $16.3 | $12.8 | $12.5 | | Provision for current foreign taxes | $25.4 | $14.4 | $16.0 | | Provision for (benefit from) deferred taxes | $0.6 | $(2.7) | $(6.7) | | Total provision for income taxes | $109.9 | $89.9 | $76.4 | Reconciliation of Federal Statutory Rate to Total Provision (Millions USD) | Item | FY2022 | FY2021 | FY2020 | | :---------------------------------------- | :------ | :------ | :------ | | Federal income tax computed at statutory rate | $103.7 | $83.2 | $68.2 | | State income tax, net of federal income tax benefit | $13.5 | $10.7 | $9.7 | | Research and development tax credits | $(7.6) | $(7.6) | $(7.1) | | Unrecognized tax benefits | $2.1 | $0.7 | $1.8 | | Total provision for income taxes | $109.9 | $89.9 | $76.4 | Net Deferred Income Tax Liabilities (Millions USD) | Component | August 31, 2022 | August 31, 2021 | | :-------------------------------- | :-------------- | :-------------- | | Total deferred income tax liabilities | $(198.5) | $(196.7) | | Total deferred income tax assets | $109.2 | $107.1 | | Valuation allowance | $(11.5) | $(9.5) | | Net deferred income tax liabilities | $(100.8) | $(99.1) | - Gross unrecognized tax benefits totaled **$19.5 million** at August 31, 2022, with $18.8 million impacting the effective tax rate if recognized[435](index=435&type=chunk) [Note 15 — Supplemental Disaggregated Information](index=75&type=section&id=Note%2015%20%E2%80%94%20Supplemental%20Disaggregated%20Information) Domestic operations generated $3,486.4 million in net sales and $428.3 million in operating profit in fiscal 2022, representing the majority of the company's business - Sales of lighting, lighting controls, and building technology solutions accounted for approximately **99% of total consolidated net sales** in fiscal 2022, 2021, and 2020[439](index=439&type=chunk) Geographic Distribution of Financial Information (Millions USD) | Metric | Geographic | FY2022 | FY2021 | FY2020 | | :-------------------------- | :--------- | :-------- | :-------- | :-------- | | Net sales | Domestic | $3,486.4 | $2,982.4 | $2,925.0 | | | International | $519.7 | $478.6 | $401.3 | | | Total | $4,006.1 | $3,461.0 | $3,326.3 | | Operating profit | Domestic | $428.3 | $369.9 | $300.6 | | | International | $81.4 | $57.7 | $53.3 | | | Total | $509.7 | $427.6 | $353.9 | | Income before income taxes | Domestic | $409.6 | $343.7 | $274.2 | | | International | $84.3 | $52.5 | $50.5 | | | Total | $493.9 | $396.2 | $324.7 | | Long-lived assets | Domestic | $325.9 | $284.4 | $298.6 | | | International | $73.5 | $76.6 | $64.8 | | | Total | $399.4 | $361.0 | $363.4 | PART III [Item 10. Directors, Executive Officers, and Corporate Governance.](index=77&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%2C%20and%20Corporate%20Governance.) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2023 proxy statement - Information on directors, executive officers, and corporate governance is **incorporated by reference** from the proxy statement for the annual meeting on January 25, 2023[447](index=447&type=chunk)[448](index=448&type=chunk) [Item 11. Executive Compensation.](index=77&type=section&id=Item%2011.%20Executive%20Compensation.) Details on executive compensation are incorporated by reference from the company's 2023 proxy statement - Executive compensation information is **incorporated by reference** from the proxy statement for the annual meeting on January 25, 2023[449](index=449&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.](index=77&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters.) Information concerning security ownership is incorporated by reference from the company's 2023 proxy statement - Security ownership information is **incorporated by reference** from the proxy statement for the annual meeting on January 25, 2023[450](index=450&type=chunk) [Item 13. Certain Relationships and Related Transactions, and Director Independence.](index=77&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence.) Information regarding related party transactions and director independence is incorporated by reference from the company's 2023 proxy statement - Information on certain relationships, related party transactions, and director independence is **incorporated by reference** from the proxy statement for the annual meeting on January 25, 2023[451](index=451&type=chunk) [Item 14. Principal Accountant Fees and Services.](index=77&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services.) Information concerning principal accountant fees and services is incorporated by reference from the company's 2023 proxy statement - Information concerning principal accountant fees and services is **incorporated by reference** from the proxy statement for the annual meeting on January 25, 2023[452](index=452&type=chunk) PART IV [Item 15. Exhibits and Financial Statement Schedules.](index=78&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules.) This section lists all documents filed as part of the report, including financial statements, auditor reports, and an index to all exhibits - This item lists all documents filed as part of the report, including financial statements, reports of independent registered public accounting firm, and an index to exhibits[454](index=454&type=chunk) - Exhibits include corporate organizational documents (Restated Certificate of Incorporation, Bylaws), debt instruments (Indenture, Supplemental Indenture), and various management contracts and compensatory arrangements[456](index=456&type=chunk)[457](index=457&type=chunk)[458](index=458&type=chunk)[459](index=459&type=chunk)[460](index=460&type=chunk)[461](index=461&type=chunk)[462](index=462&type=chunk)[463](index=463&type=chunk)[464](index=464&type=chunk)[465](index=465&type=chunk)[466](index=466&type=chunk)[467](index=467&type=chunk)[468](index=468&type=chunk)[469](index=469&type=chunk) [Item 16. Form 10-K Summary.](index=86&type=section&id=Item%2016.%20Form%2010-K%20Summary.) This item indicates that no Form 10-K Summary is provided - No Form 10-K Summary is provided[476](index=476&type=chunk) SIGNATURES The report is duly signed by the company's principal executive and financial officers, along with other directors, as of October 26, 2022 - The report was signed by Neil M Ashe, Chairman, President and Chief Executive Officer, and Karen J Holcom, Senior Vice President and Chief Financial Officer, on **October 26, 2022**[477](index=477&type=chunk)[478](index=478&type=chunk)

Acuity Brands, Inc. (NYSE:AYI) Q4 2022 Earnings Conference Call October 4, 2022 8:00 AM ET Company Participants Charlotte McLaughlin - Vice President of Investor Relations Neil Ashe - Chairman, President and Chief Executive Officer Karen Holcom - Senior Vice President and Chief Financial Officer Conference Call Participants Tim Wojs - Robert W. Baird John Walsh - Credit Suisse Chris Snyder - UBS Christopher Glynn - Oppenheimer Joe O'Dea - Wells Fargo Jeffrey Sprague - Vertical Research Partners Ryan Merkel ...

Acuity Brands, Inc. (NYSE:AYI) Q3 2022 Earnings Conference Call June 30, 2022 8:00 AM ET Company Participants Charlotte McLaughlin - Vice President, Investor Relations Neil Ashe - Chairman, President and CEO Karen Holcom - Senior Vice President and CFO Conference Call Participants Christopher Snyder - UBS John Walsh - Credit Suisse Christopher Glynn - Oppenheimer Ryan Merkel - William Blair Josh Chan - Robert W. Baird & Co. Jeffrey Osborne - Cowen & Company Miguel De Jesus - Goldman Sachs Operator Good morn ...