Company: GWW
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001104659-25-021496
Chunk: 126

Company: W.W. GRAINGER, INC.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 126
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. business.                                             | ​ |
| Adjusted Operating Margin—Total Company (PSU)              | ​ | ​ | The Company’s operating earnings adjusted for the impact of certain divested businesses in the period divided by reported sales on a consolidated basis for the period.                                                                                                                                                                                                                                                                                   | ​ | ​ | Modified for a three-year performance cycle average.                                                               | ​ | ​ | Provides a better baseline for analyzing the Company’s ongoing performance excluding items that may not be indicative of core operating results. | ​ |

| ​ | CORPORATEGOVERNANCE | ​ | ​ | PROPOSAL 1:ELECTION OFDIRECTORS | ​ | ​ | PROPOSAL 2:RATIFY THEINDEPENDENTAUDITOR | ​ | ​ | EXECUTIVECOMPENSATION | ​ | ​ | PROPOSAL 3:SAY ON PAY | ​ | ​ | PROPOSAL 4: APPROVALAND ADOPTION | ​ | ​ | QUESTIONS ANDANSWERS | ​ | ​ | APPENDICES | ​ |

TABLE OF CONTENTS

| ​ | ● | ​ | ​ | B-2 | ​ | ​ | 2025proxy statement | ​ |

GAAP to Non-GAAP Financial Measures and Compensation Metric Reconciliations
(In millions of dollars, except for percentage data)

| ​ | Adjusted ROIC—Total Company            | ​ | ​ | ​ | Total |   |        |   | ​ | ​ | ​ | Q4 2024 |   |        |   | ​ | ​ | ​ | Q3 2024 |   |        |   | ​ | ​ | ​ | Q2 2024 |   |        |   | ​ | ​ | ​ | Q1 2024 |   |        |   | ​ | ​ | ​ | Q4 2023 |   |        |   | ​ |
| ​ | Reported operating earnings (GAAP)     | ​ | ​ | ​ | ​     | ​ | $2,637 | ​ | ​ | ​ | ​ | ​       | ​ |      ​ | ​ | ​ | ​ | ​ | ​       | ​ |      ​ | ​ | ​ | ​ | ​ | ​       | ​ |      ​ | ​ | ​ | ​ | ​ | ​       | ​ |      ​ | ​ | ​ | ​ | ​ | ​       | ​ |      ​ | ​ | ​ |
| ​ | Restructuring charges(1)               | ​ | ​ |