Investor Presentaiton
Reconciliation of GAAP Net Revenues to Non-GAAP Net Revenues, GAAP Operating Income
to Non-GAAP Operating Income, and GAAP Operating Margin to Non-GAAP Operating
Margin
Three Months Ended
Year Ended December 31,
(In Millions, Except Percentages/
Unaudited)
March 31,
2023
December
31, 2022
September
30, 2022
June 30,
2022
March 31,
2022
December
31, 2021
September
30, 2021
June 30,
2021
March 31,
2021
December
2022
2021
2020
2019
2017
2015
GAAP net revenues
$ 7,040 $
7,383
$
6,846
$ 6,806
$ 6,483 $
6,918
$
6,182
$ 6,238
$ 6,033
$
31, 2020
6,116
$ 27,518
$ 25,371
$ 21,454
$ 17,772
-
Non-GAAP adjustment(¹)
$ 13,098
(39)
$ 9,248
-
Non-GAAP net revenues
$ 7,040
$
7,383
$ 6,846
$ 6,806
$ 6,483
$
6,918
$
6,182
$ 6,238
$ 6,033
$
6,116
$ 27,518
$ 25,371
$ 21,454
$ 17,772
$ 13,059
$ 9,248
GAAP operating income
999
1,244
1,118
764
711
1,050
1,043
1,127
1,042
963
3,837
4,262
3,289
2,719
2,127
1,461
Stock-based compensation expense
and related employer payroll taxes
380
308
239
329
479
339
316
417
467
395
1,355
1,539
1,472
1,104
761
356
Amortization of acquired intangible
assets
Restructuring
Other
Separation
REGI
123 1
21
I
57
116
119
119
117
116
110
109
106
108
471
441
450
211
129
85
117
8
71
20
(5)
32
35
122
27
109
78
40
48
47
17
33
19
16
1
6
26
9
85
48
16
(302)
―
21
$སེཤྩ།
40
15
Acquisition-related transaction
20
expense
20
3
10
Total non-GAAP operating income
adjustments
Non-GAAP operating income
GAAP operating margin
Non-GAAP operating margin
601
$ 1,600
$
449
1,693
414
$
1,532
538
$ 1,302
632
457
$ 1,343
$
1,507
$
427
1,470
527
631
$ 1,654
$ 1,673
$
547
1,510
2,033
2,042
2,099
1,412
628
514
$ 5,870 $ 6,304 $ 5,388 $ 4,131 $ 2,755
$ 1,975
14.2 %
22.7%
16.8 %
22.9 %
16.3 %
22.4 %
11.2 %
19.1 %
11.0 %
20.7%
15.2 %
21.8 %
16.9 %
23.8 %
18.1 %
26.5%
17.3 %
27.7%
15.7%
24.7%
13.9%
21.3 %
16.8%
24.8 %
15.3 %
25.1 %
15.3%
23.2 %
16.2%
21.1 %
15.8 %
21.4 %
(1) Elimination of allowance on interest receivable due to the U.S. Consumer Credit receivables portfolio designation as held for sale.
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