Investor Presentaiton
Fourth Quarter and Full-Year Reconciliation to
US GAAP
Adjusted Earnings Per Diluted Share
The Company defines adjusted earnings per diluted share as earnings per diluted share adjusted to eliminate the impact of restructuring expense, merger, acquisition
and divestiture expense, other net expenses, discontinued operations, other gains and losses not reflective of the Company's ongoing operations, and related tax effects.
The non-comparable items presented below are calculated after tax using the corresponding effective tax rate discrete to each item and the weighted average number
of diluted shares for each of the periods then ended.
21
Earnings per diluted share
Non-comparable items:
Three Months Ended
December 31,
2022
2021
Twelve Months
Ended December 31,
2022
2021
$
1.09 $ 0.54 $
3.99 $
2.24
Restructuring expense
0.07
0.20
0.58
Merger, acquisition and divestiture expense, net
0.05
0.15
0.19
Asset impairments and lease modifications
0.13
0.05
0.13
0.05
Other, primarily asset write-offs
0.06
(0.01)
Loss (gain) on sales of businesses
0.01
0.11
(0.04)
0.13
Unrealized loss on debt and equity securities
0.14
0.08
0.25
1.15
Customer warranty settlement
0.26
0.26
Loss on debt extinguishment
0.06
Tax adjustments
(0.11)
(0.10)
(0.14)
(0.50)
Adjusted earnings per diluted share
A
1.26 $
1.06 $
4.60 $
4.15
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