Investor Presentaiton
Reconciliation of GAAP to Adjusted Results
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted Net Earnings
Attributable to Jacobs from Continuing Operations (in thousands)
40
40
Net Earnings Attributable to Jacobs from
Continuing Operations
Three Months Ended
September 29,
2023
September 30,
2022
Twelve Months Ended
September 29, September 30,
2023
2022
$
149,732 $
224,663 S
666,619 $
644,071
After-tax effects of Restructuring,
Transaction and Other Charges (1):
Focus 2023 Transformation, mainly real
estate rescaling efforts
5,959
2,715
35,384
63,558
Transaction costs
113
4,139
11,060
17,867
Restructuring, integration and separation
charges
41,058
(49,200)
67,549
36,568
After-tax effects of Other Adjustments (2):
Amortization of intangibles
34,371
Other income tax adjustments
Other
12,469
(2,146)
34,572
14,171
135,426
(773)
626
131,537
3,559
Adjusted Net Earnings Attributable to
Jacobs from Continuing Operations
241,556 $
231,060
$
915,891 $
897,164
(1) Includes estimated after-tax and related noncontrolling interest impacts from the separation activities around the CMS spin-off and from
restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along
with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended
September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the
Legacy CH2M Matter, net of previously recorded reserves, third party recoveries recorded as receivables reducing SG&A, as well as net earnings
impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity associated with
Company restructuring and integration programs.
(2) Includes estimated after-tax and noncontrolling interest impacts from amortization of intangible assets for the three months and years
ended September 29, 2023 and September 30, 2022, certain income tax adjustments for the purposes of presenting the Company's expected
annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and
comparisons to the Company's operating performance in other periods for the three months ended September 29, 2023 and September 30,
2022 and additionally, for the year-to-date periods, impacts related to tax rate increases in the UK in a prior period and estimated tax impacts
on certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment
for the three months and year ended September 29, 2023.
Jacobs 2023View entire presentation