CMS Separation Overview
Reconciliation of GAAP to Adjusted Results
31
Reconciliation of Operating Profit to Adjusted Operating Profit
Three Months Ended
June 30, 2023
Operating Profit
269,741
July 1, 2022
265,762
Nine Months Ended
June 30, 2023 July 1, 2022
797,408
609,310
Restructuring, Transaction and Other
Charges (1)
Focus 2023 Transformation, mainly real
estate rescaling efforts
1,400
2,237
40,228
84,048
Transaction costs
4,062
5,443
15,613
18,204
Restructuring, integration and separation
charges
29,783
2,470
38,900
108,734
Other Adjustments (2)
Amortization of intangibles
51,985
51,551
152,232
146,889
Other
Adjusted Operating Profit
$
4,016
360,987 $
327,463
$
5,142
1,049,523 $
967,185
(1) Includes estimated operating profit impacts from restructuring charges relating to the Company's investment in PA Consulting and relating
to the separation activities around the CMS spin-off for the three- and nine-months ended June 30, 2023, along with real estate impairments
associated with the Company's Focus 2023 transformation program for the three- and nine-months ended June 30, 2023 and July 1, 2022
and for the nine months ended July 1, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded
reserves, as well as operating profit 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 operating profit impacts from amortization of intangible assets for the three- and nine-months ended June 30, 2023
and July 1, 2022 and estimated operating profit impacts on certain subsidiary level contingent equity-based agreements in connection with the
transaction structure of our PA Consulting investment for the three- and nine-months ended June 30, 2023.
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