Q1 2023 Financial Performance
21
Reconciliation of Net Income to Adjusted Net Income
(Unaudited; in millions)
For the Three Month Period
Ended March 31,
Net Income
Less: Loss from discontinued operations
Less: Income tax benefit from discontinued operations
Income from Continuing Operations
2023
2022
$
163.2 $
104.5
(1.8)
0.4
163.2
105.9
Plus:
Provision for income taxes
48.1
32.4
Amortization of acquisition related intangible assets
89.8
82.6
Restructuring and related business transformation costs
4.3
14.2
Acquisition and other transaction related expenses and non-cash charges
18.0
9.5
Stock-based compensation
12.1
19.8
Foreign currency transaction losses (gains), net
1.0
(3.8)
Loss (income) on equity method investments
(0.3)
4.3
Adjustments to LIFO inventories
Other adjustments
Minus:
7.8
(6.1)
(5.2)
Income tax provision, as adjusted
75.6
58.5
Interest income on cash and cash equivalents
(4.7)
Adjusted Net Income
$
267.0 $
201.2
R) Ingersoll RandView entire presentation