Investor Presentaiton
Reconciliation of Adjusted Financial Measures
to U.S. GAAP (cont.)
Moody's Corporation Diluted EPS Reconciliation
2017
2018
2019
2020
2021
2022F1
Diluted EPS - U.S. GAAP
$5.15
$6.74
$7.42
$9.39
$11.78
$11.50 $12.00
Acquisition-Related Intangible Amortization Expenses
$0.23
$0.40
$0.42
$0.51
$0.65
-$0.90
Acquisition-Related Expenses
$0.10
$0.03
$0.02
Restructuring
$0.19
$0.23
$0.20
Impact of U.S. tax reform
$1.28
($0.30)
Net Impact of U.S./European tax change on deferred taxes
($0.01)
CCXI Gain
Purchase Price Hedge Gain
($0.31)
($0.37)
Increase to non-U.S. UTPS
$0.33
Captive insurance company settlement
$0.06
Tax charge pursuant to the divestiture of MAKS
$0.07
Loss pursuant to the divestiture of MAKS
$0.07
$0.05
Non-cash gain relating to minority investment in BitSight²
($0.14)
Adjusted Diluted EPS
$6.07
$7.39
$8.29
$10.15
$12.29
$12.40 $12.90
1.
2.
See press release titled "Moody's Corporation Reports Results for Fourth Quarter and Full Year 2021; Sets Full Year 2022 and Medium-Term Outlooks" from February 10, 2022 for Moody's complete full year 2022 guidance.
Represents a non-cash gain recognized in the fourth quarter of 2021 pursuant to the Company's minority investment in BitSight, which was completed in October 2021. Under the terms of the transaction, Moody's contributed $250 million in
cash and its minority investment in Visible Risk in exchange for a minority investment in BitSight.
Note: Table may not sum to total due to rounding.
Moody's | Better decisions
4Q & FY 2021 Investor Presentation
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