Investor Presentaiton
Reconciliation of GAAP to Adjusted Results
Reconciliation of Income Tax Expense from Continuing Operations to Adjusted Income Tax Expense from Continuing
Operations (in thousands)
42
Three Months Ended
September 29,
2023
September 30,
2022
Twelve Months Ended
September 29, September 30,
2023
2022
Income Tax Expense from Continuing
Operations
$
(72,852) $
(39,358)
$
(196,181) $
(160,903)
Tax Effects of Restructuring, Transaction
and Other Charges (1)
Focus 2023 Transformation, mainly real
estate rescaling efforts
(2,142)
Transaction costs
136
(1,049)
(1,388)
(12,011)
(2,773)
(17,138)
(5,865)
Restructuring, integration and separation
charges
(6,093)
(23,910)
(13,888)
(42,885)
Tax Effects of Other Adjustments (2)
Amortization of intangibles
(12,295)
Other income tax adjustments
Other
12,610
954
(11,736)
13,987
(48,599)
(983)
(55)
(44,627)
3,185
Adjusted Income Tax Expense from
Continuing Operations
$
(79,682) $
(63,454)
$
(274,490) $
(268,233)
(1) Includes estimated income tax 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 income tax expense 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 income tax impacts on amortization of intangible assets for the three months and year 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