Environmental, Social & Governance Report 2023
Reconciliation of Net Income to Non-GAAP Net Income
The following table presents a reconciliation of CoStar Group's, Non-GAAP Net Income, including forward-looking guidance Non-GAAP Net Income, to the most
directly comparable GAAP financial measure, net income.
For the Nine
For the Year Ended December 31,
December 31,
(in thousands) except per share amounts
Low 2023 (1)
High 2023 (1)
2023 - Low (1)
For the Three Months Ended
December 31,
2023 - High(1)
September 30,
2023
Months Ended
September 30,
2023
Net income
Income tax expense
$
376,000
123,000
380,000
124,000
$
97,000
33,000
$
101,000
34,000
$
90,574
29,907
$
278,225
90,272
Income before income taxes
499,000
504,000
130,000
135,000
120,481
368,497
Amortization of acquired intangible assets
73,000
73,000
18,000
18,000
18,707
54,364
Stock-based compensation expense
86,000
86,000
22,000
22,000
21,899
63,770
Acquisition and integration related costs
3,000
3,000
1,000
1,000
796
2,272
Restructuring and related costs
Settlements and impairments
4,000
4,000
509
3,880
(107)
Non-GAAP income before income taxes
Asssumed rate for income tax expense
Assumed provision for income tax expesne
Non-GAAP net income
665,000
(2)
26%
670,000
26%
171,000
176,000
26%
26%
162,392
26%
492,676
26%
(172,900)
$
492,100 $
(174,200)
495,800
(44,500)
$
126,500
$
(45,800)
130,200
(42,222)
(128,096)
$
120,170 $
364,580
Net income per share - diluted
Non-GAAP net income per share - diluted
Weighted average outstanding shares - diluted
(1)
Represents forward-looking guidance.
$
0.92
$
0.93
$
0.24
$
0.25
$
0.22
$
0.68
$
1.21
$
1.22
$
0.31
$
0.32
$
0.30
$
0.90
406,800
406,800
(2) The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period.
407,400
407,400
407,229
406,713
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