2022 Full Year Guidance and Strategic Outlook
ENVISTA HOLDINGS CORPORATION
NOTES TO RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)
A We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as
the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Envista Business System. These restructuring plans are
incremental to the operating activities that arise in the ordinary course of our business and we believe are not indicative of Envista's ongoing operating costs in a given period.
B Represents accruals for certain legal matters.
C The international tax credit relates to a ruling from the Brazilian Supreme Court.
D These transaction costs are primarily related to the pending acquisition of Carestream Dental's intraoral scanner business.
E Non-cash interest expense represents accretion of the debt discount associated with the convertible senior notes due 2025. We adopted Accounting Standards Update 2020-06
on January 1, 2022 and as a result there is no longer a debt discount that requires amortization.
F This line item reflects the aggregate tax effect of all pretax adjustments reflected in the preceding line items of the table using each adjustment's applicable tax rate, including
the effect of interim tax accounting requirements of Accounting Standards Codification Topic 740 Income Taxes.
G The discrete tax matters relate primarily to excess tax benefits from stock-based compensation, changes in estimates associated with prior period uncertain tax positions and
audit settlements, tax benefits resulting from a change in law, and changes in determination of realization of certain deferred tax assets.
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