FY2023 Separation Roadmap
Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted
Earnings from Continuing Operations Before Taxes (in thousands)
34
4
Three Months Ended
December 29, December 30,
2023
2022
Earnings from Continuing Operations Before
Taxes
$
165,749 $
197,481
Restructuring, Transaction and Other
Charges (1):
Focus 2023 Transformation, mainly real
estate rescaling efforts
49
27,172
Transaction costs
13,949
5,270
Restructuring, integration, separation and
other charges
41,320
7,272
Other Adjustments (2):
Amortization of intangibles
51,119
49,773
Other
11,386
4,290
Adjusted Earnings from Continuing
Operations Before Taxes
$
283,572 $
291,258
(1) Includes pre-tax non-cash charges primarily relating to the Separation Transaction for the three months ended December 29, 2023, and
real estate impairments charges associated with the Company's Focus 2023 transformation program of $27.1 million charges associated with
various transaction costs incurred with our acquisition and restructuring related activity associated with Company restructuring and integration
programs for the three-months ended December 30, 2022.
(2) Includes pre-tax charges for the removal of amortization of intangible assets and the impact of certain subsidiary level contingent equity-
based agreements in connection with the transaction structure of our PA Consulting investment of $1.6 million and $4.3 million for the three
months ended December 29, 2023 and December 30, 2022, respectively. The three months ended December 29, 2023 also includes an
approximate $10 million intangibles impairment charge.View entire presentation