Growing Organically Through Innovation and Commercial Excellence
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(M)
(Unaudited)
Third Quarter
Nine Months
2023
2022
2023
2022
Net Sales
$504.3
$487.8
$1,508.8
$1,477.6
Operating income - as reported
$87.1
$80.4
$272.2
$247.8
Operating margin %
17.3%
16.5%
18.0%
16.8%
Adjustments for special items:
Restructuring
$0.4
$1.7
$1.7
$4.4
Acquisition related costs
$3.1
$5.0
Operating income - as adjusted
$90.6
$82.1
$278.9
$252.2
Adjusted operating margin %
18.0%
16.8%
18.5%
17.1%
Net income as reported
$65.8
$58.7
$206.4
$182.9
Adjustments for special items - tax effected:
Restructuring
$0.3
$1.3
$1.2
$3.3
Acquisition related costs
$2.3
$3.6
Net income as adjusted
$68.4
$60.0
$211.2
$186.2
Earnings per share
Diluted earnings per share - as reported
$1.96
$1.75
$6.15
$5.43
Adjustments for special items
$0.08
0.04
$0.15
0.10
Diluted earnings per share - as adjusted
$2.04
$1.79
$6.30
$5.53
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