Impact of Additional Week on Net Sales
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Year Ended September 30, 2022
Acquisition-
Related
U.S. GAAP
Charges
(1)
Adjustments
Restructuring
and Other
Charges, Net (1)(2) Tax Items
($ in millions, except per share data)
(3)
Adjusted
(Non-GAAP)
(4)
STE
connectivity
Operating income:
Transportation Solutions
$
1,534
$
16 $
68 $
$
1,618
Industrial Solutions
607
32
66
705
Communications Solutions
615
5
23
643
Total
$
2,756
$
53
$
157
$
$
2,966
16.9 %
18.2 %
Operating margin
Other income, net
$
28
$
$
$
17
Income tax expense
$
(306)
$
(11)
$
(34)
$
(200)
$
(551)
Effective tax rate
11.2 %
18.8 %
Income from continuing operations
$
2,427
$
42
$
123
$
(211)
$
2,381
Diluted earnings per share from
continuing operations
$
7.47
$
0.13
$
0.38
$
(0.65)
$
7.33
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax
laws in effect for each such jurisdiction.
(2) Includes $141 million recorded in net restructuring and other charges and $16 million recorded in cost of sales.
(3)
Includes a $124 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit
related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance
associated primarily with improved current and expected future operating profit and taxable income. Also includes $27 million of income tax
expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen and $12
million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income
pursuant to the terms of the purchase agreement.
(4)
24
See description of non-GAAP financial measures.View entire presentation