Ryder 2022 Investor Day
Adjusted Return on Equity Reconciliation ¹ ($M)
2022 Forecast as
of 1Q22
Revised 2022
Forecast
705
Net earnings
Other items impacting comparability, net
Income taxes²
670
$
(35)
(35)
295
290
Adjusted earnings before income taxes
930
960
Adjusted income taxes³
(250)
(250)
Adjusted net earnings [A]
$
680
710
Average shareholders' equity
$
2,840
$
Average adjustments to shareholders' equity4
5
2,840
5
Adjusted average shareholders' equity [B]
2,845
2,845
Adjusted return on equity¹ [A]/[B]
24.0 %
25.0 %
1 Non-GAAP elements of this calculation have been reconciled to the corresponding GAAP measures. A numerical reconciliation of net earnings to adjusted net earnings and average shareholders' equity to adjusted average
total equity is provided on this slide. 2 Includes income taxes on discontinued operations. 3 Represents provision for income taxes plus income taxes on other items impacting comparability. 4 Represents the impact of other
items impacting comparability, net of tax, to equity for the respective period. 5 Other items impacting comparability are comprised of the following:
2022 Forecast as
of 1Q22
Revised 2022
Forecast
Restructuring and Other, Net
$
40.0
$
40.0
Gains on sale of properties
(35.0)
(35.0)
Gains on sale of U.K. revenue earning equipment
Other items impacting comparability
(40.0)
(40.0)
$
(35.0)
$
(35.0)
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS
RYDER 2022 INVESTOR DAY
Note: Amounts may not be additive due to rounding.
Ryder
Ever better.™
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