Capital Allocation and Growth Strategy
Reconciliation of GAAP and Non-GAAP Information
Year-ending: December 31, 2021
In Millions of Dollars Except Per
Share Amounts
Gross Profit
Operating Profit
Interest-
Expense, Net
Net Income
GAAP results
$4,048.6
$2,043.7
$127.4
Income
Per Share-
Diluted
$1,477.5
$7.11
Business realignment activities
Acquisition and integration-related activities
Noncontrolling interest share of business realignment
and impairment charges
Other miscellaneous benefits
Tax effect of all adjustments reflected above
Adjustments:
Derivative mark-to-market gains
(24.4)
(24.4)
5.2
16.6
2.7
33.1
(15.2)
(0.12)
13.5
0.09
25.5
0.16
5.3
0.03
(15.2)
(13.7)
(0.07)
(0.01)
Non-GAAP results
$4,032.1
$2,053.9
$127.4
$1,492.8
$7.19
As reported gross margin
Non-GAAP gross margin (1)
45.1%
44.9%
As reported operating profit margin
Non-GAAP operating profit margin (2)
22.8%
22.9%
1: Calculated as non-GAAP gross profit as a percentage of net sales for the period presented. | 2: Calculated as non-GAAP operating profit as a percentage of net sales for the period presented.View entire presentation