Investor Presentaiton
Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share
Three Months Ended December 31,
Year Ended December 31,
$ per share (unaudited)
Reported diluted income (loss) per share
Adjusting items, after tax (per share) (2) (3)
2022
2021
As Adjusted (1)
2021
2022
As Adjusted (1)
(1.73)
(Unaudited)
$
(Unaudited)
(0.18) $
3.59
(1.73)
Net inventory LCM valuation (benefit) loss
Other inventory impact
(0.19)
0.08
0.02
0.09
2.17
(0.64)
3.57
(2.26)
El Dorado refinery fire net losses, net of related recoveries
Business interruption insurance recoveries
0.04
0.08
(0.06)
(0.10)
(0.34)
(0.10)
Total unrealized hedging (gain) loss where the hedged item is
not vet recognized in the financial statements
0.55
(0.06)
0.25
0.07
Non-cash change in fair value of S&O Obligation associated
with hedging activities
|
(0.07)
Non-operating litigation accrual related to pre-Delek/Alon
Merger shareholder action
0.07
Contract termination recoveries in excess of amounts that
have or will impact net income
Transaction related expenses
(0.10)
0.11
Restructuring costs
Total adjusting items (2)
0.14
2.61
0.13
Adjusted net income (loss) per share
S
0.88 $
(0.68)
(0.86) $
3.74
(2.22)
7.33
(3.95)
(1) Adjusted to reflect the retrospective change in accounting policy from LIFO to FIFO for certain inventories.
The adjustments have been tax effected using the estimated marginal tax rate, as applicable.
(3) For periods of Adjusted net loss, Adjustments (Adjusting Items) and Adjusted net loss per share are presented using basic weighted average shares outstanding.
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