Charles River - JP Morgan Conference Presentation
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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
RECONCILIATION OF GAAP TO NON-GAAP
SELECTED BUSINESS SEGMENT INFORMATION (UNAUDITED) (¹)
(in thousands, except percentages)
Unallocated Corporate Overhead
Add back:
Severance
Acquisition related adjustments
Other items
(3)
(2)
Total non-GAAP adjustments to operating expense
Unallocated corporate overhead, excluding non-GAAP adjustments
Total
Revenue
Operating income
Operating income as a % of revenue
Add back:
Amortization related to acquisitions
Severance
Acquisition related adjustments
(2)
Site consolidation costs, impairments and other items (3)
Total non-GAAP adjustments to operating income
Operating income, excluding non-GAAP adjustments
Non-GAAP operating income as a % of revenue
Depreciation and amortization
Capital expenditures
Three Months Ended
December 25, 2021
December 26, 2020
Twelve Months Ended
December 25, 2021
December 26, 2020
$
(54,021) $
(45,747)
$
(230,320) $
(177,430)
224
1,343
375
4,020
73
30,354
411
39
39
13,996
(661)
$
1,606 $
4,395
$
30,466 $
13,746
$
(52,415) $
(41,352)
$
(199,854) $
(163,684)
905,050 $
790,990
172,807
128,927
19.1 %
16.3 %
$
3,540,160 $
2,923,933
589,862
16.7 %
432,729
14.8 %
29,398
28,097
128,148
118,618
1,358
1,051
4,718
7,586
(15,563)
5,724
15,867
19,623
1,100
877
3,468
6,457
$
16,293 $
35,749
$
152,201
$
152,284
$
189,100
20.9 %
$
164,676
$
20.8 %
742,063 $
21.0 %
585,013
20.0 %
S
$
67,241 $
98,775 $
60,876
87,854
$
265,540 $
234,924
$
228,772 $
166,560
(1) Charles River management believes that supplementary non-GAAP financial measures provide useful information to allow investors to gain a meaningful understanding of our core operating
results and future prospects, without the effect of often-one-time charges and other items which are outside our normal operations, consistent with the manner in which management measures and
forecasts the Company's performance. The supplementary non-GAAP financial measures included are not meant to be considered superior to, or a substitute for results of operations prepared in
accordance with U.S. GAAP. The Company intends to continue to assess the potential value of reporting non-GAAP results consistent with applicable rules, regulations and guidance.
(2) These adjustments are related to the evaluation and integration of acquisitions, which primarily include transaction, third-party integration, and certain compensation costs, and fair value
adjustments associated with contingent consideration.
(3) Other items include certain costs in our Microbial Solutions business related to environmental litigation incurred during the three and twelve months ended December 25, 2021, which impacted
Manufacturing Solutions; and third-party costs, net of insurance reimbursements, incurred during the twelve months ended December 26, 2020 associated with the remediation of the unauthorized
access into the Company's information systems which was detected in March 2019, which impacted Unallocated Corporate Overhead.
Charles River - JP Morgan Conference Presentation
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