Impact of Additional Week on Net Sales
STE
connectivity
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Nine Months Ended June 24, 2022
Acquisition-
Related
U.S. GAAP
(1)
Charges
Adjustments
Restructuring
and Other
Charges, Net (1)(2) Tax Items
(3)
Adjusted
(Non-GAAP)
(4)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
1,187
$
Industrial Solutions
430
22
12 $
12
$
$
1,211
24
47
501
Communications Solutions
479
2
16
497
Total
$
2,096
$
38
$
75
$
$
2,209
Operating margin
17.6 %
18.5 %
Other income, net
$
24
$
$
$
$
13
Income tax expense
$
(362)
$
(8)
$
(18)
$
(18)
EA
(406)
Effective tax rate
17.4 %
18.6 %
Income from continuing operations
S
1,719
$
30
$
57
$
(29
$
1,777
Diluted earnings per share from
continuing operations
$
5.26
$
0.09
$
0.17
$
(0.09)
$
5.43
22
22
(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)
(3)
Includes $59 million recorded in net restructuring and other charges and $16 million recorded in cost of sales.
Includes a $57 million income tax benefit related to the tax impacts of an intercompany transaction, $27 million of income tax expense related
to the write-down of certain deferred tax assets to the lower 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 indemnification
terms of the purchase agreement.
(4)
See description of non-GAAP financial measures.View entire presentation