2020 Financial Performance
Reconciliation of Non-GAAP Measures
($ in millions)
Adjustments
GAAP Operating Income
2016
2017
2018
2019
2020
$180.8
$169.8
$215.8
$189.6
$215.2
M&A Costs
7.2
14.9
All intangible amortization
19.4
23.6
20.7
36.5
58.8
Earn-out
27.8
Adjusted Operating Income
$200.2
$193.4
$236.5
$233.3
$316.7
Reconciliation from cash provided by operating activities to free cash flow:
Cash Provided by Operating Activities
$213.7
$250.1
$314.8
$334.4
$384.3
Capital Expenditures
(62.8)
(66.6)
(76.1)
(80.0)
(76.7)
Free Cash Flow
150.9
183.5
238.7
254.4
307.6
Reconciliation from consolidated revenue growth to organic revenue growth:
Consolidated Revenue Growth
1.2%
14.2%
11.9%
15.6%
17.9%
Adoption of Accounting Changes/ Acquisitions/Divestitures
0.7%
6.6%
0.1%
8.4%
9.5%
Effect of Foreign Currency Translations
(1.2%)
0.4%
(1.2%)
0.2%
Organic Revenue Growth
1.7%
7.6%
11.4%
8.4%
8.2%
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