Driving Growth and Transformation in Agriculture Technology
Reconciliation of Non-GAAP Financial Measures to
Reported Financial Measures
CH
The non-GAAP tables below disclose the impact of the loss from divestiture of the offshore wind energy structures business on fiscal 2022 results. Further, the non-
GAAP tables below disclose the impact of intangible asset amortization (Prospera) and stock-based compensation recognized for the Prospera employees on fiscal
2022 results. We believe the adjustments for Prospera allow for a better investor understanding of Agriculture segment performance related to traditional segment
products. Amounts may be impacted by rounding. We believe it is useful when considering company performance for the non-GAAP adjusted net earnings and
operating income to be taken into consideration by management and investors with the related reported GAAP measures.
Fifty-three
weeks ended
December 31,
Diluted
earnings per
share
2022
Net earnings attributable to Valmont Industries, Inc. - as reported
Loss from divestiture of offshore wind energy structures business
Prospera intangible asset amortization
S
250,863
33,273
S
11.62
1.54
6,580
0.30
Stock-based compensation - Prospera
Total Adjustments, pre-tax
Tax effect of adjustments
9,896
0.46
49,749
2.31
(2.473)
(0.11)
Net earnings attributable to Valmont Industries, Inc. - Adjusted'
Average shares outstanding (000's) - Diluted
S
298,139
S
13.82
21,580
1 Earnings per share includes rounding
2 The tax effect of adjustments is calculated based on the income tax rate in each applicable jurisdiction
CONSERVING RESOURCES. IMPROVING LIFE. Valmont
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