Investor Presentaiton
GAAP TO NON-GAAP RECONCILIATIONS
NON-GAAP NET INCOME AND EARNINGS PER SHARE RECONCILIATIONS
(dollars in thousands, except per share amounts)
52 Weeks Ended January 30, 2021
Selling,
general and
administrative Income from
expenses
operations
Interest
expense
GAAP Basis
% of Net Sales
$ 2,298,534
$ 741,477 $ 48,812 $
23.98 %
Convertible Senior Notes (1)
7.74 %
0.51 %
(21,581)
Other
income
Income before
income taxes
Net
income
Earnings per
(3)
diluted share
(19,070) $
711,735
$ 530,251
92,639 $
5.72
(0.20)%
7.43 %
5.53 %
21,581
15,970
(3,460)
Weighted
average diluted
shares
Deferred compensation plan
adjustments
(16,594)
16,594
Non-GAAP Basis
$ 2,281,940
758,071
% of Net Sales
23.81 %
$
7.91 %
27,231 $
0.28 %
16,594
(2,476) $
(0.03)%
733,316
546,221
89,179 $
6.12
7.65 %
5.70 %
(1)
Amortization of the non-cash debt discount on the Company's Convertible Senior Notes and diluted shares that are designed to be offset at settlement by
shares delivered from the convertible note hedge purchased by the Company. This amount includes $1.1 million of amortization recognized in the fiscal
quarter ended May 2, 2020.
(2)
Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.
(3)
The provision for income taxes for non-GAAP adjustments was calculated at 26%, which approximated the Company's blended tax rate.
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