Capital Allocation and Growth Strategy
Reconciliation of GAAP and Non-GAAP Information
Year-ending: December 31, 2017
In Millions of Dollars Except Per
Share Amounts
Gross Profit
Operating Profit
Interest-
Expense, Net
Net Income
GAAP results
$3,455.4
$ 1,313.4
$ 98.3
Adjustments:
Income
Per Share-
Diluted
$783.0
$3.66
Derivative mark-to-market gains
Business realignment activities
Acquisition-related costs
Pension settlement charges relating to Company-
directed initiatives
Long-lived and intangible asset impairment charges
Impact of U.S. tax reform
Noncontrolling interest share of business realignment
and impairment charges
Tax effect of all adjustments reflected above
(35.3)
(35.3)
5.1
69.4
0.3
I
(30.5)
51.0
(0.16)
0.33
0.2
I
6.8
0.05
208.7
185.4
0.98
32.5
I
(26.8)
(0.13)
(0.04)
Non-GAAP results
$3,425.2
$1,556.5
$98.3
$1,001.5
$4.69
As reported gross margin
46.0%
Non-GAAP gross margin (1)
45.6%
As reported operating profit margin
17.5%
20.7%
Non-GAAP operating profit margin (2)
1: Calculated as non-GAAP gross profit as a percentage of net sales for the period presented. | 2: Calculated as non-GAAP operating profit as a percentage of net sales for the period presented.View entire presentation