See the Forest and the Trees
Non-GAAP Financial Information
$ in thousands, except per share information
Year Ended March 31,
TTM Ended June 30,
2022
2021
2020
2019
2018
2022
2021
GAAP: Earnings before tax
Share based compensation
Acquisition and integration expense
Acquisition related amortization expense [1]
Other (income) expense [2]
Non-GAAP: Earnings before taxes
$
146,884
7,114
$
106,906
7,167
$
95,959
$
86,230
$
83,891
$
7,954
7,244
6,464
145,339
7,152
$
114,386
6,995
271
1,676
1,813
2,150
242
10,072
9,116
9,217
7,423
5,978
9,559
9,584
432
(571)
(680)
(6,696)
348
2,708
(596)
164,502
122,889
114,126
96,014
98,831
164,758
130,611
GAAP: Provision for income taxes
41,284
32,509
26,877
23,038
28,769
40,918
33,831
Share based compensation
2,014
2,188
2,218
1,988
1,866
2,026
2,097
Acquisition and integration expense
78
490
522
621
69
Acquisition related amortization expense [1]
2,803
2,730
2,487
1,916
1,598
2,663
2,820
Other (income) expense [2]
120
(143)
(200)
(1,702)
101
771
(148)
Re-measurement of deferred taxes [3]
1,654
Adjustment to U.S. federal income tax rate to 21%
(7,635)
Tax benefit (expense) on restricted stock
317
(40)
87
672
1,444
Non-GAAP: Provision for income taxes
46,538
37,322
31,959
26,434
28,418
256
46,634
229
38,898
Non-GAAP: Net earnings
$
117,964
$
85,567
$
82,167
$
69,580
$
70,413
$
118,124
$
91,713
GAAP: Net earnings per common share - diluted [4]
$
3.93
$
2.77
$
2.57
$
2.33
$
1.97
$
3.90
$
3.00
Share based compensation
0.20
0.19
0.22
0.18
0.17
0.19
0.19
Acquisition and integration expense
0.01
0.04
0.04
0.05
Acquisition related amortization expense [1]
0.26
0.24
0.25
0.19
0.16
0.25
0.25
Other (income) expense [2]
Re-measurement of deferred taxes [3]
Adjustment to U.S. federal income tax rate to 21%
Tax benefit (expense) on restricted stock
Total non-GAAP adjustments - net of tax
0.01
(0.02)
(0.02)
(0.16)
0.01
0.07
(0.01)
(0.06)
0.27
(0.01)
(0.02)
(0.05)
(0.01)
(0.01)
$
0.46
$
0.42
$
0.49
$
0.23
$
0.55
$
0.50
$
0.42
Non-GAAP: Net earnings per common share - diluted [4]
$
4.39
$
3.19
S
3.06
$
2.56
$
2.52
$
4.40
$
3.42
[1] Amount consists of amortization of intangible assets from acquired businesses.
[2] Other income, interest income, and foreign currency transaction gains and losses.
2022 ePlus inc. Confidential and Proprietary.
[3] Tax expense for the re-measurement of U.S. deferred income tax assets and liabilities at 21% federal income tax rate for U.S. operations.
[4] Per share information has been reroactively adjusted to reflect the two-for-one stock split on December 13, 2021.
2022 ePlus inc. | 31
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