Glatfelter's Strategic Transformation
34
Reconciliation of Non-GAAP measures
Adjusted EPS from continuing operations
In millions
Net Income (loss)
Adjust: Discontinued ops, net of tax
Net Income (loss) from continuing operations
Adjustments / Exclusions:
Q4 2020
Q4 2021
2020
$
9.8
$ (10.4)
$
21.3
2021
$ 6.9
(0.7)
(0.8)
(0.5)
(0.2)
9.1
(11.2)
20.8
6.7
Pension settlement expenses, net
(0.6)
6.2
Gains on Timberland Sales and Transaction Related Costs
(0.4)
(0.6)
(1.4)
(5.2)
Asset impairment charge
0.9
COVID-19 incremental costs
0.9
2.7
Corporate headquarters relocation
0.4
0.2
1.0
0.6
Cost optimization actions
1.6
0.2
6.0
0.8
Restructuring charge - Metallized operations
-
11.1
Costs related to strategic initiatives
0.7
19.7
1.6
31.0
Income Tax impacts and other adjustments
(2.2)
(6.6)
(11.5)
(6.3)
Total adjustments
0.5
12.9
16.6
20.9
Adjusted income from continuing operations
$
9.6
$
1.6
37.4
27.6
Adjusted EPS for continuing operations
Weighted average shares - QTD/YTD
$
0.22
$ 0.04
$
0.84
$
0.61
44,714
44,596
44,614
44,924
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