Moelis & Company Investor Presentation Deck
Reconciliation of GAAP to adjusted (non-GAAP) financials
Three Months Ended June 30, 2023
($ in thousands)
Revenues (1)
Expenses
Compensation and Benefits
Non Compensation Expenses (²)
Total Operating Expenses
Operating Income
Other income (expenses) (¹)
Compensation Ratio
Non-Compensation Ratio
Operating Income Margin
(1)(2)(3)
Source:
1.
Moelis 3
2.
3.
U.S. GAAP
$179,871
$145,794
$43,663
$189,457
($9,586)
($5,629)
81.1 %
24.3%
Adjustments
2,372
(420)
7,849
Adjuste d
(non-GAAP)
$182,243
Company filings
Reflects a reclassification of $2.4 million of other income to revenues related to net gains from the mark-to-market impact on shares received as partial payment for advisory services
provided on certain transactions
$145,794
Reflects adjustments of $10.4 million for expenses related to the Settlement as described in our Q2 2023 earnings press release
Tax Receivable Agreement liability related adjustments are made to other income (expenses) for GAAP purposes. The adjustment of $0.2 million is reclassified to the provision for
income taxes line
$43,243
$189,037
($6,794)
$2,220
80.0 %
(5.3)%
Our Adjusted results apply certain adjustments to our GAAP results, including the assumption that 100%
of the Firm's income was taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable
GAAP results, are useful to investors to compare our performance across periods and to better understand our operating results.
23.7%
(3.7)%
| 23View entire presentation