Investor Presentaiton
Reconciliation of GAAP to Adjusted Results
39
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands)
Operating Profit
Restructuring, Transaction and Other
Charges (1)
Focus 2023 Transformation, mainly real
estate rescaling efforts
Transaction costs
Restructuring and integration charges
Other Adjustments (2)
Amortization of intangibles
Other
Adjusted Operating Profit
$
September 29,
2023
Three Months Ended
September 30,
2022
2023
Twelve Months Ended
September 29, September 30,
2022
277,828 $
308,540
1,075,237 $
917,850
10,643
5,317
50,872
89,365
372
6,125
15,985
24,329
46,639
(24,544)
85,540
84,190
51,674
(4,162)
382,994 $
51,713
203,906
198,602
980
347,151
$
1,432,520 $
1,314,336
(1) Includes estimated operating profit impacts relating to the separation activities around the CMS spin-off and from restructuring charges
relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate
impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023
and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net
of previously recorded reserves, approximately $27 million in third party recoveries recorded as receivables reducing SG&A, as well as
operating profit impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity
associated with Company restructuring and integration programs.
(2) Includes estimated operating profit impacts from amortization of intangible assets for the three months and years ended September 29,
2023 and September 30, 2022 and estimated operating profit impacts on certain subsidiary level contingent equity-based agreements in
connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023.
Jacobs 2023View entire presentation