Arrow's ESG and Financial Overview
Full-year GAAP to non-GAAP reconciliation
($ in thousands, except per share data)
Year ended December 31, 2023
Intangible
Operating expense
Operating income
Income before income taxes
Provision for income taxes
Consolidated net income
Reported GAAP
measure
$ 2,677,855
1,471,164
1,164,354
Amortization
Expense
Restructuring &
Integration charges (1)
Non-recurring tax
items
Other (2)
$
(31,242)
(83,916)
31,242
83,916
31,242
83,916
254,991
7,824
19,969
909,363
23,418
63,947
(942)
942
(19,284)
(4,614)
(14,670)
Noncontrolling interests
5,858
539
Net income attributable to shareholders
903,505
22,879
$
63,947
942
$
(14,670)
Net income per diluted share (3)
$
15.84
0.40
$
1.12
0.02
$
(0.26)
$
Effective tax rate (4)
21.9%
Operating expense
Operating income
Income before income taxes
Provision for income taxes
Consolidated net income
Reported GAAP
$ 2,768,131
2,068,494
1,884,150
448,992
Noncontrolling interests
Year ended December 31, 2022
(1) Includes charges to increase the
environmental remediation reserves in the
amount of $23.3 million for the year ended
Non-GAAP measure
December 31, 2023 and $2.5 million for the
2,562,697 year ended December 31, 2022.
1,586,322
1,260,228
277,228
983,000
6,397
(2) Other includes (gain) loss on investments,
net.
(3) The sum of the components for non-GAAP
976,603 diluted EPS may not agree to totals, as
presented, due to rounding.
17.12
22.0%
(4) The items as shown in this table, represent
the reconciling items for the tax rate as
reported by GAAP measure and as a non-
GAAP measure.
Intangible
Amortization
measure
Expense
Restructuring &
Integration charges (1)
Non-recurring tax
items
Other (2)
$ (34,692)
(13,741)
Non-GAAP measure
$
2,719,698
34,692
13,741
2,116,927
34,692
13,741
8,848
2,931
1,435,158
25,844
10,810
8,274
525
25,319
$
10,810
$
$
2,149
21.80
0.39
0.17
$
0.03
2,857
708
461,479
2,149
1,473,961
8,799
1,465,162
$
22.38
1,935,440
A A
Net income attributable to shareholders
Net income per diluted share (3)
Effective tax rate (4)
$ 1,426,884
$
23.8%
MGW
23.8%
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