Maintaining Strategy to Deliver Volumetric Growth
Effective Tax Rate
Income before income
taxes and equity in
net income of
unconsolidated
($ in thousands)
investments
Income tax expense
Effective income tax
rate
Three months ended June 30, 2023
As reported
$
168,375 $
42,987
25.5 %
Non-recurring, other unusual and non-operating pension and OPEB items
220,574
6,999
As adjusted
$
388,949 $
49,986
12.9 %
Three months ended June 30, 2022
As reported
$
401,454 $
89,018
22.2%
Non-recurring, other unusual and non-operating pension and OPEB items
As adjusted
21,235
22,272
$
422,689 $
111,290
26.3 %
See above for a reconciliation of the adjusted effective income tax rate, the non-GAAP financial measure, to the effective income tax rate, the most directly comparable financial measure calculated and
reporting in accordance with GAAP.
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