CAE Financial Overview and Strategic Outlook
FINANCIALS
RECONCILIATION OF NON-IFRS MEASURES
35
Calculation of adjusted effective tax rate
(Three months ended December 31)
(Amounts in millions, except effective tax rates)
Earnings before income tax
Restructuring, integration and acquisition costs
2023
2022
$69.2
$94.4
$23.5
$4.9
Impairment reversal of non-financial assets following their repurposing and optimization
$9.8
Adjusted earnings before income taxes
Income tax expense
$92.7
$109.1
$8.2
$16.5
Tax impact on restructuring, integration and acquisition costs
$5.3
$0.9
Tax impact on impairment reversal of non-financial assets following their repurposing and optimization
$2.7
Adjusted income tax expense
$13.5
$20.1
Effective tax rate
12%
17%
Adjusted effective tax rate
15%
18%
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