Charles River - JP Morgan Conference Presentation
CONTINUED FROM PREVIOUS SLIDE
CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
RECONCILIATION OF GAAP TO NON-GAAP
SELECTED BUSINESS SEGMENT INFORMATION (UNAUDITED)")
(in thousands, except percentages)
Unallocated Corporate Overhead
Add back:
Severance
Acquisition related adjustments
(2)
Total non-GAAP adjustments to operating expense
Unallocated corporate overhead, excluding non-GAAP adjustments
Total
Revenue
Operating income
Operating income as a % of revenue
Add back:
Amortization related to acquisitions
Severance
Acquisition related adjustments
(2)
Site consolidation costs, impairments and other items
Total non-GAAP adjustments to operating income
Operating income, excluding non-GAAP adjustments
Non-GAAP operating income as a % of revenue
Depreciation and amortization
Capital expenditures
Three Months Ended
September 24, 2022
September 25, 2021
Nine Months Ended
September 24, 2022
September 25, 2021
$
(58,537)
$
(48,420) $
(152,406) $
(176,299)
(193)
1.229
$
1,036 $
3,387
3,387
1,061
8,359
(151)
29,011
$
(57,501) $
(45,033) $
9,420
(142,986) $
$
28,860
(147,439)
$
989,157 $
150,976
895,937 $
155,802
2,876,217 $
2,635,110
487,165
417,055
15.3 %
17.4%
16.9%
15.8 %
35,621
34,215
111,416
98,750
(90)
1,335
3,130
3,360
12,515
(1,572)
739
31,430
(3)
2,386
2,035
6,682
2,368
$
$
50,432 $
201,408 $
20.4%
36,013 $
191,815 $
21.4%
121,967
$
135,908
609,132
21.2 %
$
552,963
21.0 %
$
$
74,605 $
72,393 $
68,686 $
55,536 $
226,325 $
235,709 $
198,299
129,997
(1) Charles River management believes that supplementary non-GAAP financial measures provide useful information to allow investors to gain a meaningful understanding of our core
operating results and future prospects, without the effect of often-one-time charges and other items which are outside our normal operations, consistent with the manner in which
management measures and forecasts the Company's performance. The supplementary non-GAAP financial measures included are not meant to be considered superior to, or a substitute for
results of operations prepared in accordance with U.S. GAAP. The Company intends to continue to assess the potential value of reporting non-GAAP results consistent with applicable
rules, regulations and guidance.
(2) These adjustments are related to the evaluation and integration of acquisitions, which primarily include transaction, third-party integration, and certain compensation costs, fair value
adjustments associated with contingent consideration, and an adjustment related to certain indirect tax liabilities.
(3) Other items include certain third-party legal costs related to (a) an environmental litigation related to the Microbial business and (b) responses to a U.S. government industry-wide supply
chain management inquiry applicable to our Safety Assessment business.
Charles River - JP Morgan Conference Presentation
30View entire presentation