1Q23 Earnings and Operations Update
Net Income / Adjusted Net Income Reconciliation
Reconciliation of Net Income (GAAP Measure) to Adjusted Net Income (Non-GAAP Measure) (1)
In millions (except per share data)
Net income (GAAP measure)
Noncash fair value gains on commodity derivatives
Estimated income taxes on above adjustments to net income
and other discrete tax items (2)
Adjusted Net Income (non-GAAP measure) (1)
Weighted-average shares outstanding
Basic
Diluted
1Q23
Amount
Per Diluted
Share
$89
$1.66
(21)
(0.39)
5
0.09
$73
$1.36
51.5
53.8
(1) A non-GAAP measure. See press release attached as exhibit 99.1 to the Form 8-K filed May 3, 2023 for additional information indicating why the Company believes this non-GAAP measure is useful for investors.
Represents the estimated income tax impacts on pre-tax adjustments to net income.
(2)
Denbury Inc.
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