FY2023 Separation Roadmap
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands)
35
December 29,
2023
Three Months Ended
December 30,
2022
Operating Profit
$
204,063 $
237,805
Restructuring, Transaction and Other
Charges (1)
Focus 2023 Transformation, mainly real
estate rescaling efforts
49
27,801
Transaction costs
13,949
5,270
Restructuring, integration, separation and
other charges
41,320
7,272
Other Adjustments (2)
Amortization of intangibles
51,119
49,773
Other
11,386
4,290
Adjusted Operating Profit
$
321,886 $
332,211
(1) Includes estimated operating profit impacts from restructuring charges relating to the Separation Transaction for the three months ended
December 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program and impacts
associated with various transaction costs incurred with our acquisition and restructuring related activity costs associated with Company
restructuring and integration programs for the three months ended December 30, 2022.
(2) Includes estimated operating profit impacts from amortization of intangible assets and estimated operating profit impacts on certain
subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment for the three
months ended December 29, 2023 and December 30, 2022. The three months ended December 29, 2023 also includes an approximate $10
million intangibles impairment charge.View entire presentation