3Q 2021 Investor Presentation
Reconciliation of Adjusted Financial Measures
to U.S. GAAP (cont.)
Moody's Corporation Diluted EPS Reconciliation
Diluted EPS - U.S. GAAP
Legacy Tax
Impact of Litigation Settlement
Captive insurance company settlement
FX gain on liquidation of a subsidiary
Restructuring
CCXI Gain
Acquisition-Related Expenses
2015
2016
2017
2018
2019
2020
2021F1
$4.63
$1.36
$5.15
$6.74
$7.42
$9.39
$11.65 to $11.85
(0.03)
$3.59
$0.06
($0.18)
$0.04
$0.19
$0.23
$0.20
Negligible
($0.31)
$0.10
$0.03
$0.02
Purchase Price Hedge Gain
($0.37)
Acquisition-Related Intangible Amortization Expenses
$0.11
$0.13
$0.23
$0.40
$0.42
$0.51
~$0.65
Loss pursuant to the divestiture of MAKS
$0.07
$0.05
Impact of U.S. tax reform
$1.28
($0.30)
Net Impact of U.S./European tax change on deferred taxes
($0.01)
Increase to non-U.S. UTPS
$0.33
Non-cash gain relating to minority investment in BitSight²
Tax charge pursuant to the divestiture of MAKS
Adjusted Diluted EPS
$4.71
$4.94
$6.07
$7.39
$0.07
$8.29
$10.15
~($0.15)
$12.15 to $12.35
1.
2.
See press release titled "Moody's Corporation Reports Results for Third Quarter 2021" from October 28, 2021 for Moody's complete full year 2021 guidance.
Represents a non-cash gain expected to be recognized in the fourth quarter of 2021 pursuant to the Company's minority investment in BitSight, which was completed in October 2021. Under the terms of the transaction, Moody's contributed
$250 million in cash and its minority investment in Visible Risk in exchange for a minority investment in BitSight.
Note: Table may not sum to total due to rounding.
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