2022 Corporate Responsibility Report
33
Non-GAAP Reconciliations
In millions except per share amounts
Reconciliations - GAAP Net Income to Adjusted Net Income:
1Q23
2Q23
3Q23
4Q23
1Q24
GAAP net income
295.8
198.0
180.0
208.6
210.5
Acquisition and other adjustments:
Amortization of acquired intangibles
(a)
22.7
22.9
24.0
22.8
23.0
Acquisition and integration charges and other nonrecurring items (b)
Gain on event cancellation insurance claims (c)
10.9
9.5
14.0
9.8
9.1
(3.1)
Gain from sale of divested operation
(d)
(139.3)
3.9
-
Loss on impairment of lease related assets
(e)
8.7
10.0
0.3
1.3
0.5
(Gain) loss on de-designated interest rate swaps
(f)
1.4
(6.5)
(2.5)
3.7
(4.5)
Tax impact of adjustments
34.3
(10.6)
(12.5)
(5.6)
(7.1)
Adjusted net income
231.5
227.3
203.3
240.7
231.6
Diluted shares
80.3
79.8
79.5
79.0
79.0
Adjusted EPS
2.88
2.85
2.56
3.04
2.93
Reconciliations - GAAP Net Income per diluted share to
Adjusted EPS:
1Q23
2Q23
3Q23
4Q23
1Q24
GAAP net income per diluted share
3.68
2.48
2.26
2.64
2.67
Acquisition and other adjustments:
Amortization of acquired intangibles (a)
0.28
0.29
0.30
0.29
0.29
Acquisition and integration charges and other nonrecurring items (b)
Gain on event cancellation insurance claims (c)
0.14
0.12
0.18
0.12
0.12
(0.04)
Gain from sale of divested operation
Loss on impairment of lease related assets (e)
(Gain) loss on de-designated interest rate swaps
Tax impact of adjustments
Adjusted EPS
(d)
(1.74)
0.05
0.11
0.13
0.02
0.01
(f)
0.02
(0.08)
(0.03)
0.05
(0.06)
0.43
(0.13) (0.16)
(0.07)
(0.09)
2.88
2.85
2.56
3.04
2.93
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(a) Consists of non-cash
amortization charges from
acquired intangibles.
(b) Consists of incremental and
directly-related charges related
to acquisitions and divestitures,
facility-related exit costs, and
other nonrecurring items, if
applicable. Includes the
amortization and write-off of
deferred financing fees, which
are recorded in Interest
expense, net in the (Condensed)
Consolidated Statements of
Operations.
(c) Consists of the gain on event
cancellation insurance claims for
events cancelled in 2020.
(d) Consists of the gain on our
February 2023 divestiture, as
finalized in 2Q23
(e) Includes impairment loss for
lease related assets.
(f) Represents the fair value
adjustment for interest rate
swaps after de-designation.
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