Capital Allocation and Growth Strategy
Reconciliation of GAAP and Non-GAAP Information
Year-ending: December 31, 2022
In Millions of Dollars Except Per
Share Amounts
Gross Profit
Operating Profit
Interest-
Expense, Net
Net Income
Income
Per Share-
Diluted
GAAP results
$ 4,498.8
$ 2,260.8
$137.6
$1,644.8
$7.96
Adjustments:
Derivative mark-to-market losses
Business realignment activities
Acquisition and integration-related activities
Other miscellaneous losses
78.8
78.2
4.4
4.0
48.5
13.6
I
T
I
64.7
0.38
3.3
0.02
37.0
0.24
10.3
0.07
(0.15)
Tax effect of all adjustments reflected above
Non-GAAP results
$ 4,581.6
$ 2,405.4
$137.6
$1,760.1
$ 8.52
As reported gross margin
Non-GAAP gross margin (1)
43.2%
44.0%
As reported operating profit margin
Non-GAAP operating profit margin (2)
21.7%
23.1%
1: Calculated as non-GAAP gross profit as a percentage of net sales for the period presented. | 2: Calculated as non-GAAP operating profit as a percentage of net sales for the period presented.View entire presentation