Driving Growth and Transformation in Agriculture Technology
Regulation G Reconciliation of Forecasted GAAP and Adjusted Earnings
(Dollars in thousands, except per share amounts)
The non-GAAP tables below disclose the impact on the range of estimated diluted earnings per share of the (1) amortization of the intangible asset
(Prospera) and (2) stock-based compensation for Prospera employees. We believe the adjustments for Prospera allow for a better investor understanding
of Agriculture segment performance related to traditional segment products. We believe it is useful when considering company performance for the non-
GAAP adjusted net earnings to be taken into consideration by management and investors with the related reported GAAP measures.
Reconciliation of Range of Net Earnings - 2023 Guidance
Estimated net earnings - GAAP
Prospera intangible asset (proprietary technology) amortization, pre-tax
Stock-based compensation - Prospera, pre-tax
Total pre-tax adjustments
Estimated tax benefit from above expenses"
Total Adjustments, after-tax
Estimated net earnings - Adjusted
1
Diluted Earnings Per Share Range - GAAP²
Diluted Earnings Per Share Range - Adjusted²
Low End
High End
Adjustment
$ 318,250 $ 330,050
6,600
9,800
16,400
(2,450)
$
13,950
$ 332,200
$
$
15.45
14.80 $
$
$ 344,000
15.35
16.00
CONSERVING RESOURCES. IMPROVING LIFE. Valmont
1 The tax effect of adjustments is calculated based on the estimated income tax rate in each applicable jurisdiction.
2 Assumes weighted average shares outstanding of 21.5M, and includes rounding
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