Second Quarter 2023 Earnings
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted
Information
(In millions)
1
10
Q2 2023
Q2 2022
GAAP Reported Net Income
Adjustments
$56.0
$27.7
Stock-based compensation expense - COS
4.7
4.8
Stock-based compensation expense - R&D
15.1
13.6
Stock-based compensation expense - SG&A
30.4
28.7
Amortization of intangible assets
15.6
15.6
Contingent consideration
0.9
Severance and employee termination benefits 1
(2.2)
Income tax effect of adjustments
(14.4)
(14.5)
Non-GAAP Net Income
$105.2
$76.8
Represents change in estimates to severance and employee termination benefit charges in SG&A related to the Company's organizational redesign announced in October 2022. The Company
recognized $23.0 million of expense related to severance and employee termination benefits in the second half of 2022.
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