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Reconciliation of GAAP operating margin to adjusted operating margin for the first quarter*: |
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| 2019 | 2018 | |||||||||||
| Operating margin | Q1 | Q4 | Q1 | |||||||||
| **GAAP operating margin | 13.7 | % | 12.0 | % | 14.5 | % | ||||||
| Restructuring, severance, impairment and other related costs | 0.8 | % | 1.2 | % | 0.7 | % | ||||||
| Acquisition and related integration costs | 0.2 | % | 0.2 | % | 0.2 | % | ||||||
| Change in foreign jurisdiction tax regulation on equity awards attributable to a prior period | 0.2 | % | — | % | — | % | ||||||
| Asbestos-related charges | — | % | 0.3 | % | — | % | ||||||
| Gain from antitrust litigation settlement | — | % | (0.6 | )% | (1.7 | )% | ||||||
| Loss on sale of long-lived assets | 0.1 | % | — | % | — | % | ||||||
| Transition services, net | 0.3 | % | 0.9 | % | — | % | ||||||
| Total discrete Items | 1.6 | % | 2.0 | % | (0.8 | )% | ||||||
| Operating margin adjusted for discrete items | 15.3 | % | 14.0 | % | 13.6 | % | ||||||
| Acquisition intangible amortization | 1.8 | % | 2.0 | % | 1.8 | % | ||||||
| Adjusted operating margin | 17.1 | % | 16.0 | % | 15.4 | % | ||||||
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*Percentages in table may not add due to rounding. |
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Reconciliation of GAAP earnings per diluted share to adjusted earnings per diluted share guidance for the 2019 first quarter: |
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Guidance
|
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| GAAP earnings per diluted share | $0.97 - $1.12 |
| Discrete items | $0.10 |
| Acquisition intangible amortization | $0.18 |
| Adjusted earnings per diluted share | $1.25 - $1.40 |
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Reconciliation of GAAP earnings per diluted share to adjusted earnings per diluted share guidance for the 2019 second quarter: |
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Guidance
Q2 2019 |
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| GAAP earnings per diluted share | $1.16 - $1.31 |
| Discrete items | $0.13 |
| Acquisition intangible amortization | $0.18 |
| Adjusted earnings per diluted share | $1.47 - $1.62 |
