RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Gross profit | $ | 270,961 | $ | 164,215 | $ | 489,841 | $ | 305,274 | ||||||||
| Gross margin | 58.8 | % | 56.0 | % | 58.4 | % | 55.7 | % | ||||||||
| Adjustments to reconcile gross profit to non-GAAP gross profit: | ||||||||||||||||
| Stock-based compensation expense | 1,198 | 885 | 2,505 | 1,700 | ||||||||||||
| Deferred compensation plan expense (income) | (48 | ) | 130 | (51 | ) | 291 | ||||||||||
| Non-GAAP gross profit | $ | 272,111 | $ | 165,230 | $ | 492,295 | $ | 307,265 | ||||||||
| Non-GAAP gross margin | 59.0 | % | 56.3 | % | 58.7 | % | 56.1 | % | ||||||||
