| Table 4 | |||||||||||||||||||||
| Reconciliation of GAAP Measures to non-GAAP Measures (Continued) | |||||||||||||||||||||
| $ Millions | |||||||||||||||||||||
| (Unaudited) | Three Months Ended | Year Ended | |||||||||||||||||||
| Jun 30, | Mar 31, | Jun 30, | Jun 30, | Jun 30, | |||||||||||||||||
| 2022 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||
| Interest and other (income) expense, net on GAAP basis | $ | 65.3 | $ | 43.7 | $ | 3.9 | $ | 132.5 | $ | 49.5 | |||||||||||
| Foreign currency exchange losses | (19.8 | ) | (1.1 | ) | (1.2 | ) | (16.2 | ) | (5.5 | ) | |||||||||||
| Gain on investments | — | — | 10.9 | — | 17.9 | ||||||||||||||||
| Debt extinguishment expense (2) | — | — | — | — | (24.7 | ) | |||||||||||||||
| Gain on preferred equity forward sale agreement | — | — | — | — | 11.4 | ||||||||||||||||
| Restructuring, transaction expenses and other (1) | (38.3 | ) | (33.3 | ) | — | (79.0 | ) | — | |||||||||||||
| Interest and other (income) expense, net on non-GAAP basis | $ | 7.2 | $ | 9.3 | $ | 13.6 | $ | 37.3 | $ | 37.2 | |||||||||||
| Income taxes on GAAP basis | $ | 5.3 | $ | 14.0 | $ | 11.0 | $ | 47.0 | $ | 55.0 | |||||||||||
| Tax impact of non-GAAP measures | 22.6 | 19.8 | 6.8 | 63.9 | 37.6 | ||||||||||||||||
| Income taxes on non-GAAP basis | $ | 27.9 | $ | 33.8 | $ | 17.8 | $ | 110.9 | $ | 92.6 | |||||||||||
| Net earnings on GAAP basis | $ | 43.6 | $ | 49.0 | $ | 82.3 | $ | 234.8 | $ | 297.6 | |||||||||||
| Share-based compensation | 13.5 | 18.2 | 18.5 | 73.1 | 78.9 | ||||||||||||||||
| Amortization of acquired intangibles | 19.9 | 19.4 | 20.6 | 79.7 | 82.2 | ||||||||||||||||
| Start-up costs (3) | 6.4 | 14.6 | — | 32.3 | — | ||||||||||||||||
| Foreign currency exchange losses | 19.8 | 1.1 | 1.2 | 16.2 | 5.5 | ||||||||||||||||
| Gain on investments | — | — | (10.9 | ) | — | (17.9 | ) | ||||||||||||||
| Debt extinguishment expense (2) | — | — | — | — | 24.7 | ||||||||||||||||
| Restructuring, transaction expenses and other (1) | 53.0 | 46.6 | 12.2 | 132.3 | 26.9 | ||||||||||||||||
| Tax impact of non-GAAP measures | (22.6 | ) | (19.8 | ) | (6.8 | ) | (63.9 | ) | (37.6 | ) | |||||||||||
| Net earnings on non-GAAP basis | $ | 133.7 | $ | 129.0 | $ | 117.0 | $ | 504.6 | $ | 460.2 | |||||||||||
| Per share data: | |||||||||||||||||||||
| Net earnings on GAAP basis | |||||||||||||||||||||
| Basic Earnings Per Share | $ | 0.25 | $ | 0.30 | $ | 0.62 | $ | 1.57 | $ | 2.50 | |||||||||||
| Diluted Earnings Per Share | $ | 0.23 | $ | 0.28 | $ | 0.59 | $ | 1.45 | $ | 2.37 | |||||||||||
| Net earnings on non-GAAP basis | |||||||||||||||||||||
| Basic Earnings Per Share | $ | 1.09 | $ | 1.05 | $ | 0.95 | $ | 4.11 | $ | 4.06 | |||||||||||
| Diluted Earnings Per Share | $ | 0.98 | $ | 0.95 | $ | 0.88 | $ | 3.72 | $ | 3.73 | |||||||||||
II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results
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