Appendix: GAAP to Non-GAAP reconciliation
The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non -GAAP measures (unaudited; in millions, except per share amounts):
Twelve months ended December 31,
Twelve months ended December 31,
Consolidated
2022
2023
2024
2024
Consolidated
2022
2023
Operating income (GAAP)
$ 372.3 4.5% $ 837.6 8.7% 1,010.7 $
9.4%
$
2.63 0.17 0.12 0.07 0.51
$
9.08 0.63
$
10.35 0.99
Earnings per share-diluted (GAAP) Amortization of purchased intangibles
Amortization of purchased intangibles
11.6 0.1% 7.7 0.1% 4.6 0.1%
41.7 0.4%
64.9 0.6% 51.6 0.5%
Intangible asset impairments Foreign entity liquidation Restructuring-related costs
- -
- - -
0.78
Intangible asset impairments Foreign entity liquidation
- - -
- - - -
- - - -
4.4 0.0% 5.3 0.1%
Pension settlement
(Gain)/loss on sale of businesses, net Amortization of inventory step-up
Pension advisor settlement Restructuring-related costs
- - - - -
(0.07)
7.1
0.1%
4.2 0.0%
0.07 0.08 0.11 0.19
Acquisition costs
12.9 0.1%
-
(Gain)/loss on sale of businesses, net Amortization of inventory step-up
Adjusted operating income (non-GAAP)
$ 396.2 4.8% $ 909.0 9.4% 1,131.4 $
10.5%
0.06
Acquisition costs
-
Income tax effects of adjustments Anti-hybrid tax on prior period income Loss on sale of equity method investment
(0.18)
(0.23)
- -
0.27
-
-
0.12 9.98
Adjusted earnings per share-diluted (non-GAAP) $
3.59
$
$
11.74
2023
2024
Free Cash Flow
Net cash provided by operating activities Additions to property, plant, and equipment
$
599
$
550
(325)
(281)
$
274
$
269
Free cash flow
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