Non-GAAP Earnings Per Share |
| Three Months Ended April 1, 2023 | |||||||||||||
|
| GAAP Measure |
| Stock Compensation
|
| Intangible
|
| Termination
|
| Equity-Method Investment
|
| Income Tax Adjustments |
| Non- GAAP Measure |
| |
Net income |
| $13,967 |
| $16,638 |
| $6,510 |
| $4,712 |
| $1,033 |
| $(5,223) |
| $37,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted shares outstanding |
| 33,753 |
|
|
|
|
|
|
|
|
|
|
| 33,753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
| $ 0.41 |
|
|
|
|
|
|
|
|
|
|
| $ 1.12 |
|
* Represents pre-tax amounts |
Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
|
| ||||||
Business Outlook |
| Three Months Ending July 1, 2023 | ||||
|
|
| GAAP Measure |
| Non-GAAP Adjustments** |
| Non-GAAP Measure |
Gross margin |
| 60 % |
| 0.5 % |
| 60.5 % |
|
|
|
|
|
|
|
|
Operating expenses |
| $131 |
| $(25) |
| $106 |
|
|
|
|
|
|
|
|
| Effective tax rate |
| 34 % |
| (9) % |
| 25 % |
|
|
|
|
|
|
|
|
| Diluted earnings per share - low |
| $0.35 |
| $0.63 |
| $0.98 |
|
|
|
|
|
|
|
|
| Diluted earnings per share - high |
| $0.45 |
| $0.63 |
| $1.08 |
