Attached files
| file | filename |
|---|---|
| 8-K - 8-K - AGILENT TECHNOLOGIES, INC. | form8-kxreconciliationsofr.htm |
Exhibit 99.1
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||
THREE MONTHS ENDED JANUARY 31, 2014 | ||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Intangible Amortization | Transformational Initiatives | Acquisition & Integrations Costs | Pre-Separation Costs | Unallocated Corporate Costs | Other | Adjustment for taxes | Non-GAAP | ||||||||||||||||||||||||
Orders | Change Year Over Year | 2% | $ | 979 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 979 | 2% | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 5% | $ | 1,008 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,008 | 5% | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 50.6% | 498 | 1 | (31 | ) | (3 | ) | (1 | ) | — | — | (1 | ) | — | 463 | 54.1% | Gross Margin | ||||||||||||||||
Research and development | As a % of Revenue | 8.7% | 88 | — | — | — | (1 | ) | (1 | ) | — | — | — | 86 | 8.5% | As a % of Revenue | ||||||||||||||||||
Selling, general and administrative | As a % of Revenue | 29.6% | 298 | 1 | (18 | ) | — | (4 | ) | (1 | ) | (10 | ) | — | — | 266 | 26.4% | As a % of Revenue | ||||||||||||||||
Total costs and expenses | 884 | 2 | (49 | ) | (3 | ) | (6 | ) | (2 | ) | (10 | ) | (1 | ) | — | 815 | ||||||||||||||||||
Income from operations | Operating Margin | 12.3% | 124 | (2 | ) | 49 | 3 | 6 | 2 | 10 | 1 | — | 193 | 19.2% | Operating Margin | |||||||||||||||||||
Other income(expense), net | (27 | ) | — | — | — | — | — | — | — | — | (27 | ) | ||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 97 | (2 | ) | 49 | 3 | 6 | 2 | 10 | 1 | — | 166 | |||||||||||||||||||||||
Provision (benefit) for income taxes | Tax Rate | -25% | (24 | ) | — | — | — | — | — | — | — | 50 | 26 | 16% | Tax Rate | |||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 12.0% | $ | 121 | $ | (2 | ) | $ | 49 | $ | 3 | $ | 6 | $ | 2 | $ | 10 | $ | 1 | $ | (50 | ) | $ | 140 | 13.9% | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||
Basic | $ | 0.37 | $ | (0.01 | ) | $ | 0.14 | $ | 0.01 | $ | 0.02 | $ | 0.01 | $ | 0.03 | $ | — | $ | (0.15 | ) | $ | 0.42 | ||||||||||||
Diluted | $ | 0.36 | $ | (0.01 | ) | $ | 0.14 | $ | 0.01 | $ | 0.02 | $ | 0.01 | $ | 0.03 | $ | — | $ | (0.15 | ) | $ | 0.41 | ||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||
Basic | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | ||||||||||||||||||||||||
Diluted | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | ||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||
1
2
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||
THREE MONTHS ENDED APRIL 30, 2014 | |||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||
Orders | Change Year Over Year | 4 | % | $ | 1,031 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,031 | 4 | % | Change Year Over Year | |||||||||
Net Revenue | Change Year Over Year | 2 | % | $ | 988 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 988 | 2 | % | Change Year Over Year | |||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 49.1 | % | 503 | (32 | ) | (5 | ) | — | (1 | ) | 1 | — | — | 466 | 52.9 | % | Gross Margin | |||||||||||||||
Research and development | As a % of Revenue | 8.8 | % | 87 | — | (1 | ) | — | — | (1 | ) | — | — | 85 | 8.6 | % | As a % of Revenue | ||||||||||||||||
Selling, general and administrative | As a % of Revenue | 30.8 | % | 304 | (17 | ) | (2 | ) | (2 | ) | (1 | ) | (10 | ) | (2 | ) | — | 270 | 27.3 | % | As a % of Revenue | ||||||||||||
Total costs and expenses | 894 | (49 | ) | (8 | ) | (2 | ) | (2 | ) | (10 | ) | (2 | ) | — | 821 | ||||||||||||||||||
Income from operations | Operating Margin | 9.5 | % | 94 | 49 | 8 | 2 | 2 | 10 | 2 | — | 167 | 16.9 | % | Operating Margin | ||||||||||||||||||
Other income(expense), net | (25 | ) | — | — | — | — | — | — | — | (25 | ) | ||||||||||||||||||||||
Income from continuing operations before taxes | 69 | 49 | 8 | 2 | 2 | 10 | 2 | — | 142 | ||||||||||||||||||||||||
Provision (benefit) for income taxes | Tax Rate | 42 | % | 29 | — | — | — | — | — | — | (6 | ) | 23 | 16 | % | Tax Rate | |||||||||||||||||
Income from continuing operations | Net Margin | 4 | % | $ | 40 | $ | 49 | $ | 8 | $ | 2 | $ | 2 | $ | 10 | $ | 2 | $ | 6 | $ | 119 | 12.0 | % | Net Margin | |||||||||
Income from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||
Basic | $ | 0.12 | $ | 0.14 | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.03 | $ | 0.01 | $ | 0.02 | $ | 0.36 | |||||||||||||||
Diluted | $ | 0.12 | $ | 0.14 | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.03 | $ | 0.01 | $ | 0.01 | $ | 0.35 | |||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | ||||||||||||||||||||||||
Diluted | 337 | 337 | 337 | 337 | 337 | 337 | 337 | 337 | 337 | ||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||
2
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
THREE MONTHS ENDED JULY 31, 2014 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Net Loss on Extinguishment of Debt | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 10 | % | $ | 1,017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,017 | 10 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 6 | % | $ | 1,009 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,009 | 6 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 49.8 | % | 507 | (29 | ) | (5 | ) | (1 | ) | (1 | ) | — | — | — | — | 471 | 53.3 | % | Gross Margin | ||||||||||||||||
Research and development | As a % of Revenue | 8.5 | % | 86 | — | — | (1 | ) | 2 | — | — | — | — | 87 | 8.6 | % | As a % of Revenue | |||||||||||||||||||
Selling, general and administrative | As a % of Revenue | 28.2 | % | 285 | (17 | ) | (2 | ) | — | (5 | ) | — | (10 | ) | 10 | — | 261 | 25.9 | % | As a % of Revenue | ||||||||||||||||
Total costs and expenses | 878 | (46 | ) | (7 | ) | (2 | ) | (4 | ) | — | (10 | ) | 10 | — | 819 | |||||||||||||||||||||
Income from operations | Operating Margin | 13 | % | 131 | 46 | 7 | 2 | 4 | — | 10 | (10 | ) | — | 190 | 18.8 | % | Operating Margin | |||||||||||||||||||
Other income(expense), net | (46 | ) | — | — | — | — | 21 | 2 | (3 | ) | — | (26 | ) | |||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 85 | 46 | 7 | 2 | 4 | 21 | 12 | (13 | ) | — | 164 | |||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 26 | % | 22 | — | — | — | — | — | — | — | 5 | 27 | 16 | % | Tax Rate | ||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 6.2 | % | $ | 63 | $ | 46 | $ | 7 | $ | 2 | $ | 4 | $ | 21 | $ | 12 | $ | (13 | ) | $ | (5 | ) | $ | 137 | 13.6 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.19 | $ | 0.14 | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.06 | $ | 0.03 | $ | (0.04 | ) | $ | (0.01 | ) | $ | 0.41 | ||||||||||||||
Diluted | $ | 0.19 | $ | 0.14 | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.06 | $ | 0.03 | $ | (0.04 | ) | $ | (0.01 | ) | $ | 0.41 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | ||||||||||||||||||||||||||
Diluted | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
3
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||||||||||||||
THREE MONTHS ENDED OCTOBER 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Asset Impairments & Write-downs | Acceleration of Share-based Compensation Related to Workforce Reduction | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Net Loss on Extinguishment of Debt | Nuclear Magnetic Resonance Business Exit | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||||||||
Orders | Change Year Over Year | 5 | % | $ | 1,144 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,144 | 5 | % | Change Year Over Year | |||||||||||||
Net Revenue | Change Year Over Year | 3 | % | $ | 1,043 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,043 | 3 | % | Change Year Over Year | |||||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 45.9 | % | 564 | — | — | (29 | ) | (6 | ) | (1 | ) | 1 | — | (47 | ) | (1 | ) | 1 | — | 482 | 53.8 | % | Gross Margin | |||||||||||||||||||||
Research and development | As a % of Revenue | 9.3 | % | 97 | (4 | ) | — | — | (2 | ) | (1 | ) | 1 | — | (5 | ) | 2 | (1 | ) | — | 87 | 8.3 | % | As a % of Revenue | |||||||||||||||||||||
Selling, general and administrative | As a % of Revenue | 29.9 | % | 312 | — | (1 | ) | (16 | ) | (3 | ) | 1 | (8 | ) | — | (16 | ) | (11 | ) | 3 | — | 261 | 25.0 | % | As a % of Revenue | ||||||||||||||||||||
Total costs and expenses | 973 | (4 | ) | (1 | ) | (45 | ) | (11 | ) | (1 | ) | (6 | ) | — | (68 | ) | (10 | ) | 3 | — | 830 | ||||||||||||||||||||||||
Income from operations | Operating Margin | 6.7 | % | 70 | 4 | 1 | 45 | 11 | 1 | 6 | — | 68 | 10 | (3 | ) | — | 213 | 20.4 | % | Operating Margin | |||||||||||||||||||||||||
Other income(expense), net | (92 | ) | — | — | — | — | — | 1 | 68 | — | 2 | — | — | (21 | ) | ||||||||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | (22 | ) | 4 | 1 | 45 | 11 | 1 | 7 | 68 | 68 | 12 | (3 | ) | — | 192 | ||||||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | (18 | )% | 4 | — | — | — | — | — | — | — | — | — | — | 27 | 31 | 16 | % | Tax Rate | ||||||||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | (2.5 | )% | $ | (26 | ) | $ | 4 | $ | 1 | $ | 45 | $ | 11 | $ | 1 | $ | 7 | $ | 68 | $ | 68 | $ | 12 | $ | (3 | ) | $ | (27 | ) | $ | 161 | 15.4 | % | Net Margin | ||||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||||||||||||||
Basic | $ | (0.08 | ) | $ | 0.01 | $ | — | $ | 0.13 | $ | 0.03 | $ | — | $ | 0.02 | $ | 0.21 | $ | 0.21 | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | $ | 0.48 | ||||||||||||||||
Diluted | $ | (0.08 | ) | $ | 0.01 | $ | — | $ | 0.13 | $ | 0.03 | $ | — | $ | 0.02 | $ | 0.21 | $ | 0.21 | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | $ | 0.48 | ||||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||||||||||||||
Basic | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | ||||||||||||||||||||||||||||||||
Diluted | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | ||||||||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||||||||||||||
4
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
SIX MONTHS ENDED APRIL 30, 2014 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 3 | % | $ | 2,010 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,010 | 3 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 3 | % | $ | 1,996 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,996 | 3 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 49.8 | % | 1,001 | 1 | (63 | ) | (8 | ) | (1 | ) | (1 | ) | 1 | (1 | ) | — | 929 | 53.5 | % | Gross Margin | |||||||||||||||
Research and development | As a % of Revenue | 8.8 | % | 175 | — | — | (1 | ) | (1 | ) | (1 | ) | (1 | ) | — | — | 171 | 8.6 | % | As a % of Revenue | ||||||||||||||||
Selling, general and administrative | As a % of Revenue | 30.2 | % | 602 | 1 | (35 | ) | (2 | ) | (6 | ) | (2 | ) | (20 | ) | (2 | ) | — | 536 | 26.9 | % | As a % of Revenue | ||||||||||||||
Total costs and expenses | 1,778 | 2 | (98 | ) | (11 | ) | (8 | ) | (4 | ) | (20 | ) | (3 | ) | — | 1,636 | ||||||||||||||||||||
Income from operations | Operating Margin | 10.9 | % | 218 | (2 | ) | 98 | 11 | 8 | 4 | 20 | 3 | — | 360 | 18.0 | % | Operating Margin | |||||||||||||||||||
Other income(expense), net | (52 | ) | — | — | — | — | — | — | — | — | (52 | ) | ||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 166 | (2 | ) | 98 | 11 | 8 | 4 | 20 | 3 | — | 308 | |||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 3 | % | 5 | — | — | — | — | — | — | — | 44 | 49 | 16 | % | Tax Rate | ||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 8.1 | % | $ | 161 | $ | (2 | ) | $ | 98 | $ | 11 | $ | 8 | $ | 4 | $ | 20 | $ | 3 | $ | (44 | ) | $ | 259 | 13.0 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.48 | $ | (0.01 | ) | $ | 0.30 | $ | 0.03 | $ | 0.02 | $ | 0.01 | $ | 0.06 | $ | 0.01 | $ | (0.12 | ) | $ | 0.78 | ||||||||||||||
Diluted | $ | 0.48 | $ | (0.01 | ) | $ | 0.29 | $ | 0.03 | $ | 0.02 | $ | 0.01 | $ | 0.06 | $ | 0.01 | $ | (0.12 | ) | $ | 0.77 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | ||||||||||||||||||||||||||
Diluted | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
5
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||||||||
NINE MONTHS ENDED JULY 31, 2014 | |||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Net Loss on Extinguishment of Debt | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||||
Orders | Change Year Over Year | 5 | % | $ | 3,027 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,027 | 5 | % | Change Year Over Year | |||||||||||
Net Revenue | Change Year Over Year | 4 | % | $ | 3,005 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,005 | 4 | % | Change Year Over Year | |||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 49.8 | % | 1,508 | 1 | (92 | ) | (13 | ) | (2 | ) | (2 | ) | — | 1 | (1 | ) | — | 1,400 | 53.4 | % | Gross Margin | |||||||||||||||||
Research and development | As a % of Revenue | 8.7 | % | 261 | — | — | (1 | ) | (2 | ) | 1 | — | (1 | ) | — | — | 258 | 8.6 | % | As a % of Revenue | |||||||||||||||||||
Selling, general and administrative | As a % of Revenue | 29.5 | % | 887 | 1 | (52 | ) | (4 | ) | (6 | ) | (7 | ) | — | (30 | ) | 8 | — | 797 | 26.5 | % | As a % of Revenue | |||||||||||||||||
Total costs and expenses | 2,656 | 2 | (144 | ) | (18 | ) | (10 | ) | (8 | ) | — | (30 | ) | 7 | — | 2,455 | |||||||||||||||||||||||
Income from operations | Operating Margin | 11.6 | % | 349 | (2 | ) | 144 | 18 | 10 | 8 | — | 30 | (7 | ) | — | 550 | 18.3 | % | Operating Margin | ||||||||||||||||||||
Other income(expense), net | (98 | ) | — | — | — | — | — | 21 | 2 | (3 | ) | — | (78 | ) | |||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 251 | (2 | ) | 144 | 18 | 10 | 8 | 21 | 32 | (10 | ) | — | 472 | ||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 11 | % | 27 | — | — | — | — | — | — | — | — | 49 | 76 | 16 | % | Tax Rate | ||||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 7.5 | % | $ | 224 | $ | (2 | ) | $ | 144 | $ | 18 | $ | 10 | $ | 8 | $ | 21 | $ | 32 | $ | (10 | ) | $ | (49 | ) | $ | 396 | 13.2 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.67 | $ | (0.01 | ) | $ | 0.43 | $ | 0.05 | $ | 0.03 | $ | 0.02 | $ | 0.06 | $ | 0.10 | $ | (0.03 | ) | $ | (0.13 | ) | $ | 1.19 | ||||||||||||||
Diluted | $ | 0.66 | $ | (0.01 | ) | $ | 0.43 | $ | 0.05 | $ | 0.03 | $ | 0.02 | $ | 0.06 | $ | 0.09 | $ | (0.03 | ) | $ | (0.13 | ) | $ | 1.17 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||||||||
Basic | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | ||||||||||||||||||||||||||||
Diluted | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | ||||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||||||||
6
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||||||||||||||
YEAR ENDED OCTOBER 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Asset Impairments & Write-downs | Acceleration of Share-based Compensation Related to Workforce Reduction | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Pre-Separation Costs | Net Loss on Extinguishment of Debt | Nuclear Magnetic Resonance Business Exit | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||||||||||
Orders | Change Year Over Year | 5 | % | $ | 4,171 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,171 | 5 | % | Change Year Over Year | ||||||||||||||
Net Revenue | Change Year Over Year | 4 | % | $ | 4,048 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,048 | 4 | % | Change Year Over Year | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 48.8 | % | 2,072 | 1 | — | — | (121 | ) | (19 | ) | (3 | ) | (1 | ) | — | (47 | ) | — | — | — | 1,882 | 53.5 | % | Gross Margin | |||||||||||||||||||||||
Research and development | As a % of Revenue | 8.8 | % | 358 | — | (4 | ) | — | — | (3 | ) | (3 | ) | 2 | — | (5 | ) | 1 | (1 | ) | — | 345 | 8.5 | % | As a % of Revenue | |||||||||||||||||||||||
Selling, general and administrative | As a % of Revenue | 29.6 | % | 1,199 | 1 | — | (1 | ) | (68 | ) | (7 | ) | (5 | ) | (15 | ) | — | (16 | ) | (41 | ) | 11 | — | 1,058 | 26.1 | % | As a % of Revenue | |||||||||||||||||||||
Total costs and expenses | 3,629 | 2 | (4 | ) | (1 | ) | (189 | ) | (29 | ) | (11 | ) | (14 | ) | — | (68 | ) | (40 | ) | 10 | — | 3,285 | ||||||||||||||||||||||||||
Income from operations | Operating Margin | 10.4 | % | 419 | (2 | ) | 4 | 1 | 189 | 29 | 11 | 14 | — | 68 | 40 | (10 | ) | — | 763 | 18.8 | % | Operating Margin | ||||||||||||||||||||||||||
Other income(expense), net | (190 | ) | — | — | — | — | — | — | 1 | 89 | — | 4 | (3 | ) | — | (99 | ) | |||||||||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 229 | (2 | ) | 4 | 1 | 189 | 29 | 11 | 15 | 89 | 68 | 44 | (13 | ) | — | 664 | ||||||||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 14 | % | 31 | — | — | — | — | — | — | — | — | — | — | — | 76 | 107 | 16 | % | Tax Rate | ||||||||||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 4.9 | % | $ | 198 | $ | (2 | ) | $ | 4 | $ | 1 | $ | 189 | $ | 29 | $ | 11 | $ | 15 | $ | 89 | $ | 68 | $ | 44 | $ | (13 | ) | $ | (76 | ) | $ | 557 | 13.8 | % | Net Margin | |||||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.59 | $ | (0.01 | ) | $ | 0.01 | $ | — | $ | 0.57 | $ | 0.09 | $ | 0.03 | $ | 0.05 | $ | 0.27 | $ | 0.20 | $ | 0.13 | $ | (0.04 | ) | $ | (0.22 | ) | $ | 1.67 | |||||||||||||||||
Diluted | $ | 0.59 | $ | (0.01 | ) | $ | 0.01 | $ | — | $ | 0.56 | $ | 0.09 | $ | 0.03 | $ | 0.05 | $ | 0.26 | $ | 0.20 | $ | 0.13 | $ | (0.04 | ) | $ | (0.22 | ) | $ | 1.65 | |||||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||||||||||||||
Basic | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | ||||||||||||||||||||||||||||||||||
Diluted | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | 338 | ||||||||||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||||||||||||||
7
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||
THREE MONTHS ENDED JANUARY 31, 2013 | |||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Asset Impairments & Write-downs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||
Orders | Change Year Over Year | 11 | % | $ | 961 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 961 | 11 | % | Change Year Over Year | |||||||||
Net Revenue | Change Year Over Year | 12 | % | $ | 958 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 958 | 12 | % | Change Year Over Year | |||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 48.7 | % | 491 | — | (31 | ) | (1 | ) | (5 | ) | (2 | ) | (3 | ) | — | 449 | 53.1 | % | Gross Margin | |||||||||||||
Research and development | As a % of Revenue | 8.8 | % | 84 | — | — | — | (1 | ) | (1 | ) | (1 | ) | — | 81 | 8.5 | % | As a % of Revenue | |||||||||||||||
Selling, general and administrative | As a % of Revenue | 31.8 | % | 305 | (1 | ) | (18 | ) | (2 | ) | (3 | ) | (15 | ) | (1 | ) | — | 265 | 27.7 | % | As a % of Revenue | ||||||||||||
Total costs and expenses | 880 | (1 | ) | (49 | ) | (3 | ) | (9 | ) | (18 | ) | (5 | ) | — | 795 | ||||||||||||||||||
Income from operations | Operating Margin | 8.1 | % | 78 | 1 | 49 | 3 | 9 | 18 | 5 | — | 163 | 17.0 | % | Operating Margin | ||||||||||||||||||
Other income(expense), net | (22 | ) | — | — | — | — | — | (1 | ) | — | (23 | ) | |||||||||||||||||||||
Income from continuing operations before taxes | 56 | 1 | 49 | 3 | 9 | 18 | 4 | — | 140 | ||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 7 | % | 4 | — | — | — | — | — | — | 19 | 23 | 16 | % | Tax Rate | ||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 5.4 | % | $ | 52 | $ | 1 | $ | 49 | $ | 3 | $ | 9 | $ | 18 | $ | 4 | $ | (19 | ) | $ | 117 | 12.2 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||
Basic | $ | 0.15 | $ | — | $ | 0.14 | $ | 0.01 | $ | 0.03 | $ | 0.05 | $ | 0.01 | $ | (0.05 | ) | $ | 0.34 | ||||||||||||||
Diluted | $ | 0.15 | $ | — | $ | 0.14 | $ | 0.01 | $ | 0.03 | $ | 0.05 | $ | 0.01 | $ | (0.06 | ) | $ | 0.33 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | 347 | 347 | 347 | 347 | 347 | 347 | 347 | 347 | 347 | ||||||||||||||||||||||||
Diluted | 352 | 352 | 352 | 352 | 352 | 352 | 352 | 352 | 352 | ||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||
8
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||
THREE MONTHS ENDED APRIL 30, 2013 | |||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||
Orders | Change Year Over Year | 12 | % | $ | 987 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 987 | 12 | % | Change Year Over Year | |||||||||
Net Revenue | Change Year Over Year | 13 | % | $ | 972 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 972 | 13 | % | Change Year Over Year | |||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 47.7 | % | 508 | (17 | ) | (31 | ) | — | — | — | (3 | ) | — | 457 | 53.0 | % | Gross Margin | |||||||||||||||
Research and development | As a % of Revenue | 8.6 | % | 84 | (4 | ) | — | — | (1 | ) | (1 | ) | — | — | 78 | 8.0 | % | As a % of Revenue | |||||||||||||||
Selling, general and administrative | As a % of Revenue | 32.3 | % | 314 | (15 | ) | (18 | ) | (3 | ) | (2 | ) | (15 | ) | (2 | ) | — | 259 | 26.6 | % | As a % of Revenue | ||||||||||||
Total costs and expenses | 906 | (36 | ) | (49 | ) | (3 | ) | (3 | ) | (16 | ) | (5 | ) | — | 794 | ||||||||||||||||||
Income from operations | Operating Margin | 6.8 | % | 66 | 36 | 49 | 3 | 3 | 16 | 5 | — | 178 | 18.3 | % | Operating Margin | ||||||||||||||||||
Other income(expense), net | (17 | ) | — | — | — | — | (1 | ) | — | — | (18 | ) | |||||||||||||||||||||
Income from continuing operations before taxes | 49 | 36 | 49 | 3 | 3 | 15 | 5 | — | 160 | ||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 35 | % | 17 | — | — | — | — | — | — | 9 | 26 | 16 | % | Tax Rate | ||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 3.3 | % | $ | 32 | $ | 36 | $ | 49 | $ | 3 | $ | 3 | $ | 15 | $ | 5 | $ | (9 | ) | $ | 134 | 13.8 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||
Basic | $ | 0.09 | $ | 0.10 | $ | 0.14 | $ | 0.01 | $ | 0.01 | $ | 0.04 | $ | 0.01 | $ | (0.01 | ) | $ | 0.39 | ||||||||||||||
Diluted | $ | 0.09 | $ | 0.10 | $ | 0.14 | $ | 0.01 | $ | 0.01 | $ | 0.04 | $ | 0.01 | $ | (0.02 | ) | $ | 0.38 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | ||||||||||||||||||||||||
Diluted | 349 | 349 | 349 | 349 | 349 | 349 | 349 | 349 | 349 | ||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||
9
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
THREE MONTHS ENDED JULY 31, 2013 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Asset Impairments & Write-downs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 9 | % | $ | 926 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 926 | 9 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 8 | % | $ | 951 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 951 | 8 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 48.8 | % | 487 | 1 | — | (29 | ) | (7 | ) | 1 | (1 | ) | (1 | ) | — | 451 | 52.6 | % | Gross Margin | ||||||||||||||||
Research and development | As a % of Revenue | 8.6 | % | 82 | — | (1 | ) | — | (1 | ) | — | (2 | ) | — | — | 78 | 8.2 | % | As a % of Revenue | |||||||||||||||||
Selling, general and administrative | As a % of Revenue | 29.9 | % | 284 | (1 | ) | — | (17 | ) | — | (5 | ) | (11 | ) | (2 | ) | — | 248 | 26.1 | % | As a % of Revenue | |||||||||||||||
Total costs and expenses | 853 | — | (1 | ) | (46 | ) | (8 | ) | (4 | ) | (14 | ) | (3 | ) | — | 777 | ||||||||||||||||||||
Income from operations | Operating Margin | 10.3 | % | 98 | — | 1 | 46 | 8 | 4 | 14 | 3 | — | 174 | 18.3 | % | Operating Margin | ||||||||||||||||||||
Other income(expense), net | (25 | ) | — | — | — | — | — | — | (1 | ) | — | (26 | ) | |||||||||||||||||||||||
Income from continuing operations before taxes | 73 | — | 1 | 46 | 8 | 4 | 14 | 2 | — | 148 | ||||||||||||||||||||||||||
Provision (benefit) for income taxes | Tax Rate | 41 | % | 30 | — | — | — | — | — | — | — | (6 | ) | 24 | 16 | % | Tax Rate | |||||||||||||||||||
Income from continuing operations | Net Margin | 4.5 | % | $ | 43 | $ | — | $ | 1 | $ | 46 | $ | 8 | $ | 4 | $ | 14 | $ | 2 | $ | 6 | $ | 124 | 13.0 | % | Net Margin | ||||||||||
Income from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.13 | $ | — | $ | — | $ | 0.14 | $ | 0.02 | $ | 0.01 | $ | 0.04 | $ | 0.01 | $ | 0.02 | $ | 0.37 | ||||||||||||||||
Diluted | $ | 0.13 | $ | — | $ | — | $ | 0.13 | $ | 0.02 | $ | 0.01 | $ | 0.04 | $ | 0.01 | $ | 0.02 | $ | 0.36 | ||||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 339 | 339 | 339 | 339 | 339 | 339 | 339 | 339 | 339 | 339 | ||||||||||||||||||||||||||
Diluted | 343 | 343 | 343 | 343 | 343 | 343 | 343 | 343 | 343 | 343 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
10
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
THREE MONTHS ENDED OCTOBER 31, 2013 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Acceleration of Share-based Compensation Related to Workforce Reduction | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 9 | % | $ | 1,087 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,087 | 9 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 7 | % | $ | 1,013 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,013 | 7 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 50.5 | % | 501 | (1 | ) | (1 | ) | (29 | ) | (4 | ) | — | (2 | ) | — | — | 464 | 54.2 | % | Gross Margin | |||||||||||||||
Research and development | As a % of Revenue | 8.6 | % | 87 | (1 | ) | — | — | — | (1 | ) | (1 | ) | — | — | 84 | 8.3 | % | As a % of Revenue | |||||||||||||||||
Selling, general and administrative | As a % of Revenue | 27.7 | % | 281 | 4 | (1 | ) | (17 | ) | (1 | ) | (5 | ) | (13 | ) | — | — | 248 | 24.5 | % | As a % of Revenue | |||||||||||||||
Total costs and expenses | 869 | 2 | (2 | ) | (46 | ) | (5 | ) | (6 | ) | (16 | ) | — | — | 796 | |||||||||||||||||||||
Income from operations | Operating Margin | 14.2 | % | 144 | (2 | ) | 2 | 46 | 5 | 6 | 16 | — | — | 217 | 21.4 | % | Operating Margin | |||||||||||||||||||
Other income(expense), net | (29 | ) | — | — | — | — | — | (1 | ) | 3 | — | (27 | ) | |||||||||||||||||||||||
Income (loss) from continuing operations before taxes | 115 | (2 | ) | 2 | 46 | 5 | 6 | 15 | 3 | — | 190 | |||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 25 | % | 29 | — | — | — | — | — | — | — | 1 | 30 | 16 | % | Tax Rate | ||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 8.5 | % | $ | 86 | $ | (2 | ) | $ | 2 | $ | 46 | $ | 5 | $ | 6 | $ | 15 | $ | 3 | $ | (1 | ) | $ | 160 | 15.8 | % | Net Margin | ||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.26 | $ | (0.01 | ) | $ | 0.01 | $ | 0.14 | $ | 0.02 | $ | 0.02 | $ | 0.04 | $ | 0.01 | $ | (0.01 | ) | $ | 0.48 | ||||||||||||||
Diluted | $ | 0.26 | $ | (0.01 | ) | $ | 0.01 | $ | 0.14 | $ | 0.02 | $ | 0.02 | $ | 0.04 | $ | 0.01 | $ | (0.01 | ) | $ | 0.48 | ||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | ||||||||||||||||||||||||||
Diluted | 336 | 336 | 336 | 336 | 336 | 336 | 336 | 336 | 336 | 336 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
11
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
SIX MONTHS ENDED APRIL 30, 2013 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Asset Impairments & Write-downs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 11 | % | $ | 1,948 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,948 | 11 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 13 | % | $ | 1,930 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,930 | 13 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 48.2 | % | 999 | (17 | ) | — | (62 | ) | (1 | ) | (5 | ) | (2 | ) | (6 | ) | — | 906 | 53.1 | % | Gross Margin | ||||||||||||||
Research and development | As a % of Revenue | 8.7 | % | 168 | (4 | ) | — | — | — | (2 | ) | (2 | ) | (1 | ) | — | 159 | 8.2 | % | As a % of Revenue | ||||||||||||||||
Selling, general and administrative | As a % of Revenue | 32.1 | % | 619 | (15 | ) | (1 | ) | (36 | ) | (5 | ) | (5 | ) | (30 | ) | (3 | ) | — | 524 | 27.2 | % | As a % of Revenue | |||||||||||||
Total costs and expenses | 1,786 | (36 | ) | (1 | ) | (98 | ) | (6 | ) | (12 | ) | (34 | ) | (10 | ) | — | 1,589 | |||||||||||||||||||
Income from operations | Operating Margin | 7.5 | % | 144 | 36 | 1 | 98 | 6 | 12 | 34 | 10 | — | 341 | 17.7 | % | Operating Margin | ||||||||||||||||||||
Other income(expense), net | (39 | ) | — | — | — | — | — | (1 | ) | (1 | ) | — | (41 | ) | ||||||||||||||||||||||
Income from continuing operations before taxes | 105 | 36 | 1 | 98 | 6 | 12 | 33 | 9 | — | 300 | ||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 20 | % | 21 | — | — | — | — | — | — | — | 28 | 49 | 16 | % | Tax Rate | ||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 4.4 | % | $ | 84 | $ | 36 | $ | 1 | $ | 98 | $ | 6 | $ | 12 | $ | 33 | $ | 9 | $ | (28 | ) | $ | 251 | 13.0 | % | Net Margin | |||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.24 | $ | 0.10 | $ | — | $ | 0.28 | $ | 0.02 | $ | 0.03 | $ | 0.10 | $ | 0.03 | $ | (0.07 | ) | $ | 0.73 | |||||||||||||||
Diluted | $ | 0.24 | $ | 0.10 | $ | — | $ | 0.28 | $ | 0.02 | $ | 0.03 | $ | 0.09 | $ | 0.03 | $ | (0.07 | ) | $ | 0.72 | |||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 346 | 346 | 346 | 346 | 346 | 346 | 346 | 346 | 346 | 346 | ||||||||||||||||||||||||||
Diluted | 351 | 351 | 351 | 351 | 351 | 351 | 351 | 351 | 351 | 351 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
12
AGILENT TECHNOLOGIES, INC. | ||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | ||||||||||||||||||||||||||||||||||||
NINE MONTHS ENDED JULY 31, 2013 | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Asset Impairments & Write-downs | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||
Orders | Change Year Over Year | 10 | % | $ | 2,874 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,874 | 10 | % | Change Year Over Year | ||||||||||
Net Revenue | Change Year Over Year | 11 | % | $ | 2,881 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,881 | 11 | % | Change Year Over Year | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 48.4 | % | 1,486 | (16 | ) | — | (91 | ) | (8 | ) | (4 | ) | (3 | ) | (7 | ) | — | 1,357 | 52.9 | % | Gross Margin | ||||||||||||||
Research and development | As a % of Revenue | 8.7 | % | 250 | (4 | ) | (1 | ) | — | (1 | ) | (2 | ) | (4 | ) | (1 | ) | — | 237 | 8.2 | % | As a % of Revenue | ||||||||||||||
Selling, general and administrative | As a % of Revenue | 31.3 | % | 903 | (16 | ) | (1 | ) | (53 | ) | (5 | ) | (10 | ) | (41 | ) | (5 | ) | — | 772 | 26.8 | % | As a % of Revenue | |||||||||||||
Total costs and expenses | 2,639 | (36 | ) | (2 | ) | (144 | ) | (14 | ) | (16 | ) | (48 | ) | (13 | ) | — | 2,366 | |||||||||||||||||||
Income from operations | Operating Margin | 8.4 | % | 242 | 36 | 2 | 144 | 14 | 16 | 48 | 13 | — | 515 | 17.9 | % | Operating Margin | ||||||||||||||||||||
Other income(expense), net | (64 | ) | — | — | — | — | — | (1 | ) | (2 | ) | — | (67 | ) | ||||||||||||||||||||||
Income from continuing operations before taxes | 178 | 36 | 2 | 144 | 14 | 16 | 47 | 11 | — | 448 | ||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 29 | % | 51 | — | — | — | — | — | — | — | 22 | 73 | 16 | % | Tax Rate | ||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 4.4 | % | $ | 127 | $ | 36 | $ | 2 | $ | 144 | $ | 14 | $ | 16 | $ | 47 | $ | 11 | $ | (22 | ) | $ | 375 | 13.0 | % | Net Margin | |||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | ||||||||||||||||||||||||||||||||||||
Basic | $ | 0.37 | $ | 0.10 | $ | 0.01 | $ | 0.42 | $ | 0.04 | $ | 0.05 | $ | 0.14 | $ | 0.03 | $ | (0.07 | ) | $ | 1.09 | |||||||||||||||
Diluted | $ | 0.36 | $ | 0.10 | $ | 0.01 | $ | 0.41 | $ | 0.04 | $ | 0.05 | $ | 0.14 | $ | 0.03 | $ | (0.06 | ) | $ | 1.08 | |||||||||||||||
Weighted average shares used in computing net income (loss) per share: | ||||||||||||||||||||||||||||||||||||
Basic | 344 | 344 | 344 | 344 | 344 | 344 | 344 | 344 | 344 | 344 | ||||||||||||||||||||||||||
Diluted | 348 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | ||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | ||||||||||||||||||||||||||||||||||||
13
AGILENT TECHNOLOGIES, INC. | |||||||||||||||||||||||||||||||||||||||
RECONCILIATION FROM GAAP TO NON-GAAP | |||||||||||||||||||||||||||||||||||||||
YEAR ENDED OCTOBER 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||
PRELIMINARY | NON-GAAP ADJUSTMENTS | ||||||||||||||||||||||||||||||||||||||
(in millions, except per share amounts) | GAAP | Restructuring & Other Related Costs | Asset Impairments & Write-downs | Acceleration of Share-based Compensation Related to Workforce Reduction | Intangible Amortization | Transformational Initiatives | Acquisition & Integration Costs | Unallocated Corporate Costs | Other | Adjustment for Taxes | Non-GAAP | ||||||||||||||||||||||||||||
Orders | Change Year Over Year | 10 | % | $ | 3,961 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,961 | 10 | % | Change Year Over Year | |||||||||||
Net Revenue | Change Year Over Year | 10 | % | $ | 3,894 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,894 | 10 | % | Change Year Over Year | |||||||||||
Costs and expenses: | |||||||||||||||||||||||||||||||||||||||
Cost of products and services | Gross Margin | 49.0 | % | 1,987 | (17 | ) | — | (1 | ) | (120 | ) | (12 | ) | (4 | ) | (5 | ) | (7 | ) | — | 1,821 | 53.2 | % | Gross Margin | |||||||||||||||
Research and development | As a % of Revenue | 8.7 | % | 337 | (5 | ) | (1 | ) | — | — | (1 | ) | (3 | ) | (5 | ) | (1 | ) | — | 321 | 8.2 | % | As a % of Revenue | ||||||||||||||||
Selling, general and administrative | As a % of Revenue | 30.4 | % | 1,184 | (12 | ) | (1 | ) | (1 | ) | (70 | ) | (6 | ) | (15 | ) | (54 | ) | (5 | ) | — | 1,020 | 26.2 | % | As a % of Revenue | ||||||||||||||
Total costs and expenses | 3,508 | (34 | ) | (2 | ) | (2 | ) | (190 | ) | (19 | ) | (22 | ) | (64 | ) | (13 | ) | — | 3,162 | ||||||||||||||||||||
Income from operations | Operating Margin | 9.9 | % | 386 | 34 | 2 | 2 | 190 | 19 | 22 | 64 | 13 | — | 732 | 18.8 | % | Operating Margin | ||||||||||||||||||||||
Other income(expense), net | (93 | ) | — | — | — | — | — | — | (2 | ) | 1 | — | (94 | ) | |||||||||||||||||||||||||
Income from continuing operations before taxes | 293 | 34 | 2 | 2 | 190 | 19 | 22 | 62 | 14 | — | 638 | ||||||||||||||||||||||||||||
Provision for income taxes | Tax Rate | 27 | % | 80 | — | — | — | — | — | — | — | — | 23 | 103 | 16 | % | Tax Rate | ||||||||||||||||||||||
Income (loss) from continuing operations | Net Margin | 5.5 | % | $ | 213 | $ | 34 | $ | 2 | $ | 2 | $ | 190 | $ | 19 | $ | 22 | $ | 62 | $ | 14 | $ | (23 | ) | $ | 535 | 13.7 | % | Net Margin | ||||||||||
Income (loss) from continuing operations per share - Basic and Diluted: | |||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.62 | $ | 0.10 | $ | 0.01 | $ | 0.01 | $ | 0.56 | $ | 0.06 | $ | 0.06 | $ | 0.18 | $ | 0.04 | $ | (0.07 | ) | $ | 1.57 | ||||||||||||||||
Diluted | $ | 0.62 | $ | 0.10 | $ | 0.01 | $ | 0.01 | $ | 0.55 | $ | 0.06 | $ | 0.06 | $ | 0.18 | $ | 0.04 | $ | (0.08 | ) | $ | 1.55 | ||||||||||||||||
Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||||||||||||||||||
Basic | 341 | 341 | 341 | 341 | 341 | 341 | 341 | 341 | 341 | 341 | 341 | ||||||||||||||||||||||||||||
Diluted | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | 345 | ||||||||||||||||||||||||||||
The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information. | |||||||||||||||||||||||||||||||||||||||
14