Attached files
| file | filename |
|---|---|
| EX-99.3 - UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS - TECH DATA CORP | d295756dex993.htm |
| EX-99.2 - CONDENSED COMBINED FINANCIAL STATEMENTS (UNAUDITED) - TECH DATA CORP | d295756dex992.htm |
| EX-99.1 - COMBINED FINANCIAL STATEMENTS - TECH DATA CORP | d295756dex991.htm |
| EX-23.1 - CONSENT OF KPMG LLP - TECH DATA CORP | d295756dex231.htm |
| 8-K - FORM 8-K - TECH DATA CORP | d295756d8k.htm |
Exhibit 99.4
Tech Data GAAP to Non-GAAP Reconciliation1, 2
| ($ in millions) | Twelve Months Ended January 31, | Nine Months Ended October 31, | LTM | |||||||||||||||||||||
| 2014 | 2015 | 2016 | 2015 | 2016 | 10/31/16 |
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| Net Sales |
$ | 26,821.9 | $ | 27,670.6 | $ | 26,379.8 | $ | 18,896.2 | $ | 18,807.4 | $ | 26,291.0 | ||||||||||||
| Reconciliation of Non-GAAP Operating Income |
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| GAAP Operating Income |
$ | 227.5 | $ | 267.6 | $ | 401.4 | $ | 256.2 | $ | 188.8 | $ | 334.0 | ||||||||||||
| Plus: Restatement and Remediation-Related Expenses |
53.8 | 22.0 | 0.8 | 0.8 | — | — | ||||||||||||||||||
| Plus: LCD Settlements, Net |
(35.5 | ) | (5.1 | ) | (98.4 | ) | (63.1 | ) | (4.1 | ) | (39.5 | ) | ||||||||||||
| Plus: Loss on Disposal of Subsidiaries |
— | 1.3 | 0.7 | 0.7 | — | — | ||||||||||||||||||
| Plus: Value Added Tax Assessment |
— | (6.2 | ) | (8.8 | ) | (9.6 | ) | 1.0 | 1.8 | |||||||||||||||
| Plus: Acquisition & Integration Costs |
— | — | — | — | 15.0 | 15.0 | ||||||||||||||||||
| Plus: Acquisition-Related Amortization of Intangibles |
29.1 | 28.3 | 23.3 | 17.2 | 16.1 | 22.3 | ||||||||||||||||||
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| Non-GAAP Operating Income |
$ | 274.9 | $ | 308.0 | $ | 319.1 | $ | 202.3 | $ | 216.8 | $ | 333.6 | ||||||||||||
| % of Revenue |
1.0 | % | 1.1 | % | 1.2 | % | 1.1 | % | 1.2 | % | 1.3 | % | ||||||||||||
| Reconciliation of Adjusted EBITDA |
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| Non-GAAP Operating Income |
$ | 274.9 | $ | 308.0 | $ | 319.1 | $ | 202.3 | $ | 216.8 | $ | 333.6 | ||||||||||||
| Plus: Depreciation & Amortization (non-acquisition related) |
43.8 | 40.5 | 33.9 | 25.4 | 25.1 | 33.7 | ||||||||||||||||||
| Plus: Stock-Based Compensation |
8.9 | 13.7 | 14.9 | 11.4 | 11.0 | 14.5 | ||||||||||||||||||
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| Adjusted EBITDA |
$ | 327.6 | $ | 362.1 | $ | 367.9 | $ | 239.0 | $ | 252.9 | $ | 381.8 | ||||||||||||
| % of Revenue |
1.2 | % | 1.3 | % | 1.4 | % | 1.3 | % | 1.3 | % | 1.5 | % | ||||||||||||
| Reconciliation of Free Cash Flow |
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| Cash Flow from Operations |
$ | 379.1 | $ | 119.4 | $ | 189.0 | $ | 226.1 | $ | 211.5 | $ | 174.4 | ||||||||||||
| Less: Expenditures for Property & Equipment |
15.6 | 18.6 | 20.9 | 13.9 | 18.8 | 25.8 | ||||||||||||||||||
| Less: Software & Software Development Costs |
13.3 | 9.5 | 13.1 | 9.2 | 12.1 | 15.9 | ||||||||||||||||||
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| Free Cash Flow |
$ | 350.3 | $ | 91.2 | $ | 155.0 | $ | 202.9 | $ | 180.6 | $ | 132.7 | ||||||||||||
| 1 | The sum of the amounts in the table may not agree to the totals due to rounding. |
| 2 | Tech Data’s management believes that providing this additional information is useful to investors to better assess and understand operating performance, especially when comparing results with prior periods or forecasting performance for future periods by excluding both cash and non-cash items of expense not directly related to ongoing income from operations. Management also uses these non-GAAP measures to establish operational goals and in measuring performance. However, any analysis of results on a non-GAAP basis should be used as a complement to, and in conjunction with, results presented in accordance with GAAP. |
Avnet’s Technology Solutions GAAP to Non-GAAP Reconciliation3, 4
| ($in millions) | Twelve Months Ended | |||||||||||
| 6/28/2014 | 6/27/2015 | 7/2/2016 | ||||||||||
| Net Sales |
$ | 10,170.6 | $ | 9,799.5 | $ | 9,415.5 | ||||||
| Reconciliation of Non-GAAP Operating Income |
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| GAAP Operating Income |
$ | 187.4 | $ | 162.2 | $ | 208.0 | ||||||
| Plus: Restructuring, Amortization, Integration & other Expenses |
56.9 | 84.9 | 53.4 | |||||||||
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| Non-GAAP Operating Income |
$ | 244.3 | $ | 247.1 | $ | 261.4 | ||||||
| % of Revenue |
2.4 | % | 2.5 | % | 2.8 | % | ||||||
| Reconciliation of Adjusted EBITDA |
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| Non-GAAP Operating Income |
$ | 244.3 | $ | 247.1 | $ | 261.4 | ||||||
| Plus: Depreciation |
28.5 | 28.6 | 27.6 | |||||||||
| Plus: Stock-Based Compensation |
19.6 | 26.5 | 24.3 | |||||||||
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| Adjusted EBITDA |
$ | 292.4 | $ | 302.2 | $ | 313.2 | ||||||
| % of Revenue |
2.9 | % | 3.1 | % | 3.3 | % | ||||||
| 3 | The sum of the amounts in the table may not agree to the totals due to rounding. |
| 4 | Management believes that providing this additional information is useful to investors to better assess and understand operating performance, especially when comparing results with prior periods or forecasting performance for future periods by excluding both cash and non-cash items of expense not directly related to ongoing income from operations. However, any analysis of results on a non-GAAP basis should be used as a complement to, and in conjunction with, results presented in accordance with GAAP. |
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