EX-99.2
Published on January 28, 2010
Exhibit 99.2
Reconciliations
of non-GAAP financial measures
Adjusted diluted earnings per share from continuing operations
(EPS) for fiscal year (FY) 2009
FY2009 | ||||
EPS |
$ | 4.92 | ||
Litigation charge (1) |
$ | 0.11 | ||
Tax adjustment (2) |
$ | (0.08 | ) | |
Adjusted EPS |
$ | 4.95 |
(1) | Represents the charge relating to the pending settlement with the direct purchaser plaintiffs (which includes BDs distributors) in the antitrust class actions. | |
(2) | Represents the tax benefit relating to various tax settlements in multiple jurisdictions. |
First quarter FY2010 foreign currency-neutral EPS growth
Q1 FY2010 | Total | |||||||||||||||||||||||||||||||||||||||
Q1 FY2009 | impact of | unfavorable | Foreign | Foreign | ||||||||||||||||||||||||||||||||||||
foreign | foreign | foreign | currency | currency | ||||||||||||||||||||||||||||||||||||
Reported | currency | Q1 FY2009 | currency | Q1 FY2010 | currency | neutral | neutral | |||||||||||||||||||||||||||||||||
Q1 FY2010 | Q1 FY2009 | growth ($) | holding gain | hedge gain | translation | hedge loss | impact | growth ($) | growth (%) | |||||||||||||||||||||||||||||||
EPS |
$ | 1.30 | $ | 1.25 | $ | 0.05 | $ | (0.09 | ) | $ | (0.08 | ) | $ | 0.12 | $ | (0.04 | ) | $ | (0.09 | ) | $ | 0.14 | 11.2 | % | ||||||||||||||||
FY 2010 EPS Outlook
Estimated growth | Estimated foreign | Impact of foreign | ||||||||||
(based on adjusted | currency neutral | currency | ||||||||||
FY2009 EPS of $4.95) | growth | translation | ||||||||||
EPS guidance |
2-4 | % | 8-10 | % | - 6 | % |
The FY2010
impact of - 6% represents the year-on-year change due to estimated foreign currency translation, including
hedging activities, as follows:
FY2009 Items: |
||||
Actual hedge gain in FY2009 |
$ | (0.26 | ) | |
Q1 FY2009 foreign currency holding gain |
$ | (0.09 | ) | |
FY2010 Activity: * |
||||
Estimated favorable effect of foreign currency translation |
$ | 0.23 | ||
Estimated hedge losses |
$ | (0.16 | ) | |
Total Year-on-Year Impact |
$ | (0.28 | ) | |
Estimated impact on EPS Growth |
$ | (0.28)/$4.95 ~ - 6 | % |
* | Estimated impact is based on the foreign exchange rates established for BDs most recent fiscal year 2010 projection. |