blk_parkerlogo20150x50.jpg         
For Release:ImmediatelyExhibit 99.1
Contact:Media -
Aidan Gormley - Director, Global Communications and Branding216-896-3258
aidan.gormley@parker.com
Financial Analysts -
Jeff Miller - Vice President, Investor Relations216-896-2708
jeffrey.miller@parker.com
Stock Symbol:PH - NYSE
Parker Reports Fiscal 2023 Second Quarter Results

- Record sales, record adjusted net income and record adjusted EPS
- Sales increased 22% to $4.67 billion; organic sales increased 10%
- Total segment operating margin was 15.3%, or 21.5% adjusted
- Net income was $395.2 million, or $618.9 million adjusted
- EBITDA margin was 19.1%, or 22.4% adjusted
- EPS were $3.04, or $4.76 adjusted
- Company increases full year organic growth and adjusted EPS guidance

CLEVELAND, February 2, 2023 -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the fiscal 2023 second quarter ended December 31, 2022. Fiscal 2023 second quarter sales were a record at $4.67 billion, an increase of 22%, compared with $3.82 billion in the second quarter of fiscal 2022. Net income was $395.2 million compared with $387.6 million in the prior year quarter. Adjusted net income was $618.9 million, an increase of 6% compared with $582.2 million in the second quarter of fiscal 2022. Earnings per share were $3.04 compared with $2.97 in the second quarter of fiscal 2022. Adjusted earnings per share increased 7% to a record of $4.76 compared with $4.46 in the prior year quarter. Fiscal 2023 year-to-date cash flow from operations was $1.08 billion, or 12.1% of sales, compared with $1.01 billion, or 13.3% of sales, in the prior year. A reconciliation of non-GAAP measures is included in the financial tables of this press release and includes various expenses associated with the completion of the acquisition of Meggitt plc and the related divestiture of the Aircraft Wheel and Brake Division during fiscal 2023.

“This was another quarter that highlights the consistency with which Parker is able to achieve record levels of performance,” said Chief Executive Officer, Jenny Parmentier. “Our results include the first full quarter of the Meggitt acquisition, which performed very well as our integration teams continue to make great progress. Overall organic sales growth was impressive, with increased organic sales in every



segment. Our strong sales and segment margin performance contributed to record adjusted earnings per share for the quarter. Our team continues to drive excellent performance.”

Segment Results
Diversified Industrial Segment: North American second quarter sales increased 18% to $2.14 billion and operating income was $419.9 million compared with $337.4 million in the same period a year ago. On an adjusted basis, North American operating income was $466.9 million, or 21.8% of sales, a 50 basis point increase compared with the prior year quarter. International second quarter sales were flat at $1.40 billion and operating income was $285.5 million compared with $291.6 million in the same period a year ago. On an adjusted basis, International operating income was $305.8 million, or 21.9% of sales.

Aerospace Systems Segment: Second quarter sales increased 84% to $1.14 billion and operating income was $8.8 million compared with $114.8 million in the same period a year ago. On an adjusted basis, operating income was $234.6 million, or 20.6% of sales.

Parker reported the following orders for the quarter ending December 31, 2022, compared with the same quarter a year ago:
· Orders increased 3% for total Parker
· Orders increased 2% in the Diversified Industrial North America businesses
· Orders decreased 4% in the Diversified Industrial International businesses
· Orders increased 22% in the Aerospace Systems Segment on a rolling 12-month average basis.

Outlook
Parker's outlook for the fiscal year ending June 30, 2023 has been updated. The company expects fiscal 2023 organic sales growth to be in the range of 6% to 8% and earnings per share in the range of $13.50 to $14.00, or $19.20 to $19.70 on an adjusted basis. A reconciliation of forecasted earnings per share to adjusted forecasted earnings per share is included in the financial tables of this press release.

Parmentier added, "We expect another year of record performance in fiscal 2023. Longer term, we feel very positive about our plans to deliver $300 million of synergies from the acquisition of Meggitt and remain committed to our fiscal year 2027 financial targets. We have a bright future ahead driven by our business system The Win Strategy™, a transformed portfolio and secular growth trends.”

NOTICE OF CONFERENCE CALL: Parker Hannifin's conference call and slide presentation to discuss its fiscal 2023 second quarter results are available to all interested parties via live webcast today at 11:00 a.m. ET, at www.phstock.com. A replay of the webcast will be available on the site



approximately one hour after the completion of the call and will remain available for one year. To register for e-mail notification of future events please visit www.phstock.com.

About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

Note on Reclassification
Effective July 1, 2022, the company began classifying certain expenses, previously classified as cost of sales, as selling, general and administrative expenses (“SG&A”) or within other (income) expense, net. During the integration of recently acquired businesses, the company has seen diversity in practice of the classifications of certain expenses, and the reclassification was made to better align the presentation of expenses on the Consolidated Statement of Income with management’s internal reporting. The expenses reclassified from cost of sales to SG&A relate to certain administrative activities conducted in production facilities and research and development. Foreign currency transaction expense was also reclassified from cost of sales to other (income) expense, net on the Consolidated Statement of Income. These reclassifications had no impact on net income, earnings per share, cash flows, segment reporting or the financial position of the Company and were retrospectively applied to all periods presented in the financial tables of this press release.

Note on Orders
Orders provide near-term perspective on the company's outlook, particularly when viewed in the context of prior and future quarterly order rates. However, orders are not in themselves an indication of future performance. All comparisons are at constant currency exchange rates, with the prior year restated to the current-year rates. All exclude acquisitions until they can be reflected in both the numerator and denominator, and divestitures. Aerospace comparisons are rolling 12-month average computations. The total Parker orders number is derived from a weighted average of the year-over-year quarterly % change in orders for Diversified Industrial North America and Diversified Industrial International, and the year-over-year 12-month rolling average of orders for the Aerospace Systems Segment.

Note on Net Income
Net income referenced in this press release is equal to net income attributable to common shareholders.




Note on Non-GAAP Financial Measures
This press release contains references to non-GAAP financial information including (a) adjusted net income; (b) adjusted earnings per share; (c) adjusted segment operating margins; (d) adjusted segment operating income; (e) EBITDA margin; (f) adjusted EBITDA margin and (g) organic sales growth. The adjusted net income, earnings per share, segment operating margin, adjusted segment operating income and organic sales measures are presented to allow investors and the company to meaningfully evaluate changes in net income, earnings per share and segment operating margins on a comparable basis from period to period. This press release also contains references to EBITDA, EBITDA margin and adjusted EBITDA margin. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Although EBITDA, EBITDA margin and adjusted EBITDA margin are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating the results of this quarter versus the prior period. Comparable descriptions of record adjusted results in this release refer only to the period from the first quarter of FY2011 to the periods presented in this release. This period coincides with recast historical financial results provided in association with our FY2014 change in segment reporting. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

Forward-Looking Statements
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and include all statements regarding future performance, earnings projections, events or developments. Neither Parker nor any of its respective associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from past performance or current expectations.

Among other factors which may affect future performance are: the impact of the global outbreak of COVID-19 and governmental and other actions taken in response; changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the integration of Meggitt PLC; the ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and changes; compliance costs associated with environmental laws and regulations; potential supply chain and labor disruptions, including as a result of labor shortages; threats associated with international conflicts and efforts to combat terrorism and cyber security risks; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; local and global political and competitive market conditions, including global reactions to U.S. trade policies, and resulting effects on sales and pricing; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates (including fluctuations associated with any potential credit rating decline) and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in consumer habits and preferences; government actions, including the impact of changes in the tax laws in the United States and foreign jurisdictions and any judicial or regulatory interpretation thereof; and large



scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. Readers should consider these forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022 and other periodic filings made with the SEC.

###



PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
CONSOLIDATED STATEMENT OF INCOME
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands, except per share amounts)20222021*20222021*
Net sales$4,674,811 $3,824,580 $8,907,586 $7,587,389 
Cost of sales3,236,812 2,567,595 6,032,268 5,071,977 
Selling, general and administrative expenses814,966 585,858 1,650,770 1,212,607 
Interest expense146,931 61,360 264,725 120,710 
Other (income) expense, net(40,641)119,443 (60,265)120,026 
Income before income taxes516,743 490,324 1,020,088 1,062,069 
Income taxes121,282 102,595 236,590 222,877 
Net income395,461 387,729 783,498 839,192 
Less: Noncontrolling interests224 129 407 435 
Net income attributable to common shareholders$395,237 $387,600 $783,091 $838,757 
*Prior period amounts have been reclassified to reflect the income statement reclassification, as described in the attached press release.
Earnings per share attributable to common shareholders:
Basic earnings per share$3.08 $3.02 $6.10 $6.52 
Diluted earnings per share$3.04 $2.97 $6.03 $6.42 
Average shares outstanding during period - Basic128,313,322128,493,725128,369,162128,610,223
Average shares outstanding during period - Diluted130,045,013130,581,665129,961,696130,585,212
CASH DIVIDENDS PER COMMON SHARE
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Amounts in dollars)2022202120222021
Cash dividends per common share$1.33 $1.03 $2.66 $2.06 
RECONCILIATION OF ORGANIC GROWTH
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
2022202120222021
Sales growth - as reported22.2 %12.1 %17.4 %14.2 %
Adjustments:
Acquisitions16.5 %— %10.2 %— %
Divestitures(0.5)%— %(0.3)%— %
Currency(4.1)%(1.1)%(4.7)%(0.2)%
Organic sales growth10.3 %13.2 %12.2 %14.4 %





PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS TO ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Net income attributable to common shareholders$395,237 $387,600 $783,091 $838,757 
Adjustments:
Acquired intangible asset amortization expense142,256 78,741 229,270 158,512 
Business realignment charges5,378 3,645 9,239 6,659 
Integration costs to achieve33,418 807 45,409 2,009 
Acquisition-related expenses1,983 19,142 162,241 71,341 
Loss on deal-contingent forward contracts 149,382 389,992 149,382 
Gain on Aircraft Wheel and Brake divestiture — (372,930)— 
Amortization of inventory step-up to fair value111,973 — 130,331 — 
Tax effect of adjustments1
(71,391)(57,139)(142,246)(87,780)
Adjusted net income attributable to common shareholders$618,854 $582,178 $1,234,397 $1,138,880 

RECONCILIATION OF EARNINGS PER DILUTED SHARE TO ADJUSTED EARNINGS PER DILUTED SHARE
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Amounts in dollars)2022202120222021
Earnings per diluted share$3.04 $2.97 $6.03 $6.42 
Adjustments:
Acquired intangible asset amortization expense1.09 0.60 1.76 1.21 
Business realignment charges0.04 0.03 0.07 0.05 
Integration costs to achieve0.26 0.01 0.35 0.02 
Acquisition-related expenses0.02 0.15 1.26 0.55 
Loss on deal-contingent forward contracts 1.14 3.00 1.14 
Gain on Aircraft Wheel and Brake divestiture — (2.87)— 
Amortization of inventory step-up to fair value0.86 — 1.00 — 
Tax effect of adjustments1
(0.55)(0.44)(1.09)(0.67)
Adjusted earnings per diluted share$4.76 $4.46 $9.51 $8.72 
1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.




PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
RECONCILIATION OF EBITDA TO ADJUSTED EBITDA
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Net sales$4,674,811 $3,824,580 $8,907,586 $7,587,389 
Net income$395,461 $387,729 $783,498 $839,192 
Income taxes121,282 102,595 236,590 222,877 
Depreciation 87,488 65,362 154,455 131,113 
Amortization142,256 78,741 229,270 158,512 
Interest expense146,931 61,360 264,725 120,710 
EBITDA893,418 695,787 1,668,538 1,472,404 
Adjustments:
Business realignment charges5,378 3,645 9,239 6,659 
Integration costs to achieve33,418 807 45,409 2,009 
Acquisition-related expenses1,983 19,142 162,241 71,341 
Loss on deal-contingent forward contracts 149,382 389,992 149,382 
Gain on Aircraft Wheel and Brake divestiture — (372,930)— 
Amortization of inventory step-up to fair value111,973 — 130,331 — 
Adjusted EBITDA$1,046,170 $868,763 $2,032,820 $1,701,795 
EBITDA margin19.1 %18.2 %18.7 %19.4 %
Adjusted EBITDA margin22.4 %22.7 %22.8 %22.4 %


BUSINESS SEGMENT INFORMATION
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Net sales
Diversified Industrial:
   North America$2,140,685 $1,807,024 $4,272,445 $3,600,739 
   International1,397,699 1,399,179 2,752,712 2,775,615 
Aerospace Systems1,136,427 618,377 1,882,429 1,211,035 
Total net sales$4,674,811 $3,824,580 $8,907,586 $7,587,389 
Segment operating income
Diversified Industrial:
   North America$419,921 $337,417 $872,907 $671,119 
   International285,520 291,555 579,460 582,731 
Aerospace Systems8,793 114,796 100,944 233,047 
Total segment operating income714,234 743,768 1,553,311 1,486,897 
Corporate general and administrative expenses48,901 42,587 100,561 91,659 
Income before interest expense and other expense665,333 701,181 1,452,750 1,395,238 
Interest expense146,931 61,360 264,725 120,710 
Other expense 1,659 149,497 167,937 212,459 
Income before income taxes$516,743 $490,324 $1,020,088 $1,062,069 








PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Diversified Industrial North America sales$2,140,685 $1,807,024 $4,272,445 $3,600,739 
Diversified Industrial North America operating income$419,921 $337,417 $872,907 $671,119 
Adjustments:
Acquired intangible asset amortization44,358 47,024 90,632 94,287 
Business realignment charges1,338 660 1,471 1,613 
Integration costs to achieve1,270 329 1,317 660 
Adjusted Diversified Industrial North America operating income$466,887 $385,430 $966,327 $767,679 
Diversified Industrial North America operating margin19.6 %18.7 %20.4 %18.6 %
Adjusted Diversified Industrial North America operating margin21.8 %21.3 %22.6 %21.3 %
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Diversified Industrial International sales$1,397,699 $1,399,179 $2,752,712 $2,775,615 
Diversified Industrial International operating income$285,520 $291,555 $579,460 $582,731 
Adjustments:
Acquired intangible asset amortization16,819 18,958 33,624 38,700 
Business realignment charges3,039 2,387 4,918 4,451 
Integration costs to achieve425 478 564 1,349 
Adjusted Diversified Industrial International operating income$305,803 $313,378 $618,566 $627,231 
Diversified Industrial International operating margin20.4 %20.8 %21.1 %21.0 %
Adjusted Diversified Industrial International operating margin21.9 %22.4 %22.5 %22.6 %
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Aerospace Systems sales$1,136,427 $618,377 $1,882,429 $1,211,035 
Aerospace Systems operating income$8,793 $114,796 $100,944 $233,047 
Adjustments:
Acquired intangible asset amortization81,079 12,759 105,014 25,525 
Business realignment charges1,001 598 2,850 595 
Integration costs to achieve31,723 — 43,528 — 
Amortization of inventory step-up to fair value111,973 — 130,331 — 
Adjusted Aerospace Systems operating income$234,569 $128,153 $382,667 $259,167 
Aerospace Systems operating margin0.8 %18.6 %5.4 %19.2 %
Adjusted Aerospace Systems operating margin20.6 %20.7 %20.3 %21.4 %



PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
(Unaudited)Three Months Ended December 31,Six Months Ended December 31,
(Dollars in thousands)2022202120222021
Total segment sales$4,674,811 $3,824,580 $8,907,586 $7,587,389 
Total segment operating income$714,234 $743,768 $1,553,311 $1,486,897 
Adjustments:
Acquired intangible asset amortization142,256 78,741 229,270 158,512 
Business realignment charges5,378 3,645 9,239 6,659 
Integration costs to achieve33,418 807 45,409 2,009 
Amortization of inventory step-up to fair value111,973 — 130,331 — 
Adjusted total segment operating income$1,007,259 $826,961 $1,967,560 $1,654,077 
Total segment operating margin15.3 %19.4 %17.4 %19.6 %
Adjusted total segment operating margin21.5 %21.6 %22.1 %21.8 %




PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
CONSOLIDATED BALANCE SHEET
(Unaudited)December 31,June 30,December 31,
(Dollars in thousands)202220222021
Assets
Current assets:
Cash and cash equivalents$756,055 $535,799 $449,481 
Marketable securities and other investments21,611 27,862 40,511 
Trade accounts receivable, net2,578,045 2,341,504 2,041,953 
Non-trade and notes receivable371,474 543,757 314,897 
Inventories3,095,722 2,214,553 2,307,306 
Prepaid expenses and other462,093 6,383,169 2,753,501 
Total current assets7,285,000 12,046,644 7,907,649 
Property, plant and equipment, net2,839,524 2,122,758 2,202,932 
Deferred income taxes133,348 110,585 146,567 
Investments and other assets1,206,194 788,057 794,814 
Intangible assets, net8,387,917 3,135,817 3,343,612 
Goodwill10,668,904 7,740,082 7,999,901 
Total assets$30,520,887 $25,943,943 $22,395,475 
Liabilities and equity
Current liabilities:
Notes payable and long-term debt payable within one year$1,994,333 $1,724,310 $2,201,653 
Accounts payable, trade1,966,757 1,731,925 1,597,025 
Accrued payrolls and other compensation453,037 470,132 335,417 
Accrued domestic and foreign taxes236,227 250,292 294,255 
Other accrued liabilities1,053,049 1,682,659 829,141 
Total current liabilities5,703,403 5,859,318 5,257,491 
Long-term debt12,025,860 9,755,825 6,250,525 
Pensions and other postretirement benefits807,124 639,939 959,741 
Deferred income taxes1,751,321 307,044 558,986 
Other liabilities898,703 521,897 600,452 
Shareholders' equity9,322,380 8,848,011 8,755,082 
Noncontrolling interests12,096 11,909 13,198 
Total liabilities and equity$30,520,887 $25,943,943 $22,395,475 



PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)Six Months Ended December 31,
(Dollars in thousands)20222021
Cash flows from operating activities:
Net income$783,498 $839,192 
Depreciation and amortization383,725 289,625 
Share incentive plan compensation89,709 79,385 
Gain on sale of businesses(377,251)(1,520)
Gain on disposal of property, plant and equipment(2,551)(7,880)
Gain on marketable securities(1,354)(4,948)
Gain on investments(2,929)(1,487)
Net change in receivables, inventories and trade payables112,216 (147,481)
Net change in other assets and liabilities(112,066)(16,498)
Other, net203,137 (22,919)
Net cash provided by operating activities1,076,134 1,005,469 
Cash flows from investing activities:
Acquisitions (net of cash of $89,704 in 2022)(7,146,110)— 
Capital expenditures(185,704)(105,606)
Proceeds from sale of property, plant and equipment11,632 22,392 
Proceeds from sale of businesses447,300 2,466 
Purchases of marketable securities and other investments(25,198)(10,150)
Maturities and sales of marketable securities and other investments30,594 13,742 
Payments of deal-contingent forward contracts(1,405,418)— 
Other251,174 2,789 
Net cash used in investing activities(8,021,730)(74,367)
Cash flows from financing activities:
Net payments for common stock activity(119,944)(317,512)
Net proceeds from debt1,536,211 1,900,844 
Financing fees paid(8,911)(52,108)
Dividends paid(342,360)(265,556)
Net cash provided by financing activities1,064,996 1,265,668 
Effect of exchange rate changes on cash(11,221)6,978 
Net (decrease) increase in cash, cash equivalents and restricted cash(5,891,821)2,203,748 
Cash, cash equivalents and restricted cash at beginning of year6,647,876 733,117 
Cash, cash equivalents and restricted cash at end of period$756,055 $2,936,865 




PARKER HANNIFIN CORPORATION - DECEMBER 31, 2022Exhibit 99.1
RECONCILIATION OF FORECASTED EARNINGS PER DILUTED SHARE TO ADJUSTED FORECASTED EARNINGS PER DILUTED SHARE
(Unaudited)
(Amounts in dollars)Fiscal Year 2023
Forecasted earnings per diluted share$13.50 to $14.00
Adjustments:
Business realignment charges0.23
Costs to achieve0.54
Acquisition-related intangible asset amortization expense4.00
Acquisition-related expenses2.55
Loss on deal-contingent forward contracts3.00
Gain on Aircraft Wheel & Brake divestiture(2.87)
Tax effect of adjustments1
(1.75)
Adjusted forecasted earnings per diluted share$19.20 to $19.70
1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.