- For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
- Financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.
- Net cash paid for income taxes related to on-going operations was $150 million; and
- Weighted average number of diluted shares for the three-month period ended July 3, 2022 was 264.7 million.
Guidance for the Third Quarter 2022: ($ millions) (1)
| Guidance Range | ||||||||||||||
| GAAP | Reconciliation | non-GAAP | ||||||||||||
| Low | Mid | High | Low | Mid | High | |||||||||
| Total Revenue | $ 3,350 | $ 3,425 | $ 3,500 | $ 3,350 | $ 3,425 | $ 3,500 | ||||||||
| Q-Q | 1% | 3% | 6% | 1% | 3% | 6% | ||||||||
| Y-Y | 17% | 20% | 22% | 17% | 20% | 22% | ||||||||
| Gross Profit | $ 1,886 | $ 1,943 | $ 2,004 | $(35) | $ 1,921 | $ 1,978 | $ 2,039 | |||||||
| Gross Margin | 56.3% | 56.7% | 57.3% | 57.3% | 57.8% | 58.3% | ||||||||
| Operating Income (loss) | $ 926 | $ 973 | $ 1,024 | $(262) | $ 1,188 | $ 1,235 | $ 1,286 | |||||||
| Operating Margin | 27.6% | 28.4% | 29.3% | 35.5% | 36.1% | 36.7% | ||||||||
| Financial Income (expense) | $(98) | $(98) | $(98) | $(3) | $(95) | $(95) | $(95) | |||||||
