Unaudited Reconciliation of IFRS to Non-IFRS | |||||||||||
Three Months Ended | |||||||||||
(in millions, except for per share amounts) | June 30, 2024 | March 31, 2024 | June 30, 2023 | ||||||||
Net Revenue | $ | 1,632 | $ | 1,549 | $ | 1,845 | |||||
Gross profit | $ | 395 | $ | 393 | $ | 532 | |||||
Gross margin | 24.2 | % | 25.4 | % | 28.8 | % | |||||
Share-based compensation | 16 | 12 | 14 | ||||||||
Non-IFRS gross profit (1) | $ | 411 | $ | 405 | $ | 546 | |||||
Non-IFRS gross margin(1) | 25.2 | % | 26.1 | % | 29.6 | % | |||||
Selling, general and administrative (2) | $ | 114 | $ | 122 | $ | 132 | |||||
Share-based compensation | 28 | 21 | 24 | ||||||||
Non-IFRS selling, general and administrative (1) | $ | 86 | $ | 101 | $ | 108 | |||||
Research and development | $ | 121 | $ | 124 | $ | 106 | |||||
Share-based compensation | 8 | 7 | 6 | ||||||||
Non-IFRS research and development (1) | $ | 113 | $ | 117 | $ | 100 | |||||
Operating profit | $ | 155 | $ | 147 | $ | 275 | |||||
Operating margin | 9.5 | % | 9.5 | % | 14.9 | % | |||||
Share-based compensation | 52 | 40 | 44 | ||||||||
Restructuring charges | 5 | — | 19 | ||||||||
Non-IFRS operating profit ( 1) | $ | 212 | $ | 187 | $ | 338 | |||||
Non-IFRS operating margin (1) | 13.0 | % | 12.1 | % | 18.3 | % | |||||
Net income | $ | 155 | $ | 134 | $ | 237 | |||||
Net income margin | 9.5 | % | 8.7 | % | 12.8 | % | |||||
Share-based compensation | 52 | 40 | 44 | ||||||||
Restructuring charges | 5 | — | 19 | ||||||||
Income tax effect (3) | (1 | ) | — | (3 | ) | ||||||
Non-IFRS net income (1) | $ | 211 | $ | 174 | $ | 297 | |||||
Non-IFRS net income margin (1) | 12.9 | % | 11.2 | % | 16.1 | % | |||||
Diluted EPS | $ | 0.28 | $ | 0.24 | $ | 0.43 | |||||
Share-based compensation | 0.09 | 0.07 | 0.08 | ||||||||
Restructuring charges | 0.01 | — | 0.03 | ||||||||
Income tax effect (3) | — | — | (0.01 | ) | |||||||
Diluted shares outstanding | 557 | 558 | 556 | ||||||||
Non-IFRS diluted EPS (1) | $ | 0.38 | $ | 0.31 | $ | 0.53 |
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