74
Non-GAAP Adjustments and Deal-Related Amortization

2021 Income from operations before taxes includes:

  • Q4—$96 million ($60 million after-tax) of IHS Markit merger costs, $19 million ($14 million after-tax) employee severance charges, $7 million ($5 million after-tax) gain in disposition, $2 million ($2 million after-tax) acquisition related costs and $29 million ($22 million after-tax) in amortization of intangibles from acquisitions
  • Q3—$5 million ($4 million after-tax) technology-related impairment charge, $54 million ($51 million after-tax) of IHS Markit merger costs, $3 million ($2 million after-tax) gain on disposition and $32 million ($24 million after-tax) in amortization of intangibles from acquisitions
  • Q2—$50 million ($53 million after-tax) of IHS Markit merger costs, a lease impairment of $3 million ($2 million after-tax) and $32 million ($25 million after-tax) in amortization of intangibles from acquisitions
  • Q1—$49 million ($41 million after-tax) of IHS Markit merger costs and Kensho retention related expense of $2 million ($2 million after-tax), $2 million ($2 million after-tax) gain on disposition and $31 million ($24 million after-tax) in amortization of intangibles from acquisitions

2020 Income from operations before taxes includes:

  • Q4—$116 million ($89 million after-tax) of lease impairments, $55 million ($43 million after-tax) in employee severance charges, $24 million ($21 million after-tax) of IHS Markit merger costs, $11 million ($8 million after-tax) of lease-related costs, $7 million ($5 million after-tax) technology-related impairment charge, $4 million ($3 million after-tax) lease impairment charge, $2 million ($2 million after-tax) Kensho retention-related expense, and $29 million ($22 million after-tax) in amortization of intangibles from acquisitions
  • Q3—$279 million ($210 million after-tax) loss on the extinguishment of debt, $8 million ($6 million after-tax) gain on dispositions, $5 million ($4 million after-tax) technology-related impairment charge, $2 million ($2 million after-tax) Kensho retention-related expense, and $32 million ($25 million after-tax) in amortization of intangibles from acquisitions
  • Q2—$3 million ($2 million after-tax) in employee severance charges, $3 million ($2 million after-tax) pension related charge, $2 million ($2 million after-tax) of Kensho retention-related expense, $1 million ($1 million after-tax) gain on disposition, and $32 million ($25 million after-tax) in amortization of intangibles from acquisitions
  • Q1—$7 million ($5 million after-tax) pension-related charge, $5 million ($4 million after-tax) of Kensho retention-related expense, $2 million ($2 million after-tax) in employee severance charges, $7 million ($7 million after-tax) gain on disposition, and $29 million ($22 million after-tax) in amortization of intangibles from acquisitions

2019 Income from operations before taxes includes:

  • Q4—$57 million ($43 million-after tax) associated with early repayment of our Senior Notes, $6 million ($4 million after-tax) of lease impairments, $5 million ($4 million after-tax) in employee severance charges, $4 million ($3 million after-tax) of Kensho retention-related expense, $4 million ($3 million after-tax) of acquisition-related costs, and $30 million ($23 million after-tax) in amortization of intangibles from acquisitions
  • Q3—$49 million ($38 million after-tax) gain on dispositions, $6 million ($4 million after-tax) of Kensho retention-related expense, and $29 million ($22 million after-tax) in amortization of intangibles from acquisitions
  • Q2—$20 million ($16 million after-tax) in employee severance charges, $5 million ($4 million) of Kensho retention-related expense, $5 million ($4 million after-tax) of lease impairments, and $31 million ($24 million after-tax) in amortization of intangibles from acquisitions
  • Q1—$113 million ($85 million after-tax) pension-related charge, $7 million ($5 million after-tax) of Kensho retention-related expense, and $32 million ($24 million after-tax) in amortization of intangibles from acquisitions

2018 Income from operations before taxes includes:

  • Q4—$16 million ($12 million after-tax) in employee severance charges, $9 million ($7 million after-tax) of Kensho retention-related expense, $5 million ($4 million after-tax) pension-related charge, $1 million ($1 million after-tax) legal settlement expenses, and $31 million ($24 million after-tax) in amortization of intangibles from acquisitions
  • Q3—$11 million ($8 million after-tax) of Kensho retention-related expense, $11 million ($8 million after-tax) of lease impairments, $7 million ($5 million after-tax) in employee severance charges, $2 million ($2 million after-tax) of restructuring charges related to a business disposition and employee severance charges, and $33 million ($25 million after-tax) in amortization of intangibles from acquisitions
  • Q2—$73 million ($55 million after-tax) legal settlement expenses, $12 million ($9 million after-tax) of Kensho retention-related expense, and $33 million ($25 million after-tax) in amortization of intangibles from acquisitions
  • Q1—$24 million ($18 million after-tax) in amortization of intangibles from acquisitions

Note: Net income in Q3 includes an adjustment to the provisional tax charge recorded in the fourth quarter of 2017 of $8 million

2017 Income from operations before taxes includes:

  • Q4—$53 million ($33 million after-tax) legal settlement expenses, a $19 million ($16 million after-tax) charge to exit a leased facility, $18 million ($11 million after-tax) in employee severance charges, $8 million ($7 million after-tax) pension-related charge, and $25 million ($16 million after-tax) in amortization of intangibles from acquisitions
  • Q3—$19 million ($12 million after-tax) in employee severance charges and $24 million ($15 million after-tax) in amortization of intangibles from acquisitions 
  • Q2—A $6 million ($3 million after-tax) charge to exit a leased facility, $5 million ($4 million after-tax) in employee severance charges, $2 million ($1 million after-tax) asset write-off, and $25 million ($17 million after-tax) in amortization of intangibles from acquisitions
  • Q1—$2 million ($1 million after-tax) legal settlement expenses, $15 million ($7 million after-tax) of non-cash acquisition and disposition-related adjustments, and $24 million ($15 million after-tax) in amortization of intangibles from acquisitions

Note: Net income in Q4 includes $149 million of tax expense due to U.S. tax reform, primarily associated with the deemed repatriation of foreign earnings, which was partially offset by a $21 million tax benefit related to prior year divestitures