PAYPAL HOLDINGS, INC. Reconciliation of GAAP Net Income to Non-GAAP Net Income,
GAAP Diluted EPS to Non-GAAP Diluted EPS,
and GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate
(In Millions, Except Percentages
and Per Share Amount/
Unaudited)
GAAP income before income taxes
GAAP income tax expense GAAP net income
Non-GAAP adjustments to net income:
Three Months Ended
December | September | June 30, | March 31, | December | September | June 30, | March 31, | December | September | June 30, | March 31, | |||||||||
31, 2019 | 30, 2019 | 2019 | 2019 | 31, 2018 | 30, 2018 | 2018 | 2018 | 31, 2017 | 30, 2017 | 2017 | 2017 | |||||||||
$ | 854 | $ | 484 | $ 943 | $ | 717 | $ | 686 | $ | 533 | $ 609 | $ | 548 | $ | 864 | $ | 451 | $ 447 | $ | 438 |
347 | 22 | 120 | 50 | 102 | 97 | 83 | 37 | 244 | 71 | 36 | 54 | |||||||||
507 | 462 | 823 | 667 | 584 | 436 | 526 | 511 | 620 | 380 | 411 | 384 |
Year Ended December 31,
2019 | 2018 | 2017 |
$ 2,998 | $ 2,376 | $ 2,200 |
539 | 319 | 405 |
2,459 | 2,057 | 1,795 |
Non-GAAP operating income | 374 | 329 | 293 | 416 | 315 | 297 | 248 | 295 | (36) | 223 | 229 | 212 | 1,412 | 1,155 | 628 | ||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||
(Gains) losses on strategic | (38) | 228 | (218) | (180) | (56) | - | (31) | - | - | - | - | - | (208) | (87) | - | ||||||||||||||||
investments(1) | |||||||||||||||||||||||||||||||
Other certain significant | 230 | - | - | - | (6) | 14 | 32 | 3 | 201 | 23 | - | - | 230 | 43 | 224 | ||||||||||||||||
gains, losses, or charges | |||||||||||||||||||||||||||||||
Tax effect of non-GAAP | (85) | (119) | (50) | (117) | (54) | (52) | (99) | (117) | (115) | (66) | (86) | (62) | (371) | (322) | (329) | ||||||||||||||||
adjustments (1) | |||||||||||||||||||||||||||||||
Non-GAAP net income | $ | 988 | $ | 900 | $ | 848 | $ | 786 | $ | 783 | $ | 695 | $ | 676 | $ | 692 | $ | 670 | $ | 560 | $ | 554 | $ | 534 | $ | 3,522 | $ | 2,846 | $ | 2,318 | |
Shares used in diluted share | 1,187 | 1,188 | 1,187 | 1,188 | 1,196 | 1,199 | 1,202 | 1,217 | 1,228 | 1,223 | 1,215 | 1,216 | 1,188 | 1,203 | 1,221 | ||||||||||||||||
calculation | |||||||||||||||||||||||||||||||
Net income per diluted share: | |||||||||||||||||||||||||||||||
GAAP | $ | 0.43 | $ | 0.39 | $ | 0.69 | $ | 0.56 | $ | 0.49 | $ | 0.36 | $ | 0.44 | $ | 0.42 | $ | 0.50 | $ | 0.31 | $ | 0.34 | $ | 0.32 | $ | 2.07 | $ | 1.71 | $ | 1.47 | |
Non-GAAP | $ | 0.83 | $ | 0.76 | $ | 0.71 | $ | 0.66 | $ | 0.65 | $ | 0.58 | $ | 0.56 | $ | 0.57 | $ | 0.55 | $ | 0.46 | $ | 0.46 | $ | 0.44 | $ | 2.96 | $ | 2.37 | $ | 1.90 | |
GAAP effective tax rate | 41 % | 5% | 13% | 7% | 15% | 18 % | 14% | 7% | 28 % | 16% | 8% | 12% | 18 % | 13% | 18 % | ||||||||||||||||
Tax effect of non-GAAP | (24)% | 9% | 4% | 11% | 2% | (2)% | 4% | 11% | (9)% | 1% | 10% | 6% | (2)% | 4% | - % | ||||||||||||||||
adjustments to net income | |||||||||||||||||||||||||||||||
Non-GAAP effective tax rate | 17 % | 14% | 17% | 18% | 17% | 16 % | 18% | 18% | 19 % | 17% | 18% | 18% | 16 % | 17% | 18 % |
- Reflects the impact of reclassification as described in our Form8-K filed with the SEC on April 9, 2020.
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PayPal Holdings Inc. published this content on 09 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 April 2020 07:17:28 UTC
