{ "docId": "019de070-3c1c-76aa-8b18-a07f36bc63b0", "docSlug": "ce1c4ab02d824e3f82867731ea3f10b0", "documentTitle": "Broadridge Financial Solutions | Results Presentation Deck | 30 slides", "authorId": "broadridge-financial-solutions", "authorName": "Broadridge", "documentKindSlug": "deck", "documentKindLabel": "Deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2020-08-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 24, "pageCount": 30, "prevPage": 23, "nextPage": 25, "slideType": "appendix_disclosure", "function": "appendix", "density": "overcrowded", "nDataPoints": 0, "notes": "Standard financial disclosure slide explaining adjustments made to GAAP figures.", "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de070-3c1c-76aa-8b18-a07f36bc63b0/24", "deckHref": "/decks/019de070-3c1c-76aa-8b18-a07f36bc63b0", "deckJsonHref": "/decks/019de070-3c1c-76aa-8b18-a07f36bc63b0.json", "deckAnchorHref": "/decks/019de070-3c1c-76aa-8b18-a07f36bc63b0#slide-24", "components": [ { "bbox": { "h": 0.04, "w": 0.88, "x": 0.06, "y": 0.11 }, "kind": "paragraph", "text": "Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Net Earnings and Adjusted Earnings Per Share, Adjusted EBITDA and EBITDAR", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "19220639-4ee0-4977-93bc-31427ccb5f33", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.88, "x": 0.06, "y": 0.17 }, "kind": "paragraph", "text": "Adjusted Operating income, Adjusted Operating income margin, Adjusted Net earnings and Adjusted earnings per share reflect Operating income, Operating income margin, Net earnings, and Diluted earnings per share, as adjusted to exclude the impact of certain costs, expenses, gains and losses and other specified items that management believes are not indicative of our ongoing operating performance. These adjusted measures exclude the impact of: (i) Amortization of Acquired Intangibles and Purchased Intellectual Property, (ii) Acquisition and Integration Costs, (iii) IBM Private Cloud Charges, (iv) the Gain on Sale of a Joint Venture Investment, and (v) Covid-19 Related Expenses. Amortization of Acquired Intangibles and Purchased Intellectual Property represents non-cash amortization expenses associated with the Company's acquisition activities. Acquisition and Integration Costs represent certain transaction and integration costs associated with the Company's acquisition activities. IBM Private Cloud Charges represent a charge on the hardware assets to be transferred to International Business Machines Corporation (\"IBM\") and other charges related to the information technology agreement for private cloud services the Company entered into with IBM. The Gain on Sale of a Joint Venture Investment represents a non-operating, cash gain on the sale of one of the Company's joint venture investments. Covid-19 Related Expenses represents certain non-recurring expenses associated with the Covid-19 pandemic. Adjusted EBITDA reflects Net earnings before interest, taxes, other non-operating (income)/expenses net, depreciation, amortization, IBM Private Cloud Charges, Acquisition and Integration Costs, and Covid-19 Related Expenses. EBITDAR reflects Adjusted EBITDA before facilities and equipment lease expenses, and software license agreement expenses. Our management uses Adjusted EBITDA and EBITDAR to better understand the Company's pre-tax cash flow, adjusted for the impact of leverage.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "39646d19-07c8-443b-94ce-b8455fa5611e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.88, "x": 0.06, "y": 0.81 }, "kind": "paragraph", "text": "In addition to the Non-GAAP financial measures discussed above, we provide Free cash flow information because we consider Free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated that could be used for dividends, share repurchases, strategic acquisitions, other investments, as well as debt servicing. Free cash flow is a Non-GAAP financial measure and is defined by the Company as Net cash flows provided by operating activities less Capital expenditures as well as Software purchases and capitalized internal use software. Reconciliations of such Non-GAAP measures to the most directly comparable financial measures presented in accordance with GAAP can be found in the tables that are part of this presentation.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "71f89648-609b-4697-ad27-3a5901fcbd6f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.88, "x": 0.06, "y": 0.53 }, "kind": "paragraph", "text": "We exclude IBM Private Cloud Charges, Gain on Sale of a Joint Venture Investment, and Covid-19 Related Expenses from our Adjusted Operating income and other earnings measures because excluding such information provides us with an understanding of the results from the primary operations of our business and these items do not reflect ordinary operations or earnings. We also exclude the impact of Amortization of Acquired Intangibles and Purchased Intellectual Property, as these non-cash amounts are significantly impacted by the timing and size of individual acquisitions and do not factor into the Company's capital allocation decisions, management compensation metrics or multi-year objectives. Furthermore, management believes that this adjustment enables better comparison of our results as Amortization of Acquired Intangibles and Purchased Intellectual Property will not recur in future periods once such intangible assets have been fully amortized. Although we exclude Amortization of Acquired Intangibles and Purchased Intellectual Property from our adjusted earnings measures, our management believes that it is important for investors to understand that these intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf73cbab-0af6-4104-be87-97a09425e093", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.06, "y": 0.77 }, "kind": "title", "text": "Free Cash Flow", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6eb27e78-3361-4481-82e6-bfcfa63c3f38", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.38, "x": 0.06, "y": 0.05 }, "kind": "title", "text": "Non-GAAP Measures", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "da764aeb-cd9e-4895-9380-39c4ebb3f4d4", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "from": 18, "beatId": "45cff6f7-fe27-4879-997f-1c60ae3f3864", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The deck concludes with a summary of the company's performance and outlook, encouraging the audience to take action", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [ { "to": 30, "from": 18, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "aac3a6d7-0aee-42f2-818d-7c4f003a7ab7", "evidence": "The deck provides guidance for fiscal year 2021 and highlights the company's growth prospects", "position": 1, "objective": "To present a compelling investment opportunity", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }