Jabil Posts Fourth Quarter & Fiscal Year 2012 Results

The Company calculates: (1) its "after-tax GAAP operating income" by subtracting a certain tax effect (the calculation of which is explained below) from its GAAP operating income and (2) its "after-tax non-GAAP core operating income" by subtracting a certain tax effect (the calculation of which is explained below) from its non-GAAP core operating income. See elsewhere in this earnings release for a reconciliation of the Company's non-GAAP core operating income to its GAAP operating income.

The Company calculates "net invested capital asset base" as the sum of the averages (the calculation of which are explained below) of (1) its stockholders’ equity, (2) the non-current portion of its notes payable and long term debt and (3) the current portion of its notes payable and long term debt, less the average (the calculation of which is explained below) of its cash and cash equivalents.

The following table reconciles (1) "Return on Invested Capital," as calculated using "after-tax GAAP operating income" to (2) "Core Return on Invested Capital," as calculated using "after-tax non-GAAP core operating income":

		Three months ended				Twelve months ended
		August 31,				August 31,
		2012				2012
Numerator:
Operating income (GAAP)		$	144,268			$	621,931
Tax effect (1)			(32,552	)			(114,341	)
After-tax operating income			111,716				507,590
		x4				x1
Annualized after-tax operating income		$	446,864			$	507,590
Core Operating Income (Non-GAAP)		$	175,111			$	736,179
Tax effect (2)			(32,761	)			(115,905	)
After-tax core operating income			142,350				620,274
		x4				x1
Annualized after-tax core operating income		$	569,400			$	620,274
Denominator:
Average total Jabil Circuit, Inc. stockholders’ equity (3)		$	2,059,312			$	1,986,089
Average notes payable and long-term debt, less current installments (3)			1,399,240				1,385,460
Average current installments of notes payable and long-term debt (3)			157,225				46,096
Average cash and cash equivalents (3)			(979,693	)			(1,052,934	)
Net invested capital asset base		$	2,636,084			$	2,364,711
Return on Invested Capital (GAAP)			17.0	%			21.5	%
Adjustments noted above			4.6	%			4.7	%
Core Return on Invested Capital (Non-GAAP)			21.6	%			26.2	%

(1) This amount is calculated by adding the amount of income taxes attributable to its operating income (GAAP) and its interest expense.

« First ‹ Previous 1 2 3 4 5 Next › Last »