II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results

*Amounts may not recalculate due to rounding.

Table 7
Non-GAAP Earnings Per Share Calculation
$ Millions
(Unaudited)	Three Months Ended									Year Ended
	Jun 30,			Mar 31,			Jun 30,			Jun 30,			Jun 30,
		2022			2022			2021			2022			2021
Numerator
Net earnings on non-GAAP basis	$	133.7		$	129.0		$	117.0		$	504.6		$	460.2
Deduct Series A preferred stock dividends		(6.9	)		(6.9	)		(6.9	)		(27.6	)		(27.1	)
Deduct Series B redeemable preferred dividends		(10.4	)		(10.2	)		(10.0	)		(40.6	)		(10.1	)
Basic earnings available to common shareholders	$	116.4		$	111.9		$	100.2		$	436.3		$	423.0

Effect of dilutive securities
Add back interest on II-VI Convertible Notes	$	0.6		$	0.6		$	3.1		$	2.2		$	12.3
Add back Series A preferred stock dividends		6.9			6.9			6.9			27.6			27.1
Diluted earnings available to common shareholders	$	123.8		$	119.4		$	110.1		$	466.2		$	462.4

Denominator
Weighted average shares		106.5			106.3			105.0			106.2			104.2
Effect of dilutive securities:
Common stock equivalents		3.0			3.3			3.9			3.0			3.6
II-VI Convertible Notes		7.3			7.3			7.3			7.3			7.3
Series A Mandatory Convertible Preferred Stock		8.9			8.9			8.9			8.9			8.9
Diluted weighted average common shares		125.7			125.9			125.1			125.4			123.9

Basic earnings per common share on non-GAAP basis ₍₁₎	$	1.09		$	1.05		$	0.95		$	4.11		$	4.06

Diluted earnings per common share on non-GAAP basis	$	0.98		$	0.95		$	0.88		$	3.72		$	3.73

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