Insight Enterprises, Inc. · NASDAQ:NSIT
Insight Enterprises — Investor Day (October 2022)
169 slides from Insight Enterprises's investor day presentation, Oct 12, 2022
Slide 1: Ambition in Action Investor Day
Slide 2: Presenters
DEE BURGER President, Insight North America STAN LEQUIN President, Solutions MATT JACKSON Vice President, Consulting Services PHIL RICKSON Vice President, Services APAC JASON RADER Chief Information Security Officer GLYNIS BRYAN Chief Financial Officer JOYCE MULLEN President & CEO
Slide 3: Safe harbor statement
Safe harbor statement This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 related to Insight’s plans and expectations. Statements that are not historical facts, including those related to our expectations about future fi
Slide 4: Joyce Mullen
JOYCE MULLEN Insight
Slide 5: eS : Frete om deeds Webi, Space Telescope
eS : Frete om deeds Webi, Space Telescope
Slide 6: * Sma af : fm
* Sma 5 af : fm , Rye Ie ‘A See 2 Image trom James Webb Spacé Telescope OPaNOG 0 = ™ Le,
Slide 7: Solutions Integrator
SOLUTIONS © INTEGRATOR f Insight
Slide 8: Efficient access, deep expertise, simplified experience
EFFICIENT ACCESS DEEP EXPERTISE SIMPLIFIED EXPERIENCESOLUTIONS INTEGRATOR
Slide 9: Ahead of the Curve
AHEAD OF THE CURVE
Slide 10: The Leading Solutions Integrator
LEADING SOLUTIONS INTEGRATOR THE
Slide 11: The Leading Solutions Integrator
LEADING SOLUTIONS INTEGRATOR THE
Slide 12: Accelerated Profitable Growth
ACCELERATED PROFITABLE GROWTH
Slide 13: EBITDA, gross profit growth targets
+6.5% - 7% EBITDA +200 BPS GROWTH +GROSS PROFIT
Slide 14: CAGR
CAGR
Slide 15: Solutions Integrator
SOLUTIONS INTEGRATOR i Insight
Slide 16: Solutions Integrator vs Systems Integrator
OTHERS SOLUTIONS INTEGRATOR Systems Integrator
Slide 17: Solutions Integrator vs Reseller
OTHERS ResellerSOLUTIONS INTEGRATOR Systems Integrator
Slide 18: Solutions Integrator vs Distributor
OTHERS ResellerSOLUTIONS INTEGRATOR Systems Integrator Distributor
Slide 19: Ahead of the Curve
AHEAD OF THE CURVE
Slide 20: Ahead of the Curve
AHEAD OF THE CURVE
Slide 21: Ahead of the Curve
AHEAD OF THE CURVE
Slide 22: The Leading Solutions Integrator
THE LEADING SOLUTIONS INTEGRATOR
Slide 23: Captivate Clients
CAPTIVATE Clients THE LEADING SOLUTIONS INTEGRATOR
Slide 24: Sell Solutions
CAPTIVATE Clients SELL Solutions THE LEADING SOLUTIONS INTEGRATOR
Slide 25: Deliver Differentiation
CAPTIVATE Clients SELL Solutions DELIVER Differentiation THE LEADING SOLUTIONS INTEGRATOR
Slide 26: Capitalize on Culture
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 27: Captivate Clients
CAPTIVATE Clients
Slide 28: Captivate Clients
CAPTIVATE Clients
Slide 29: Captivate Clients
CAPTIVATE Clients
Slide 30: Captivate Clients
j CAPTIVATE CLIENTS * “Insight”
Slide 31: Captivate Clients: NPS, E-Commerce
CAPTIVATE CLIENTS NPS E-Commerce
Slide 32: Captivate Clients: NPS, E-Commerce, Automation
CAPTIVATE CLIENTS NPS E-Commerce Automation
Slide 33: Captivate Clients: Sustainability
CAPTIVATE CLIENTS NPS SustainabilityE-Commerce Automation
Slide 34: Captivate Clients
CAPTIVATE Clients
Slide 35: Cornerstone Building Brands
CORNERSTONE BUILDING BRANDS
Slide 36: NPS
NPS
Slide 37: NPS
NPS
Slide 38: Gross profit dollars
GROSS PROFIT DOLLARS
Slide 39: Captivate Clients
CAPTIVATE Clients
Slide 40: The Leading Solutions Integrator
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 41: Sell Solutions
SELL Solutions
Slide 42: Sales Transformation
SALESTRANSFORMATION
Slide 43: Streamlined coverage
Streamlined coverage SALESTRANSFORMATION
Slide 44: Solution-selling experts
Streamlined coverage Solution-selling experts SALESTRANSFORMATION
Slide 45: Compensation program
Streamlined coverage Solution-selling experts Compensation program SALESTRANSFORMATION
Slide 46: New pricing strategy
Streamlined coverage Solution-selling experts Compensation program New pricing strategy SALESTRANSFORMATION
Slide 47: Transformation office
Streamlined coverage Solution-selling experts Compensation program New pricing strategy Transformation office SALESTRANSFORMATION
Slide 48: Organic sales growth +20%
ORGANIC SALES GROWTH +20%
Slide 49: Transformation does not follow a straight line
TRANSFORMATION does not follow a straight line.
Slide 50: Sell Solutions
SELL Solutions
Slide 51: The Leading Solutions Integrator
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 52: Deliver Differentiation
DELIVER Differentiation
Slide 53: Deliver Differentiation
Innovative, scalable solutions Exceptional talent Unique portfolio strategy DELIVER DIFFERENTIATION
Slide 54: Innovative, Scalable Solutions
INNOVATIVE, SCALABLE SOLUTIONS
Slide 55: Innovative, Scalable Solutions: Patents Pending
INNOVATIVE, SCALABLE SOLUTIONS PATENTS PENDING70+
Slide 56: Innovative, Scalable Solutions
INNOVATIVE, SCALABLE SOLUTIONS
Slide 57: Innovative, Scalable Solutions: Patents
INNOVATIVE, SCALABLE SOLUTIONS PATENTS award winner in 202213x
Slide 58: Innovation
INNOVATI Insight
Slide 59: Perpetual
PERPETUAL Insight
Slide 60: Perpetual
PERPETUAL Insight
Slide 61: Record quarters
4 RECORD ales pee QUARTERS — —_—— Insight
Slide 62: Exceptional Talent
Innovative, scalable solutions EXCEPTIONAL TALENT Unique portfolio strategy DELIVER DIFFERENTIATION
Slide 63: Exceptional Talent: Technical Professionals
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT
Slide 64: Industry-Recognized Experts
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT INDUSTRY- RECOGNIZED EXPERTS
Slide 65: Talent Through Acquisition
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT INDUSTRY- RECOGNIZED EXPERTS TALENT THROUGH ACQUISITION
Slide 66: Distinguished Engineer Career Track
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT INDUSTRY- RECOGNIZED EXPERTS TALENT THROUGH ACQUISITION DISTINGUISHED ENGINEER CAREER TRACK
Slide 67: Recruiting Expertise & Rigor
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT INDUSTRY- RECOGNIZED EXPERTS TALENT THROUGH ACQUISITION DISTINGUISHED ENGINEER CAREER TRACK RECRUITING EXPERTISE & RIGOR
Slide 68: Development Programs
TECHNICAL PROFESSIONALS 5300+ EXCEPTIONAL TALENT INDUSTRY- RECOGNIZED EXPERTS TALENT THROUGH ACQUISITION DISTINGUISHED ENGINEER CAREER TRACK RECRUITING EXPERTISE & RIGOR DEVELOPMENT PROGRAMS
Slide 69: Unique Portfolio Strategy
Innovative, scalable solutions Exceptional talent UNIQUE PORTFOLIO STRATEGY DELIVER DIFFERENTIATION
Slide 70: Portfolio strategy
Telus 6) (5 ___ STRATEGY — Insight
Slide 71: Portfolio strategy
Telus 6) (5 ___ STRATEGY — Insight
Slide 72: Deliver Differentiation
DELIVER DIFFERENTIATION
Slide 73: Data analytics & AI Lens
Data analytics & AI LENS DELIVER DIFFERENTIATION
Slide 74: Portfolio Strategy
PORTFOLIO STRATEGY:
Slide 75: Internal Shaping and Strategic M&A
PORTFOLIO STRATEGY: Internal Shaping and Strategic M&A
Slide 76: Differentiation
— Differentiation Insight
Slide 77: The Leading Solutions Integrator
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 78: Capitalize on Culture
CAPITALIZE on Culture
Slide 79: Insight
- Insight
Slide 80: High Performance
HIGH PERFORMANCE
Slide 81: Aligned compensation with shareholder interests
ALIGNED CAPITALIZE ON CULTURE Compensation with shareholder interests
Slide 82: Aggressive internal planning & decision-making
ALIGNED Aggressive internal CAPITALIZE ON CULTURE Compensation with shareholder interests PLANNING & DECISION-MAKING
Slide 83: Aggressive internal planning & decision-making
ALIGNED Aggressive internal CAPITALIZE ON CULTURE Compensation with shareholder interests PLANNING & DECISION-MAKING
Slide 84: Attrition rates among the best
CAPITALIZE ON CULTURE Attrition rates among the best
Slide 85: Employer of choice recognitions
CAPITALIZE ON CULTURE Attrition rates among the best Employer of choice recognitions
Slide 86: Commitment to diversity & inclusion
CAPITALIZE ON CULTURE Attrition rates among the best Employer of choice recognitions Commitment to diversity & inclusion
Slide 87: High teammate engagement
CAPITALIZE ON CULTURE Attrition rates among the best Employer of choice recognitions Commitment to diversity & inclusion High teammate engagement
Slide 88: Capitalize on Culture
CAPITALIZE on Culture
Slide 89: Growth & Operations
GROWTH & Operations Insight
Slide 90: Redefining the Cost Curve
REDEFINING the Cost Curve Insight
Slide 91: M&A is an Accelerator
M&A is an ACCELERATOR
Slide 92: M&A is an Accelerator
M&A is an ACCELERATOR
Slide 93: M&A is an Accelerator
M&A is an ACCELERATOR
Slide 94: M&A is an Accelerator
M&A is an ACCELERATOR
Slide 95: The Leading Solutions Integrator
THE LEADING SOLUTIONS INTEGRATOR
Slide 96: The Leading Solutions Integrator
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 97: EEE Depes Wobk, Space Totescone
EEE Depes Wobk, Space Totescone
Slide 98: Dee Burger
DEE BURGER Insight
Slide 99: Executing Our Strategy
Executing Our Strategy Dee Burger
Slide 100: Insight operates across a full spectrum of customers
Insight operates across a full spectrum of customers Enterprise Corporate Commercial
Slide 101: We will leverage our unique strengths
We will leverage our unique strengths Differentiating strengths Foundational strengths World-class, adaptable culture Extensive client roster with strong relationships and track record Uniquely high levels of technical expertise Modern and innovative portfolio with focus on cloud, data and AI and cy
Slide 102: What is a Solutions Integrator?
What is a Solutions Integrator? Clients System Integrator Capabilities Technology Reseller Capabilities • Modern applications • Cloud services • Infrastructure • Data and AI • Cybersecurity • Managed services • Networking • Integration labs • Volume of client relationships • Large, effective sales t
Slide 103: Carlson Wagonlit Travel
Carlson Wagonlit Travel Insight.
Slide 104: Carlson Wagonlit Travel
Carlson Wagonlit Travel Insight.
Slide 105: • Massive shift to the cloud reduces core data center infrastructure as spend shifts
• Massive shift to the cloud reduces core data center infrastructure as spend shifts to networking and devices • Cloud shift opens up increasing need for services for migration, application transformation/development, cybersecurity and all types of data needs • Extensive roster of highly satisfied c
Slide 106: Key operating actions
Key operating actions Optimize Our Portfolio Accelerate Profitable Growth Transform Solution Selling Scale Services
Slide 107: Optimize our portfolio
Optimize our portfolio Actions Outcomes 1. Invest disproportionately in cloud, data and cybersecurity as our anchor services. 2. Scale managed services via automation and operating efficiency. 3. Incubation process for emerging opportunities 4. Become more discerning about non-strategic services op
Slide 108: Transform solution selling
Transform solution selling Actions Outcomes 1. Segment clients to grow deeper, long-term technology, services and solutions relationships in our most strategic accounts. 2. Tie our sales compensation to enhanced profitability and solutions growth. 3. Align our coverage model for team selling of solu
Slide 109: Scale services
Scale services Actions Outcomes 1. Greater focus on long-term account relationships and larger projects lessens reliance on smaller transactions. 2. Improve delivery efficiency and competitiveness via onshore hiring practices and significant development of Indian capability. 3. Improved operating l
Slide 110: Accelerate profitable growth
Accelerate profitable growth Actions Outcomes 1. Ensure consistency in pricing and margin expectations and strengthen financial approval processes. 2. Leverage operations automation and e-commerce to more efficiently and effectively serve clients. 3. Grow support function costs at lower rate than
Slide 111: Our actions will drive our Solutions Integrator strategy
Our actions will drive our Solutions Integrator strategy Insight has combined the strengths of a traditional system integrator and technology reseller to operate uniquely as a Solutions Integrator. As our clients shift to the cloud, we are leveraging this positioning to generate new cloud and servic
Slide 112: Stan Lequin
STAN LEQUIN Insight
Slide 113: Be ambitious. See what a true Solutions Integrator can do
Be ambitious. See what a true Solutions Integrator can do
Slide 114: Our superpowers
Our superpowers Everything is secure by design; creating the future project security flywheel Meeting our clients where they are in their journey and delivering faster business outcomes Unlocking the power of data and creating a competitive advantage through Artificial Intelligence (AI) Cybersecurit
Slide 115: Steward Healthcare
Steward Healthcare Insight
Slide 116: Steward Healthcare
Steward Healthcare Insight
Slide 117: We help clients drive digital transformation and innovation
We help clients drive digital transformation and innovation Our expertise Intelligent Edge Gather and use data in the most efficient way possible to enable real-time decision-making and affect pivotal outcomes. Cybersecurity Mitigate risks and secure business assets. Modern Workplace Create a produc
Slide 118: Strong capabilities, transformational customer wins and adding scale
Strong capabilities, transformational customer wins and adding scale SCALE 5,300 teammates INNOVATION 70+ Patents pending SCALE 4M managed cloud seats INNOVATION 10 transformational IP CUSTOMER SATISFACTION 70 NPS CULTURE Attrition < Industry
Slide 119: Recent partner awards, certifications & industry recognition
Recent partner awards, certifications & industry recognition Magic Quadrant for Public Cloud IT Transformation Service Providers, 2022 Magic Quadrant for Software Asset Management Managed Services, 2022 Intel Innovation Partner of the Year Worldwide Cloud Migrate POY App Modernization POY Technology
Slide 120: HashiCorp
HashiCorp Insight
Slide 121: HashiCorp
HashiCorp Insight
Slide 122: Outcomes of working with a Solutions Integrator
Outcomes of working with a Solutions Integrator By working with Insight as a Solutions Integrator, clients can realize the full spectrum of transformation outcomes with services designed to engage any need at any stage of the digital transformation journey. Unlocking power of data Data-driven insigh
Slide 123: The transformation continuum
The transformation continuum Solutions integration The core elements The results Improving business value/revenue Ability to meet new market expectations Accelerating business value/revenue Ability to exceed new market expectations Creating new business value/ revenue Ability to preempt new market e
Slide 124: Innovation at Insight
Innovation at Insight Insight
Slide 125: Innovation at Insight
Innovation at Insight Insight
Slide 126: Break
BREAK Insight
Slide 127: Microsoft
Microsoft Insight
Slide 128: Microsoft
Microsoft Insight
Slide 129: Matt Jackson, Phil Rickson, Jason Rader
MATT JACKSON PHIL RICKSON JASON RADER
Slide 130: Insight
Insight
Slide 131: Glynis Bryan
GLYNIS BRYAN Insight
Slide 132: Ambition in Action Investor Day
ion in Action f y pj DAY Insight. "G?
Slide 133: Why Insight
• A new category, offering a differentiated value proposition • Global capability, supported by an excellent management team and clear strategic vision • Expand gross margins through laser focus on cloud and Insight core services • Leverage automation, technology and IP to scale business efficiently
Slide 134: Five-year performance
Five-year performance 2017 – June 30, 2022 TTM
Slide 135: Five-year performance 2017-2022 TTM
$3.53 $5.42 $7.10 $8.49 2017 2019 2021 TTM Q2-22 $237 $306 $388 $455 3.5% 4.0% 4.1% 4.4% 2.0 % 2.5 % 3.0 % 3.5 % 4.0 % 4.5 % $- $10 0 $20 0 $30 0 $40 0 $50 0 2017 2019 2021 TTM Q2-22 $0.9 $1.1 $1.4 $1.6 13.7% 14.7% 15.3% 15.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% $- $0.2 $0.4 $0.6 $0.8 $1.0 $1.2
Slide 136: Five-year projections
Five-year projections Profitable growth and sustainable margin expansion 2022–2027
Slide 137: 2027 KPIs for success
KPIs TTM Q2 2022 RESULTS 2027 PROJECTIONS EXISTING: EBITDA margin* 4.4% 6.5% - 7.0% ROIC* 15.7% >25% NEW METRICS: Core services GP | 5-year CAGR 14% 16% - 20% Cloud GP | 5-year CAGR 28% 16% - 20% EPS* | 5-year CAGR 19% 19% - 22% Free cash flow as a % of net income* Not meaningful >90% 2027 KPIs for
Slide 138: Key drivers and enablers
• Insight core services GP growth • Cloud GP growth • Product and pricing optimization • Sales transformation • Portfolio optimization • Automation & efficiency Key drivers Profitable growth and sustainable margin expansion Enablers Gross profit is a better metric to evaluate our performance and pro
Slide 139: Profitable growth and sustainable margin expansion
Profitable growth and sustainable margin expansion • Grow GP at > 2x product GP. • Focus our portfolio of offerings. • Attract and retain leading technical talent. • Execute significant sales transformation. • Grow GP at 2x product GP. • Accelerate digital through cloud offering. • Increase share of
Slide 140: Gross profit growth
Gross profit growth ($B) 10% - 12% CAGR vs. 2022** ** Trailing twelve months as of June 30, 2022 $USD in billions $1.6 $- $1 $1 $2 $2 $3 $3 2022** Base Product Cloud Core + Partner Services Services Optimization Product Optimization 2027 Gross Profit GP GP GP GP GP Gross Profit
Slide 141: Enablers
Enablers SALES TRANSFORMATION PORTFOLIO OPTIMIZATION AUTOMATION
Slide 142: Enablers: Sales transformation
Enablers Sales transformation SALES TRANSFORMATION PORTFOLIO OPTIMIZATION AUTOMATION • Compensation model incentivizes solutions selling. • Delivering benefits as expected • Expansion plans for 2023
Slide 143: Enablers: Portfolio optimization
Enablers Portfolio optimization SALES TRANSFORMATION PORTFOLIO OPTIMIZATION AUTOMATION • Eliminate low-value offerings. • Leverage strengths of emerging partners. • Stay ahead of technology changes. • Compensation model incentivizes solutions selling. • Delivering benefits as expected • Expansion pl
Slide 144: Enablers: Automation
Enablers Automation • Leverage our IP and technology. • Focus on quick wins – largest areas of opportunity • Improved tools and data • Eliminate low-value offerings. • Leverage strengths of emerging partners. • Stay ahead of technology changes. SALES TRANSFORMATION PORTFOLIO OPTIMIZATION AUTOMATION
Slide 145: ACCA
ACCA (Association of Chartered Certified Accountants)
Slide 146: ACCA
ACCA (Association of Chartered Certified Accountants)
Slide 147: All roads lead to higher solutions sales and margin expansion
All roads lead to higher solutions sales and margin expansion. • Improved pricing drives profitability. • Sales comp aligns with strategic priorities. • Process optimization delivers efficiency. • Technology enables scalability. • Better analytics supports faster decision-making. Strategic initiativ
Slide 148: Sustainable margin expansion
Total Sales Growth Above Market Total Gross Margin Expansion Continuous Operational Improvements Cloud ProductCore services Insight core services & cloud Portfolio/pricing optimization Sales transformation Operating leverage Automation & process improvements Digital & big data transformation Product
Slide 149: EBITDA growth
$455 $- $20 0 $40 0 $60 0 $80 0 $1,0 00 $1,2 00 $1,4 00 $1,6 00 $1,8 00 EBITDA Base Product Cloud Core + Partner Services Services Optimization Product Optimization Base & Variable Investments EBITDA 2022** GP GP GP GP GP SG&A SG&A 2027 EBITDA* growth 17% - 20% CAGR vs. 2022** ** Trailing twelve mon
Slide 150: Debt
Debt 2 PRIMARY DEBT INSTRUMENTS ABL • $1.8B effective July 2022; increase of $600M • Matures July 2027 • Supports working capital needs Convertible note • $350M • Coupon 0.75% fixed • Matures February 2025
Slide 151: Cash flow
Cash flow FREE CASH FLOW (FCF) • 2019–2022 significant working capital swings related to hardware growth • Expect normalized cash generation in 2023 • Capital expenditures in the range of $30M – $35M each year • Business generates a lot of cash Cash generation and debt capacity provide significant c
Slide 152: Capital allocation priorities
Capital allocation priorities Organic • Automation to increase efficiency and capacity • Scalable IT and service delivery platforms • Grow technical and sales talent capabilities. M&A • Seek out cultural / strategic / financial fit. • Accretive within the first full year following acquisition • ROIC
Slide 153: 2027 KPIs for success
KPIs TTM Q2 2022 RESULTS 2027 PROJECTIONS EXISTING: EBITDA margin* 4.4% 6.5% - 7.0% ROIC* 15.7% >25% NEW METRICS: Core services GP | 5-year CAGR 14% 16% - 20% Cloud GP | 5-year CAGR 28% 16% - 20% EPS* | 5-year CAGR 19% 19% - 22% Free cash flow as a % of net income* Not meaningful >90% 2027 KPIs for
Slide 154: Why Insight
• A new category, offering a differentiated value proposition • Global capability, supported by an excellent management team and clear strategic vision • Expand gross margins through laser focus on cloud and Insight core services • Leverage automation, technology and IP to scale business efficiently
Slide 155: Thank you
Thank you Insight
Slide 156: Insight
Insight
Slide 157: Ambition in Action
Ambition in Action 7 Eis Insight.
Slide 158: EBITDA, gross profit, EPS CAGR targets
+6.5 - 7% EBITDA +200 BPS GROWTH +GROSS PROFIT +20% EPS CAGR
Slide 159: Insight.
a Insight.
Slide 160: Opportunity
Pi Opportunity Insight
Slide 161: Ahead of the Curve
AHEAD OF THE CURVE
Slide 162: The Leading Solutions Integrator
CAPTIVATE Clients SELL Solutions DELIVER Differentiation CAPITALIZE on Culture THE LEADING SOLUTIONS INTEGRATOR
Slide 163: Insight
Slide 164: Appendix
Appendix
Slide 165: Assumptions
General • Lower growth in 2023 due to macro environment • Tax rate = 25% – 26% each year • 2022 figures represent TTM June 30, 2022 Capital • Capital expenditures = $30M – $35M annually • M&A is not factored into projections • $300M share repurchase authorization across the 5-year period Assumptions
Slide 166: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures * Assumed tax rate of 26.0%. ** Average of previous five quarters. *** Computed as Adjusted non-GAAP consolidated EFO, net of tax, divided by invested capital
Slide 167: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)
Reconciliation of GAAP to Non-GAAP Financial Measures (continued)
Slide 168: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)
Reconciliation of GAAP to Non-GAAP Financial Measures (continued) **Amoritzation of intangibles, a portion of interest (debt discount) and the associated income tax are part of non-gaap adjustments to earnings; only any incremental added for EBITDA.
Slide 169: Safe harbor statement
Safe harbor statement This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 related to Insight’s plans and expectations. Statements that are not historical facts, including those related to our expectations about future fin