Adjusted Earnings

Okay, your company had earnings. According to GAAP, it earned $115 million. But included in that number was a $10 million, one-time charge that hadn't been reserved for. It was all paid out this quarter, and taking out the 30% tax it would have paid on that incremental $10 million of earnings, the company would have earned $7 million more, or $122 million. GAAP said that expense from the lawsuit was an expense, as it was payable immediately. So the $122 million was the company's adjusted earnings.