Reconciliation of Non-Gaap Financial Measures and Regulation G ...

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Regulation G Disclosures To supplement our condensed consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), we provide additional measures of segments’ operating income; cost of product sales and services; engineering, selling and administrative expenses; income before income taxes; income taxes; net income; net income attributable to Harris Corporation; and net income per diluted common share attributable to Harris Corporation common shareholders. Harris management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Harris management also believes that these non-GAAP financial measures enhance the ability of investors to analyze Harris’ business trends and to understand Harris’ performance. In addition, Harris may utilize non-GAAP financial measures as a guide in its forecasting, budgeting, and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. A reconciliation of these non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP follows: 2011 Shareholders Meeting Page 2
Reconciliation of Non-GAAP Financial Measures Revenue from product sales and services Operating Income Non-operating loss Net Interest expense Income before income taxes Income taxes Net income Noncontrolling interests, net of income taxes Net income attributable to Harris Corporation Net income per diluted common share attributable to 2011 Shareholders Meeting $ 5,924.6 Total Company Results $ ― $ 5,924.6 $ 5,206.1 $ ― Non-GAAP % Change $ 5,206.1 13.8% 970.2 46.6 (2) 1,016.8 912.8 26.1 (1) 938.9 8.3% (1.9) ― (1.9) (1.9) ― (1.9) (87.6) ― (87.6) (70.6) ― (70.6) 880.7 46.6 927.3 840.3 26.1 866.4 7.0% (293.6) (9.8) (303.4) (278.7) (6.2) (284.9) $ 588.0 Fiscal 2011 587.1 36.8 623.9 561.6 19.9 581.5 0.9 ― 0.9 ― ― ― $ 36.8 (In millions, except per share amounts) $ 624.8 $ 561.6 $ 19.9 $ 581.5 7.4% Harris Corporation common shareholders $ 4.60 $ 0.29 $ 4.89 $ 4.28 $ 0.15 $ 4.43 10.4% (1) Adjustments relate to costs associated with our acquisitions of Wireless Systems, Crucial Security, SolaCom ATC, Patriot, SignaCert and CapRock. (2) Adjustments relate to costs associated with our acquisitions of CapRock, Schlumberger GCS, Core180 and Carefx. Fiscal 2010 As Reported Adjustment Non-GAAP As Reported Adjustment Non-GAAP Page 3
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