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For fiscal 2020, we reported a net loss of $1.14 billion, net margin of -31%, and diluted EPS of -$1.44. Excluding a deferred tax asset valuation allowance of $1.10 billion and corresponding non-cash income tax expense based primarily on cumulative taxable losses driven primarily by COVID-19, the adjusted net loss was $34 million, adjusted net margin was -1%, and adjusted diluted EPS was -$0.04. As a reminder, for fiscal 2019, we reported net income of $1.47 billion, net margin of 42%, and diluted EPS of $1.87. Excluding the income tax benefit from the establishment of deferred tax assets related to intra-entity transfers of intangible assets totaling $1.21 billion, adjusted net income was $259 million, adjusted net margin was 7%, and adjusted diluted EPS was $0.33.
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For fiscal 2020, we reported a net loss of $1.14 billion, net margin of -31%, and diluted EPS of -$1.44. Excluding a deferred tax asset valuation allowance of $1.10 billion and corresponding non-cash income tax expense based primarily on cumulative taxable losses driven primarily by COVID-19, the adjusted net loss was $34 million, adjusted net margin was -1%, and adjusted diluted EPS was -$0.04. As a reminder, for fiscal 2019, we reported net income of $1.47 billion, net margin of 42%, and diluted EPS of $1.87. Excluding the income tax benefit from the establishment of deferred tax assets related to intra-entity transfers of intangible assets totaling $1.21 billion, adjusted net income was $259 million, adjusted net margin was 7%, and adjusted diluted EPS was $0.33.