Celestica Inc. (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, announced financial results for the quarter ended December 31, 2020 (Q4 2020).
IFRS EPS of $0.47 for FY 2020 included a $0.20 per share negative impact attributable to restructuring charges and a $0.29 per share negative impact attributable to approximately $37 million in estimated COVID-19 Costs, offset in part by a $0.29 per share positive impact attributable to COVID Recoveries (approximately $34 million of COVID Subsidies and $3 million in Customer Recoveries), and a $0.07 per share positive impact to reflect aggregate Stock-based Compensation Reversals. See Schedule 1 for the exclusions used to determine nonIFRS adjusted EPS for FY 2020.
IFRS EPS for FY 2020 also included $18.3 million of tax expenses relating to current and future withholding taxes associated with repatriations of undistributed earnings from certain of our Chinese and Thai subsidiaries that occurred in FY 2020 or are anticipated to occur in the foreseeable future, which was largely offset by an aggregate of $17.5 million in favorable tax impacts (described in note 11 to the Q4 2020 Interim Financial Statements).
IFRS EPS of $0.53 for FY 2019 included an aggregate $0.38 per share net benefit attributable to other charges (recoveries), resulting from a $0.75 per share gain on the sale of our Toronto real property in the first quarter of 2019, offset in part by restructuring charges ($0.29 per share negative impact) and Transition Costs ($0.05 per share negative impact), as well as the impact of the Post-employment Benefit Plan Losses and Waiver Fees described above ($0.03 and $0.02 per share negative impact, respectively). See Schedule 1 for the definition of Transition Costs and the exclusions used to determine non-IFRS adjusted EPS for FY 2019. See note 10 to our Q4 2020 Interim Financial Statements for quantification of the components of other charges (recoveries) for FY 2019.
Source: corporate.celestica.com
