"Acquisitions" for additional information about these transactions.
Adjusted earnings consists of net income determined in accordance with GAAP adjusted to exclude the impact of the following: Mercerizing Process In Textile
Russia/Ukraine conflict charges. This adjustment represents a non-cash charge recorded to reduce the carrying amount of accounts receivable and inventory directly related to the Russia/Ukraine military conflict.
Strategic initiatives. These adjustments primarily reflect professional and legal fees incurred directly related to evaluating and executing certain strategic initiatives including costs associated with acquisitions, related integrations, and charges incurred to step-up acquired inventory to fair-value.
COVID-19 ERC recovery. This adjustment reflects the benefit recognized from employee retention credits claimed under the Coronavirus Aid, Relief, and Economic Security Act ("CARES") Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 and professional services fees directly associated with claiming this benefit.
Adjusted earnings from continuing operations $ (19,035) $ (0.42) $ 27,599 $ 0.61
CEO transition costs, excluding forfeiture of share-based compensation
Sales and Costs of Products Sold
[[Image Removed: glt-20221231_g3.jpg]]
[[Image Removed: glt-20221231_g4.jpg]]
significant. The translation of the results from international operations into U.S. dollars is subject to changes in foreign currency exchange rates.
The table below summarizes the translation impact on reported results that changes in currency exchange rates had on our non-U.S. based operations from the conversion of these operation's results for the period indicated.
sale of timberlands. Capital expenditures are expected to total between $35 million and $40 million, including $4 to $5 million for Spunlace integration, in 2023.
Details of our outstanding long-term indebtedness are set forth under Item 8 - Financial Statements and Supplementary Data - Note 20 -" Long-Term Debt. "
Off-Balance-Sheet Arrangements As of December 31, 2022 and 2021, we had not entered into any off-balance-sheet arrangements. Financial derivative instruments, to which we are a party, and guarantees of indebtedness, which solely consist of obligations of subsidiaries, are reflected in the consolidated balance sheets included herein in Item 8 - Financial Statements and Supplementary Data.
Poy Spinning Machine © Edgar Online, source Glimpses