8 unchanged sentences
Prior to the date of separation, the financial statements were prepared on a stand-alone basis and derived from Varian’s consolidated financial statements as we operated as part of Varian.
−Removed: The following data, in so far as it relates to each of the fiscal years from 2015 through 2019 , has been derived from annual consolidated financial statements, including the consolidated balance sheets at September 27, 2019 and September 28, 2018 and the related consolidated statements of earnings, of comprehensive earnings, and of cash flows for the fiscal years 2019 , 2018 and 2017 and notes thereto appearing elsewhere herein.
+Added: The following data, in so far as it relates to each of the fiscal years from 2016 through 2020, has been derived from annual consolidated financial statements, including the consolidated balance sheets at October 2, 2020 and September 27, 2019 and the related consolidated statements of (loss) earnings, of comprehensive (loss) earnings, and of cash flows for the fiscal years 2020, 2019 and 2018 and notes thereto appearing elsewhere herein.
In addition, the following financial data should be read in conjunction with our consolidated financial statements and the accompanying notes and the MD&A included elsewhere herein.
1 unchanged sentence
(In millions, except per share amounts) 2020 2019 2018 2017 (1)
−Removed: Earnings before taxes
−Removed: Taxes on earnings
+Added: Revenues $ 738.3 $ 780.6 $ 773.4 $ 698.1 $ 620.1
+Added: Gross profit $ 190.2 $ 256.7 $ 253.9 $ 253.5 $ 248.4
+Added: (Loss) earnings before taxes (72.6) 21.5 25.7 74.8 105.0
+Added: Taxes on (loss) earnings (15.2) 5.7 (2.6) 22.8 36.0
+Added: Net (loss) earnings (57.4) 15.8 28.3 52.0 69.0
Net earnings attributable to noncontrolling interests 0.5 0.3 0.8 0.4 0.5
−Removed: Net earnings attributable to Varex
−Removed: Net earnings per share attributable to Varex
−Removed: Net earnings per share - basic
−Removed: Net earnings per share - diluted
+Added: Net (loss) earnings attributable to Varex $ (57.9) $ 15.5 $ 27.5 $ 51.6 $ 68.5
+Added: (Loss) earnings per share attributable to Varex
+Added: (Loss) earnings per share - basic $ (1.49) $ 0.41 $ 0.73 $ 1.37 $ 1.83
+Added: (Loss) earnings per share - diluted $ (1.49) $ 0.40 $ 0.72 $ 1.36 $ 1.82
Financial Position at Fiscal Year End:
Working capital $ 361.4 $ 263.3 $ 306.1 $ 343.5 $ 282.1
+Added: Total assets 1,139.5 1,038.9 987.9 1,040.1 622.4
Total debt (excluding current maturities, net of deferred costs) 452.8 364.4 364.8 463.9 —
1 unchanged sentence
Selected Quarterly Financial Data (Unaudited)
−Removed: The following table sets forth selected financial data from our unaudited quarterly consolidated statements of earnings for the eight quarters ended fiscal year 2019 .
−Removed: The information for each quarter has been derived from unaudited financial statements and in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the unaudited interim periods and includes certain reclassifications and rounding differences.
+Added: The following table sets forth selected financial data from our unaudited quarterly consolidated statements of (loss) earnings for the eight quarters ended fiscal year 2020.
+Added: The information for each quarter has been derived from unaudited consolidated financial statements and in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the unaudited interim periods and includes certain reclassifications and rounding differences.
The quarterly data should be read together with our consolidated financial statements and related notes appearing elsewhere in this annual report.
Fiscal Year 2020
−Removed: (In millions, except per share amounts, unaudited)
−Removed: First Quarter
−Removed: Second Quarter
−Removed: Third Quarter
−Removed: Fourth Quarter
+Added: (In millions, except per share amounts, unaudited) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year
Total revenues $ 200.1 $ 197.0 $ 171.2 $ 170.0 $ 738.3
−Removed: Net earnings attributable to Varex
−Removed: Net earnings per share - basic
−Removed: Net earnings per share - diluted
−Removed: During fiscal year 2019, the Company identified errors that originated in prior periods and were corrected for as out of period adjustments in the quarters of fiscal year 2019.
−Removed: Management has determined that such errors and out of period adjustments, which primarily related to inventory accounting, revenue recognition and intercompany transactions, were not material to any of the unaudited interim financial statements.
−Removed: The impact of these errors and out of period adjustments on total revenues, gross margin, net earnings and net earnings per diluted share was as follows:
−Removed: Q1 2019 - $(0.6) million, $(1.1) million, $0.4 million and $0.01 per diluted share, respectively;
−Removed: Q2 2019 - $0.1 million, $0.0 million, $(1.2) million and $(0.03) per diluted share respectively;
−Removed: Q3 2019 - $0.0 million, $(0.9) million, $(0.6) million and $(0.02) per diluted share respectively;
−Removed: Q4 2019 - $0.0 million, $2.2 million, $1.6 million and $0.04 per diluted share, respectively.
+Added: Gross profit $ 61.1 $ 57.6 $ 26.3 $ 45.2 $ 190.2
+Added: Net (loss) $ (1.2) $ (1.8) $ (28.2) $ (26.2) $ (57.4)
+Added: Net (loss) attributable to Varex $ (1.3) $ (1.9) $ (28.3) $ (26.4) $ (57.9)
+Added: (Loss) per share - basic $ (0.03) $ (0.05) $ (0.73) $ (0.68) $ (1.49)
+Added: (Loss) per share - diluted $ (0.03) $ (0.05) $ (0.73) $ (0.68) $ (1.49)
Fiscal Year 2019
−Removed: (In millions, except per share amounts, unaudited)
−Removed: First Quarter
−Removed: Second Quarter
−Removed: Third Quarter
−Removed: Fourth Quarter
+Added: (In millions, except per share amounts, unaudited) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year
Total revenues $ 185.7 $ 195.8 $ 196.7 $ 202.4 $ 780.6
−Removed: Net earnings attributable to Varex
−Removed: Net earnings per share - basic
−Removed: Net earnings per share - diluted
+Added: Gross profit $ 60.0 $ 64.4 $ 60.7 $ 71.6 $ 256.7
+Added: Net earnings (loss) $ 3.0 $ 5.9 $ (1.3) $ 8.2 $ 15.8
+Added: Net earnings (loss) attributable to Varex $ 3.0 $ 5.8 $ (1.4) $ 8.1 $ 15.5
+Added: Earnings (loss) per share - basic $ 0.08 $ 0.15 $ (0.04) $ 0.21 $ 0.41
+Added: Earnings (loss) per share - diluted $ 0.08 $ 0.15 $ (0.04) $ 0.21 $ 0.40
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.