RYAN SPECIALTY HOLDINGS, INC. [Rocket]

In millions, except per share items	Dec-05-22	Dec-31-21	Dec-05-21	Dec-31-20	Dec-31-19
	8-K	10-K	8-K	10-K	10-K
Revenues	1,725.2	1,432.2	1,432.8	1,016.7	758.4
Revenue growth	20.4%	40.9%		34.0%
Cost of goods sold	2,258.0	0.7	1,983.2	0.7	0.9
Gross profit	-532.8	1,431.5	-550.5	1,016.0	757.5
Gross margin	-30.9%	100.0%	-38.4%	99.9%	99.9%
Selling, general and administrative [+]	393.9	1,246.1	277.9	859.7	664.1
General and administrative	393.9		277.9
Other operating expenses	-1,325.5		-1,127.7
EBITDA [+]	502.4	298.0	407.2	223.8	146.6
EBITDA growth	23.4%	33.2%		52.7%
EBITDA margin	29.1%	20.8%	28.4%	22.0%	19.3%
Depreciation	109.3	5.0	112.7	3.9	4.8
EBITA	393.1	293.0	294.5	219.8	141.8
EBITA margin	22.8%	20.5%	20.6%	21.6%	18.7%
Amortization of intangibles	103.6	107.7	107.9	63.6	48.3
EBIT [+]	289.5	185.3	186.6	156.2	93.5
EBIT growth	55.1%	18.6%		67.2%
EBIT margin	16.8%	12.9%	13.0%	15.4%	12.3%
Interest expense, net [+]	104.8	-0.6	79.4	-1.6	-6.7
Interest expense	104.8	79.4	79.4	47.2	35.5
Interest income		0.6		1.6	6.7
Other income (expense), net	-5.5	-45.0	-45.7	-31.1	3.4
Pre-tax income	179.2	61.6	61.6	79.5	68.0
Income taxes	15.9	4.9	4.9	9.0	4.9
Tax rate	8.9%	8.0%	8.0%	11.3%	7.2%
Earnings from continuing ops	163.3	65.9	56.6	68.1	64.2
Earnings from discontinued ops	163.3		56.6
Net income	163.3	65.9	56.6	68.1	64.2
Net margin	9.5%	4.6%	4.0%	6.7%	8.5%

Basic EPS	$0.57	$0.62
Diluted EPS	$0.52	$0.62

Shares outstanding (basic)	286.4	105.7
Shares outstanding (diluted)	314.0	105.7

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.