{"id":430947,"date":"2021-02-08T16:04:35","date_gmt":"2021-02-08T21:04:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=430947"},"modified":"2021-02-08T16:04:35","modified_gmt":"2021-02-08T21:04:35","slug":"cdk-global-inc-reports-second-quarter-fiscal-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cdk-global-inc-reports-second-quarter-fiscal-2021-results\/","title":{"rendered":"CDK Global, Inc. Reports Second Quarter Fiscal 2021 Results"},"content":{"rendered":"

\nAchieves Record Sites in North America; Provides Full Year Guidance
\n<\/h2>\n
\n

HOFFMAN ESTATES, Ill., Feb. 08, 2021 (GLOBE NEWSWIRE) — <\/p>\n

CDK Global, Inc. (NASDAQ:CDK) today announced financial results for its fiscal 2021 second quarter ended December 31, 2020.<\/p>\n

“I’m extremely proud of what our teams accomplished, as we launched Neuron, our data intelligence platform and continued our initiatives to bring even more value to our dealer and OEM customers with new products and innovative technology. The efforts of our ongoing customer-first strategy resulted in achieving a new company record high net promoter score,” said Brian Krzanich, CDK chief executive officer. “We remain very optimistic about our strategy to focus on growth opportunities in North America, giving us confidence we can deliver sustainable growth and create long-term shareholder value.”<\/p>\n

“We reached the highest site count in company history and increased revenue per site in both our auto and adjacency businesses, while we continue to deal with the broader uncertainty of the macro environment,” said Eric Guerin, CDK chief financial officer. “As we move toward closing the sale of the CDK International business later this third quarter, I\u2019m quite pleased with our strong financial position and ability to implement our growth strategy.”<\/p>\n

On November 27, 2020, we entered into an agreement to sell the International business and as a result, the assets and liabilities of the International business are considered held for sale and the financial results are presented in net earnings from discontinued operations in the Consolidated Statements of Operations. Prior year amounts associated with the International business have been reclassified. Therefore, non-GAAP results in the table below exclude the International business.<\/p>\n

\n
\n Second Quarter Fiscal 2021 Results<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n CDK Global, Inc.<\/strong>\n <\/td>\n\u00a0<\/td>\nQ2 2021<\/td>\n\u00a0<\/td>\nChange from
Q2 2020<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n ($ million except per share)<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 406.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-3<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Earnings before income taxes<\/td>\n\u00a0<\/td>\n\n 81.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-19<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted earnings before income taxes<\/td>\n\u00a0<\/td>\n\n 100.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-16<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Diluted earnings attributable to CDK per share<\/td>\n\u00a0<\/td>\n\n 0.56<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/m<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted diluted earnings attributable to CDK per share<\/td>\n\u00a0<\/td>\n\n 0.59<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-17<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP effective tax rate<\/td>\n\u00a0<\/td>\n\n 27.9<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n -1230 bps<\/em>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP effective tax rate<\/td>\n\u00a0<\/td>\n\n 26.2<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 70 bps<\/em>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Net earnings attributable to CDK<\/td>\n\u00a0<\/td>\n\n 68.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/m<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Net earnings attributable to CDK margin<\/td>\n\u00a0<\/td>\n\n 16.8<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 1150 bps<\/em>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted EBITDA<\/td>\n\u00a0<\/td>\n\n 155.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-11<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted EBITDA margin<\/td>\n\u00a0<\/td>\n\n 38.3<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n -350 bps<\/em>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

The non-GAAP results and guidance presented in this press release represent non-GAAP financial measures. Reconciliations of these measures to the most directly comparable GAAP measures are provided in the tables at the end of this press release.<\/p>\n

\n
\n Fiscal 2021 Annual Guidance<\/u>
\n <\/strong>
\n
The fiscal 2021 guidance is provided on both a GAAP and a Non-GAAP basis.\u00a0The non-GAAP guidance in the table below excludes the International business results and the expected gain on the sale as these amounts are now reported within discontinued operations. The GAAP revenue also excludes the International business as the financial results are reported within discontinued operations on a net earnings basis.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n CDK Global, Inc. – GAAP BASIS<\/strong>\n <\/td>\n\u00a0<\/td>\nFY 2021 GAAP
GUIDANCE<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n ($ million except per share)<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue<\/td>\n\u00a0<\/td>\n\n $1,660 – $1,710<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Diluted earnings attributable to CDK per share<\/td>\n\u00a0<\/td>\n\n $8.10 – $8.40<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Net earnings attributable to CDK<\/td>\n\u00a0<\/td>\n\n $990 – $1,030<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGAAP Effective tax rate<\/td>\n\u00a0<\/td>\n\n 29 – 30%<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n CDK Global, Inc. – Non-GAAP BASIS<\/strong>\n <\/td>\n\u00a0<\/td>\nFY 2021 ADJ.
GUIDANCE<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n ($ million except per share)<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue<\/td>\n\u00a0<\/td>\n\n $1,660 – $1,710<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted diluted earnings attributable to CDK per share<\/td>\n\u00a0<\/td>\n\n $2.45 – $2.75<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted EBITDA<\/td>\n\u00a0<\/td>\n\n $640 – $680<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-GAAP Adjusted effective tax rate<\/td>\n\u00a0<\/td>\n\n 26 – 27%<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n Website Schedules<\/u>
\n <\/strong>
\n
Other financial information, including financial statements and supplementary schedules presented on a GAAP and adjusted basis, and the schedule of quarterly revenue have been updated for the second quarter ended December 31, 2020 and will be posted to the CDK Investor Relations website, https:\/\/investors.cdkglobal.com<\/u><\/a>, in the \u201cFinancial Information\u201d section.<\/p>\n

\n
\n Webcast and Conference Call<\/u>
\n <\/strong>
\n
An analyst conference call will be held today, Monday, February 8, 2021 at 4:00 p.m. CT. A live webcast of the call will be available on a listen-only basis. To listen to the webcast, go to the CDK Investor Relations website, https:\/\/investors.cdkglobal.com<\/u><\/a>, and click on the webcast icon. A supplemental slide presentation will be available to download and print about 30 minutes before the webcast at the CDK Investor Relations website at https:\/\/investors.cdkglobal.com<\/u><\/a>. CDK financial news releases, current financial information, SEC filings and Investor Relations presentations are accessible at the same website.<\/p>\n

\n About CDK Global
<\/strong>CDK Global (Nasdaq: CDK) is a leading provider of integrated data and technology solutions to the automotive, heavy truck, recreation and heavy equipment industries. Focused on enabling end-to-end, omnichannel retail commerce through open, agnostic technology, CDK Global provides solutions to dealers and original equipment manufacturers, serving nearly 15,000 retail locations in North America. CDK solutions connect people with technology by automating and integrating all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit cdkglobal.com<\/u><\/a><\/p>\n

\n Safe Harbor for Forward-Looking Statements
<\/strong>\n <\/p>\n

This press release contains “forward-looking statements” within the meaning statements regarding the sale of the CDK International business (“International Business”); the Company\u2019s business outlook, including the Company\u2019s GAAP and adjusted fiscal 2021 guidance; other plans; objectives; forecasts; goals; beliefs; business strategies; future events; business conditions; results of operations; financial position and business outlook and trends; and other information, may be forward-looking statements. Words such as “might,” “will,” “may,” “could,” “should,” “estimates,” “expects,” “continues,” “contemplates,” “anticipates,” “projects,” “plans,” “potential,” “predicts,” “intends,” “believes,” “forecasts,” “future,” “assumes,” and variations of such words or similar expressions are intended to identify forward-looking statements. These statements are based on management’s expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed, or implied by, these forward-looking statements.<\/p>\n

Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: the timing of or failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the sale of the International Business, the Company\u2019s ability to achieve the intended benefits of the sale of the International Business and the expected costs of the sale of the International Business; the Company\u2019s expectations regarding the potential impacts on the Company\u2019s business of the outbreak of the COVID-19 pandemic; the Company\u2019s success in obtaining, retaining and selling additional services to customers; the pricing of the Company\u2019s products and services; overall market and economic conditions, including interest rate and foreign currency trends, and technology trends; adverse global economic conditions and credit markets and volatility in the countries in which we do business; auto sales and related industry changes; competitive conditions; changes in regulation; changes in technology, security breaches, interruptions, failures and other errors involving the Company\u2019s systems; availability of skilled technical employees\/labor\/personnel; the impact of new acquisitions and divestitures; employment and wage levels; availability of capital for the payment of debt service obligations or dividends or the repurchase of shares; any changes to the Company\u2019s credit ratings and the impact of such changes on financing costs, rates, terms, debt service obligations, access to capital market and working capital needs; the impact of the Company\u2019s indebtedness, access to cash and financing, and ability to secure financing, or financing at attractive rates; the onset of or developments in litigation involving contract, intellectual property, competition, shareholder, and other matters, and governmental investigations; and the ability of the Company\u2019s significant stockholders and their affiliates to significantly influence the Company\u2019s decisions or cause it to incur significant costs.<\/p>\n

There may be other factors that may cause the Company\u2019s actual results, performance or achievements to differ materially from those expressed in, or implied by, the forward-looking statements. The Company gives no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them do, what impact they will have on its results of operations and financial condition. You should carefully read the factors described in the Company\u2019s reports filed with the\u00a0Securities and Exchange Commission\u00a0(“SEC”), including those discussed under “Part I, Item 1A. Risk Factors” in its most recent Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q for a description of certain risks that could, among other things, cause the Company\u2019s actual results to differ from any forward-looking statements contained herein. These filings can be found on the Company\u2019s website at https:\/\/investors.cdkglobal.com<\/u><\/a>\u00a0and the\u00a0SEC’s\u00a0website at\u00a0www.sec.gov<\/u><\/a>.<\/p>\n

All forward-looking statements speak only as of the date of this press release even if subsequently made available by the Company on its website or otherwise. The Company disclaims any obligation to update or revise any forward-looking statements that may be made to reflect new information or future events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.<\/p>\n\n\n\n
Investor Relations Contact:<\/td>\nMedia Contact:<\/td>\n<\/tr>\n
Julie Schlueter
847.485.4643
julie.schlueter@cdk.com<\/a><\/u><\/td>\n		Roxanne Pipitone
847.485.4423
roxanne.pipitone@cdk.com<\/a><\/u><\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc.<\/strong>
\n
\n Consolidated Statements of Operations<\/strong>
\n
(In millions, except per share amounts)
(Unaudited)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n406.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n418.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n820.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n835.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of revenue<\/td>\n207.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n432.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n400.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expenses<\/td>\n85.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n173.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n177.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Litigation provision<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total expenses<\/td>\n292.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n618.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n577.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating earnings<\/td>\n113.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n202.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n258.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n(34.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(69.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(73.9<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from equity method investment<\/td>\n(1.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income, net<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings before income taxes<\/td>\n81.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n156.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n(22.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(40.4<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(49.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(63.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings from continuing operations<\/td>\n58.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n106.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings (loss) from discontinued operations<\/td>\n11.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings<\/td>\n70.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n128.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: net earnings attributable to noncontrolling interest<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings attributable to CDK<\/td>\n$<\/td>\n68.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n22.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n124.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n104.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings attributable to CDK per share – basic:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Continuing operations<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.85<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Discontinued operations<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.30<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.14<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total net earnings attributable to CDK per share – basic<\/td>\n$<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings attributable to CDK per share – diluted:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Continuing operations<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Discontinued operations<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.14<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total net earnings attributable to CDK per share – diluted<\/td>\n$<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.85<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted-average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n121.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n122.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

The International Business is presented as discontinued operations and prior year amounts associated with the International Business have been reclassified as such. For additional information refer to Form 10-Q, Item 1 of Part I, “Notes to the Consolidated Financial Statements,” Note 1 – Basis of Presentation and Note 4 – Discontinued Operations.<\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc. <\/strong>
\n
\n Consolidated Balance Sheets<\/strong>
\n
(In millions)
(Unaudited)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nJune 30,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
\n
\n Assets<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n62.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n80.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, net of allowances<\/td>\n228.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n242.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other current assets<\/td>\n146.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n148.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets held for sale<\/td>\n762.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n1,199.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n685.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property, plant and equipment, net<\/td>\n85.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n413.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n418.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n1,001.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n999.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intangible assets, net<\/td>\n235.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term assets held for sale<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n424.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n2,935.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,854.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Liabilities and Stockholders’ Deficit<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current maturities of long-term debt and finance lease liabilities<\/td>\n$<\/td>\n320.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n24.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses and other current liabilities<\/td>\n175.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Litigation liability<\/td>\n34.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued payroll and payroll-related expenses<\/td>\n53.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Short-term deferred revenue<\/td>\n42.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities held for sale<\/td>\n158.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n129.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n807.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n526.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term debt and finance lease liabilities<\/td>\n2,333.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,655.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term deferred revenue<\/td>\n40.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n78.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other liabilities<\/td>\n100.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term liabilities held for sale<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n3,360.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,434.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders’ Deficit:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock<\/td>\n1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n696.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n687.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n1,124.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,045.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock, at cost<\/td>\n(2,295.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,305.2<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated other comprehensive loss<\/td>\n34.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(25.9<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total CDK stockholders’ deficit<\/td>\n(438.5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(596.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Noncontrolling interest<\/td>\n13.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stockholders’ deficit<\/td>\n(425.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(580.7<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders’ deficit<\/td>\n$<\/td>\n2,935.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,854.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

The International Business is presented as discontinued operations and prior year amounts associated with the International Business have been reclassified as such. For additional information refer to Form 10-Q, Item 1 of Part I, “Notes to the Consolidated Financial Statements,” Note 1 – Basis of Presentation and Note 4 – Discontinued Operations.<\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc. <\/strong>
\n
\n Consolidated Statements of Cash Flows<\/strong>
\n
(In millions)
(Unaudited)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n<\/tr>\n
\n Cash Flows from Operating Activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings<\/td>\n\u00a0<\/td>\n$<\/td>\n128.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n108.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: net earnings (loss) from discontinued operations<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings from continuing operations<\/td>\n\u00a0<\/td>\n106.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjustments to reconcile net earnings from continuing operations to cash flows provided by operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n\u00a0<\/td>\n46.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from equity method investment<\/td>\n\u00a0<\/td>\n5.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n\u00a0<\/td>\n2.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation expense<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Changes in assets and liabilities, net of effect from acquisitions of businesses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in accounts receivable<\/td>\n\u00a0<\/td>\n15.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(20.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in other assets<\/td>\n\u00a0<\/td>\n(5.5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.6<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in accounts payable<\/td>\n\u00a0<\/td>\n(10.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(11.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in accrued expenses and other liabilities<\/td>\n\u00a0<\/td>\n(38.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(28.5<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows provided by operating activities, continuing operations<\/td>\n\u00a0<\/td>\n147.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n140.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows provided by (used in) operating activities, discontinued operations<\/td>\n\u00a0<\/td>\n25.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows provided by operating activities<\/td>\n\u00a0<\/td>\n173.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Cash Flows from Investing Activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n\u00a0<\/td>\n(10.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capitalized software<\/td>\n\u00a0<\/td>\n(31.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(26.4<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Investment in certificates of deposit<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12.0<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Proceeds from maturities of certificates of deposit<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in investing activities, continuing operations<\/td>\n\u00a0<\/td>\n(42.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(40.2<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in investing activities, discontinued operations<\/td>\n\u00a0<\/td>\n(4.6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7.9<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in investing activities<\/td>\n\u00a0<\/td>\n(46.6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(48.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Cash Flows from Financing Activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net proceeds (repayments) from revolving credit facility<\/td>\n\u00a0<\/td>\n(15.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Repayments of long-term debt and finance lease liabilities<\/td>\n\u00a0<\/td>\n(10.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(260.4<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dividends paid to stockholders<\/td>\n\u00a0<\/td>\n(36.5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36.5<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Proceeds from exercises of stock options<\/td>\n\u00a0<\/td>\n2.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Withholding tax payments for stock-based compensation awards<\/td>\n\u00a0<\/td>\n(4.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5.7<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dividend payments to noncontrolling owners<\/td>\n\u00a0<\/td>\n(6.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6.6<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Acquisition-related payments<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.7<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in financing activities, continuing operations<\/td>\n\u00a0<\/td>\n(70.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(219.0<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in financing activities, discontinued operations<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in financing activities<\/td>\n\u00a0<\/td>\n(70.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(220.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Effect of exchange rate changes on cash, cash equivalents, and restricted cash<\/td>\n\u00a0<\/td>\n22.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net change in cash, cash equivalents and restricted cash, including cash classified in current assets held for sale<\/td>\n\u00a0<\/td>\n77.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(88.2<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Net change in cash classified in current assets held for sale<\/td>\n\u00a0<\/td>\n(102.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net change in cash, cash equivalents and restricted cash<\/td>\n\u00a0<\/td>\n(24.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(81.6<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash, cash equivalents, and restricted cash, beginning of period<\/td>\n\u00a0<\/td>\n97.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n144.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash, cash equivalents, and restricted cash, end of period<\/td>\n\u00a0<\/td>\n$<\/td>\n72.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n62.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

The International Business is presented as discontinued operations and prior year amounts associated with the International Business have been reclassified as such. For additional information refer to Form 10-Q, Item 1 of Part I, “Notes to the Consolidated Financial Statements,” Note 1 – Basis of Presentation and Note 4 – Discontinued Operations<\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc.<\/strong>
\n
\n Consolidated Adjusted Financial Information<\/strong>
\n
(In millions, except per share amounts)
(Unaudited)<\/p>\n

As described below under the Non-GAAP Financial Measures section of this press release, we incorporated the following additional adjustments in our calculations of non-GAAP financial measures where management has deemed it appropriate to better reflect our underlying operations. These adjustments are inconsistent in amount and frequency and do not directly reflect our underlying operations. Therefore, management believes that excluding such information provides us with a better understanding of our ongoing operating performance across periods.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Revenue (a)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 406.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 418.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (11.9<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (3<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 820.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 835.9<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (15.9<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (2<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Impact of exchange rates<\/td>\n\u00a0<\/td>\n(0.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Constant currency revenue (a) (b)<\/td>\n\u00a0<\/td>\n$<\/td>\n406.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n418.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(12.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n819.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n835.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(16.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Earnings before income taxes (a)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 81.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 100.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (19.0<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (19<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 156.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 188.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (32.3<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (17<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Margin<\/em>\n <\/td>\n\u00a0<\/td>\n\n 20.1<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 24.0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -390 bps<\/em>\n <\/td>\n\u00a0<\/td>\n\n 19.1<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 22.6<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -350 bps<\/em>\n <\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n\u00a0<\/td>\n4.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted earnings before income taxes (a) (b)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 100.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 119.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (18.8<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (16<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 213.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 235.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (22.7<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (10<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Adjusted margin<\/em>\n <\/td>\n\u00a0<\/td>\n\n 24.8<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 28.6<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -380 bps<\/em>\n <\/td>\n\u00a0<\/td>\n\n 26.0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 28.2<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -220 bps<\/em>\n <\/td>\n<\/tr>\n
Impact of exchange rates<\/td>\n\u00a0<\/td>\n(0.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Constant currency adjusted earnings before income taxes (a) (b)<\/td>\n\u00a0<\/td>\n$<\/td>\n100.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n119.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(18.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n213.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n235.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(22.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Provision for income taxes (a)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 40.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (17.7<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (44<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 49.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 63.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (14.1<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (22<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Effective tax rate<\/em>\n <\/td>\n\u00a0<\/td>\n\n 27.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 40.2<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 31.8<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 33.8<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n\u00a0<\/td>\n3.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Impact of U.S tax reform<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted provision for income taxes (a) (b)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 26.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 30.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (4.1<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (13<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 59.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 60.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (1.0<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (2<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Adjusted effective tax rate<\/em>\n <\/td>\n\u00a0<\/td>\n\n 26.2<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 25.5<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 27.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 25.6<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Net earnings<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 70.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 24.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 46.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n n\/m<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 128.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 108.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 19.9<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 18<\/strong>\n <\/td>\n\u00a0<\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Less: net earnings attributable to noncontrolling interest<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net earnings attributable to CDK<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 68.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 46.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n n\/m<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 124.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 104.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 19.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 19<\/strong>\n <\/td>\n\u00a0<\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n\u00a0<\/td>\n(11.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets (c)<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect on pre-tax adjustments<\/td>\n\u00a0<\/td>\n(3.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(11.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Impact of U.S tax reform<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted net earnings attributable to CDK (a) (b) (c)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 72.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 87.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (14.7<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (17<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 149.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 171.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (21.9<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (13<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Diluted earnings attributable to CDK per share<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.56<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.18<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.38<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n n\/m<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.01<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.85<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.16<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 19<\/strong>\n <\/td>\n\u00a0<\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n\u00a0<\/td>\n(0.09<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.17<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n\u00a0<\/td>\n0.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets (c)<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect on pre-tax adjustments<\/td>\n\u00a0<\/td>\n(0.03<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.04<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.08<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.09<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Impact of U.S tax reform act<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted diluted earnings attributable to CDK per share (a) (b) (c)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.59<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.71<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (0.12<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (17<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.40<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (0.18<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (13<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted-average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Diluted<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 122.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Net earnings attributable to CDK<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 68.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 46.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n n\/m<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 124.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 104.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 19.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 19<\/strong>\n <\/td>\n\u00a0<\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Margin<\/em>\n <\/td>\n\u00a0<\/td>\n\n 16.8\u00a0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 5.3\u00a0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 1150 bps<\/em>\n <\/td>\n\u00a0<\/td>\n\n 15.1\u00a0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 12.5\u00a0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 260 bps<\/em>\n <\/td>\n<\/tr>\n
Net earnings attributable to noncontrolling interest<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n\u00a0<\/td>\n(11.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n\u00a0<\/td>\n22.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n\u00a0<\/td>\n34.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n73.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n\u00a0<\/td>\n23.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u00a0<\/td>\n2.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA (a) (b)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 155.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 174.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (19.1<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (11<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 323.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 346.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (23.3<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (7<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
\n Adjusted margin<\/em>\n <\/td>\n\u00a0<\/td>\n\n 38.3\u00a0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 41.8\u00a0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -350 bps<\/em>\n <\/td>\n\u00a0<\/td>\n\n 39.4\u00a0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 41.4\u00a0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n -200 bps<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nSix Months Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\nDecember 31,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n<\/tr>\n
Net cash flows provided by operating activities<\/td>\n\n $<\/strong>\n <\/td>\n\n 173.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 178.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in (provided by) operating activities – discontinued operations<\/td>\n(25.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(38.5<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n(10.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9.1<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capitalized software<\/td>\n(31.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(26.4<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in restricted cash<\/td>\n6.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Free cash flow from continuing operations (a) (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 112.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 103.9<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(a) Excludes amounts attributable to discontinued operations.
(b) Refer to the Non-GAAP Financial Measures section of this press release for additional information on our non-GAAP adjustments.
(c)\u00a0The portion of expense related to noncontrolling interest has been removed from amortization of acquired intangible assets for the three and six months ended December 31, 2020 and 2019.<\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc.<\/strong>
\n
\n Revenue Disaggregation<\/strong>
\n
(In millions)
(Unaudited)<\/p>\n

The following table presents revenue by revenue category for the three and six months ended December\u00a031, 2020 and 2019:<\/p>\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\nSix Months Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
Subscription<\/td>\n\u00a0<\/td>\n$<\/td>\n328.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n336.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(8.5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n652.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n669.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(17.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
On-site license and installation<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(50<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n3.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(37<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Transaction<\/td>\n\u00a0<\/td>\n39.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n83.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n37.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n81.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
Total<\/td>\n\u00a0<\/td>\n$<\/td>\n406.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n418.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(11.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n820.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n835.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(15.9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc.<\/strong>
\n
\n Recast of Financial Information for the Six Quarterly Periods ending December 31, 2020<\/strong>
\n
(In millions, except per share amounts)
(Unaudited)<\/p>\n

The following tables provide the GAAP Statement of Operations and Non GAAP financial performance measures<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n417.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n418.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n426.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n376.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n413.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n406.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of revenue<\/td>\n207.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n224.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expenses<\/td>\n86.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n81.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Litigation provision<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total expenses<\/td>\n293.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n280.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n281.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n325.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating earnings<\/td>\n124.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n146.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n113.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n(37.7<\/td>\n)<\/td>\n\u00a0<\/td>\n(36.2<\/td>\n)<\/td>\n\u00a0<\/td>\n(35.2<\/td>\n)<\/td>\n\u00a0<\/td>\n(35.0<\/td>\n)<\/td>\n\u00a0<\/td>\n(34.7<\/td>\n)<\/td>\n\u00a0<\/td>\n(34.3<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from equity method investment<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2.7<\/td>\n)<\/td>\n\u00a0<\/td>\n(3.4<\/td>\n)<\/td>\n\u00a0<\/td>\n(1.8<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income, net<\/td>\n1.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.7<\/td>\n)<\/td>\n\u00a0<\/td>\n18.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings before income taxes<\/td>\n88.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n109.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n81.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n(23.4<\/td>\n)<\/td>\n\u00a0<\/td>\n(40.4<\/td>\n)<\/td>\n\u00a0<\/td>\n(31.7<\/td>\n)<\/td>\n\u00a0<\/td>\n(13.3<\/td>\n)<\/td>\n\u00a0<\/td>\n(27.0<\/td>\n)<\/td>\n\u00a0<\/td>\n(22.7<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings from continuing operations<\/td>\n64.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n77.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings (loss) from discontinued operations<\/td>\n19.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36.0<\/td>\n)<\/td>\n\u00a0<\/td>\n(17.9<\/td>\n)<\/td>\n\u00a0<\/td>\n(16.0<\/td>\n)<\/td>\n\u00a0<\/td>\n10.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings<\/td>\n84.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: net earnings attributable to noncontrolling interest<\/td>\n2.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings attributable to CDK<\/td>\n$<\/td>\n82.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n22.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n57.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n45.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n55.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n68.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings (loss) attributable to CDK per share – basic:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Continuing operations<\/td>\n$<\/td>\n0.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Discontinued operations<\/td>\n0.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.30<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.15<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.13<\/td>\n)<\/td>\n\u00a0<\/td>\n0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total net earnings attributable to CDK per share – basic<\/td>\n$<\/td>\n0.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings (loss) attributable to CDK per share – diluted:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Continuing operations<\/td>\n$<\/td>\n0.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Discontinued operations<\/td>\n0.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.29<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.15<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.13<\/td>\n)<\/td>\n\u00a0<\/td>\n0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total net earnings attributable to CDK per share – diluted<\/td>\n$<\/td>\n0.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted-average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n121.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n122.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
Subscription Revenue<\/td>\n$<\/td>\n332.4<\/td>\n\u00a0<\/td>\n$<\/td>\n336.8<\/td>\n\u00a0<\/td>\n$<\/td>\n331.7<\/td>\n\u00a0<\/td>\n$<\/td>\n305.1<\/td>\n\u00a0<\/td>\n$<\/td>\n323.9<\/td>\n\u00a0<\/td>\n328.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
On-site license and installation<\/td>\n2.1<\/td>\n\u00a0<\/td>\n3.0<\/td>\n\u00a0<\/td>\n2.4<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n1.7<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction<\/td>\n42.7<\/td>\n\u00a0<\/td>\n39.8<\/td>\n\u00a0<\/td>\n38.1<\/td>\n\u00a0<\/td>\n34.4<\/td>\n\u00a0<\/td>\n43.9<\/td>\n\u00a0<\/td>\n39.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n40.5<\/td>\n\u00a0<\/td>\n38.6<\/td>\n\u00a0<\/td>\n54.2<\/td>\n\u00a0<\/td>\n33.9<\/td>\n\u00a0<\/td>\n44.2<\/td>\n\u00a0<\/td>\n37.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 417.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 418.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 426.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 376.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 413.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 406.3<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

As described below under the Non-GAAP Financial Measures section of this press release, we incorporated the following additional adjustments in our recast of calculations of non-GAAP financial measures where management has deemed it appropriate to better reflect our underlying operations. These adjustments are inconsistent in amount and frequency and do not directly reflect our underlying operations. Therefore, management believes that excluding such information provides us with a better understanding of our ongoing operating performance across periods.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Revenue (a)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 417.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 418.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 426.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 376.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 413.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 406.3<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Earnings before income taxes (a)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 88.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 100.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 109.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 76.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 75.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 81.5<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Margin<\/em>\n <\/td>\n\n 21.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 24.0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 25.6<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 20.2<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 18.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 20.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n3.8<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n2.2<\/td>\n\u00a0<\/td>\n6.0<\/td>\n\u00a0<\/td>\n12.3<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n3.9<\/td>\n\u00a0<\/td>\n3.7<\/td>\n\u00a0<\/td>\n3.8<\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n4.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n1.0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n7.4<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n2.8<\/td>\n\u00a0<\/td>\n14.0<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n4.3<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n2.9<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n2.2<\/td>\n\u00a0<\/td>\n3.0<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted earnings before income taxes (a) (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 116.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 119.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 123.9<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 96.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 112.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 100.7<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted margin<\/em>\n <\/td>\n\n 27.8<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 28.6<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 29.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 25.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 27.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 24.8<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Provision for income taxes (a)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 23.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 40.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 31.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 13.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 27.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.7<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Effective tax rate<\/em>\n <\/td>\n\n 26.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 40.2<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 29.1<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 17.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 36.0<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 27.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n6.2<\/td>\n\u00a0<\/td>\n4.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.9<\/td>\n\u00a0<\/td>\n6.2<\/td>\n\u00a0<\/td>\n3.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect for foreign earnings previously deemed indefinitely reinvested<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7.0<\/td>\n)<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n(14.8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Impact of U.S tax reform<\/td>\n0.3<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted provision for income taxes (a) (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 29.9<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 30.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 28.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 33.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 26.4<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted effective tax rate<\/em>\n <\/td>\n\n 25.7<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 25.5<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 23.0<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 23.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 29.6<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 26.2<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Net earnings<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 84.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 24.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 59.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 46.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 58.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 70.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: net earnings attributable to noncontrolling interest<\/td>\n2.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net earnings attributable to CDK<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 82.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 57.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 45.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 55.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 68.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n(19.2<\/td>\n)<\/td>\n\u00a0<\/td>\n36.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10.0<\/td>\n)<\/td>\n\u00a0<\/td>\n(11.3<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets (c)<\/td>\n3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters (c)<\/td>\n7.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n4.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n(6.2<\/td>\n)<\/td>\n\u00a0<\/td>\n(4.9<\/td>\n)<\/td>\n\u00a0<\/td>\n(3.8<\/td>\n)<\/td>\n\u00a0<\/td>\n(4.9<\/td>\n)<\/td>\n\u00a0<\/td>\n(6.2<\/td>\n)<\/td>\n\u00a0<\/td>\n(3.7<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect for foreign earnings previously deemed indefinitely reinvested<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.4<\/td>\n)<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Impact of U.S. tax reform act<\/td>\n(0.3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted net earnings attributable to CDK (a) (b) (c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 84.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 87.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 93.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 72.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 76.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 72.4<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Diluted earnings attributable to CDK per share<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 0.67<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.18<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.47<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.37<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.46<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.56<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n(0.16<\/td>\n)<\/td>\n\u00a0<\/td>\n0.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.08<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.09<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.05<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets (c)<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n0.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters (c)<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n(0.05<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.04<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.03<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.04<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.05<\/td>\n)<\/td>\n\u00a0<\/td>\n(0.03<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect for foreign earnings previously deemed indefinitely reinvested<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.04<\/td>\n)<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in valuation allowance<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted diluted earnings attributable to CDK per share (a) (b) (c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 0.69<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.71<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.76<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.59<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.63<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.59<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted-average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Diluted<\/strong>\n <\/td>\n\n 122.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.1<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n\n Mar 31,<\/strong>\n <\/td>\n\n Jun 30,<\/strong>\n <\/td>\n\n Sep 30,<\/strong>\n <\/td>\n\n Dec 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Net earnings attributable to CDK<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 82.0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 57.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 45.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 55.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 68.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Margin<\/em>\n <\/td>\n\n 19.6<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 5.3<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 13.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 12.1<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 13.5<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 16.8<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n
Net earnings attributable to noncontrolling interest<\/td>\n2.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n1.9<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n2.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (earnings) loss from discontinued operations<\/td>\n(19.2<\/td>\n)<\/td>\n\u00a0<\/td>\n36.0<\/td>\n\u00a0<\/td>\n17.9<\/td>\n\u00a0<\/td>\n16.0<\/td>\n\u00a0<\/td>\n(10.0<\/td>\n)<\/td>\n\u00a0<\/td>\n(11.3<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n23.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40.4<\/td>\n\u00a0<\/td>\n31.7<\/td>\n\u00a0<\/td>\n13.3<\/td>\n\u00a0<\/td>\n27.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n37.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36.2<\/td>\n\u00a0<\/td>\n35.2<\/td>\n\u00a0<\/td>\n35.0<\/td>\n\u00a0<\/td>\n34.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n21.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22.6<\/td>\n\u00a0<\/td>\n22.3<\/td>\n\u00a0<\/td>\n25.0<\/td>\n\u00a0<\/td>\n23.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n2.2<\/td>\n\u00a0<\/td>\n6.0<\/td>\n\u00a0<\/td>\n12.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n8.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n1.0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n7.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.8<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n2.8<\/td>\n\u00a0<\/td>\n14.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n4.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n4.1<\/td>\n\u00a0<\/td>\n2.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n1.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n3.3<\/td>\n\u00a0<\/td>\n4.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA (a) (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 171.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 174.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 177.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 153.3<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 167.6<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 155.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted margin<\/em>\n <\/td>\n\n 41.1<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 41.8<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 41.7<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 40.7<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 40.5<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\n 38.3<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

(a) Excludes amounts attributable to discontinued operations.
(b) Refer to the Non-GAAP Financial Measures section of this press release for additional information on our non-GAAP adjustments.
(c)\u00a0The portion of expense related to noncontrolling interest has been removed from amortization of acquired intangible assets and legal and other expenses related to regulatory and competition matters for the applicable periods.<\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n CDK Global, Inc.<\/strong>
\n
\n Consolidated Fiscal 2021 Guidance<\/strong>
\n
(In millions, except per share amounts)
(Unaudited)<\/p>\n

As described below under the Non-GAAP Financial Measures section of this press release, the fiscal 2021 guidance is provided on both a GAAP and a Non-GAAP basis.\u00a0The non-GAAP guidance in the table below excludes the International Business results and the expected gain on the sale as these amounts are now reported within discontinued operations. The GAAP revenue also excludes the International Business as the financial results are reported within discontinued operations on a net earnings basis. The table below includes these adjustments for fiscal 2021 guidance.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Fiscal 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Point
Estimate (a)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Guidance<\/strong>\n <\/td>\n<\/tr>\n
\n Revenue (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1,685<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $1,660 – $1,710<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Earnings before income taxes (b)<\/strong>\n <\/td>\n310<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from extinguishment of debt<\/td>\n22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted earnings before income taxes (b)(c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 444<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Fiscal 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Point Estimate (a)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Guidance<\/strong>\n <\/td>\n<\/tr>\n
\n Provision for income taxes (b)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 92<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Effective tax rate<\/em>\n <\/td>\n\n 29.7<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 29% – 30%<\/em>\n <\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted provision for income taxes (b)(c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 118<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted effective tax rate<\/em>\n <\/td>\n\n 26.6<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\n 26% – 27%<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Fiscal 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Point
Estimate (a)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Guidance<\/strong>\n <\/td>\n<\/tr>\n
\n Net earnings (d)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1,018<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: net earnings attributable to noncontrolling interest<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net earnings attributable to CDK<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1,010<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings loss from discontinued operations<\/td>\n(800<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related expenses<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and regulatory expenses related to competition matters<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from extinguishment of debt<\/td>\n22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n(26<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted net earnings attributable to CDK (b)(c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 318<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Fiscal 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Point
Estimate (a)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Guidance<\/strong>\n <\/td>\n<\/tr>\n
\n Diluted net earnings attributable to CDK per share (d)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 8.24<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $8.10 – $8.40<\/em>\n <\/td>\n<\/tr>\n
Net earnings from discontinued operations<\/td>\n(6.53<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n0.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related expenses<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and regulatory expenses related to competition matters<\/td>\n0.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from extinguishment of debt<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n0.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effect of pre-tax adjustments<\/td>\n(0.21<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted diluted net earnings attributable to CDK per share (b)(c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 2.60<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $2.45 – $2.75<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Fiscal 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Point
Estimate (a)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Guidance<\/strong>\n <\/td>\n<\/tr>\n
\n Revenue<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1,685<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $1,660 – $1,710<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net earnings attributable to CDK (d)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1,010<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $990 – $1,030<\/em>\n <\/td>\n<\/tr>\n
\n Margin<\/em>\n <\/td>\n\n 59.9<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings attributable to noncontrolling interest<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings from discontinued operations<\/td>\n(800<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n92<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n130<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n95<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stock-based compensation<\/td>\n45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Transaction and integration-related costs<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Legal and other expenses related to regulatory and competition matters<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Business process modernization program<\/td>\n15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from extinguishment of debt<\/td>\n22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Officer transition expense<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net adjustments related to loss from equity method investment<\/td>\n16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA (b)(c)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 660<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $640 – $680<\/em>\n <\/td>\n<\/tr>\n
\n Adjusted margin<\/em>\n <\/td>\n\n 39.2<\/em>\n <\/td>\n\u00a0<\/td>\n\n %<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(a) The point estimates are arbitrary amounts in the guidance ranges provided and are not meant to represent CDK’s forecast of actual results. They are used solely to provide a means to reconcile each non-GAAP guidance range to the most directly comparable GAAP measure in dollars and percentages, where applicable.<\/p>\n

(b) Excludes amounts attributable to discontinued operations.<\/p>\n

(c) Refer to the Non-GAAP Financial Measures section of this press release for additional information on our non-GAAP adjustments.<\/p>\n

(d) GAAP net earnings attributable to CDK includes the International Business results and an estimate of the gain on sale, subject to the application of customary adjustments, including currency translation, indebtedness and working capital adjustments, which will be reported in discontinued operations upon closing in the third quarter of fiscal 2021.<\/p>\n

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\n CDK Global, Inc.<\/strong>
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\n Performance Metrics<\/strong>
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\n (Unaudited)<\/strong>\n <\/p>\n

CDK management regularly reviews the following key performance measures to evaluate business results and make operating and strategic decisions. These measures are intended to provide directional information regarding trends in our subscription revenue. The following table summarizes these measures for certain subscription revenue.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nFor the three months ended<\/td>\n<\/tr>\n
\u00a0<\/td>\nDecember 31,
2019 (a)<\/td>\n		\u00a0<\/td>\nMarch 31,
2020 (a)<\/td>\n		\u00a0<\/td>\nJune 30,
2020 (a)<\/td>\n		\u00a0<\/td>\nSeptember 30,
2020<\/td>\n		\u00a0<\/td>\nDecember 31,
2020<\/td>\n<\/tr>\n
\n Automotive<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
DMS Customer Sites (b)<\/td>\n8,974<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,948<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,951<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,966<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,997<\/td>\n\u00a0<\/td>\n<\/tr>\n
Avg Revenue Per Site (c)<\/td>\n$<\/td>\n8,858<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,034<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,902<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,005<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjacencies<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
DMS Customer Sites (b)<\/td>\n5,802<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,793<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,768<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,804<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
Avg Revenue Per Site (c)<\/td>\n$<\/td>\n1,764<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,784<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,799<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,822<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total CDK<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
DMS Customer Sites (b)<\/td>\n14,776<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,741<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,719<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,770<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,851<\/td>\n\u00a0<\/td>\n<\/tr>\n
Avg Revenue Per Site (c)<\/td>\n$<\/td>\n6,076<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,533<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,179<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(a) Average revenue per Dealer Management System (DMS) customer site has been updated for fiscal 2020 to reflect budgeted foreign exchange rates for fiscal 2021.<\/p>\n

(b) DMS Customer Sites (end of period) – We track the number of retail customer sites with an active DMS that sell vehicles in the automotive and adjacent markets as an indicator of our opportunity set for generating subscription revenue. We consider a DMS to be active if we have billed a subscription fee for that solution during the last billing cycle in the period presented in the table. Adjacent markets include heavy truck dealerships that provide vehicles to the over-the-road trucking industry, recreation dealerships in the motorcycle, powersports, marine, and recreational vehicle industries, and heavy equipment dealerships in the agriculture and construction equipment industries.<\/p>\n

(c) Average Revenue Per DMS Customer Site (monthly average for period) – Average revenue per DMS customer site is an indicator of the scope of adoption of our solutions by DMS customers. We monitor changes in this metric to measure the effectiveness of our strategy to deepen our relationships with our current customer base through upgrading and expanding solutions. We calculate average revenue per DMS customer site by dividing subscription revenue generated from our solutions, in an applicable quarterly period by the monthly average number of DMS customer sites in the same period, divided by three. The metric excludes subscription revenue generated from customers not included in our DMS customer site count as well as subscription revenue related to certain installation and training activities that is deferred then recognized as revenue over the life of the contract. Revenue underlying this metric is based on budgeted foreign exchange rates. When we discuss growth in average revenue per DMS customer site, revenue for the comparable prior period has been adjusted to reflect budgeted foreign exchange rates for the current period.<\/p>\n

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\n Non-GAAP Financial Measures<\/strong>\n <\/p>\n

We disclose certain financial measures for our consolidated results on both a GAAP and a non-GAAP basis. The non-GAAP financial measures disclosed should be viewed in addition to, and not as an alternative to, results prepared in accordance with GAAP. Our use of each of the following non-GAAP financial measures may differ from similarly titled non-GAAP financial measures presented by other companies, and other companies may not define these non-GAAP financial measures, or reconcile them to the comparable GAAP financial measures, in the same way.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n Non-GAAP Financial Measure<\/strong>\n <\/td>\n\n Comparable GAAP Financial Measure<\/strong>\n <\/td>\n<\/tr>\n
Adjusted earnings before income taxes<\/td>\nEarnings before income taxes<\/td>\n<\/tr>\n
Adjusted provision for income taxes<\/td>\nProvision for income taxes<\/td>\n<\/tr>\n
Adjusted net earnings attributable to CDK<\/td>\nNet earnings attributable to CDK<\/td>\n<\/tr>\n
Adjusted diluted earnings attributable to CDK per share<\/td>\nDiluted earnings attributable to CDK per share<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\nNet earnings attributable to CDK<\/td>\n<\/tr>\n
Adjusted EBITDA margin<\/td>\nNet earnings attributable to CDK margin<\/td>\n<\/tr>\n
Constant currency revenue<\/td>\nRevenue<\/td>\n<\/tr>\n
Constant currency adjusted earnings before income taxes<\/td>\nEarnings before income taxes<\/td>\n<\/tr>\n
Free cash flow from continuing operations<\/td>\nNet cash flows provided by operating activities<\/td>\n<\/tr>\n<\/table>\n

We use adjusted earnings before income taxes, adjusted provision for income taxes, adjusted net earnings attributable to CDK, adjusted diluted earnings attributable to CDK per share, adjusted EBITDA and adjusted EBITDA margin internally to evaluate our performance on a consistent basis, because those measures adjust for the impact of certain items that we believe do not directly reflect our underlying operations. By adjusting for these items we believe we have more precise inputs for use as factors in (i) our budgeting process, (ii) making financial and operational decisions, (iii) evaluating ongoing overall operating performance on a consistent period-to-period basis and relative to our competitors, (iv) target leverage calculations, and (v) determining incentive-based compensation.<\/p>\n

We believe our non-GAAP financial measures are helpful to users of the financial statements because they (i) provide investors with meaningful supplemental information regarding financial performance by excluding certain items, (ii) permit investors to view performance using the same tools that management uses, and (iii) otherwise provide supplemental information that may be useful to investors in evaluating our ongoing operating results on a consistent basis. We believe that the presentation of these non-GAAP financial measures, when considered in addition to the corresponding GAAP financial measures and the reconciliations to those measures disclosed below, provides investors with a better understanding of the factors and trends affecting our business than could be obtained absent these disclosures.<\/p>\n

We incorporated additional adjustments in our calculations of non-GAAP financial measures where management has deemed it appropriate to better reflect our underlying operations. These adjustments are inconsistent in amount and frequency and do not directly reflect our underlying operations. Therefore, management believes that excluding such information provides us with a better understanding of our ongoing operating performance across periods. Prior period information has been revised to conform to the new presentation.<\/p>\n

\n Adjusted Earnings before Income Taxes <\/em>\n <\/p>\n

Management has excluded the following items from adjusted earnings before income taxes for the periods presented:<\/p>\n