What is NOPAT?

Effective income tax rate: 23.7%

Explanation please.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (dollar and share data amounts in thousands, except per share data) Years Ended March 31, 2021 2020 2019 Net sales $ $ $ Cost of sales Gross profit Selling, general, and administrative expenses Income from operations Interest income Interest expense Other income, net Total other expense (income), net Income before income taxes 2,545,641 1,171,551 1,374,090 869,885 504,205 (2,637) 6,028 (700) 2,691 501,514 118,939 382,575 2,132,689 1,029,016 1,103,673 765,538 338,135 (7.261) 5,046 2,020,437 980, 187 1,040,250 712,930 327,320 (6,028) 4,661 (247) (1,614) 328,934 64,626 264,308 (516) (2,731) 340,866 64,724 276,142 Income tax expense Net income Other comprehensive income (loss) Unrealized loss on cash flow hedges, net of tax Foreign currency translation gain (loss) Total other comprehensive income (loss) Comprehensive income Net income per share Basic Diluted Weighted average common shares outstanding Basic 8,816 8,816 391,391 (2,905) (2,905) 273,237 (243) (9,428) (9,671) 254,637 $ $ $ $ A 9.73 $ 13.64 13.47 8.92 8.84 $ $ 9.62 $ 28,055 28,406 28,385 28,694 29,641 29,903 Diluted