You are comparing several comparable companies. Since the companies define their normalized net income differently, you decide to create a consistent Normalized Net Income definition for all companies in your analysis as follows.

Normalized Net Income:

• GAAP net income, excluding all non-GAAP items except for stock based compensation expense and amortization of intangible assets.

• Assume that intangible asset amortization and stock-based compensation are tax deductible at the companys effective tax rate of 25.3%

Based on this definition, calculate 2019 Normalized Net Income for the company below (round to the nearest whole number):

non-GAAP Operating profit
($ in millions)	2019A
GAAP Operating profit	56
Amortization of purchased intangible assets	6
Stock based compensation	51
Restructuring expenses	184
non-GAAP operating profit	297
non-GAAP Net income
($ in millions)	2019A
GAAP Net income	(91)
Amortization of purchased intangible assets	6
Stock based compensation	51
Restructuring expenses	184
Losses on investments	14
Tax impact of non-GAAP items	(64)
non-GAAP Net income	100

• $57 million

• $29 million

• $15 million

• $47 million