This excerpt taken from the CVS 8-K filed May 1, 2008.
Adjusted Earnings Per Share
For internal comparisons, management finds it useful to assess year-to-year performance by adjusting diluted earnings per share for amortization, which primarily relates to acquisition activities.
The Company defines adjusted earnings per share as earnings before income tax provision plus amortization, less income tax provision and dilutive earnings adjustment, divided by the weighted average diluted common shares outstanding.
Following is a reconciliation of earnings before income tax provision to adjusted earnings per share: