Exhibit 99.1

SS&C Technologies Releases Q1 2021 Earnings Results

Q1 2021 GAAP revenue $1,233.4 million, up 5.1%, Fully Diluted GAAP Earnings Per Share $0.65, up 75.7%

Adjusted revenue $1,235.4 million, up 4.9%, Adjusted Diluted Earnings Per Share $1.18, up 14.6%

WINDSOR, CT, April 26, 2021 (PR Newswire) SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of investment, financial and healthcare software-enabled services and software, today announced its financial results for the first quarter and full year ended March 31, 2021.

(in millions, except per share data):	Three Months Ended March 31, 2021	Three Months Ended March 31, 2020	Change
GAAP Results
Revenue	$1,233.4	$1,173.6	5.1%
Operating income	269.1	218.8	23.0%
Operating income margin	21.8%	18.6%	320 bp
Diluted earnings per share	$0.65	$0.37	75.7%
Adjusted Non-GAAP Results (defined in Notes 1 - 4 below)
Adjusted revenue	$1,235.4	$1,178.0	4.9%
Adjusted operating income	475.8	444.2	7.1%
Adjusted operating income margin	38.5%	37.7%	80 bp
Adjusted diluted earnings per share	$1.18	$1.03	14.6%

First Quarter 2021 Highlights:

• SS&C generated net cash from operating activities of $185.7 million for the three months ended March 31, 2021, up 25.7 percent from the same period in 2020.

• Repurchased 2.7 million shares of common stock in Q1 2021 at an average price of $67.15 per share for $181.4 million.

• Completed the acquisition of Capita Life and Pension Services, making SS&C the largest technology and service provider to the international life and pensions market in Ireland.

• In February, we increased our quarterly dividend payout to $0.16 per share, up 14.3 percent from $0.14 per share.

• Appointed Gautam Moorjani to lead SS&C’s Intelligent Automation Solutions Group. The newly formed group will focus on helping clients with their digital transformation journeys using technologies such as workflow management, machine learning, natural language processing, and robotic process automation.

“SS&C continues to perform as our first quarter 2021 strong results exemplify.  Sales strength in alternatives, Intralinks, and our software businesses all contributed to our 4.9 percent growth in adjusted revenue and 2.9 percent adjusted organic revenue growth,” says Bill Stone, Chairman and Chief Executive Officer. As we emerge from this pandemic, our pipelines are building, our salesforce is growing and we continue to deliver client solutions.  We have several new technologies in the works, including next generation solutions for transfer agency, institutional and investment management, and insurance. The lasting effects from the past 12-14 months include increased need for cloud-based solutions, enhancing the digital experience, and simplifying user interfaces. We look forward to capitalizing on these trends”

Operating Cash Flow

SS&C generated net cash from operating activities of $185.7 million for the three months ended March 31, 2021, compared to $147.7 million for the same period in 2020. SS&C ended the first quarter with $253.7 million in cash and cash equivalents and $6,576.4 million in gross debt, for a net debt balance of $6,322.7 million.  SS&C’s consolidated net leverage ratio as defined in our credit agreement stood at 3.35 times consolidated EBITDA as of March 31, 2021. SS&C’s net secured leverage ratio stood at 2.29 times consolidated EBITDA as of March 31, 2021.

Guidance

	Q2 2021	FY 2021
Adjusted Revenue ($M)	$1,190.0 – $1,230.0	$4,825.0 – $4,965.0
Adjusted Net Income ($M)	$294.0 – $310.0	$1,213.0 – $1,279.0
Adjusted Diluted Earnings per Share	$1.10 – $1.16	$4.54 – $4.76
Cash from Operating Activities ($M)	–	$1,280.0 – $1,340.0
Capital Expenditures (% of revenue)	–	2.6% – 3.0%
Diluted Shares (M)	267.8 – 268.3	267.4 – 268.9
Effective Income Tax Rate (%)	26%	26%

SS&C does not provide reconciliations of guidance for Adjusted Revenues and Adjusted Net Income to comparable GAAP measures, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K.  SS&C is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures.  These items include acquisition transactions and integration, foreign exchange rate changes, as well as other non-cash and other adjustments as defined under the Company’s Credit agreement, that are difficult to predict in advance in order to include in a GAAP estimate.  The unavailable information could have a significant impact on Q2 2021 and FY 2021 GAAP financial results.

Non-GAAP Financial Measures

Adjusted revenue, adjusted operating income, adjusted consolidated EBITDA, adjusted net income and adjusted diluted earnings per share are non-GAAP measures. See the accompanying notes for the reconciliations and definitions for each of these non-GAAP measures and the reasons our management believes these measures provide useful information to investors regarding our financial condition and results of operations.

Earnings Call and Press Release

SS&C’s Q1 2021 earnings call will take place at 5:00 p.m. eastern time today, April 26, 2021. The call will discuss Q1 2021 results and business outlook. Interested parties may dial 844-343-4183 (US and Canada) or 647-689-5128 (International), and request the “SS&C Technologies First Quarter 2021 Earnings Conference Call”; conference ID #6368825.  In connection with the earnings call, a presentation will be available on SS&C’s website at http://investor.ssctech.com/results.cfm. A replay will be available after 8:00 p.m. eastern time on April 26, 2021, until midnight on May 5, 2021. The replay dial-in number is 800-585-8367 or 416-621-4642; access code #6368825. The call will also be available for replay on SS&C’s website after April 26, 2021; access: http://investor.ssctech.com/results.cfm.

Certain information contained in this press release relating to, among other things, the Company’s financial guidance for the second quarter and full year of 2021 constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance, underlying assumptions, and other statements that are other than statements of historical facts.Without limiting the foregoing, the words “believes”, “anticipates”, “plans”, “expects”, “estimates”, “projects”, “forecasts”, “may”, “assume”, “intend”, “will”, “continue”, “opportunity”, “predict”, “potential”, “future”, “guarantee”, “likely”, “target”, “indicate”, “would”, “could” and “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words.  Such statements reflect management’s best judgment based on

factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated.  Such risks and uncertainties include, but are not limited to, the state of the economy and the financial services industry and other industries in which the Company’s clients operate, the Company’s ability to realize anticipated benefits from its acquisitions, including DST Systems, Inc.,  the effect of customer consolidation on demand for the Company’s products and services, the increasing focus of the Company’s business on the hedge fund industry, the variability of revenue as a result of activity in the securities markets, the ability to retain and attract clients, fluctuations in customer demand for the Company’s products and services, the intensity of competition with respect to the Company’s products and services, the exposure to litigation and other claims, terrorist activities and other catastrophic events, disruptions, attacks or failures affecting the Company’s software-enabled services, risks associated with the Company’s foreign operations, privacy concerns relating to the collection and storage of personal information, evolving regulations and increased scrutiny from regulators,  the Company’s ability to protect intellectual property assets and litigation regarding intellectual property rights, delays in product development, investment decisions concerning cash balances, regulatory and tax risks, risks associated with the Company’s joint ventures, changes in accounting standards, risks related to the Company’s substantial indebtedness, the market price of the Company’s stock prevailing from time to time, and the risks discussed in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities and Exchange Commission and can also be accessed on our website.  Forward-looking statements speak only as of the date on which they are made and, except to the extent required by applicable securities laws, we undertake no obligation to update or revise any forward-looking statements.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Follow SS&C on Twitter, LinkedIn and Facebook.

For more information

Patrick Pedonti

Chief Financial Officer

Tel: +1-860-298-4738

E-mail: InvestorRelations@sscinc.com

Justine Stone

Investor Relations

Tel: +1-212-367-4705

E-mail: InvestorRelations@sscinc.com

SS&C Technologies Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Loss)

(in millions, except per share data)

(unaudited)

	Three Months Ended March 31,
	2021			2020
Revenues:
Software-enabled services	$	1,043.4		$	989.5
License, maintenance and related		190.0			184.1
Total revenues		1,233.4			1,173.6
Cost of revenues:
Software-enabled services		595.5			583.5
License, maintenance and related		78.8			82.1
Total cost of revenues		674.3			665.6
Gross profit		559.1			508.0
Operating expenses:
Selling and marketing		92.0			91.4
Research and development		107.9			104.9
General and administrative		90.1			92.9
Total operating expenses		290.0			289.2
Operating income		269.1			218.8
Interest expense, net		(51.4	)		(77.4	)
Other income (expense), net		18.0			(15.3	)
Equity in earnings of unconsolidated affiliates, net		0.3			0.7
Loss on extinguishment of debt		(0.3	)		(2.8	)
Income before income taxes		235.7			124.0
Provision for income taxes		60.8			24.8
Net income	$	174.9		$	99.2
Basic earnings per share	$	0.68		$	0.39
Diluted earnings per share	$	0.65		$	0.37
Basic weighted-average number of common shares outstanding		257.0			255.3
Diluted weighted-average number of common and common equivalent shares outstanding		268.1			265.6
Net income	$	174.9		$	99.2
Other comprehensive income (loss), net of tax:
Change in unrealized gain (loss) on interest rate swaps		0.5			(2.4	)
Foreign currency exchange translation adjustment		8.4			(150.7	)
Total other comprehensive income (loss), net of tax		8.9			(153.1	)
Comprehensive income (loss)	$	183.8		$	(53.9	)

SS&C Technologies Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in millions)

(unaudited)

	March 31,		December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	253.7	$	209.3
Funds receivable and funds held on behalf of clients		2,030.0		1,227.4
Accounts receivable, net		674.5		648.0
Contract asset		27.2		20.4
Prepaid expenses and other current assets		209.4		187.5
Restricted cash		4.4		5.9
Total current assets		3,199.2		2,298.5
Property, plant and equipment, net		402.7		412.8
Operating lease right-of-use assets		339.2		350.8
Investments		193.6		183.5
Unconsolidated affiliates		228.5		225.6
Contract asset		81.7		82.0
Goodwill		8,078.1		8,078.7
Intangible and other assets, net		4,166.1		4,291.7
Total assets	$	16,689.1	$	15,923.6
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt	$	178.2	$	53.9
Client funds obligations		2,030.0		1,227.4
Accounts payable		27.9		28.1
Income taxes payable		46.8		9.3
Accrued employee compensation and benefits		177.5		311.5
Interest payable		—		27.5
Other accrued expenses		323.0		293.1
Deferred revenue		349.9		332.5
Total current liabilities		3,133.3		2,283.3
Long-term debt, net of current portion		6,338.1		6,388.5
Operating lease liabilities		311.8		323.6
Other long-term liabilities		280.9		287.9
Deferred income taxes		890.8		923.8
Total liabilities		10,954.9		10,207.1
Total stockholders’ equity		5,734.2		5,716.5
Total liabilities and stockholders’ equity	$	16,689.1	$	15,923.6

SS&C Technologies Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in millions)

(unaudited)

	Three Months Ended March 31,
	2021			2020
Cash flow from operating activities:
Net income	$	174.9		$	99.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		169.5			184.7
Equity in earnings of unconsolidated affiliates, net		(0.3	)		(0.7	)
Cash distributions received from unconsolidated affiliates		—			2.0
Gain on bargain purchase		(2.9	)		—
Stock-based compensation expense		27.8			22.5
Net (gains) losses on investments		(13.6	)		11.3
Amortization and write-offs of loan origination costs and original issue discounts		3.3			3.5
Loss on extinguishment of debt, net		0.3			0.4
Loss on sale or disposition of property and equipment		—			3.7
Deferred income taxes		(33.5	)		(32.3	)
Provision for doubtful accounts		2.1			2.3
Changes in operating assets and liabilities, excluding effects from acquisitions:
Accounts receivable		(24.9	)		(27.2	)
Prepaid expenses and other assets		(13.9	)		13.2
Contract assets		(6.5	)		(10.5	)
Accounts payable		(2.6	)		6.4
Accrued expenses and other liabilities		(147.7	)		(171.0	)
Income taxes prepaid and payable		47.2			38.1
Deferred revenue		6.5			2.1
Net cash provided by operating activities		185.7			147.7
Cash flow from investing activities:
Cash paid for business acquisitions, net of cash acquired		7.3			(16.3	)
Additions to property and equipment		(9.1	)		(8.5	)
Additions to capitalized software		(22.3	)		(18.0	)
Investments in securities		(10.0	)		(40.0	)
Proceeds from sales / maturities of investments		13.4			6.9
Collection of other non-current receivables		2.8			2.6
Net cash used in investing activities		(17.9	)		(73.3	)
Cash flow from financing activities:
Cash received from debt borrowings		170.0			246.0
Repayments of debt		(99.4	)		(95.9	)
Net increase (decrease) in client funds obligations		777.0			(670.7	)
Proceeds from exercise of stock options		30.6			38.1
Withholding taxes paid related to equity award net share settlement		(1.9	)		(3.3	)
Purchases of common stock for treasury		(181.4	)		—
Dividends paid on common stock		(41.2	)		(31.9	)
Net cash provided by (used in) financing activities		653.7			(517.7	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(1.7	)		(7.1	)
Net increase (decrease) in cash, cash equivalents and restricted cash		819.8			(450.4	)
Cash, cash equivalents and restricted cash, beginning of period		1,337.9			1,789.4
Cash, cash equivalents and restricted cash and cash equivalents, end of period	$	2,157.7		$	1,339.0
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents:
Cash and cash equivalents	$	253.7		$	373.7
Restricted cash and cash equivalents		4.4			8.3
Restricted cash and cash equivalents included in funds receivable and funds held on behalf of clients		1,899.6			957.0
	$	2,157.7		$	1,339.0

SS&C Technologies Holdings, Inc. and Subsidiaries

Disclosures Relating to Non-GAAP Financial Measures

Note 1. Reconciliation of Revenues to Adjusted Revenues

Adjusted revenues represents revenues adjusted to include a) amounts that would have been recognized if deferred revenue were not adjusted to fair value at the date of acquisition and b) amounts that would have been recognized if not for adjustments to deferred revenue and retained earnings related to the adoption of ASC 606.  Adjusted revenues is presented because we use this measure to evaluate performance of our business against prior periods and believe it is a useful indicator of the underlying performance of our business.  Adjusted revenues is not a recognized term under generally accepted accounting principles (“GAAP”).  Adjusted revenues does not represent revenues, as that term is defined under GAAP, and should not be considered as an alternative to revenues as an indicator of our operating performance.  Adjusted revenues as presented herein is not necessarily comparable to similarly titled measures presented by other companies.  Below is a reconciliation of adjusted revenues to revenues, the GAAP measure we believe to be most directly comparable to adjusted revenues.

	Three Months Ended March 31,
(in millions)	2021		2020
Revenues	$	1,233.4	$	1,173.6
ASC 606 adoption impact		0.1		2.2
Purchase accounting adjustments impact on revenue		1.9		2.2
Adjusted revenues	$	1,235.4	$	1,178.0

The following is a breakdown of software-enabled services and license, maintenance and related revenues and adjusted software-enabled services and license, maintenance and related revenues.

	Three Months Ended March 31,
(in millions)	2021		2020
Software-enabled services	$	1,043.4	$	989.5
License, maintenance and related		190.0		184.1
Total revenues	$	1,233.4	$	1,173.6
Software-enabled services	$	1,045.2	$	991.3
License, maintenance and related		190.2		186.7
Total adjusted revenues	$	1,235.4	$	1,178.0

Note 2. Reconciliation of Operating Income to Adjusted Operating Income

Adjusted operating income represents operating income adjusted for amortization of intangible assets, stock-based compensation, purchase accounting adjustments for deferred revenue and related costs, ASC 606 adoption impact and other expenses. Adjusted operating income is presented because we use this measure to evaluate performance of our business and believe it is a useful indicator of our underlying performance.  Adjusted operating income is not a recognized term under GAAP.  Adjusted operating income does not represent operating income, as that term is defined under GAAP, and should not be considered as an alternative to operating income as an indicator of our operating performance. Adjusted operating income as presented herein is not necessarily comparable to similarly titled measures by other companies.  The following is a reconciliation between adjusted operating income and operating income, the GAAP measure we believe to be most directly comparable to adjusted operating income.

	Three Months Ended March 31,
(in millions)	2021		2020
Operating income	$	269.1	$	218.8
Amortization of intangible assets		144.6		157.6
Stock-based compensation		27.8		22.5
Purchase accounting adjustments (1)		10.2		9.5
ASC 606 adoption impact		0.2		2.3
Other (2)		23.9		33.5
Adjusted operating income	$	475.8	$	444.2

(1) Purchase accounting adjustments include (a) an adjustment to increase revenues by the amount that would have been recognized if deferred revenue were not adjusted to fair value at the date of acquisition, (b) an adjustment to increase personnel and commissions expense by the amount that would have been recognized if prepaid commissions and deferred personnel costs were

not adjusted to fair value at the date of the acquisitions and (c) an adjustment to decrease depreciation expense by the amount that would not have been recognized if property, plant and equipment were not adjusted to fair value at the date of acquisition.

(2) Other includes expenses and income that are permitted to be excluded per the terms of our Credit Agreement from Consolidated EBITDA, a financial measure used in calculating our covenant compliance. These include expenses and income related to foreign currency transactions, facilities and workforce restructuring, legal settlements and business acquisitions.

Note 3. Reconciliation of Net Income to EBITDA, Consolidated EBITDA and Adjusted Consolidated EBITDA

EBITDA represents net income before interest expense, income taxes, depreciation and amortization. Consolidated EBITDA, defined under our Credit Agreement entered into in April 2018, as amended, is used in calculating covenant compliance, and is EBITDA adjusted for certain items. Consolidated EBITDA is calculated by subtracting from or adding to EBITDA items of income or expense described below. Adjusted Consolidated EBITDA is calculated by subtracting acquired EBITDA (as defined below) from Consolidated EBITDA. EBITDA, Consolidated EBITDA and Adjusted Consolidated EBITDA are presented because we use these measures to evaluate performance of our business and believe them to be useful indicators of an entity’s debt capacity and its ability to service debt. EBITDA, Consolidated EBITDA and Adjusted Consolidated EBITDA are not recognized terms under GAAP and should not be considered in isolation or as alternatives to operating income, net income or cash flows from operating activities as indicators of our operating performance. These measures are not necessarily comparable to similarly titled measures by other companies.  The following is a reconciliation of EBITDA, Consolidated EBITDA and Adjusted Consolidated EBITDA to net income.

	Three Months Ended March 31,						Twelve Months Ended March 31,
(in millions)	2021			2020			2021
Net income	$	174.9		$	99.2		$	700.9
Interest expense, net		51.4			77.4			219.9
Provision for income taxes		60.8			24.8			186.6
Depreciation and amortization		169.5			184.7			710.1
EBITDA		456.6			386.1			1,817.5
Stock-based compensation		27.8			22.5			93.1
Acquired EBITDA and cost savings (1)		1.3			(1.0	)		4.0
Non-cash portion of straight-line rent expense		(0.2	)		(0.1	)		(0.2	)
Loss on extinguishment of debt, net		0.3			2.8			1.7
Equity in earnings of unconsolidated affiliates, net		(0.3	)		(0.7	)		1.9
Purchase accounting adjustments (2)		1.6			1.8			6.7
ASC 606 adoption impact		0.2			2.3			3.2
Other (3)		5.9			48.8			(41.5	)
Consolidated EBITDA	$	493.2		$	462.5		$	1,886.4
Less: acquired EBITDA and cost savings (1)		(1.3	)		1.0			(4.0	)
Adjusted Consolidated EBITDA	$	491.9		$	463.5		$	1,882.4

(1) Acquired EBITDA reflects the EBITDA impact of significant businesses that were acquired during the period as if the acquisition occurred at the beginning of the period, as well as cost savings enacted in connection with acquisitions.

(2) Purchase accounting adjustments include (a) an adjustment to increase revenues by the amount that would have been recognized if deferred revenue were not adjusted to fair value at the date of acquisitions (b) an adjustment to increase personnel and commissions expense by the amount that would have been recognized if prepaid commissions and deferred personnel costs were not adjusted to fair value at the date of the acquisitions and (c) an adjustment to increase or decrease rent expense by the amount that would have been recognized if lease obligations were not adjusted to fair value at the date of acquisitions.

(3) Other includes expenses and income that are permitted to be excluded per the terms of our Credit Agreement from Consolidated EBITDA, a financial measure used in calculating our covenant compliance. These include expenses and income related to foreign currency transactions, investment gains and losses, facilities and workforce restructuring, legal settlements, business combinations and other items.

Note 4. Reconciliation of Net Income to Adjusted Net Income and Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share

Adjusted net income and adjusted diluted earnings per share represent net income and earnings per share before amortization of intangible assets and deferred financing costs, stock-based compensation, purchase accounting adjustments and other items. We consider adjusted net income and adjusted diluted earnings per share to be important to management and investors because they represent our operational performance exclusive of the effects of amortization of intangible assets and deferred financing costs, stock-based compensation, purchase accounting adjustments, loss on extinguishment of debt and other items, that are not operational in nature or comparable to those of our competitors. Adjusted net income and adjusted diluted earnings per share are not recognized

terms under GAAP.  Adjusted net income and adjusted diluted earnings per share do not represent net incomeor diluted earningsper share, as those terms are defined under GAAP, and should not be considered as alternatives to net incomeor diluted earningsper share as indicators of our operating performance.  Adjusted net income and adjusted diluted earnings per share as presented herein are not necessarily comparable to similarly titled measures presented by other companies.  Below is a reconciliation of adjusted net income and adjusted diluted earnings per share to net income and diluted earningsper share, the GAAP measures we believe to be most directly comparable to adjusted net income and adjusted diluted earnings per share.

	Three Months Ended March 31,
(in millions, except per share data)	2021			2020
GAAP – Net income	$	174.9		$	99.2
Plus: Amortization of intangible assets		144.6			157.6
Plus: Amortization of deferred financing costs and original issue discount		3.3			3.5
Plus: Stock-based compensation		27.8			22.5
Plus: Loss on extinguishment of debt		0.3			2.8
Plus: Purchase accounting adjustments (1)		10.2			9.5
Plus: ASC 606 adoption impact		0.2			2.3
(Less): Equity in earnings of unconsolidated affiliates, net		(0.3	)		(0.7	)
Plus: Other (2)		5.9			48.8
Income tax effect (3)		(50.4	)		(71.5	)
Adjusted net income	$	316.5		$	274.0
Adjusted diluted earnings per share	$	1.18		$	1.03
GAAP diluted earnings per share	$	0.65		$	0.37
Diluted weighted-average shares outstanding		268.1			265.6

(1) Purchase accounting adjustments include (a) an adjustment to increase revenues by the amount that would have been recognized if deferred revenue were not adjusted to fair value at the date of acquisition, (b) an adjustment to increase personnel and commissions expense by the amount that would have been recognized if prepaid commissions and deferred personnel costs were not adjusted to fair value at the date of the acquisitions and (c) an adjustment to decrease depreciation expense by the amount that would not have been recognized if property, plant and equipment were not adjusted to fair value at the date of acquisition.

(2) Other includes expenses and income that are permitted to be excluded per the terms of our Credit Agreement from Consolidated EBITDA, a financial measure used in calculating our covenant compliance. These include expenses and income related to foreign currency transactions, investment gains and losses, facilities and workforce restructuring, legal settlements, business acquisitions and other items.

(3) An estimated normalized effective tax rate of approximately 26% for the three months ended March 31, 2021 and 2020, respectively, has been used to adjust the provision for income taxes for the purpose of computing adjusted net income.