US$'000		Audited  Year ended  28 February  2022	Audited  Year ended  28 February  2021
DETERMINATION OF HEADLINE EARNINGS
Reconciliation of attributable profit to headline earnings
Profit attributable to the equity holders of the parent		33 902	2 601
Headline earnings adjustments		(894)	955
	Impairment of right-of-use assets	–	155
	Profit/(loss) on disposal of property, plant and equipment, right-of-use assets and intangible assets	(82)	912
	Realised foreign exchange gains on equity loans settled	(1 174)	–
	Tax effect	33	(72)
	Non-controlling interests	329	(40)
Headline earnings		33 008	3 556
DETERMINATION OF UNDERLYING* EARNINGS
Reconciliation of headline earnings to underlying* earnings
Headline earnings		33 008	3 556
Underlying* earnings adjustments		5 075	23 383
	Unrealised foreign exchange gains/(losses)	(470)	283
	Acquisition-related fair value adjustments	(567)	–
	Restructuring costs	–	22 378
	Amortisation of acquired intangible assets	10 100	8 635
	Tax effect	(3 009)	(5 843)
	Non-controlling interests	(979)	(2 070)
Underlying* earnings		38 083	26 939

*

Underlying earnings exclude impairments of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, restructuring costs relating to fundamental reorganisations and the taxation effect on all of the aforementioned.

The underlying* earnings measure is specific to Datatec and is not required in terms of International Financial Reporting Standards or the JSE Listings Requirements.