Outlook: The Company is reintroducing both GAAP and non-GAAP pro forma adjusted guidance for 2022 (suspended on June 1, 2022) to reflect the results of the second quarter, as well as our most recent views on the macro-economic and geopolitical environment. 2022 reported revenue is expected to increase more than 30%. GAAP diluted EPS is expected to be in a range of $10.20 to $10.40.
The Company is providing non-GAAP adjusted guidance on a pro forma basis that excludes merger expenses, and amortization of intangibles related to acquisitions. Non-GAAP pro forma adjusted guidance is provided to reflect expected financial results for the full year, as if the merger with IHS Markit (and associated divestitures) had been completed on January 1, 2021. Non-GAAP pro forma adjusted revenue is now expected to decline low to mid-single digits. Non-GAAP pro forma adjusted diluted EPS is expected in the range of $11.35 to $11.55. Non-GAAP pro forma adjusted free cash flow excluding certain items is expected in the range of $4.1 billion to $4.2 billion.
