Non-GAAP Financial Measures Archives

Topic: Non-GAAP Financial Measures

SEC Provides Guidance on Performance Metrics in MD&A; Proposes Financial Disclosure Changes

by Rob Evans, Laura Crotty, Michelle Earley, Stanley Keller and Eugene McDermott | Jan 31, 2020 | 1934 Act Filings, Disclosure Requirements, Non-GAAP Financial Measures

The Securities and Exchange Commission, on January 30, 2020, issued guidance to reporting companies about the use of key performance indicators and other metrics, including those that are non-GAAP financial measures, in Management’s Discussion and Analysis.

Earnings Releases, Non-GAAP Financial Measures and SEC Enforcement: Pay Attention to Your Headings and Bullet Points

by Stanley Keller | Jan 2, 2019 | 1934 Act Filings, Earnings Releases, Non-GAAP Financial Measures

On December 26, 2018, the Securities and Exchange Commission (“SEC”) entered a Cease-and-Desist Order (see here) against ADT Inc. (“ADT”) pursuant to Section 21C of the Securities Exchange Act of 1934 (the “Exchange Act”) based on ADT’s failure to give equal or greater prominence to comparable GAAP financial measures in two of its earnings releases containing non-GAAP financial measures.

Topic: Non-GAAP Financial Measures

SEC Provides Guidance on Performance Metrics in MD&A; Proposes Financial Disclosure Changes

Earnings Releases, Non-GAAP Financial Measures and SEC Enforcement: Pay Attention to Your Headings and Bullet Points

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