SEC Staff Updates Interpretations Regarding Non-GAAP Financial Measures
On December 13, 2022, the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission (the “Commission”) issued updated compliance and disclosure interpretations (“C&DIs”) to address certain questions regarding the calculation and presentation of financial measures that are not included in US generally accepted accounting principles (“GAAP”) and related disclosures. The text of the updated C&DIs can be found here.
Although C&DIs represent only the views of the Staff, are not regulations, and are not binding on the Staff or the Commission, the recent updates, outlined below, should assist reporting companies that utilize non-GAAP financial measures in presenting those measures in a compliant manner.
SEC Staff Updates Interpretations Regarding Non-GAAP Financial Measures.pdf (pdf | 116.88 KB )