Non-GAAP financial measures
Issues In-Depth | May 2023
In-depth guidance on the SEC rules related to non-GAAP financial measures, with examples and illustrative SEC comments.
Applicability
SEC Regulation G and Regulation S-K Item 10(e)
- All companies in the scope of Regulation G and/or Regulation S-K Item 10(e)
Relevant dates
- Effective immediately
Key impacts
Our in-depth guide provides interpretive guidance on Reg G, Reg S-K Item 10(e) and Instruction 2 to Item 2.02 Form 8-K. This includes:
- Specific requirements and prohibitions applicable for public disclosures, SEC filings and other materials which are furnished rather than filed with the SEC
- Explanation of C&DIs and illustrative SEC comments based on recent public filings
- Additional considerations related to EBIT and EBITDA, segment disclosures and REIT reporting
- Exemptions available to foreign private issuers, including those applying IFRS® Accounting Standards
- Management’s responsibilities related to non-GAAP financial measure disclosure and control procedures
Report contents
- Background
- The rules
- The general requirements
- Specific considerations
- Earnings releases and similar announcements
- Foreign private issuers
- Controls and non-GAAP financial measures
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Non-GAAP Financial Measures
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Meet our team
Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
Hannah Conley
Senior Manager, Dept. of Professional Practice, KPMG US
Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US
Rob Werling
Partner, Dept. of Professional Practice, KPMG US
Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
Hannah Conley
Senior Manager, Dept. of Professional Practice, KPMG US
Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US
Rob Werling
Partner, Dept. of Professional Practice, KPMG US