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SEC guidance on non-GAAP financial measures

  • SEC (US Securities and Exchange Commission) (dark gray) Image

17 Jan 2010

The staff of the US Securities and Exchange Commission has issued Compliance and Disclosure Interpretations (C&DIs) on disclosure of non-GAAP financial measures.

Among other things, the new guidance clarifies that the SEC does not discourage registrants from disclosing non-GAAP financial measures in filings with the SEC. For example, one of the new Q&A clarifies that there is no prohibition against disclosing a non-GAAP financial measure that is not used by management in managing its business. Click for SEC Guidance on Non-GAAP Financial Measures (PDF 48k). Deloitte United States has published a Heads Up Newsletter (PDF 100k) explaining the SEC's new guidance.

 

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