Non-GAAP Measures: Parsing the Hypos

Our guests – Arnall Golden Gregory’s Joe Alley and Bass Berry & Sims’ Jay Knight – parse some hypothetical examples of what are permissible – and impermissible practices for when companies use non-GAAP financial measures in the eyes of the SEC.
The hypos include:

1. Net income minus goodwill impairment
2. Non-GAAP mentioned in press release title
3. Non-GAAP and credit agreement covenants
4. Reaffirming guidance
5. Proxy disclosure & incentive plans with non-GAAP metrics

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