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Conditions for Use of Non-GAAP Financial Measures

SEC · final-rule · Published 2003-01-30 · Effective 2003-03-28 · 68 FR 4820

Document

Document number
03-1977
Federal Register citation
68 FR 4820
CFR reference
17 CFR 228
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Securities and Exchange Commission
Publication date
2003-01-30
Effective date
2003-03-28
Docket
RELEASE NO. 33-8176

Abstract

As directed by the Sarbanes-Oxley Act of 2002, we are adopting new rules and amendments to address public companies' disclosure or release of certain financial information that is calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP). We are adopting a new disclosure regulation, Regulation G, which will require public companies that disclose or release such non-GAAP financial measures to include, in that disclosure or release, a presentation of the most directly comparable GAAP financial measure and a reconciliation of the disclosed non-GAAP financial measure to the most directly comparable GAAP financial measure. We also are adopting amendments to Item 10 of Regulation S-K and Item 10 of Regulation S-B to provide additional guidance to those registrants that include non-GAAP financial measures in Commission filings. Additionally, we are adopting amendments to Form 20-F to incorporate into that form the amendments to Item 10 of Regulation S-K. Finally, we are adopting amendments that require registrants to furnish to the Commission, on Form 8-K, earnings releases or similar announcements.

Source

Authoritative
Federal Register document
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