| ▲ | SpicyLemonZest 3 hours ago | |
In the US, public companies generally must report their financial results according to generally accepted accounting principles (GAAP). They can also report other numbers, and that's what they're doing in footnote (1); they think one particular adjustment GAAP requires them to make might be misleading, and they helpfully disclose that they would have calculated 13% if not for that adjustment. But they are not allowed to say that the GAAP number is wrong or untruthful, nor to put the non-GAAP number in the topline and the GAAP adjustment in the footnote. | ||