Non-GAAP financial measures

KPMG provides in-depth guidance on the SEC rules on non-GAAP financial measures, with examples and illustrative SEC comments. The guidance also includes the rules for foreign private issuers applying IFRS.

Applicability

SEC Regulation G and Regulation S-K Item 10(e)

• All registrants

Relevant dates

• Effective immediately

Key impacts

Provides interpretive guidance on Regulation G,  Regulation 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 furnished Form 8-Ks
• Explanation of C&DIs and illustrative SEC comments based 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
• 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 announcement
• Foreign private issuers
• Controls and non-GAAP financial measures