Updated Non-GAAP Guidance: The First 150 Comment Letters | Shearman & Sterling

Oct 19, 2016

Updated Non-GAAP Guidance: The First 150 Comment Letters

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In May of this year, the staff of the SEC’s Division of Corporation Finance updated its C&DIs regarding the use of non-GAAP financial measures. We summarized the May 2016 update in an earlier client publication. Since the update, the staff has issued over 150 comment letters on non-GAAP measures that have become publicly available. We have reviewed the comment letters and company responses and summarize the most frequent and interesting issues.

View full memo, Updated Non-GAAP Guidance: The First 150 Comment Letters

Autoren und Mitwirkende

Richard Alsop

Partner

Capital Markets

+1 212 848 7333

+1 212 848 7333

New York

Jonathan (JD) DeSantis

Partner

Capital Markets

+1 212 848 5085

+1 212 848 5085

New York

Stuart K. Fleischmann

Partner

Capital Markets

+1 212 848 7527

+1 212 848 7527

New York

Lisa Jacobs

Partner

Capital Markets

+1 212 848 7678

+1 212 848 7678

New York

Merritt Johnson

Partner

Capital Markets

+1 212 848 7522

+1 212 848 7522

New York

Jason Lehner

Partner

Capital Markets

+1 416 360 2974

+1 416 360 2974

+1 212 848 7974

+1 212 848 7974

Toronto

Ilir Mujalovic

Partner

Capital Markets

+1 212 848 5313

+1 212 848 5313

New York

Manuel A. Orillac

Partner

Capital Markets

+1 713 354 4886

+1 713 354 4886

Houston

Antonia E. Stolper

Partner

Capital Markets

+1 212 848 5009

+1 212 848 5009

New York

Harald Halbhuber

Partner

Capital Markets

+1 212 848 7150

+1 212 848 7150

New York

David Dixter

Partner

Capital Markets

+44 20 7655 5633

+44 20 7655 5633

London

Jacques McChesney

Partner

Capital Markets

+44 20 7655 5791

+44 20 7655 5791

London

Trevor Ingram

Partner

Capital Markets

+44 20 7655 5630

+44 20 7655 5630

London

Marwa Elborai

Partner

Capital Markets

+44 20 7655 5524

+44 20 7655 5524

London

Pawel J. Szaja

Partner

Capital Markets

+44 20 7655 5013

+44 20 7655 5013

London

Mehran Massih

Counsel

Real Estate

+44 20 7655 5603

+44 20 7655 5603

+1 212 848 7377

+1 212 848 7377

London

Jonathan Handyside

Counsel

Capital Markets

+44 20 7655 5021

+44 20 7655 5021

London

Domenico Fanuele

Partner

Capital Markets

+39 06 697 679 210

+39 06 697 679 210

+39 02 0064 1510

+39 02 0064 1510

Rome

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

+39 06 697 679 209

+39 06 697 679 209

Milan

Emanuele Trucco

Counsel

Capital Markets

+39 02 0064 1527

+39 02 0064 1527

Milan

Sami Toutounji

Partner

Compensation, Governance & ERISA

+33 1 53 89 70 62

+33 1 53 89 70 62

Paris

Hervé Letréguilly

Partner

Capital Markets

+33 1 53 89 71 30

+33 1 53 89 71 30

Paris

Kyungwon (Won) Lee

Partner

Capital Markets

+852 2978 8078

+1 212 848 8078

+1 212 848 8078

Hong Kong

Andrew Schleider

Partner

Capital Markets

+65 6230 3882

Singapore

Masahisa Ikeda

Partner

Capital Markets

+81 3 5251 1601

+81 3 5251 1601

+1 212 848 5378

+1 212 848 5378

Tokyo

Matthew Bersani

Partner

Capital Markets

+852 2978 8096

Hong Kong

Praxisgruppen

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Anwälte

Kyungwon (Won) Lee

Next Best Image

Praxisgruppe

Capital Markets