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Managing Coronavirus/COVID-19: Non-GAAP Financial Measures and the Impact of COVID-19

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  • Managing Coronavirus/COVID-19: Non-GAAP Financial Measures and the Impact of COVID-19

The COVID-19 pandemic continues to present public companies with new regulatory compliance and financial reporting challenges. Adjusting the presentation of GAAP financial measures to take into account COVID-19-related expenses is one such challenge and should be considered carefully in light of the SEC’s heightened scrutiny in this area. The SEC’s Division of Corporation Finance (the “Division”) has provided disclosure guidance (the “Disclosure Guidance”) for companies to consider with respect to the business disruptions caused by COVID-19. This guidance specifically highlights the Division’s continued focus on companies’ obligations under Item 10 of Regulation S-K and Regulation G with respect to the presentation of non-GAAP financial measures.

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