Second Quarter 2021 Investor Presentation
Non-GAAP Measures
This presentation includes information on non-GAAP financial measures
("non-GAAP" or "adjusted"), including consolidated adjusted operating
income and earnings per share, excluding non-GAAP items. These financial
measures are not based on any standardized methodology prescribed by U.S.
generally accepted accounting principles ("GAAP") and are not necessarily
comparable to similar measures presented by other companies. Non-GAAP
information is provided as a supplement to, not as a substitute for, or as superior
to, measures of financial performance prepared in accordance with
GAAP. Management believes that this non-GAAP information is useful for an
alternate presentation of the company's performance, when reviewed in conjunction
with the company's GAAP consolidated financial statements, as it helps identify
underlying trends in our business that could otherwise be masked by the effect of
the items that we exclude in such non-GAAP measures. Accordingly, we believe that
adjusted operating income provides useful information to investors and others in
understanding and evaluating our operating results, enhancing the overall
understanding of our past performance and future prospects, and allowing for
greater transparency with respect to the key financial metrics used by our
management in our financial and operational decision-making.
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