Adjusted Net Income.
EBITDA, Adjusted EBITDA and Adjusted Net Income (collectively, the "Non-GAAP Measures") are performance measures that
provide supplemental information we believe is useful to analysts and investors ... other GAAP measures such as net income, operating income and gross profit. These Non-GAAP Measures
exclude the financial impact of items management does not consider in assessing our ongoing ... debt instruments, for board of director and bank compliance reporting. Our presentation of Non-GAAP Measures should not be
construed as an inference that our future results will be unaffected
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01382251.pdf
same set of tools that we use in analyzing our results. This non-GAAP measure should be considered in addition to results
prepared in accordance with GAAP, but should ... superior to GAAP results. We endeavor to compensate for the limitations
of the non-GAAP measure presented by providing the comparable GAAP measure with equal or greater prominence and descriptions ... reconciling items.
including quantifying such items, to derive the non-GAAP measure. We encourage investors to examine the reconciling adjustments between the GAAP and
non-GAAP measure, which we discuss
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from these
estimates.
Allamounts are in Canadian Dollars unless otherwise specified
1
EFTA01158281
Non-GAAP Measures
This MD&A contains the terms "Earnings Before Interest, Taxes, Depreciation and Amortization" ("EBITDA ... accrued liabilities and deferred revenue.
The following table shows the calculation of this non-GAAP measure.
September 30, December 31,
2010 2009
$ $
Restricted cash 2.022,940
Receivables ... EBITDA (loss) (1,766) (307)
* EBITDA is a non-GAAP measure. Please refer to the section called non-GAAP measures for detailed calculations.
Earnings before interest, taxes, depreciation and amortization
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EFTA00597104Set 9
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tense language, relate to,
among other things: all statements about the usefulness of Non-GAAP measures, the future results of BNY
Mellon, our businesses, financial, liquidity and capital condition, results
https://www.justice.gov/epstein/files/DataSet%209/EFTA00597104.pdf