News & Analysis as of

EBITDA Financial Statements

Goodwin

Use of EBITDA in Earnouts Increased 22% in Two Years

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From 2020 to 2022, EBITDA became almost as prevalent as revenue metrics for determining earnout payments, according to analysis of the Goodwin Private Equity Deals Database. In 2022, EBITDA was used in 40% of earnouts, up 22%...more

Rivkin Radler LLP

Contemplating Selling Your Practice? Consider These First Steps

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In our last installment, we discussed that the dental services industry has undergone large-scale consolidation in recent years, primarily driven by Dental Services Organizations (DSOs) and private investors. We described...more

Goodwin

Debt Download - May 2023

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Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope you are enjoying the Spring weather! Note: Some of the links in this newsletter may redirect...more

Bass, Berry & Sims PLC

SEC Staff Pushes Back on Adjusting for Normal Recurring “Public Company Expenses”

Bass, Berry & Sims PLC on

Along with equal prominence, probably one of the most often non-GAAP comments we see issued by the U.S. Securities and Exchange Commission (SEC) Staff involves its objection to adjustments that it believes substitute...more

King & Spalding

Regulation S-X Updates and the Pro Forma EBITDA Add-back

King & Spalding on

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the financial disclosure requirements in Regulation S-X (the SEC’s accounting rules for the form and content of financial statements...more

BCLP

Q2 Reporting Trends: Few Jump on EBITDAC Bandwagon

BCLP on

Based on Q2 reporting to date, few companies opted to present non-GAAP financial measures using the new metric term “EBITDAC” (earnings before interest, tax, depreciation, amortization – and COVID-19). That is not surprising,...more

Carlton Fields

When Balance Sheet Errors Turn into Multiple EBITDA Claims

Carlton Fields on

After an M&A deal closes, the purchaser may discover information that it considers erroneous in the balance sheet accounts in the acquired company’s financial statements....more

Carlton Fields

Valuing Income Statement Breaches in Transactional Insurance Claims

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Once it has been determined that a breach of a financial statement representation in an acquisition agreement has occurred—specifically with respect to an identified income statement—the question arises as to the quantum of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Guide for Annual Reporting on Fiscal Year 2019 for Companies Listed on the Hong Kong Stock Exchange

This update provides an overview of recent developments that will affect preparation of annual results and annual reports for companies listed on The Stock Exchange of Hong Kong Limited (HKEX). In particular, it covers...more

Mayer Brown Free Writings + Perspectives

SEC Is Serious About “Equal Prominence” Rule in Presentation of Non-GAAP Financial Measures in Earnings Releases

The US Securities and Exchange Commission (SEC) recently gave a strong reminder of the importance of providing equal or greater prominence to the most directly comparable financial measures calculated and presented in...more

Proskauer Rose LLP

Proskauer’s Study Examines 2017 IPOs

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Welcome to this fifth edition of Proskauer’s IPO Study. In it you will find our analysis of market practices and trends for U.S.-listed initial public offerings (IPOs). Our proprietary database and analyses now cover 462 IPOs...more

Proskauer Rose LLP

Proskauer’s 2017 IPO Study

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Proskauer’s Global Capital Markets Group has released its fourth annual IPO Study, a comprehensive analysis of U.S.-listed initial public offerings that priced in 2016, including an identification of IPO trends over a...more

Cozen O'Connor

SEC Issues New C&DIs on the Use of Non-GAAP Financial Measures

Cozen O'Connor on

On May 17, 2016, the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) issued 12 new Compliance & Disclosure Interpretations (C&DIs) regarding the use of non-GAAP financial...more

Carlton Fields

Rep & Warranty Insurance Doesn't Guarantee Purchase Price

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The purchase of buyer side representation and warranty insurance has become increasingly an integrated part of U.S. merger and acquisition transactions. Purchase of the product permits sellers to escrow less of the sale...more

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