Valeant Non-Gaap Definitions

Valeant Non-Gaap Definitions by Bewoulf Capital

It is one of those posts where I am just reproducing Valeant Non-Gaap Definitions. I just cannot imagine all these expenses being excluded. Source is Q4 2015 results presentation. Link here

The reason I have reproduced this here is to remind myself when I see something like this in a management metric to run the other direction. All I can say is wow… just wow… and run… It is beyond me how to evaluate the operating performance for an acquisitive company with this disclosure…

Going by this disclosure; Bill Ackman can exclude his Valeant loss while reporting because it is a non-cash charge.

Valeant Non-Gaap Definitions

Adjusted EPS Management uses Adjusted EPS...