Item 2.02 Results of Operations and Financial Condition
On
The information contained in this Current Report on Form 8-K (including the exhibits) is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
Discussion of Non-GAAP Financial Measures
In the Press Release, we present certain financial information, specifically
Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales, which are
not in accordance with generally accepted accounting principles ("
? for planning purposes, including the preparation of our annual operating budget and developing and refining our internal projections for future periods; ? to evaluate the effectiveness of our business strategies and as a supplemental tool in evaluating our performance against our budget for each period; ? in communications with our board of directors and investors concerning our financial performance; ? to evaluate prior acquisitions in relation to the existing business; and ? to evaluate comparative net sales performance in prior and future periods.
We also use Adjusted EBITDA as a benchmark for the determination of the bonus component of compensation for our senior executives under our management incentive plans.
We believe that the disclosure of Adjusted EBITDA, Adjusted Net Income, Free
Cash Flow, and Core Sales offers additional financial metrics which, when
coupled with
? Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, Core Sales, and similar non-GAAP measures are widely used by investors to measure a company's operating performance without regard to items that can vary substantially from company to company depending upon financing and accounting methods, book values of assets, tax jurisdictions, capital structures and the methods by which assets were acquired; and ? by comparing our Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales in different historical periods, our investors can evaluate our operating performance excluding the impact of certain items. 2
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Item 9.01 Financial Statements and Exhibits (d) Exhibit No. Description 99.1 Press Release, datedOctober 28, 2020 . 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 3
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