8-KOther EventsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Corporate Update (Mar 10, 2015)

Filed March 10, 2015For Securities:A

Summary

Agilent Technologies, Inc. filed a Form 8-K on March 10, 2015, to provide supplemental unaudited financial information for fiscal years 2014 and 2013. This information is presented on a non-GAAP basis and reflects the previously completed spin-off of Keysight Technologies, Inc., with Keysight's results now presented as discontinued operations. The company is offering this non-GAAP data to provide investors with a clearer view of its core ongoing operational performance and future prospects, as management believes this perspective aids in understanding the business "through the eyes of management." The report emphasizes that this non-GAAP information is supplemental and not a substitute for GAAP reporting. It excludes certain items like restructuring and amortization costs that can materially impact reported earnings but are not considered by management for measuring ongoing operational performance. Investors should note that the non-GAAP metrics provided by Agilent may differ from those presented by other companies, and the information furnished in this report is not deemed "filed" for certain regulatory purposes.

Key Highlights

  • 1Agilent Technologies provided unaudited financial data for FY 2014 and 2013 on a non-GAAP basis.
  • 2The financial data reflects the spin-off of Keysight Technologies, Inc., with Keysight now classified as discontinued operations.
  • 3The company aims to offer enhanced transparency into its core operational performance and future prospects via non-GAAP measures.
  • 4Non-GAAP information excludes items such as restructuring and amortization costs.
  • 5Management uses non-GAAP metrics to monitor ongoing operating performance, distinct from GAAP reporting.
  • 6The provided non-GAAP data is supplemental and not intended as an alternative to GAAP.
  • 7The information furnished in this 8-K is not considered "filed" under Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

Agilent is providing non-GAAP financial information to offer investors a more meaningful supplemental view of its operational performance and to enhance the understanding of its core current financial performance and future prospects. Management believes this non-GAAP perspective allows investors to see results "through the eyes of management."

Following the 100% distribution of Keysight Technologies, Inc. common stock to Agilent shareholders, Keysight is no longer a subsidiary. Its related operating results and financial position are reflected in Agilent's consolidated financial statements as discontinued operations.

The non-GAAP financial information excludes items that may have a material effect on earnings calculated in accordance with GAAP, such as restructuring costs and amortization expenses. Management monitors these items but does not use them to measure the ongoing operating performance of Agilent.

No, the non-GAAP financial information provided is not in accordance with, or an alternative for, generally accepted accounting principles in the United States (GAAP). It is supplemental information designed to provide additional insights and may differ from the non-GAAP information provided by other companies.