Summary
This 8-K filing by Certegy Inc., dated April 4, 2003, primarily concerns the furnishing of its 2002 Annual Report to Shareholders, specifically pages 8 and 10, as Exhibit 99.1. These pages contain five-year financial data, including bar charts illustrating non-GAAP financial measures such as operating income excluding certain charges and EBITDA. Certegy's management believes these non-GAAP metrics provide a more meaningful comparison of core operating results and financial condition over time, particularly given the company's spin-off from Equifax Inc. in 2001. Investors should note that while these non-GAAP measures are presented for comparative purposes, the filing explicitly states that this information is furnished, not filed, and therefore not subject to the same liability provisions as formally filed documents. The focus of this report is on providing supplementary financial data that management deems useful for understanding the company's performance trends.
Key Highlights
- 1Certegy Inc. furnished its 2002 Annual Report to Shareholders, specifically pages 8 and 10, as Exhibit 99.1 to this 8-K filing.
- 2The furnished pages include five-year bar charts of financial data.
- 3Two of the bar charts present non-GAAP financial measures: operating income excluding severance, other charges, and other non-GAAP adjustments, and EBITDA.
- 4A reconciliation of these non-GAAP measures to the most comparable GAAP measure (operating income) is provided in a footnote.
- 5Management believes these non-GAAP measures offer a more consistent and meaningful evaluation of core operating results and financial condition over time.
- 6The non-GAAP presentation is considered particularly useful for comparing performance over the five-year period, encompassing the period before Certegy's spin-off from Equifax Inc. in 2001.
- 7The information furnished is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934.