Summary
This 8-K filing from Mastercard Inc. on November 3, 2009, primarily serves to announce their third-quarter financial results for the period ending September 30, 2009. The report highlights that the company is providing financial information on both a GAAP and non-GAAP (pro forma) basis. The non-GAAP figures adjust for significant one-time items, specifically litigation settlement charges and a gain from a customer agreement termination, to offer a clearer view of ongoing operational performance. Investors are directed to a press release and a conference call presentation for detailed results and management's discussion. Investors should note that Mastercard's management utilizes these pro forma adjustments to better assess operational trends and performance comparability. While these adjustments aim to provide a more normalized view of the business, it's crucial for investors to also consider the GAAP results and understand the nature and impact of the excluded items, which were material enough to warrant separate disclosure. The filing indicates a focus on underlying business performance despite the impact of these specific events.
Key Highlights
- 1Mastercard announced its third-quarter 2009 financial results on November 3, 2009.
- 2The company is presenting financial results using both GAAP and non-GAAP (pro forma) measures.
- 3Non-GAAP figures exclude litigation settlement charges for Q3 2009 and Q3 2008, and a gain from termination of a customer agreement for Q3 2008.
- 4These exclusions are intended to provide a clearer picture of ongoing operational performance and facilitate period-over-period comparisons.
- 5Management uses these non-GAAP measures for internal planning, forecasting, and performance evaluation.
- 6A press release (Exhibit 99.1) and a conference call presentation (Exhibit 99.2) containing the detailed financial results and discussions are furnished with this filing.