Summary
MasterCard Incorporated filed an 8-K on October 31, 2012, primarily to announce its third-quarter financial results for the period ended September 30, 2012. The report includes a press release detailing these results and a presentation for an upcoming conference call. Investors should note that the company is providing non-GAAP financial measures, which exclude provisions for an incremental amount related to the financial portion of potential litigation settlements. Management uses these adjusted figures to assess ongoing operational performance and make period-to-period comparisons, believing they offer a clearer view of core business activities apart from specific legal contingencies.
Key Highlights
- 1MasterCard announced its third-quarter 2012 financial results on October 31, 2012.
- 2The filing includes a press release (Exhibit 99.1) and a conference call presentation (Exhibit 99.2).
- 3The company is utilizing non-GAAP financial measures, excluding provisions for potential litigation settlements.
- 4These non-GAAP measures are presented to reflect ongoing operational performance and facilitate comparisons.
- 5Management believes excluding litigation-related provisions provides a better understanding of core business performance.
- 6Growth rates adjusted for currency fluctuations are also being presented to provide relevant information.
Frequently Asked Questions
The main purpose of this 8-K filing is to publicly announce MasterCard's financial results for the third quarter ended September 30, 2012, and to furnish related materials such as the press release and conference call presentation.
MasterCard is presenting non-GAAP measures for total operating expenses, operating income, net income, and earnings per share that exclude provisions for an incremental amount related to potential litigation settlements. These are provided because management believes they offer a clearer view of ongoing operational performance and facilitate meaningful comparisons between periods, separate from the impact of significant legal contingencies.
MasterCard is presenting growth rates adjusted for currency to provide investors with a clearer understanding of the company's performance, as foreign currency fluctuations can significantly impact reported results. These adjusted rates help investors evaluate the underlying operational growth.
No, this 8-K filing primarily contains furnished information in the form of a press release and a presentation. The detailed financial results and the company's treatment of non-GAAP measures would be found within the press release (Exhibit 99.1) and elaborated upon in the conference call presentation (Exhibit 99.2).