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The SEC also pushed moneylosing Groupon to remove from its offering document a non-GAAP metric it had invented called adjusted consolidated segment operating income. Whats that?
Consolidated segment operating income, a closely watched measure of Groupon's profitability, came in at $51.2 million in the latest period.
In a particularly egregious example that this column documented last year, Groupon created a ridiculously misleading accounting metric known as Adjusted Consolidated Segment Operating Income that included all sorts of income, but excluded marketing costs.
It was a made up metric called Adjusted Consolidated Segment Operating Income that accounted for the company's operating income but conveniently excluded several major expenses, including marketing and acquisition-related costs.
As expected, the company stopped referring to a measurement called Adjusted Consolidated Segment Operating Income (ACSOI), a metric that excludes marketing costs as well as stock-based compensation and acquisition-related items.
Nor do they affect the company's preferred business performance metrics, including a pro forma measure known as consolidated segment operating income.
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International channels, as the new segment's name implies, will be consolidated in this segment, too.
The Corporate Banking segment consolidates corporate and medium customer's demand accounts, deposits, overdrafts, loans, and other credit facilities and derivative products.
A 1 MHz probe mounted in the near-bed region of the thickener was used to measure consolidated bed build-up and segmented density changes from the signal decay.
The Portugal Manufacturing segment includes the joint-venture with Unilever, consolidated by the proportional Method.
Over the same period, the Chinese Communist Party consolidated its monopolistic control of politics and kept large segments of the economy under its administration.
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