Accenture plc (NYSE:ACN) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
On March28, 2019, Accenture plc (“Accenture”) issued a news release announcing financial results for its second quarter of fiscal 2019, which ended on February28, 2019.
A copy of the news release is attached hereto as Exhibit99. All information in the news release is furnished but not filed.
Non-GAAP Financial Information
In the attached news release Accenture discloses the following non-GAAP financial measures:
Free cash flow (defined as operating cash flow net of property and equipment additions). Accenture’s management believes that this information provides meaningful additional information regarding the company’s liquidity.
Percentage changes in revenues on a local currency basis. Financial results in local currency are calculated by restating current period activity into U.S. dollars using the comparable prior year period’s foreign currency exchange rates. This approach is used for all results where the functional currency is not the U.S. dollar. Accenture’s management believes that information regarding changes in its revenues that excludes the effect of fluctuations in foreign currency exchange rates facilitates meaningful comparison of its revenues.
Diluted earnings per share, effective tax rate, net income and provision for income taxes excluding a charge in the second quarter of fiscal 2018 associated with the enactment of the U.S. Tax Cuts and Jobs Act (the “Tax Act”). Accenture’s management believes that information regarding the effect of the Tax Act on diluted earnings per share, effective tax rate, net income and provision for income taxes facilitates an understanding as to the impact of the charge and the company’s financial performance.
Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in the news release. While Accenture’s management believes that this non-GAAP financial information is useful in evaluating Accenture’s operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.
Item 2.02 Financial Statements and Exhibits
News Release of Accenture, dated March 28, 2019
Accenture plc Exhibit
EX-99 2 fy19q2earnings8-kexhibit.htm NEWS RELEASE OF ACCENTURE,…
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About Accenture plc (NYSE:ACN)
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources. The Communications, Media & Technology segment serves communications, electronics, technology, media and entertainment industries. The Financial Services segment serves banking, capital markets and insurance industries. The Health & Public service segment serves healthcare payers and providers, and government departments and agencies, public service organizations, educational institutions and non-profit organizations. The Products segment serves a set of interconnected consumer-relevant industries. The Resources segment serves chemicals, energy, forest products, metals and mining, utilities and related industries.