Regulation G and Item 10(e): non-GAAP measures, reconciliations, and adjustment rationale

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Staff questions whether non-GAAP measures are presented and reconciled appropriately, including required GAAP comparators and exclusions of potentially recurring operating costs. Rockwell Automation and Maximus face presentation and reconciliation questions, while Albany International is asked to justify excluding a material contract reserve and related adjustments. These comments bear on whether investors can compare non-GAAP performance measures with GAAP results and understand the adjustments.

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