GAAP
Noun
Meaning
a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures
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Accordingly, the Company is unable to provide reconciliations from GAAP to non-GAAP for non-GAAP adjusted net income without unreasonable effort.
Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States, or GAAP.
Adjusted EBITDA is a Non-GAAP financial measure and is described and reconciled to the closest GAAP measure in the attached tables at the end of this release.
A reconciliation of GAAP to non-GAAP results is included in the tables on the following pages.
As required by SEC rules, detailed reconciliations between the company’s GAAP and non-GAAP financial results are provided on the attached schedule.
CONCLUSION: A dollar of GAAP earnings at RCL seems to be less than a dollar of earnings at CUK/NCLH.