Q3 2020 Copart Inc Earnings Call Transcript
Good day, and welcome to the Copart Conference Call. At this time. I would like to turn the conference over to Jeff Liaw, President of Copart. Please go ahead, sir.
Thank you, Dan. I'll start today's call with the safe harbor before turning it over to Jay for opening remarks. During today's call, we'll discuss certain non-GAAP measures, which include adjustments to reverse the certain discrete income tax items, disposal of nonoperating assets, foreign currency-related gains and losses, certain tax benefits and payroll taxes related to accounting for stock option exercises. And the effect on common equipment from ASU 2016-09. We've provided a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures on our website under the Investor Relations link and in our press release issued yesterday. We believe these non-GAAP measures, together with our corresponding GAAP measures, are relevant in assessing our business trends and performance. We analyze our results on both GAAP and
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