McGraw Hill reported fourth quarter earnings Tuesday morning, with an abundance of measures of adjusted, diluted, continuing operations that seem designed to conjure victory from accounting and confuse reporters. The big excluded items are a $66 million restructuring charge related to severance for about 800 employees laid off during the quarter and another $10 million in “one-time separation expenses necessary to complete” the plan to split the company in half by the end of the new year. Adjusted net income from continuing operations–the measure Wall Street will look to, apparently (and one that excludes the $76 million in charges)–was $184 million, up […]
