Net losses (operating income less debt payments and non-cash charges such as depreciation) for the parent company were likely much greater than operating losses some years as the team was investing heavily in its regional sports channel, YES Network.
Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our "recurring core business operating results, " meaning our operating performance excluding not only non-cash charges, such as SBC, but also discrete cash charges that are infrequent in nature.
Non-GAAP operating income and non-GAAP operating margin exclude stock-based compensation (SBC) expense, as well as restructuring and related charges recorded in our Motorola Mobile business.