It boggles my mind that this is written off as acceptable, just another way of looking at the results. I own a business. I understand its accounting. Turning a $700m loss into a $400m profit is a $1.1b lie.

Edit: if you'd like to put recurring profits and expenses on a sheet and show it to me, fine. But if you omit one-off expenses when representing your financial position (and let's be honest, there are always one-offs) you've fraudulently represented yourself.