In Narrative and Analytical Procedures reports, how is the "Distance from Industry" calculated? What does it signify?

To calculate: Take the difference between the company's current period number for a metric and the number it is closest to in the industry range. Divide the difference by the industry number and multiply by 100 to calculate a percentage.

Example:

Financial Indicator	Current	Industry	Distance from Industry
Current Ratio	3.32	1.40 to 2.00	+66.00%

3.32 - 2.00 = 1.32
1.32 / 2.00 = 0.66
0.66 * 100 = 66.00%

Distance from Industry = +66.00%

The plus sign (+) signifies a positive result - the company is doing BETTER than average for this metric. The minus sign (-) signifies a negative result - the company is doing WORSE than average for this metric.

So, in this case, the company's current ratio is 66% better than the average in its industry.