This chapter investigates different metrics for defining and reporting on local content, and contrasts each for their accuracy, comprehensiveness and ease of administration. It begins laying to rest a few myths about local content reporting. The most obvious myth associated with reporting local content is the presumption that the higher the level of local content recorded the better. The question here is 'better for whom'? In practice, higher levels of local content may well have an impact on the interests of other stakeholders. The chapter demonstrates that the choice of metrics for measuring and reporting local content in oil, gas and mining expenditure is large and the potential ambiguities involved in their application many. To illustrate, it seems likely that, in Kazakhstan, application of the current formula for reporting local content in the purchase of goods of domestic origin (which requires a certificate proving such origin) will lead to a fall in the reported levels.