What is Adjustment close in yahoo financial Data

What is the adjusted close?
                  
                  The historical prices feature includes notations for all splits and dividend distributions during the date range selected in the yahoo finance(URL : http://finance.yahoo.com). Open, high, low, and close values are not adjusted for splits or dividends. An additional column, Adjusted Close, is provided in the same page forthe close price adjusted for all splits and dividends.




Example: Adjusted Close Calculations

    2/13/03 Close = 46.99
    2/14/03 Close = 48.30
    2/18/03 Split = 2:1
    2/18/03 Close = 24.96
    2/19/03 Cash Dividend = 0.08 (ex-date)
    2/19/03 Close = 24.53

    Split Multiplier = 0.5
    Dividend Multiplier = 1 - (0.08/24.96) = 0.9968

    2/13/03 Adj. Close = 0.5 * 0.9968 * 46.99 = 23.42
    2/14/03 Adj. Close = 0.5 * 0.9968 * 48.30 = 24.07
    2/18/03 Adj. Close = 0.9968 * 24.96 = 24.88
    2/19/03 Adj. Close = 24.53


                     For Technical analysis we are taking the Adjusted close value.