Is the intention of the NoContraction decoration to never fuse any two operations or to never fuse any two operations that would otherwise alter the result?

From the spec:

NoContraction
Apply to an arithmetic instruction to indicate the
operation cannot be combined with another
instruction to form a single operation. For
example, if applied to an OpFMul, that multiply
canít be combined with an addition to yield a
fused multiply-add operation. Furthermore, such
operations are not allowed to reassociate; e.g.,
add(a + add(b+c)) cannot be transformed to
add(add(a+b) + c).

I read this as 'never fuse any two operations, period' but we'd like to be sure.

Thanks.