Everyone has heard this term thrown around, and most people, I would imagine, have a conceptual idea of the meaning. I, myself, am in that latter group. However, I feel that the definition Google/Wikipedia has provided me isn't great.
Code refactoring is the process of restructuring existing computer code – changing the factoring – without changing its external behavior. Refactoring improves nonfunctional attributes of the software.
I guess I'd like a technical definition of what is and isn't considered "Refactoring" (not a definition for non-technical people). Amending code to improve performance? Improving extensibility? There's almost certainly a grey area here, but any further clarity would be much appreciated.