Cumulative Translation Adjustment


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Cumulative Translation Adjustment (CTA) account

An entry in a translated balance sheet in which gains and/or losses from translation have been accumulated over a period of years. The C.T.A. account is required under the FASB No. 52 rule.
References in periodicals archive ?
Accounting problem: Should the deferred taxes on the temporary differences arising from a change in functional currency when an economy ceases to be considered highly inflationary be reflected as an adjustment to the cumulative translation adjustment component of stockholders' equity?
In connection with this decision, the company expects to record pre-tax restructuring and impairment charges totaling approximately $30 million ($20 million after tax) and expects to write off approximately $20 million (after tax) of the company's cumulative translation adjustment related to Bird.
INVESTING ACTIVITIES: Proceeds on sale of fixed assets 100 192 Purchase of fixed assets and intangible assets (4,605) (7,158) Cumulative translation adjustment (2,433) 720 Business acquisition - (7,984)
36,450,115 shares 115,759 119,287 Cumulative translation adjustment 1,021 639 Accumulated deficit (34,839) (38,464) Total shareholders' equity 81,941 81,462 Total liabilities and shareholders' equity $147,808 $146,665
9 million reduction to income relating to a cumulative translation adjustment and a $3.
expenses 727,469 760,989 Cash dividends payable 29,952 23,538 Income taxes payable 102,181 44,373 Total current liabilities 1,157,880 1,219,325 Long-term debt 854,328 818,947 Other liabilities 576,094 371,865 Total non-current liabilities 1,430,422 1,190,812 Common stock 2,499 273,864 Additional paid-in capital 287,153 0 Income reinvested in the business 2,592,416 2,105,144 Common stock held in treasury (1,833) (1,841) Cumulative translation adjustment (73,781) 18,858 Total stockholders' equity 2,806,454 2,396,025 $5,394,756 $4,806,162 SOURCE Illinois Tool Works, Inc.
10 $ 56,677 RENAISSANivable, net 196,190 22,879 6,317 Total current assGoodwill and other intangible assets $ 372,065 $ 373,207 LIs 4,181 4,877kholders' equity: Preferred stock -- -- Common stock 4,725 4,725 Additional paid in capital 181,520 183,762 Notes receivable from stockholders (1,476) (1,500) Retained earnings (deficit) (2,642) 4,794 Cumulative translation adjustment (2,546) (2,546) Total stock: Investor Contacts: Renaissance or Media Contact: ire.
Short-term debt $259,364 $390,425 Accounts payable and accrued expenses 748,490 760,989 Cash dividends payable 29,930 23,538 Income taxes payable 54,602 44,373 Total current liabilities 1,092,386 1,219,325 Long-term debt 765,783 818,947 Other liabilities 364,997 371,865 Total non-current liabilities 1,130,780 1,190,812 Common stock 2,497 273,864 Additional paid-in capital 277,039 0 Income reinvested in the business 2,462,195 2,105,144 Common stock held in treasury (1,833) (1,841) Cumulative translation adjustment (73,923) 18,858 Total stockholders' equity 2,665,975 2,396,025 Total $4,889,141 $4,806,162
The revision is a result of recording $907,000 of foreign currency losses, previously recorded in Other income (expenses), net, as cumulative translation adjustments included in shareholders' equity.
The gain is a result of the reversal of the cumulative translation adjustments account that arose in prior years on translation of the Guilin Tire Company's assets and liabilities into Canadian dollars, less foreign exchange losses on the US dollar denominated receivable for the remaining balance of the sale proceeds.

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