Finally, the company said it will file a Form 8-K in conjunction with the sale that includes pro forma financial statements
The amended preliminary proxy statement includes a minor adjustment to harmonize GE Transportation's historical financial information with Wabtec's revenue recognition accounting policies for the purpose of the preparation of required pro forma financial statements
. This harmonization is expected to result in a $63M decrease in forecasted combined consolidated net revenue and EBIT in 2019, with no material effect in future years.
On May 2, 2017, Sherwin-Williams filed a Current Report on Form 8-K containing unaudited 2016 pro forma financial statements
reflecting the acquisition of Valspar.
MetLife expects to file pro forma financial statements
on Form 8-K with the US Securities and Exchange Commission in connection with the spin-off.
Of course, Pro Forma Financial Statements
also provide other important benefits.
The plan must include a quarterly timetable of steps to make that happen, the projected amount of earnings to be transferred to the regular reserve each quarter, any new services to be provided and pro forma financial statements
that include any off-balance sheet items.
Additionally, the team is responsible for determining the financial reporting impact of the transaction (such as whether the divestiture can be reported as a discontinued operation) and developing pro forma financial statements
to present the business being sold as if it were a stand-alone entity, a particularly important step in the selling process.
Had Lyondell owned 100 percent of the refinery for the first six months of 2006, and had the new crude oil contract been in place, the company's unaudited pro forma financial statements
indicate that pro forma net income would have increased from $450 million to $640 million, or $1.74 to $2.47 per share on a fully diluted basis.
Accordingly, thought must be given as to how the executives can provide the relevant certifications, particularly in the acquirer's first post-closing SEC periodic report (a current report on Form 8-K, even one with target or pro forma financial statements
, need not be certified).
* Given the above, serious investment analyses, including the creation of realistic sales development plans and pro forma financial statements
, are essential prerequisites for investment decisions.
Pro Forma Financial Statements
and Accounting for Goodwill