According to Johnson, the plan to sell part of PNC's stake was aimed at meeting the capital needs under the new Basel III rules for banks that own minority interests in
unconsolidated subsidiaries.
6 million to investments in
unconsolidated subsidiaries and other items.
As a result, income before income taxes and minority interest in
unconsolidated subsidiaries rose 6.
The FASB eliminated the "non-homogeneity exception" used in accounting for
unconsolidated subsidiaries in consolidated financial statements when it issued SFAS 94 in late 1987.
Exposure is cross-border claims one a foreign country that includes deposits with banks, securities, loans, acceptances, and investments in
unconsolidated subsidiaries.
Income before provision for income taxes and equity in earnings of
unconsolidated subsidiariesMoran recalls one company that had formed
unconsolidated subsidiaries and then sent them money as needed.
Consequently, income before taxes, minority interest in
unconsolidated subsidiaries and the cumulative effect of the accounting change was up 11.
Firms with significant
unconsolidated subsidiaries may find their balance sheets drastically changed as the result of the implementation of SFAS 94.
Earnings from
unconsolidated subsidiaries and investees relate to IOT's 10.
8% to $330 million, pretax profits before minority interest, equity in
unconsolidated subsidiaries and the cumulative effect of the aforementioned accounting change advanced 18% to $2.
More disclosure may now be necessary to satisfy this requirement if consolidation of previously
unconsolidated subsidiaries has resulted from the application of FASB Statement no.
