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Anixter International (AXE)
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AXE » Topics » Note A - Basis of Presentation

This excerpt taken from the AXE 10-K filed Feb 23, 2007.
Note A — Basis of Presentation
 
In the parent company condensed financial statements, the Company’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. The Company’s share of net income of its unconsolidated subsidiaries is included in consolidated income using the equity method. The parent company financial statements should be read in conjunction with the Company’s consolidated financial statements.


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ANIXTER INTERNATIONAL INC.
 

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