BWA » Topics » Foreign currency

These excerpts taken from the BWA 10-K filed Feb 14, 2008.
Foreign currency The financial statements of foreign subsidiaries are translated to U.S. Dollars using the period-end exchange rate for assets and liabilities and an average exchange rate for each period for revenues, expenses, and capital expenditures.  The local currency is the functional currency for substantially all the Company’s foreign subsidiaries.  Translation adjustments for foreign subsidiaries are recorded as a component of accumulated other comprehensive income in stockholders’ equity.  The Company recognizes transaction gains and losses arising from fluctuations in currency exchange rates on transactions denominated in currencies other than the functional currency in earnings as incurred, except for those transactions which hedge purchase commitments and for those intercompany balances which are designated as long-term investments.  Net income
 
 
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included foreign currency transaction gains of $4.4 million, $1.6 million and $1.3 million in 2007, 2006 and 2005, respectively.

See Note 13 to the Consolidated Financial Statements for more information on other comprehensive income (loss).

Foreign currency The
financial statements of foreign subsidiaries are translated to U.S. Dollars
using the period-end exchange rate for assets and liabilities and an average
exchange rate for each period for revenues, expenses, and capital
expenditures.  The local currency is the functional currency for
substantially all the Company’s foreign subsidiaries.  Translation
adjustments for foreign subsidiaries are recorded as a component of accumulated
other comprehensive income in stockholders’ equity.  The Company
recognizes transaction gains and losses arising from fluctuations in currency
exchange rates on transactions denominated in currencies other than the
functional currency in earnings as incurred, except for those transactions which
hedge purchase commitments and for those intercompany balances which are
designated as long-term investments.  Net income

 



 



28







 



included foreign
currency transaction gains of $4.4 million, $1.6 million and
$1.3 million in 2007, 2006 and 2005, respectively.



See Note 13 to the
Consolidated Financial Statements for more information on other comprehensive
income (loss).



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 14, 2008

"Foreign currency" elsewhere:

Peabody Energy (BTU)
CLARCOR (CLC)
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