MOLX » Topics » Noncontrolling Interests

These excerpts taken from the MOLX 10-K filed Aug 6, 2008.
Noncontrolling Interests
 
In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51. SFAS No. 160 requires identification and presentation of ownership interests in subsidiaries held by parties other than us in the consolidated financial statements within the equity section but separate from the equity. It also requires that (1) the amount of consolidated net income attributable to the parent and to the noncontrolling interest be clearly identified and presented on the face of the consolidated statement of income, (2) changes in ownership interest be accounted for similarly, as equity transactions, and (3) when a subsidiary is deconsolidated, any retained noncontrolling equity investment in the former subsidiary and the gain or loss on the deconsolidation of the subsidiary be measured at fair value. This statement is effective for us on July 1, 2009. We are currently evaluating the requirements of SFAS No. 160 but do not expect it to have a material impact on our financial statements.
 
Noncontrolling
Interests



 



In December 2007, the FASB issued SFAS No. 160,
Noncontrolling Interests in Consolidated Financial
Statements — an amendment of ARB No. 51.
SFAS No. 160 requires identification and presentation
of ownership interests in subsidiaries held by parties other
than us in the consolidated financial statements within the
equity section but separate from the equity. It also requires
that (1) the amount of consolidated net income attributable
to the parent and to the noncontrolling interest be clearly
identified and presented on the face of the consolidated
statement of income, (2) changes in ownership interest be
accounted for similarly, as equity transactions, and
(3) when a subsidiary is deconsolidated, any retained
noncontrolling equity investment in the former subsidiary and
the gain or loss on the deconsolidation of the subsidiary be
measured at fair value. This statement is effective for us on
July 1, 2009. We are currently evaluating the requirements
of SFAS No. 160 but do not expect it to have a
material impact on our financial statements.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Aug 6, 2008

"Noncontrolling Interests" elsewhere:

Amphenol (APH)
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