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Excerpt from ASC 280-10-50-21
A public entity shall disclose the following general information:
Excerpt from ASC 280-10-50-22
A public entity shall report a measure of profit or loss and total assets for each reportable segment. A public entity also shall disclose all of the following about each reportable segment if the specified amounts are included in the measure of segment profit or loss reviewed by the chief operating decision maker or are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss:
Disclosure of interest revenue and interest expense included in reported segment profit or loss is intended to provide information about the financing activities of a segment.
If a segment is primarily a financial operation, interest revenue probably constitutes most of segment revenues and interest expense will constitute most of the difference between reported segment revenues and reported segment profit or loss. If the segment has no financial operations or only immaterial financial operations, no information about interest is required.
Excerpt from ASC 280-10-50-25
A public entity shall disclose both of the following about each reportable segment if the specified amounts are included in the determination of segment assets reviewed by the chief operating decision maker or are otherwise regularly provided to the chief operating decision maker, even if not included in the determination of segment assets:
Excerpt from ASC 280-10-50-29
A public entity shall provide an explanation of the measurements of segment profit or loss and segment assets for each reportable segment. At a minimum, a public entity shall disclose all of the following:
Excerpt from ASC 280-10-50-30 and ASC 280-10-50-31
A public entity shall provide reconciliations of all of the following:
Reportable segment 1 EBITDA |
$200 |
Reportable segment 2 EBITDA |
150 |
Reportable segment 3 EBITDA |
100 |
Subtotal reportable segments |
450 |
Unallocated corporate overhead |
(50) |
Unallocated pension expense |
(20) |
Consolidated EBITDA |
$380 |
Depreciation and amortization |
(30) |
Interest |
(50) |
Consolidated pretax income |
$300 |
A public entity shall report the revenues from external customers for each product and service or each group of similar products and services unless it is impracticable to do so. The amounts of revenues reported shall be based on the financial information used to produce the public entity’s general-purpose financial statements. If providing the information is impracticable, that fact shall be disclosed.
Excerpt from ASC 280-10-50-41
A public entity shall report the following geographic information unless it is impracticable to do so:
Excerpt from ASC 280-10-50-42
A public entity shall provide information about the extent of its reliance on its major customers. If revenues from transactions with a single external customer amount to 10 percent or more of a public entity’s revenues, the public entity shall disclose that fact, the total amount of revenues from each such customer, and the identity of the segment or segments reporting the revenues. The public entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For purposes of this Subtopic, a group of entities known to a reporting public entity to be under common control shall be considered as a single customer, and the federal government, a state government, a local government (for example, a county or municipality), or a foreign government each shall be considered as a single customer.
A public entity shall disclose all of the following about each reportable segment in condensed financial statements of interim periods:
Interim disclosures are required for the current quarter and year-to-date amounts. Paragraph 270-10-50-1 states that when summarized financial data are regularly reported on a quarterly basis, the information in the previous paragraph with respect to the current quarter and the current year-to-date or the last 12 months to date should be furnished together with comparable data for the preceding year.
Although restatement is not required to reflect a change in measurement of segment profit and loss, it is preferable to show all segment information on a comparable basis to the extent it is practicable to do so. If prior years’ information is not restated, paragraph 280-10-50-29(d) nonetheless requires disclosure of the nature of any changes from prior periods in the measurement methods used to determine reported segment profit or loss and the effect, if any, of those changes on the measure of segment profit or loss.
If a public entity has changed the structure of its internal organization in a manner that causes the composition of its reportable segments to change and if segment information for earlier periods, including interim periods, is not restated to reflect the change, the public entity shall disclose in the year in which the change occurs segment information for the current period under both the old basis and the new basis of segmentation unless it is impracticable to do so.
LUGGAGE AMERICAS DIVISION Information reported as of and for the year ended December 31, 20X2 ($ in thousands) |
|||||
Brand A |
Brand B |
Brand C |
Brand D |
Division total |
|
Sales |
$420 |
$220 |
$180 |
$100 |
$920 |
Gross margin |
$126 |
$69 |
$57 |
$32 |
$284 |
Percentage of sales |
30% |
31% |
32% |
32% |
|
EBITDA |
$80 |
$40 |
$32 |
$18 |
$170 |
EBITDA margin |
19% |
18% |
18% |
18% |
|
Working capital |
$200 |
$200 |
$150 |
$60 |
$610 |
OTHER ACCESSORIES AMERICAS DIVISION Information reported as of and for the year ended December 31, 20X2 ($ in thousands) |
|||||
Handbags |
Briefcases |
Sports bags |
Storage cases |
Division total |
|
Sales |
$100 |
$80 |
$75 |
$75 |
$330 |
Gross margin |
$41 |
$31 |
$29 |
$19 |
$120 |
Percentage of sales |
41% |
39% |
39% |
25% |
|
EBITDA |
$25 |
$20 |
$20 |
$15 |
$80 |
EBITDA margin |
25% |
25% |
27% |
20% |
|
Working capital |
$20 |
$20 |
$15 |
$15 |
$70 |
INTERNATIONAL DIVISION Information reported as of and for the year ended December 31, 20X2 ($ in thousands) |
|||||
Brand A Europe |
Other Luggage Europe |
Other Europe |
Asia |
Division total |
|
Sales |
$300 |
$160 |
$100 |
$50 |
$610 |
Gross margin |
$93 |
$51 |
$20 |
$7 |
$171 |
Percentage of sales |
31% |
32% |
20% |
14% |
|
EBITDA |
$60 |
$33 |
$15 |
$6 |
$114 |
EBITDA margin |
20% |
21% |
15% |
12% |
|
Working capital |
$150 |
$60 |
$20 |
$10 |
$240 |
CONSOLIDATED Information reported as of and for the year ended December 31, 20X2 ($ in thousands) |
|||
Total divisions before eliminations |
Eliminations |
Consolidated |
|
Sales |
$1,860 |
$(60) |
$1,800 |
Gross margin |
$575 |
$(10) |
$565 |
Percentage of sales |
31% |
17% |
31% |
EBITDA |
$364 |
$(10) |
$354 |
Working capital |
$920 |
$920 |
($ in thousands) |
Luggage Americas |
Luggage Europe |
Handbags |
Briefcases |
Sports bags |
Storage cases |
Other Europe |
Asia |
Total |
External sales |
$860 |
$460 |
$100 |
$80 |
$75 |
$75 |
$100 |
$50 |
$1,800 |
Total sales, excluding eliminations |
$920 |
$460 |
$100 |
$80 |
$75 |
$75 |
$100 |
$50 |
$1,860 |
Percentages |
|||||||||
External sales |
48% |
26% |
5.5% |
4% |
4% |
4% |
5.5% |
3% |
100% |
Total sales, excluding eliminations |
49% |
25% |
5.5% |
4% |
4% |
4% |
5.5% |
3% |
100% |
($ in thousands) |
Luggage Americas |
Luggage Europe |
Handbags |
Briefcases |
Sports bags |
Storage cases |
Other Europe |
Asia |
Total |
EBITDA |
$170 |
$93 |
$25 |
$20 |
$20 |
$15 |
$15 |
$6 |
$364 |
Percentage |
47% |
26% |
7% |
5% |
5% |
4% |
4% |
2% |
100% |
($ in thousands) |
|||||
Luggage Americas |
Luggage Europe |
Other accessories |
All other |
Total |
|
Sales |
$920 |
$460 |
$255 |
$225 |
$1,860 |
EBITDA |
$170 |
$93 |
$65 |
$36 |
$364 |
($ in thousands) |
|||||
Luggage Americas |
Luggage Europe |
Other accessories |
All other |
Total |
|
Sales |
$885 |
$425 |
$230 |
$202 |
$1,742 |
EBITDA |
$164 |
$86 |
$58 |
$32 |
$340 |
Sales |
||
---|---|---|
($ in thousands) |
20X2 |
20X1 |
Total segment sales |
$1,860 |
$1,742 |
Elimination of intersegment revenue |
(60) |
(40) |
Consolidated sales |
$1,800 |
$1,702 |
EBITDA |
20X2 |
20X1 |
Total segment EBITDA |
$364 |
$340 |
Depreciation and amortization |
(50) |
(45) |
Intersegment profit |
(15) |
(11) |
Interest |
(80) |
(70) |
Consolidated income before income taxes |
$219 |
$214 |
Sales |
|||
($ in thousands) |
20X2 |
20X1 |
|
United States |
$1,260 |
$1,191 |
|
Germany |
177 |
170 |
|
Italy |
180 |
175 |
|
All Other Foreign |
183 |
166 |
|
$1,800 |
$1,702 |
||
Long-lived Assets |
|||
($ in thousands) |
20X2 |
20X1 |
|
United States |
$1,090 |
$1,035 |
|
Foreign |
260 |
245 |
|
$1,350 |
$1,280 |
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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