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There is no prescribed format for preparing parent company financial statements other than as described in Regulation S-X Rule 12-04. SEC registrants preparing parent company financial statements should follow these requirements unless another format is specified by a legal agreement or other special requirement.
Regulation S-X Rule 12-04 states that this financial information need not be presented in greater detail than what is required for interim condensed statements by Regulation S-X Rule 10-01 as it relates to the balance sheet, income statement, and statement of cash flows (see FSP 29.3). The presentation of earnings per share, while permitted, is not required in parent company financial statements. The condensed financial information should also include a total for comprehensive income presented in either a single continuous statement or in two separate but consecutive statements.

31.3.1 Parent company financial statements footnote disclosures

Parent company financial statements should include a statement in the footnotes explaining the fact that they are not the general-purpose financial statements of the reporting entity. In rare instances where parent company financial statements are presented without accompanying consolidated financial statements (e.g., prepared for limited distribution in accordance with requirements of a contractual agreement), the footnotes should indicate that the financial statements are not presented in accordance with US GAAP.
If parent company financial statements are included within the same SEC filing as the consolidated financial statements, detailed footnote disclosures are not required. However, disclosures of material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks, and guarantees of the parent, including a five-year schedule of debt maturities, are always required. If the required disclosures are already provided in the consolidated financial statements, the footnotes may cross-reference to the related disclosures and they need not be repeated in the parent company financial statements.
Figure FSP 31-1 illustrates how parent company financial statements can reference information in the consolidated financial statements.
Figure FSP 31-1

Sample disclosure — basis of presentation
Basis of Presentation. The parent company financial statements [information] should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes thereto. For purposes of these [this] condensed financial statements [information], the Company’s wholly owned and majority owned subsidiaries are recorded based upon its proportionate share of the subsidiaries’ net assets (similar to presenting them on the equity method).

Additional footnotes to parent company information may be required to supplement the disclosures in the consolidated financial statements. In addition, Regulation S-X Rule 12-04 requires SEC registrants to disclose separately the amounts of cash dividends paid to the parent for each of the last three fiscal years by consolidated subsidiaries, unconsolidated subsidiaries, and 50% or less owned persons accounted for by the equity method. The disclosure of dividends paid may be made either within the footnotes or on the face of the statement of cash flows, if clearly labeled.
Parent company financial statements should include disclosure of any guarantees issued between a parent and its subsidiaries (e.g., parent guarantees debt between sister entities) under ASC 460. In addition, if a subsidiary guarantees the parent’s third party debt, or if the parent guarantees a subsidiaries’ third party debt, the guarantee should be disclosed in the parent company financial statements. See Example FSP 23-2 in FSP 23 for an intercompany guarantee disclosure example.
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