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A public reporting entity should state on the face of the balance sheet the following for each issue of redeemable preferred stock in accordance with S-X 5-02 (27).
  • Title
  • Carrying amount
  • Redemption amount
  • Dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable
  • The number of shares authorized and the number of shares issued or outstanding for each issue (either on the face of the balance sheet or in the footnotes)
If a reporting entity has multiple issues of such instruments outstanding, it may combine the amounts on the face of the balance sheet if appropriate disclosure is included in the footnotes.
Mandatorily redeemable
ASC 480-10-25-4 requires reporting entities to present mandatorily redeemable preferred stock that does not contain a conversion option as a liability on the balance sheet. Financial instruments in the scope of ASC 480 should be presented as liabilities on the balance sheet, and not as items in the mezzanine section (i.e., not between the liabilities section and the equity section in the balance sheet).
ASC 480-10-45-2 addresses the presentation of payments to holders of such instruments (e.g., dividends on the "equity" shares) as well as the presentation by entities that do not have other "equity" instruments.

ASC 480-10-45-2

Entities that have no equity instruments outstanding but have financial instruments issued in the form of shares, all of which are mandatorily redeemable financial instruments required to be classified as liabilities, shall describe those instruments as shares subject to mandatory redemption in statements of financial position to distinguish those instruments from other liabilities. Similarly, payments to holders of such instruments and related accruals shall be presented separately from payments to and interest due to other creditors in statements of cash flows and income.

Redeemable outside control of the issuer
Public companies are required to present contingently redeemable preferred stock (i.e., redeemable upon the occurrence of an event outside the control of the issuer) and preferred stock that is redeemable at the option of the holder, in mezzanine equity. Mezzanine equity is presented after liabilities and before stockholders' equity on the balance sheet. The purpose of this classification is to convey to the reader that such a security may not be permanently part of equity and could result in a demand for cash or other assets of the entity in the future.
Reporting entities should present redeemable securities that are classified as mezzanine equity separate from stockholders’ equity accounts that are classified as permanent equity (e.g., non-redeemable preferred, common stock, and retained earnings). ASR 268 specifically prohibits the use of the term “stockholders’ equity” as a caption to present the combined total of all equity securities and redeemable preferred stock.
The SEC has stated that it will not accept liability classification for redeemable instruments that do not meet the requirements for liability classification in ASC 480. These instruments should be classified as mezzanine equity based on the guidance in ASC 480-10-S99.
Private companies are not required to present contingently redeemable preferred stock in mezzanine equity. However, mezzanine equity classification is strongly encouraged for private companies, especially in those circumstances when there is not a high likelihood that the capital is in fact permanent (e.g., when preferred stock is redeemable at the option of the holder at any time). On the other hand, use of a mezzanine presentation may be considered less relevant in other circumstances, such as when preferred stock is redeemable by the holder only upon a remote event. If a private company does not elect mezzanine presentation, it should consider separate presentation from other items within equity. Regardless of whether a nonpublic entity adopts the mezzanine equity presentation, ASC 505-10-50-11 requires specific disclosures for redeemable securities. Refer to FSP for further information.

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