Exercises x Brl

8/12/2019 Exercises x Brl

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DISCLOSURE FOR THE FIRST QUARTER ENDED MARCH 31, 2012

1. Debt

At March 31, 2012 and December 31, 2011, we had the following unsecured long-term debt

outstanding (in thousands): March 31, December 31,

2012 2011 Unsecured intermediate debt issued August 15, 2002:

Series C, due August 15, 2012, 6.46% $ 75,000 $ 75,000 Series D, due August 15, 2014, 6.56% 75,000 75,000

Unsecured senior notes issued July 21, 2009: Due July 21, 2012, 6.10% 40,000 40,000 Due July 21, 2013, 6.10% 40,000 40,000 Due July 21, 2014, 6.10% 40,000 40,000 Due July 21, 2015, 6.10% 40,000 40,000 Due July 21, 2016, 6.10% 40,000 40,000

$ 350,000 $ 350,000 Less long-term debt due within one year 115,000 115,000 Long-term debt $ 235,000 $ 235,000

The intermediate unsecured debt outstanding at March 31, 2012 matures over a period fromAugust 2012 to August 2014 and carries a weighted-average interest rate of 6.53 percent, which is paidsemi-annually. The terms require that we maintain a ratio of debt to total capitalization of less than 55

percent.

We have $200 million senior unsecured fixed-rate notes that mature over a period from July 2012 toJuly 2016. Interest on the notes is paid semi-annually based on an annual rate of 6.10 percent. Wewill make five equal annual principal repayments starting on July 21, 2012. Financial covenantsrequire us to maintain an interest coverage ratio of not less than 2.50 to 1.00.

During the quarter ended March 31, 2012, we funded two collateral trusts. The two collateral trusts areclassified as restricted cash and are included in prepaid expense and other in the ConsolidatedCondensed Balance Sheet at March 31, 2012.

At March 31, 2012, aggregate maturities of long-term debt are as follows (in thousands):

Years ending March 31,2013 $ 115,000 2014 40,000 2015 115,000 2016 40,000 2017 40,000

$ 350,000

2Copyright 2012 XBRL US, Inc. All rights reserved. XBRL US is the national consortium of xml business reporting standards


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US GAAP Taxonomy for Debt Disclosure Exercise



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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,

D=Domain; DM= Domain

Member; L=Line Item)



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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Solution: Debt Footnote



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Modeling / Tag Selection ExerciseAcquisition Footnote

Exercise Steps

1. Read the footnote

2. Determine what needs to be tagged for Level 4 tagging

3. Select appropriate elements from attached US GAAP Taxonomy Excerpt, including any dimensions orextension elements

4. Discuss any mapping issues/challenges within small group

5. If time permits, for elements selected, list the elements in the proper tree structure for the companystaxonomy (show the sequence and parent-child relationships)

Questions to Consider:

1. Which facts reported in the footnote need to tagged?

2. What approach would you use to report the two acquisitions would you extend or would youdimensionalize?

3. Are there any unique disclosures here that would require the creation of extensions?

Note 3 Business Acquisitions

During FY 2011, the Company acquired 2 businesses.

Effective March 1, 2011 the Company purchased 85.6% of the outstanding shares of ABC Company for$35 million to gain entrance into the market for Blue Smurf Plush toys. The acquisition is not expected bematerial to the Company results in the current fiscal year. For the prior full fiscal year, the acquired

business reported sales of $27 million.

Effective November 15, 2011, the Company purchased 100% of the outstanding shares of XYZCompany. At the time of the acquisition, the purchase price was approximately US $182 million. Theacquisition included a cash payment to the seller of $49 million on that date. The results of XYZCompany have been consolidated into our financials from the date of the acquisition. For the prior fullfiscal year, the acquired business reported sales of $91 million.



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2

US GAAP Taxonomy for Segment Reporting Disclosure

NOTEFor this exercise, we are unable to include other element attributes such as item/data type,documentation label, references, and many other element relationships. However, when selectingelements for SEC filings users should not rely solely on element names or standard labels, andshould consider these other attributes with an emphasis on the item/data type, documentationlabel, and references.

Excerpt from 2012 US GAAP Taxonomy - Business Combinations Disclosure (Part 1 )



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3

Excerpt from 2012 US GAAP Taxonomy with Business Combinations Disclosure (Part 2 )



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4

Excerpt from 2012 US GAAP Taxonomy with Business Combinations Disclosure (Part 3 )



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5

Excerpt from 2012 US GAAP Taxonomy - Statement of Cash Flows



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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Modeling / Tag Selection ExerciseAcquisition Footnote

Exercise Steps







1. Which facts reported in the footnote need to tagged?

2. What approach would you use to report the two acquisitions would you extend or would youdimensionalize?

3. Are there any unique disclosures here that would require the creation of extensions?



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2

Note 3 Business Acquisitions

During FY 2011, the Company acquired 2 businesses.

Effective March 1, 2011 the Company purchased 85.6% of the outstanding shares of ABC Company for$35 million to gain entrance into the market for Blue Smurf Plush toys. The acquisition is not expected bematerial to the Company results in the current fiscal year. For the prior full fiscal year, the acquired

business reported sales of $27 millon.

Effective November 15, 2011, the Company purchased 100% of the outstanding shares of XYZCompany. At the time of the acquisition, the purchase price was approximately US $182 million. Theacquisition included a cash payment to the seller of $49 million on that date. The results of XYZCompany have been consolidated into our financials from the date of the acquisition. For the prior fullfiscal year, the acquired business reported sales of $91 million.

Note 3 Business Acquisitions - Solution

Business Acquisition [Axis]

BusinessAcquisition,Acquiree[Domain]

ABCCompany[Member]

ABCCompany[Member]

XYZCompany[Member]

XYZ Company[Member]

USD USD

NumberofBusinessesAcquired 2

BusinessAcquisitionCostOfAcquiredEntityPurchase Price 35,000,000 182,000,000

BusinessAcquisitionPercentageOfVoting InterestsAcquired 0.856 1

BusinessAcquisitionCostOfAcquiredEntityCashPaid 49,000,000

BusinessAcquisitionRevenueReportedbyAcquiredEntityForLastAnnualPeriod 27,000,000 91,000,000



21/64

Modeling / Tag Selection ExerciseSegment Reporting

Exercise Steps







1. XYZ Company and B Corp had two presentations for segment revenues reporting. From modeling prospective, what is the difference and similarity between these two orientations?

2. What is your modeling choice to tag intersegment elimination?

XYZ COMPANY

OTE 1 Segment Information

he Company classifies its business interests into three reportable segments which are Segment Q, Segment R and Segment T.

Externalsales andrevenues

Inter-segmentsales &

revenues

Total salesand

revenues

Depreciationand

amortizationSegment

profit (loss)

Segmentassets at

December 31Cap

expend(In millions)

Segment Q $ 19,667 $ 575 $ 20,242 $ 526 $ 2,056 $ 7,942 $ 9Segment R 15,629 1,162 16,791 463 3,334 14,559 7Segment T 20,114 2,339 22,453 544 3,053 8,917 8

Total $ 55,410 $ 4,076 $ 59,486 $ 1,533 $ 8,443 $ 31,418 $ 2,46



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2

B Corp

Note 18 Segment Reporting

Revenues generated from external customer company X accounts for 13% of our consolidated revenues. Revenues generated fromexternal customer company Y accounts for 49% of our consolidated revenues.

Revenue

(In millions)

Segment A $ 20,242

Segment B 16,791

Segment C 22,453

Intersegment Sales & Revenues (4,076)

Revenue $ 55,410

Profit (Loss)

(In millions)

Segment A $ 3,040

Segment B 4,334

Segment C 8,046

Segment Profit (loss) $ 15,420

Restructuring Expense (2,471)

Amortization Expense (4,506)

Consolidated Operating Income $ 8,443

Reconciliation of Assets

2011 2010

(In millions)

Segment A $ 9,981 $ 9,784

Segment B 18,633 17,515

Segment C 10,514 9,337

Eliminations (7,710) (9,096)Total Assets $ 31,418 $ 27,540



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3

US GAAP Taxonomy for Segment Reporting Disclosure

NOTEFor this exercise, we are unable to include other element attributes such as item/data type,documentation label, references, and many other element relationships. However, when selectingelements for SEC filings users should not rely solely on element names or standard labels, andshould consider these other attributes with an emphasis on the item/data type, documentationlabel, and references.



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5



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7



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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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1 | P a g e

RECOMMENDED SEGMENT DISCLOSURE SOLUTION

Key Attributes: Eliminations are tagged as US GAAP Taxonomy line items.

XYZ COMPANY

B Corp



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2 | P a g e



35/64

M o d e l

i n g

/ T a g

S e l e c t

i o n

E x e r c

i s e

A c c u m u l a t e d

O t h e r

C o m p r e h e n s i v e

I n c o m e

F o o

t n o t e

E x e r c

i s e

S t e p s

1 . R e a

d t h e

f o o t n o

t e

2 . D e t e r m

i n e w

h a t n e e

d s t o b e t a g g e d

f o r

L e v e

l 4 t a g g

i n g

3 . S e l e c t a p p r o p r i a

t e e l e m e n

t s f r o m

a t t a c h e d U S G A A P T a x o n o m y

E x c e r p

t , i n c l u d

i n g a n y

d i m e n s i o n s o r e x

t e n s

i o n e l e m e n

t s

4 . D i s c u s s a n y m a p p i n g

i s s u e s

/ c h a l l e n g e s w

i t h i n s m a l

l g r o u p

5 . I f t i m e p e r m

i t s ,

f o r e l e m e n

t s s e l e c

t e d , l i s t

t h e e l e m e n

t s i n t h e p r o p e r

t r e e s t r u c t u r e

f o r

t h e c o m p a n y s

t a x o n o m y

( s h o w

t h e s e q u e n c e a n

d p a r e n t - c

h i l d r e

l a t i o n s

h i p s

)

Q u e s t

i o n s

t o C o n s i

d e r :

1 . P l e a s e c o n s

i d e r

t h e r e c e n t

A S U

. T h i s w

i l l m a y p r e s e n

t e d i n a s a p a r t o f

t h e

I n c o m e

S t a t e m e n

t o r a s a

f o o t n o

t e a n

d n o

t i n

t h e

S t a t e m e n

t o f S h a r e

h o l d e r s

E q u

i t y .

2 . W h a t a r e s o m e o f

t h e c h a l

l e n g e s w

h e n

t a g g

i n g

t h e

A c c u m u l a t e d

O t h e r


I n c o m e ?

H I N T : T a g

t h e

d a t a a n

d n o

t t h e p r e s e n

t a t i o n .

3 . W h e n

d e t e r m

i n i n g w

h i c h e l e m e n

t s t o s e

l e c t , u

n d e r s t a n

d w

h i c h c o m p o n e n

t s r e

l a t e t o O C I .

4 . S h o u

l d w e

b e u s

i n g e l e m e n t s

t h a t a r e n e

t o f t a x o r g r o s s o f

t a x

( b o t

h a r e

p r e s e n

t i n

t h e

t a x o n o m y )

?

5 . I f w e a r e u s

i n g

t h e n e

t o f t a x e l e m e n

t s , d

o w e a l s o p r e s e n

t t h e r e

l a t e d t a x e x p e n s e a n

d b e n e

f i t s ?

I n t h i s

s t a t e m e n

t o r i n a p a r e n t

h e t i c a l s t a t e m e n

t ?

F o r p u r p o s e s o f

t h i s e x e r c i s e w e a r e o n l y g o

i n g

t o f o c u s o n

t h e

O t h e r


I n c o m e c o m p o n e n t s

t h a t a r e a d

d e d a n

d s u b t r a c t e d

t o A O C I i n

t h e e x a m p l e

p r o v

i d e d . N

o t a l

l i n f o r m a t

i o n

h a s

b e e n p r o v

i d e d .

I f y o u c o m p l e t e y o u r e x e r c i s e a n

d h a v e

t i m e , p l e a s e c o n s

i d e r w

h a t e l e m e n

t s y o u w o u

l d u s e

t o t a g

t h e

t a x c o m p o n e n t s o f e a c h

l i n e

i t e m

i n t h e s t a t e m e n

t .

35

Copyright 2012 XBRL US, Inc. All rights reserved. XBRL US is the national consortium of xml business reporting standards


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2

A c c u m u

l a t e

d O t h e r C o m p r e

h e n s i v e I n c o m e -

E x e r c i s e

S o m e c o m p o n e n t s w e r e s e

l e c t e d a n

d p r e s e n t e d

f o r t

h i s e x e r c i s e . N

o t a l

l c o m p o n e n

t s o f

t h e

A O C I h a v e

b e e n p r e s e n

t e d h e r e .

H o w w o u

l d

y o u

t a g

t h i s

c o

l u m n o

f

d a

t a ?

R e

t a i n e

d

E a r n

i n g s

A c c u m u

l a t e d

O t h e r

C o m p

I n c o m e

( L o s s

)

B a

l a n c e ,

J a n u a r y

1 ,

2 0 1 1

2 , 6

7 9

3 1 1

N e

t I n c o m e

( L o s s

)

3 5 0

O t h e r

C o m p r e

h e n s i v e

I n c o m e

( L o s s ) :

A m o r t

i z a

t i o n o f p r i o r s e r v

i c e c o s t ,

n e t o f

t a x

o f $ 1

4

A m o r t

i z a

t i o n o f a c t u a r i a

l l o s s ,

n e

t o f

t a x o

f

$ 6 0

2 5 0

F o r e

i g n e x c h a n g e

t r a n s l a

t i o n a

d j u s t m

e n

t ,

n e

t o f

t a x e x p e n s e o

f $ 2 0 0

8 6 4

U n r e a

l i z e

d g a i n

( l o s s

) o n

f o r e

i g n e x c

h a n g e

c o n

t r a c t s q u a

l i f y i n g a s

h e

d g e s , n e

t o f t a x

e x p e n s e o

f $ 2 5

7 2

U n r e a

l i z e

d g a i n

( l o s s

) o n

i n v e s t m e n t s , n e

t

o f t a x

b e n e

f i t o f

$ 1 0

( 6 8 )

R e c l a s s

i f i c a

t i o n o f r e a

l i z e

d n e

t l o s s e s

t o n e

t

i n c o m e ,

n e

t o f

t a x

b e n e

f i t o f

$ 2 0

2 8

T o

t a l C o m p r e

h e n s i v e

i n c o m e

( L o s s )

3 5 0

1 , 1

5 0

B a

l a n c e a

t D e c e m

b e r

3 1

, 2 0 1 1

3 , 0

2 9

1 , 4

6 1

36



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3

U S G A A P T a x o n o m y f o r

S e g m e n

t R e p o r

t i n g

D i s c l o s u r e

N O T E

F o r t

h i s e x e r c i s e , w

e a r e u n a b

l e t o i n c l u d e o t

h e r e

l e m e n

t a t t r i b u t e s s u c h a s i

t e m

/ d a t a

t y p e , d

o c u m e n

t a t i o n

l a b e l , r e

f e r e n c e s , a n

d m a n y o t

h e r e

l e m e n

t

r e l a t i o n s

h i p s . H

o w e v e r , w

h e n s e l e c t

i n g e l e m e n

t s f o r S

E C f i l i n g s u s e r s s h o u

l d n o

t r e l y s o

l e l y o n e l e m e n

t n a m e s o r s t a n

d a r d

l a b e l s

, a n d s h o u

l d

c o n s

i d e r

t h e s e o t

h e r a

t t r i b u t e s w i t h

a n e m p h a s

i s o n

t h e

i t e m

/ d a t a

t y p e , d

o c u m e n

t a t i o n

l a b e l , a n

d r e

f e r e n c e s .

E x c e r p t

f r o m

2 0 1 2 U S G A A P T a x o n o m

y -

S t a t e m e n t o

f O t h e r C o m p r e

h e n s i v e I n c o

m e

( P a r t 1

)

37



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4

E x c e r p t

f r o m

2 0 1 2 U S G A A P T a x o n o m y -

S t a t e m e n t o


h e n s i v e I n c o m e

( P a r t 2

)

38



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5

E x c e r p t

f r o m

2 0 1 2 U S G A A P T a x o n o m y -

S t a t e m e n t o



( P a r t 3

)

39



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6

E x c e r p t

f r o m

2 0 1 2 U S G A A P T a x o n o m y -

S t a t e m e n t o



( P a r t 3

)

40



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7

E x c e r p t

f r o m

2 0 1 2 U S G A A P T a x o n o m y -

S t a t e m e n t o



( P a r t 4

)

41



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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Modeling / Tag Selection ExerciseAccumulated Other Comprehensive Income Footnote

Exercise Steps



3. Select appropriate elements from attached US GAAP Taxonomy Excerpt, including any dimensions or extension elements


5. If time permits, for elements selected, list the elements in the proper tree structure for the companys taxonomy (show thesequence and parent-child relationships)


1. Please consider the recent ASU. This will may presented in as a part of the Income Statement or as afootnote and not in the Statement of Shareholders Equity.

2. What are some of the challenges when tagging the Accumulated Other Comprehensive Income? HINT: Tagthe data and not the presentation.

3. When determining which elements to select, understand which components relate to OCI.

4. Should we be using elements that are net of tax or gross of tax (both are present in the taxonomy)?

5. If we are using the net of tax elements, do we also present the related tax expense and benefits? In this

statement or in a parenthetical statement?



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2

Accumulated Other Comprehensive Income - Exercise

Some components were selected and presented for this exercise. Not all components of the AOCI (OCI) disclosure have been presented here.

How would

you tag thiscolumn ofdata?

RetainedEarnings

AccumulatedOther CompIncome(Loss)

Balance, January 1, 2011 2,679 311

Net Income (Loss) 350Other Comprehensive Income (Loss):

Amortization of prior service cost, net of taxof $1 4

Amortization of actuarial loss, net of tax of$60 250

Foreign exchange translation adjustment,net of tax expense of $200 864

Unrealized gain (loss) on foreign exchangecontracts qualifying as hedges, net of taxexpense of $25 72

Unrealized gain (loss) on investments, netof tax benefit of $10 (68)Reclassification of realized net losses to netincome, net of tax benefit of $20 28

Total Comprehensive income (Loss) 350 1,150

Balance at December 31, 2011 3,029 1,461



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3

Accumulated Other Comprehensive Income - Solution

Some components were selected and presented for this exercise. Not all components of the AOCI (OCI) disclosure have been presented here.

AccumulatedOther CompIncome (Loss)[Member]

What element should be used to model theconcept listed to the left?

Using the AOCI Member in the face stmt.

Balance, January 1, 2011 311 Stockholders' Equity Attributable to ParentNet Income (Loss) Net income lossOther Comprehensive Income (Loss):

Amortization of prior service cost, net of tax

of $1 4

Other Comprehensive Income (Loss), Amortization, Pension and OtherPostretirement Benefit Plans, Net PriorService Cost Recognized in Net Periodic

Pension Cost, Net of Tax


Other Comprehensive Income (Loss),Reclassification, Pension and OtherPostretirement Benefit Plans, Net Gain(Loss) Recognized in Net Periodic BenefitCost, Net of Tax


Other Comprehensive Income (Loss),Foreign Currency Transaction andTranslation Gain (Loss) Arising DuringPeriod, Net of Tax

Unrealized gain (loss) on foreign exchangecontracts qualifying as hedges, net of taxexpense of $25 72

Other Comprehensive Income (Loss),Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax

Unrealized gain (loss) on investments, netof tax benefit of $10 (68)

Other Comprehensive Income (Loss),Unrealized Holding Gain (Loss) onSecurities Arising During Period, Net of Tax

Reclassification of realized net losses to netincome, net of tax benefit of $20 28

Other Comprehensive Income (Loss),Reclassification Adjustment for Sale ofSecurities Included in Net Income, Net ofTax

Total Comprehensive income (Loss) 1,150 Other Comprehensive Income (Loss), Net ofTax

Balance at December 31, 2011 1,461 Stockholders' Equity Attributable to Parent



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4

Accumulated Other Comprehensive Income - Solution

Some components were selected and presented for this exercise. Not all components of the AOCI reporting have been presented here.

AccumulatedOther CompIncome (Loss)[Member]

What element can be used tomodel the tax effect of the conceptat the left?In the SE (Parenthetical) stmt.

Balance, January 1, 2011 311Net Income (Loss)Other Comprehensive Income (Loss):

Amortization of prior service cost, net of taxof $1 4

Other Comprehensive Income(Loss), Amortization, Pension andOther Postretirement BenefitPlans, Net Prior Service CostRecognized in Net PeriodicPension Cost, Tax


Other Comprehensive Income(Loss), Reclassification, Pensionand Other Postretirement BenefitPlans, Net Gain (Loss)Recognized in Net Periodic BenefitCost, Tax


Other Comprehensive Income(Loss), Foreign CurrencyTranslation Gain (Loss) ArisingDuring Period, Tax

Unrealized gain (loss) on foreign exchange

contracts qualifying as hedges, net of taxexpense of $25 72

Other Comprehensive Income(Loss), Unrealized Gain (Loss) on

Derivatives Arising During Period,Tax

Unrealized gain (loss) on investments, netof tax benefit of $10 (68)

Other Comprehensive Income(Loss), Unrealized Holding Gain(Loss) on Securities Arising DuringPeriod, Tax

Reclassification of realized net losses to netincome, net of tax benefit of $20 28

Other Comprehensive Income(Loss), Reclassification Adjustmentfor Sale of Securities Included inNet Income, Tax

Total Comprehensive income (Loss) 1,150

Balance at December 31, 2011 1,461



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1 | P a g e

Modeling / Tag Selection ExerciseIncome Taxes

Exercise Steps



3. Select appropriate elements from attached US GAAP Taxonomy Excerpt, including anydimensions or extension elements


5. If time permits, for elements selected, list the elements in the proper tree structure for thecompanys taxonomy (show the sequence and parent -child relationships)

Additional Questions to Consider

1. How should the Non-US income before taxes by geography be tagged? Are there specific

elements for countries that are included within the UGT? [Item 1]

2. How should deferred tax assets and deferred tax liabilities detailed in the footnotes be tagged

and sh own on the entitys balance sheet? What are the appropriate tags for the specific

reported values noted in the footnotes? [Item 2]

3. How should the concept of more likely than not be tagged? [Item 3]

4. How should the information related to unrecognized tax benefits that will significantly

increase or decrease within 12 months of the reporting date be tagged? [Item 4]

5. How should the undistributed earnings of a foreign subsidiary be tagged? [Item 5]



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2 | P a g e

[Item 1]

Disclosures for the year ended December 31, 2011

Note 2. Income Taxes

The following is a summary of income before taxes by geographyYear Ended December 31,

2011 2010 2009U.S $16,810 $15,910 $15,550

Non-US 10,330 5,000 4,510

$27,140 $20,910 $20,060

Of the $10,330 of taxable income during 2011 from outside the US, $3,930 related to operations in

Germany, $3,500 related to operations in France, and $2,900 related to operations in Japan. Of the $5,000 of taxable

income during 2010 from outside the US, $2,500 related to operations in Germany, $1,500 related to operations in

France, and $1,000 related to operations in Japan. For 2009, the taxable income outside of the US was comprised of

$1,510 related to operations in Germany, $2,200 related to operations in France, and $800 related to operations in

Japan.



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[Item 2]

Deferred Tax Assets and LiabilitiesABC Corp.

Balance Sheet

2011 2010 Classification

Deferred tax assets Net operating loss carry forwards $13,000 $11,700 NC

Tax credits 6,000 5,400 C

Goodwill 7,000 6,300 NC

Advertising and sales promotion 2,500 2,250 C

Retiree medical 1,250 1,125 NC

Other 1,000 900 C

Gross deferred tax assets $30,750 $27,675

Valuation allowance $(4,500) $(4,050) NC

Total deferred tax assets $26,250 $23,625

Deferred tax liabilitiesProperty, plant, and equipment $(13,000) $(11,700) NC

Pension benefits (12,000) (10,800) NC

Amortizable intangible assets (9,500) (8,550) NC

Other (1,200) (1,080) C

Total deferred tax liabilities $(35,700) $(32,130)

Net deferred tax liabilities $(9,450) $(8,505) NC



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[Item 3]The Company conducts business globally and the Company and its subsidiaries file income tax returns in

U.S. federal, state and foreign jurisdictions, as required. In the normal course of business, the Company is subject to

examination by taxing authorities throughout the world, including such major jurisdictions as France, Germany,

Japan and the U.S. Various entities of the Company are currently under audit in Germany, France, the U.S. and

elsewhere. With few exceptions, including net operating loss carry forwards in the U.S. and certain subsidiaries in

Germany that are under audit, the statute of limitations for the Company and its subsidiaries has, as a practical

matter expired for tax years prior to 2007. The Company assesses uncertain tax positions for recognition,

measurement and effective settlement. Where the Company has determined that its tax return filing position does not

satisfy the more likely than not recognition threshold of A SC 740, Income Taxes, it has recorded no tax benefits.

Where the Company has determined that its tax return filing positions are more likely than not to be sustained, the

Company has measured and recorded the largest amount of tax benefit greater than 50% likely to be realized.

[Item 4]

As of December 31, 2011 and 2010, approximately $60 million and $75 million (net of federal tax benefits) of

unrecognized tax benefits and associated interest and penalties would affect our income tax expense and our

effective income tax rate if recognized in future periods. We believe it is reasonably possible that the total amount of

unrecognized tax benefits (including interest and penalty) will decrease by as much as $20 million over the next

12 months as a result of the anticipated favorable resolution of certain tax matters.

[Item 5]Deferred U.S. income taxes have not been recorded for temporary differences totaling $11.0 million related to

investments in certain foreign subsidiaries and corporate affiliates. The temporary differences consist primarily of

undistributed earnings that are considered permanently invested in operations outside the U.S. If managements

intentions change in the future, deferred taxes may need to be provided.



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US GAAP Taxonomy for Income Tax Reporting Disclosure

NOTEFor this exercise, we are unable to include other element attributes such as item/data type,documentation label, references, and many other element relationships. However, when selecting

elements for SEC filings users should not rely solely on element names or standard labels, andshould consider these other attributes with an emphasis on the item/data type, documentationlabel, and references.



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Members in Presentation Group 190000 are also found in other Presentation Groups throughout thetaxonomy.



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Country Codes are under the purview of the SEC but are included in the 2012 UGT to facilitate tagging.

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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Element

Extension

Element

(YES/NO)

Element Type

(T= Table; A=Axis,





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Modeling / Tag Selection ExerciseIncome Taxes

Modeling /Tag Solution

1. Income before taxes

The date context differentiates the reporting periods.

Note: There are specific line items for IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic andIncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign , however dimensionalizing the foreign income

provides more information to the user of the financial statements.

Country Codes are under the purview of the SEC but are included in Presentation Group 995410 of the 2012 UGT tofacilitate tagging.



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2. Deferred Tax Assets and Liabilities

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3. Concept of More likely than Not

The Company conducts business globally and the Company and its subsidiaries file income tax returns in U.S. federal, stateand foreign jurisdictions, as required. In the normal course of business, the Company is subject to examination by taxing authorities

throughout the world, including such major jurisdictions as France, Germany, Japan and the U.S. Various entities of the Company arecurrently under audit in Germany, France, the U.S. and elsewhere. With few exceptions, including net operating loss carry forwardsin the U.S. and certain subsidiaries in Germany that are under audit, the statute of limitations for the Company and its subsidiarieshas, as a practical matter expired for tax years prior to 2007. The Company assesses uncertain tax positions for recognition,measurement and effective settlement. Where the Company has determined that its tax return filing position does not satisfy the morelikely than not recognition threshold of ASC 740, Income Taxes, it has recorded no tax benefits. Where the Company hasdetermined that its tax return filing positions are more likely than not to be sustained, the Company has measured and recorded thelargest amount of tax benefit greater than 50% likely to be realized.

According to FASB Accounting Standards Codification Section 740-10-30- 7 more likely than not is always greater than 50% therefore it does not need to be tagged.

4. Unrecognized Tax Benefits



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5. Deferred Income Taxes on Undistributed Earnings of Foreign Subsidiaries

Exercises x Brl

Documents

Transcript of Exercises x Brl