BE-11C Report for Foreign Affiliate

FORM

BE-11C

OMB No. 0608-0053: Approval Expires 01/31/2012

(REV. 7/2010)

2010 ANNUAL SURVEY OF U.S. DIRECT INVESTMENT ABROAD
MANDATORY — CONFIDENTIAL

BE-11C (Report for Minority-Owned Foreign Affiliate of U.S. Reporter)
ELECTRONIC FILING:
www.bea.gov/efile

BEA USE ONLY

U.S. Department of Commerce
Bureau of Economic Analysis, BE-69(A)
Washington, DC 20230

C

Affiliate ID Number

1

Name of U.S. Reporter of foreign affiliate – Same as item 1, Form BE-10A

2

Name of foreign affiliate being reported – Use the same name on all reports filed
subsequently for this affiliate with the Bureau of Economic Analysis, e.g., Form BE-577.

U.S. Department of Commerce
Bureau of Economic Analysis, BE-69(A)
Shipping and Receiving,
Section M-100
1441 L Street, NW
Washington, DC 20005
E-mail:
Telephone:
Fax:

be10/[email protected]
(202) 606-5566
(202) 606-5312

Please include your BEA Identification
Number with all requests.
Copies of instructions and blank forms:
www.bea.gov

1002

IMPORTANT
Instruction Booklet — Contains additional instructions, definitions and detailed reporting requirements for completing this form.
Who must report — The U.S. Reporter must file Form BE-11C for each minority-owned foreign affiliate owned directly and/or
indirectly, at least 20 percent, but not more than 50 percent, by all U.S. Reporters of the affiliate combined, for which total assets; sales
or gross operating revenues, excluding sales taxes; OR net income after provision for foreign taxes was greater than $60 million
(positive or negative) at the end of, or for, the affiliate’s 2010 fiscal year. See Instruction Booklet, Part I for detailed reporting
requirements.
Due Date — A complete BE-11 report is due May 31, 2011
Translation of foreign currency financial and operating data into U.S. dollars — Use U.S. Generally Accepted Accounting
Principles (FASB ASC 830). See Instruction Booklet, Part IV.B.
Bil.
Mil.
Thous. Dols.
Monetary Values — Report in U.S. dollars rounded to thousands (omitting 000). Do not enter
amounts in the shaded portions of each line. EXAMPLE – If amount is $1,334,891.00, report as
1
335 000
If an item is between + or – $500.00, enter "0." Use parenthesis () to indicate negative numbers.

98.7 %

Percentages — Report ownership percentages to a tenth of one percent:

Part I — Identification of Minority-Owned Foreign Affiliate
See Additional Instructions for Part I, on page 5 at the back of this form.
3 What is the country of location? — Country in which this foreign affiliate’s physical assets are located or where its primary
activity is carried out — Mark (X) one.
Note — If the affiliate is engaged in petroleum, shipping, other water transportation, or oil and gas drilling, and has operations spanning
more than one country, use country of incorporation for country of location. For example, classify in country of incorporation an oil drilling
rig that moves from country to country during the year.
1003

1 601

Australia
Belgium

1 302

1 650
1 307
1

1

202

Brazil

1

100

Canada

308

1 611

China
France
Germany
Hong Kong

1 313
1 314

Ireland
Italy

1

614

Japan

1

213

Mexico

1 319
1 325
1 327
1

Netherlands
Switzerland
United Kingdom
Other — Specify
Month

4 What is the ending date of this foreign affiliate’s 2010 fiscal year? – The foreign
affiliate’s financial reporting year that has an ending date in calendar year 2010. See
Instruction Booklet, Part II.A.

1004

Day

Year

1

__ __ / __ __ / __
2 __
0 __
1 __
0

5 Did the foreign business enterprise become a foreign affiliate of the U.S. Reporter during the fiscal year?
1005

1

1

Yes, and this is its initial report — Affiliate was not previously owned by the U.S. Reporter
If "Yes," did the U.S. Reporter — Mark (X) one
2
2

1

2

1
2

No

Establish the foreign affiliate?
Acquire a voting interest of 10 percent or more in an existing foreign company?

⎫
⎬Enter
date
⎭

Month

Year

3

___ ___ / ___ ___ ___ ___

BE-11C
Part I — Identification of Minority-Owned Foreign Affiliate — Continued
Ownership interest in this Foreign Affiliate by U.S. Reporter named in item 1

Percent of
ownership at
close of fiscal
year 2010

Percent of voting stock for an incorporated affiliate, or an equivalent interest for an unincorporated
affiliate.
Note — Voting interest is the U.S. Reporter’s direct ownership in just the voting equity of the
affiliate. Examples of voting equity include voting stock and a general partner’s interest in a
partnership. Thus, a U.S. Reporter could have a 100 percent direct voting interest in an affiliate but
own less than 100 percent of the affiliate’s total equity.
6 What is the direct ownership interest held by U.S. Reporter named in item

1

1012

2

___ ___ ___ . ___ %

?. . . . . . . . . . . . . .
1020

2

7 What is the indirect ownership interest held through the U.S. Reporter’s other foreign affiliates? —
See Instruction Booklet, Part I.B.1.c., on how to calculate indirect ownership interest. (If entry is
made here, complete item 9 .) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1050

8 What is the total ownership interests held by the U.S. Reporter? — Sum of items

6

and

7

___ ___ ___ . ___ %
2

___ ___ ___ . ___ %

. . . .

9 Identification of foreign affiliate parent(s) — If there is an entry in item 7 , — Enter below, the name(s) and
percent(s) of ownership of each foreign affiliate of the U.S. Reporter named in item 1 holding a direct ownership interest
in this foreign affiliate. Also, for each foreign affiliate in column (a) that is below the first tier in its ownership chain, enter in
column (c) the name of the foreign affiliate that holds a direct ownership interest in it.
Foreign affiliate(s) holding direct ownership interest in this foreign affiliate
Name and ID Number
Enter name and BEA ID Number of foreign
affiliate(s) holding a direct ownership interest
in this foreign affiliate.

Percent direct
ownership in
this foreign affiliate

BEA
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ONLY

Name of foreign affiliate, if
any, in ownership chain
that holds direct interest in
foreign affiliate named in
column (a)

Close FY 2010
(b)

(a)
1191

1

2

1192

1

2

a.

(c)

___ ___ ___ . ___ %

b.

___ ___ ___ . ___ %
1021

TOTAL

2

___ ___ ___ . ___ %

10 What is the MAJOR product or service involved in this activity? If a product, briefly state what is done to it, i.e., whether it is
mined, manufactured, sold at wholesale, packaged, transported, etc. (For example, "Manufacture widgets to sell at wholesale.")
1029

11 What is the international Survey Industry (ISI) code? — Give the 4-digit ISI code in the industry
group that accounts for the largest amount of the affiliate’s sales. A list, and a full explanation of, the ISI
codes are given in the Guide to Industry Classifications for International Surveys, 2007. A
summary list of ISI codes is included on Form BE-11B. For an inactive affiliate, enter an ISI code based on
its last active period.
Note — To be considered a holding company (ISI code 5512), a company’s equity in net income of
affiliates that it holds must constitute a majority of its total income. In addition, normally at least 50
percent of total assets must consist of investments in affiliates. ISI 5512 (holding company) is an invalid
classification if more than 50 percent of income generated, or expected to be generated, by an affiliate is
from non-holding company activities.

1039

2

Remarks

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C

Affiliate ID Number

BE-11C

Part II — Financial and Operating Data of Minority-Owned Foreign Affiliate
Report the data to represent 100 percent of the foreign affiliate and not just the portion, if less than 100 percent,
owned by the U.S. Reporter(s).
• Report gross operating revenues or gross sales minus returns, allowances, and discounts. Exclude sales or consumption taxes
levied directly on the consumer. Exclude net value-added and excise taxes levied on manufacturers, wholesalers, and retailers.
Affiliates classified in ISI codes 5221, 5223, 5224, 5229, 5231, 5238, 5252 and 5331 report interest income on this line. Insurance
companies with ISI codes 5243 and 5249 should include gross investment income on this line.
• Report net income for the year, after provision for foreign income taxes, but before provision for common and preferred dividends.
Include income from equity investments and certain gains (losses) (net of income tax effects) included in the determination of net
income.
• Dealers in financial instruments and finance, insurance, and real estate companies see Special Instructions on page 5.
$ Bil.
What are the foreign affiliates values for:

2090

Mil.

000

12 Total assets — Balance at close of fiscal year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2041

1

000

13 Total liabilities — Balance at close of fiscal year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2051

1

000

14 Annual sales or gross operating revenues, excluding sales taxes. . . . . . . . . . . . . . . . . . . . . . . . . .
2051

Thous. Dols.

1

1

000

15 Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of Employees and Employee Compensation
• Report the number of employees on the payroll at the end of FY 2010 including part-time employees, but excluding temporary
and contract employees not included on your payroll records. A count taken at some other date during the reporting period may
be given provided it is a reasonable estimate of employees on the payroll at the end of FY 2010. If the number of employees at the
end of FY 2010 (or when the count was taken) was unusually high or low due to temporary factors (e.g., a strike), enter the number
of employees that reflects normal operations. If the number of employees fluctuates widely during the year due to seasonal
business variations, report the average number of employees on the payroll during FY 2010. Base such an average on the number
of employees on the payroll at the end of each pay period, month or quarter. If precise figures are not available, give your best
estimate.
• Report employee compensation expenditures made by an employer in connection with the employment of workers, including cash
payments, payments in-kind, and employer expenditures for employee benefit plans including those required by statute. Base
compensation data on payroll records. Report compensation which relates to activities that occurred during the reporting period
regardless of whether the activities were charged as an expense on the income statement, charged to inventories, or capitalized.
DO NOT include data related to activities of a prior period, such as those capitalized or charged to inventories in prior periods. DO
NOT include compensation of contract workers not carried on the payroll of this affiliate.
• Total Employee compensation consists of wages and salaries of employees and employer expenditures for all employee
benefit plans.
— Wages and salaries include gross earnings of all employees before deduction of employees’ payroll withholding taxes,
social insurance contributions, group insurance premiums, union dues, etc. Include time and piece-rate payments, cost of
living adjustments, overtime pay and shift differentials, bonuses, profit-sharing amounts, stock based compensation, and
commissions. Exclude commissions paid to independent personnel who are not employees. Include direct payments by
employers for vacations, sick leave, severance (redundancy) pay, etc. Exclude payments made by, or on behalf of, benefit
funds rather than by the employer. Include employer contributions to benefit funds. Include in-kind payments, valued at their
costs, that are clearly and primarily of benefit to the employees as consumers. Do not include expenditures that benefit
employers as well as employees, such as expenditures for plant facilities, employee training programs, and reimbursement
of business expenses.
— Employee benefit plans include employer expenditures for all employee benefit plans including those mandated by
government statute, those resulting from collective bargaining contracts and those that are voluntary. Include Social Security
and other retirement plans, life and disability insurance, guaranteed sick pay programs, workers’ compensation insurance,
medical insurance, family allowances, unemployment insurance, severance pay funds, etc. Also, include deferred
post-employment and post-retirement expenses per FASB ASC 715. If plans are financed jointly by the employer and the
employee, include only the contributions of the employer.
Number of
employees
NUMBER OF EMPLOYEES
2105 1
16 WHAT IS THE TOTAL NUMBER OF EMPLOYEES* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
EMPLOYEE COMPENSATION
17 WHAT IS THE VALUE FOR TOTAL EMPLOYEE COMPENSATION* — Report, for all
employees, the sum of
$ Bil.
a. Wages and salaries — Employees’ gross earnings (before payroll deductions), and direct and
2110 1
in-kind payments by the employer to employees; and
b. Employee benefit plans — Employer expenditures for all employee benefit plans
. . . . . . . . . . . . . . . . . .
Remarks

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Mil.

Thous. Dols.

000

BE-11C
Part III — U.S. Exports to and U.S. Imports From Minority-Owned Foreign Affiliate
Goods only valued f.a.s. at port of exportation; do not include services — See Instruction Booklet, Part V.
IMPORTANT NOTES
In-transit goods — Exclude from exports and imports the value
of goods that are in-transit. In-transit goods are goods that are
not processed or consumed by residents in the intermediate
country(ies) through which they transit; the in-transit goods enter
that country(ies) only because that country(ies) is along the
shipping lines between the exporting and importing countries.
In-transit imports are goods en route from one foreign country to
another via the United States (such as from Canada to Mexico via
the United States), and in-transit exports are goods en route from
one part of the United States to another part via a foreign
country (such as from Alaska to Washington State via Canada).

Report U.S. exports of goods to and U.S. imports of goods from
the foreign affiliate in FY 2010. Report all goods that physically
left or entered the U.S. customs area. Report data on a "shipped"
basis, i.e., on the basis of when and to (or by) whom the goods
were shipped. This is the same basis as official U.S. trade
statistics to which these data will be compared. Do not record a
U.S. import or export if the goods did not physically enter or
leave (i.e., were not physically shipped to or from) the United
States, even if they were charged to the foreign affiliate by, or
charged by the foreign affiliate to, a U.S. person.
Foreign affiliates normally keep their accounting records on a
"charged" basis, i.e., on the basis of when and to (or by) whom
the goods were charged. The "charged" basis may be used if
there is no material difference between it and the "shipped"
basis. If there is a material difference, the "shipped" basis must
be used or adjustments made to the data on a "charged" basis to
approximate a "shipped" basis. The data should include goods
only; they should exclude services.

Packaged general use computer software — Include exports and
imports of packaged general use computer software. Value such
exports and imports at the full transaction value, i.e., the market
value of the media on which the software is recorded and the value
of the information contained on the media. Do not include exports
and imports of customized software designed to meet the needs of a
specific user. This type of software is considered a service and
should not be included as trade in goods. Also do not include
negotiated leasing fees for software that is to be used on networks.

Capital goods — Include capital goods but exclude the value of
ships, planes, railroad rolling stock, and trucks that were
temporarily outside the United States transporting people or
goods.

Natural gas, electricity, and water — Report ONLY the product
value of natural gas, electricity, and water that you produce or sell at
wholesale as exports and imports of goods. DO NOT report the
service value (transmission and distribution).

Consigned goods — Include consigned goods in the trade
figures when shipped or received, even though they are not
normally recorded as sales or purchases, or entered into
intercompany accounts when initially consigned.

U.S. EXPORTS OF GOODS TO THIS FOREIGN AFFILIATE
(Valued f.a.s. U.S. port)

$ Bil.
4173

18 What is the value of the total goods shipped in FY 2010 from the U.S. (by the U.S.
Reporter(s) of this affiliate and by other U.S. persons) to this affiliate? . . . . . . . . . . . . . . . . . . . . .

Mil.

Thous. Dols.

1

000

U.S. IMPORTS OF GOODS FROM THIS FOREIGN AFFILIATE
(Valued f.a.s. foreign port)
4178

19 What is the value of the total goods shipped in FY 2010 to the U.S. (to the U.S.
Reporter(s) of this affiliate and to other U.S. persons) by this affiliate? . . . . . . . . . . . . . . . . . . . . .

1

000

Remarks

4179

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2010 ANNUAL SURVEY OF U.S. DIRECT INVESTMENT ABROAD
FORM BE-11C
ADDITIONAL INSTRUCTIONS BY LINE ITEM
SPECIAL INSTRUCTIONS FOR DEALERS IN FINANCIAL
INSTRUMENTS, FINANCE COMPANIES, INSURANCE
COMPANIES AND REAL ESTATE COMPANIES
A. Certain gains (losses) for (1) dealers in financial
instruments and finance and insurance companies, and
(2) real estate companies.

B. Special Instructions for insurance companies

• impairment losses as defined by FASB ASC 320,
• realized gains and losses on trading or dealing,
• unrealized gains or losses, due to changes in the valuation
of financial instruments, that flow through the income
statement, and
• goodwill impairment as defined by FASB ASC 350.

1. When there is a difference between the financial and operating
data reported to the stockholders and the data reported in the
annual statement to an insurance department, prepare the
BE-11 on the same basis as the annual report to the
stockholders. Valuation should be according to normal
commercial accounting procedures, not at rates promulgated
by national insurance departments, e.g., include assets not
acceptable for inclusion in the annual statement to an insurance
department, such as: 1. non-trusteed or free account assets and
2. nonadmitted assets, including furniture and equipment,
agents’ debit balances, and all receivables deemed to be
collectible. Include mandatory securities valuation reserves that
are appropriations of retained earnings in the owners’ equity
section of the balance sheet not in the liability section.

EXCLUDE from item 14 and 15 , unrealized gains or losses
due to changes in the valuation of financial instruments that are
taken to other comprehensive income.

2. Do not include assets of the U.S. Reporter held in the country
of location of the affiliate that are for the benefit of the U.S.
Reporter’s policyholders in the data reported for the affiliate.

Include income from explicit fees and commissions as
operating income in item 14 .

3. Instructions for reporting specific items

1. Dealers in financial instruments (including securities,
currencies, derivatives, and other financial instruments)
and finance and insurance companies — Include in the
calculation of net income (item 15 ):

Sales or gross operating revenues, excluding sales
taxes (item 14 ) — Include items such as earned
premiums, annuity considerations, gross investment income,
and items of a similar nature.

2. Real estate companies — Include in item 15 :
• impairment losses as defined by FASB ASC 360, and
• goodwill impairment as defined by FASB ASC 350.
Include revenues earned from the sale of real estate you own
as operating income in item 14 .

FORM BE-11C (REV. 7/2010)

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