BE-11 C BE-11 C (Report for Minority-Owned Foreign Affiliate of

FORM

BE-11C

OMB No. 0608-0053: Approval Expires 12/31/2016

(REV. 12/2013)

2013 ANNUAL SURVEY OF U.S. DIRECT INVESTMENT ABROAD
MANDATORY — CONFIDENTIAL

BE-11C (Report for Minority-Owned Foreign Affiliate of U.S. Reporter)

Mail reports to:

C

Affiliate ID Number

Electronic Filing: Go to www.bea.gov/efile for details
U.S. Department of Commerce
Bureau of Economic Analysis, BE-69(A)
Washington, DC 20230

1 Name of U.S. Reporter of foreign affiliate – Same as 1 , Form BE-11A

Deliver reports to: 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
Fax reports to:

(202) 606-5312

Assistance:

E-mail:
Telephone:
Copies of form:

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.

be10/[email protected]
(202) 606-5566
www.bea.gov/dia

Please include your BEA Identification Number with
all requests.

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 10
percent, but not more than 50 percent, by all U.S. Reporters of the affiliate combined and for which the affiliate’s total assets; sales or gross operating
revenues, excluding sales taxes; or net income after provision for foreign income taxes was greater than $60 million (positive or negative) at the end of, or
for, the affiliate’s 2013 fiscal year. However, if the affiliate is a foreign affiliate parent of another foreign affiliate being filed on Form BE-11C, Form BE-11C
must be filed for the foreign affiliate parent even if all of the items: total assets; sales or gross operating revenues, excluding sales taxes; or net income
after provision for foreign income taxes was less than or equal to $60 million (positive or negative) at the end of, or for, the affiliate’s 2013 fiscal year.
Due Date — A complete BE-11 report is due May 30, 2014.
Translation of foreign currency financial and operating data into U.S. dollars — Use U.S.
Generally Accepted Accounting Principles FASB ASC 830 (FAS 52). See Instruction Booklet, Part IV.B.

$

Bil.

Monetary Values — Report in U.S. dollars rounded to thousands (omitting 000).
EXAMPLE – If amount is $1,334,891.00, report as. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mil.

Thous. Dols.

1

335 000

If an item is between + or – $500.00, enter “0.” Use parenthesis () to indicate negative numbers.
Percentages — Report ownership percentages to a tenth of one percent:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 ___
8 . ___
7 %
___ ___

Part I — Identification of Minority-Owned Foreign Affiliate
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.
1
1
1
1
1007
601
650
313
319
Netherlands
Australia
China
Ireland
1
1
1

Belgium

1

202

Brazil

1

100

Canada

1

302

France

1

314

Italy

1

325

Switzerland

308

Germany

1

614

Japan

1

327

United Kingdom

611

Hong Kong

1

213

Mexico

1

307

Other — Specify
Month

4 What is the ending date of this foreign affiliate’s 2013 fiscal year? – The foreign
1009
affiliate’s financial reporting year that has an ending date in calendar year 2013.
See Instruction Booklet, Part II.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Day

Year

1

2 __
0 __
1 __
3
__ __ / __ __ / __

5 Did the foreign business enterprise become a foreign affiliate of the U.S. Reporter during the fiscal year?
1010

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?





Month
Enter
date

Year

3

___ ___ / ___ ___ ___ ___

Part I — Identification of Minority-Owned Foreign Affiliate — Continued
Ownership in this Foreign Affiliate
• Equity interest is the U.S. Reporter’s direct ownership in the total equity (voting and nonvoting) of the affiliate.
Examples of nonvoting equity include nonvoting stock and a limited partner’s interest in a partnership.
• 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.
• Enter percent of ownership based on total voting stock, as applicable, if an incorporated affiliate, or
an equivalent interest if an unincorporated affiliate.
1012

Percent of ownership at close
of fiscal year
Equity Voting
2013 2013
(1)
(2)

1

2

6 What is the direct ownership interest held by the U.S. Reporter named in 1 ? . . . . ___ ___ ___ . ___ %

1020

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., for instructions on how to calculate indirect ownership interest. (If entry is
made here, complete 9 .) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1050

8 What is the total ownership interest held by the U.S. Reporter? — Sum of 6 and 7 . . . . . . . . . . . . . . .

___ ___ ___ . ___ %
2

___ ___ ___ . ___ %
2

___ ___ ___ . ___ %

9 What is the name of the foreign affiliate parent(s)? — If there is an entry in 7 , enter below, the name(s) and
percent(s) of ownership of each foreign affiliate of the U.S. Reporter named in 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 (d) 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
Enter name of foreign affiliate(s)
holding a direct ownership interest
in this foreign affiliate.
(a)

BEA Affiliate ID Number taken from the Form
BE-11B, BE-11C, or BE-11E of each foreign
affiliate named in column (a)

1192

1

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

2

—————— ———— —
1

—————— ———— —

b.

Close FY 2013
(c)

(b)

1191

a.

Percent of direct
ownership in
this foreign affiliate

1021

TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

___ ___ ___ . ___ %
2

___ ___ ___ . ___ %
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 foreign affiliate’s primary industry (ISI) code? — Give the 4-digit ISI code for the industry
1039
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 at the back of 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), income from equity investments must be more than
50 percent of total income. In addition, normally at least 50 percent of total assets must consist of investments in affiliates.
ISI code 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.

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Remarks

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FORM BE-11C (REV. 12/2013)

Part II — Financial and Operating Data of Minority-Owned Foreign Affiliate
Section A — Selected Financial Data
Affiliate ID
• Report the data to represent 100 percent of the foreign affiliate, and not just the portion
owned by the U.S. Reporter(s).
• Report in 14 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.
— Finance and leasing companies with ISI codes 5221, 5223, 5224, 5229, 5231, 5238, 5252, or 5331 report interest income on this line.
— Insurance companies with ISI codes 5243 or 5249 report gross investment income on this line.
• Report in 15 net income (loss) 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 4.
What are the foreign affiliate’s values for:

$ Bil.
2090

Mil.

Thous.

000

12 Total assets? — Balance at close of fiscal year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2094

1

000

13 Total liabilities? — Balance at close of fiscal year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2041

1

000

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

Dols.

1

1

000

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

Section B — Number of Employees and Employee Compensation
• Report the number of employees on the payroll at the end of FY 2013 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 2013. If the number of employees at the end of FY 2013 (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 2013. 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 (FAS 106). If plans are
financed jointly by the employer and the employee, include only the contributions of the employer.
Number of
employees
2105

1

16 What is the foreign affiliate’s total number of employees?* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ Bil.
2110

17 What is the foreign affiliate’s total employee compensation expenditure? — Report, for all
employees, the sum of wages and salaries and employee benefit plans.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mil.

Thous.

Dols.

1

000

*Note – If the total number of employees in 16 is zero, please provide an explanation.

2076

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2

3

4

5

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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
Report U.S. exports of goods to and U.S. imports of goods from the
foreign affiliate in FY 2013. 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.
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.
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.

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).
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.
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).

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 2013 from the U.S. (by the U.S.
Reporter(s) of this affiliate and by other U.S. persons) to this affiliate?. . . . . . . . . . . . . . . . . . . . . . . . . . .
U.S. IMPORTS OF GOODS FROM THIS FOREIGN AFFILIATE (Valued f.a.s. foreign port)

Mil.

19 What is the value of the total goods shipped in FY 2013 to the U.S. (to the U.S.
Reporter(s) of this affiliate and to other U.S. persons) by this affiliate?. . . . . . . . . . . . . . . . . . . . . . . . . . .

Dols.

000
$ Bil.

4178

Thous.

1

Mil.

Thous.

Dols.

1

000

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
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.

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 in 15 :
• impairment losses as defined by FASB ASC 320 (FAS 115),
• 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 (FAS 142).

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.

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

3. Instructions for reporting specific items

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

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

2. Real estate companies — Include in 15 :
• impairment losses as defined by FASB ASC 360 (FAS 144), and
• goodwill impairment as defined by FASB ASC 350 (FAS 142).

Calculate premiums earned by companies engaged in insurance
activities as direct premiums written (including renewals) net of
cancellations, plus reinsurance premiums assumed, minus reinsurance
premiums ceded, plus unearned premiums at the beginning of the year,
minus unearned premiums at the end of the year.

Include income earned from the sale of real estate you own as
operating revenue in 14 .

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FORM BE-11C (REV. 12/2013)