Be-11d

FORM

BE-11D

OMB No. 0608-0053: Approval Expires 10/31/2021

(REV. 11/2020)

2020 ANNUAL SURVEY OF U.S. DIRECT INVESTMENT ABROAD
MANDATORY — CONFIDENTIAL

BE-11D (Report for Foreign Affiliate(s) Established or Acquired)
Due Date:

May 31, 2021

Electronic Filing: Go to www.bea.gov/efile for details
Mail reports to:

D

Reporter ID Number*
*Do not enter Social Security in Reporter ID box

Bureau of Economic Analysis
Direct Investment Division, BE-69(A)
4600 Silver Hill Road
Washington, DC 20233

1

Name of U.S. Reporter of foreign affiliate – Same as

1 , Form BE-11A

Deliver reports to: Bureau of Economic Analysis

Direct Investment Division, BE-69(A)

4600 Silver Hill Road

Suitland, MD 20746
Fax reports to:

(301) 278-9502

Assistance:

E-mail:
be10/[email protected]
Telephone:
(301) 278-9418
Copies of form: www.bea.gov/dia

Please include your Reporter Identification Number
with all requests.

IMPORTANT
Instruction Booklet — Contains additional instructions, definitions, and detailed reporting requirements for completing this form.
Who must report — The U.S. Reporter must report each foreign affiliate established or acquired in fiscal year 2020 for which
total assets; sales or gross operating revenues, excluding sales taxes; or net income after provision for foreign income taxes was greater than
$25 million (positive or negative), but for which no one of these items was greater than $60 million (positive or negative) at the end of, or for, the
affiliate’s 2020 fiscal year. Certain private funds are exempt from filing the Form BE-11D. Review exemption on page 2, Part II.B of the Form BE-11
Claim for Not Filing.
Foreign affiliate’s 2020 fiscal year — The foreign affiliate’s financial reporting year that has an ending date in calendar year 2020.
See Instruction Booklet, Part II.A.
EXAMPLE — If the financial reporting year ended on March 31, report for the 12-month period ended March 31, 2020.
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.

1

Thous.

Dols.

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: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BEA
USE
ONLY

1000

1

2

3

9 ___
8 . ___
7 %
___ ___

Listing of Foreign Affiliates Established or Acquired in FY 2020
Affiliate ID Number

5000

1

Amount
(Thousands of U.S. dollars)

0

Name of foreign affiliate. . . . .

$

Mil.

Thous.

000

Total assets. . . . . . . . . . . . .

Country of location . . . . . . . .

8

0
3

Sales or gross
operating revenues . . . . . . .

Primary industry code. . . . . . . . . . . . . . . . . . . . . . . . . .
4

Affiliate ID Number

5001

000

Total liabilities . . . . . . . . . . .

City of location. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of employees. . . . . . . . . . . . . . . . . . . . . . . . . .
5
Direct
U.S. Reporter’s percentage
of ownership . . . . . . . . . . . . .
___ ___ ___ . ___ %

Dols.

7

2 – BEA USE ONLY

6

Indirect
___ ___ ___ . ___ %

Net income (loss) after
foreign income tax. . . . . . . .
Research and development
performed BY the affiliate . .

9

000

10

000

11

000

1

Amount
(Thousands of U.S. dollars)

0

Name of foreign affiliate. . . . .

$

Mil.

Thous.

000

Total assets. . . . . . . . . . . . .

Country of location . . . . . . . .

8

0
3

Sales or gross
operating revenues . . . . . . .

Primary industry code. . . . . . . . . . . . . . . . . . . . . . . . . .
4

Affiliate ID Number

5002

000

Total liabilities . . . . . . . . . . .

City of location. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of employees. . . . . . . . . . . . . . . . . . . . . . . . . .
5
Direct
U.S. Reporter’s percentage
of ownership . . . . . . . . . . . . .
___ ___ ___ . ___ %

Dols.

7

2 – BEA USE ONLY

6

Indirect
___ ___ ___ . ___ %

Net income (loss) after
foreign income tax. . . . . . . .
Research and development
performed BY the affiliate . .

9

000

10

000

11

000

1

Amount
(Thousands of U.S. dollars)

0

Name of foreign affiliate. . . . .

$

Mil.

Thous.

000

Total assets. . . . . . . . . . . . .

Country of location . . . . . . . .

8

0
3

Sales or gross
operating revenues . . . . . . .

Primary industry code. . . . . . . . . . . . . . . . . . . . . . . . . .
4

Affiliate ID Number

5003

000

Total liabilities . . . . . . . . . . .

City of location. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of employees. . . . . . . . . . . . . . . . . . . . . . . . . .
5
Direct
U.S. Reporter’s percentage
of ownership . . . . . . . . . . . . .
___ ___ ___ . ___ %

Dols.

7

2 – BEA USE ONLY

6

Indirect
___ ___ ___ . ___ %

Net income (loss) after
foreign income tax. . . . . . . .
Research and development
performed BY the affiliate . .

9

000

10

000

11

000

1

Amount
(Thousands of U.S. dollars)

0

Name of foreign affiliate. . . . .

$

Thous.

Dols.

000

Total assets. . . . . . . . . . . . .

Country of location . . . . . . . .

8

0

000

Total liabilities . . . . . . . . . . .

City of location. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3

Sales or gross
operating revenues . . . . . . .

Primary industry code. . . . . . . . . . . . . . . . . . . . . . . . . .
4

Number of employees. . . . . . . . . . . . . . . . . . . . . . . . . .
5
Direct
U.S. Reporter’s percentage
of ownership . . . . . . . . . . . . .
___ ___ ___ . ___ %

Mil.

7

2 – BEA USE ONLY

6

Indirect
___ ___ ___ . ___ %

Net income (loss) after
foreign income tax. . . . . . . .
Research and development
performed BY the affiliate . .

9
10

11

000
000
000

Additional foreign affiliates should be reported on additional copied sheets.
Page 2

FORM BE-11D (REV. 11/2020)

INSTRUCTIONS
Country of location — 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.
Primary industry code (based on sales or gross operating
revenues) — Provide 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, 2017. A summary list
of ISI codes is included at the back of Form BE-11B. To be considered a
holding company (ISI code 5512), income from equity investments must
be more than 50 percent of total income.
Number of employees — Employees on the payroll at the end of FY
2020 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 2020. If
the number of employees at the end of FY 2020 (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 2020. 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.
U.S. Reporter’s Percentage of Ownership in the Foreign
Affiliate: Calculation of ownership percentage — A U.S.
Reporter’s ownership interest in a foreign business enterprise may be
directly held, indirectly held, or both. It is directly held if the U.S. Reporter

itself holds the ownership interest in the foreign business enterprise.
It is indirectly held if the U.S. Reporter holds an ownership interest in
another foreign business enterprise that, in turn, owns the given foreign
business enterprise. The U.S. Reporter must sum all direct and indirect
lines of ownership interest in the foreign business enterprise to determine
its ownership interest. Note — An associated group is deemed to be one
U.S. Reporter. See Instruction Booklet, Part II.C.
A U.S. Reporter’s percentage of indirect ownership interest in a given
foreign business enterprise is the product of the direct ownership
percentage that the U.S. Reporter has in the first foreign business
enterprise in the ownership chain, multiplied by that first enterprise’s direct
ownership percentage in the second enterprise in the chain, multiplied by
the direct ownership percentages for all other intervening enterprises in
the ownership chain, multiplied by the last intervening enterprise’s direct
ownership percentage in the given foreign business enterprise.
Sales or Gross Operating Revenues of Foreign Affiliate —
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.
Finance and leasing companies with ISI codes 5221, 5223, 5224, 5229,
5231, 5238, 5252, or 5331 report interest income. Insurance companies
with ISI codes 5243 or 5249 report gross investment income. Dealers in
financial instruments and finance, insurance, and real estate companies
see Special Instructions below.
Holding companies (ISI code 5512) must show total income. ISI code
5512 (holding company), is an invalid primary industry code if more than
50 percent of income generated, or expected to be generated, by the
affiliate is from non-holding company activities.

RESEARCH AND DEVELOPMENT
R&D is planned, creative work aimed at discovering new knowledge or developing new or significantly improved goods and services. This includes:
Basic research is the pursuit of new scientific knowledge or understanding that does not have specific immediate commercial objectives, although it
may be in fields of present or potential commercial interest.
Applied research applies the findings of basic research or other existing knowledge toward discovering new scientific knowledge that has specific
commercial objectives with respect to new products, services, processes, or methods.
Development is the systematic use of the knowledge or understanding gained from research or practical experience directed toward the production
or significant improvement of useful products, services, processes, or methods, including the design and development of prototypes, materials,
devices, and systems.
R&D includes the activities described above whether assigned to separate R&D organizational units of the company or carried out by company laboratories
and technical groups not a part of an R&D organization.
R&D EXCLUDES expenditures for:
• Costs for routine product testing, quality control, and technical services unless they are an integral part of an R&D project
• Market research
• Efficiency surveys or management studies
• Literary, artistic, or historical projects, such as films, music, or books and other publications
• Prospecting or exploration for natural resources
INCLUDE wages, salaries, and related costs; materials and supplies consumed; depreciation on R&D property and equipment, cost of computer
software used in R&D activities; utilities, such as telephone, electricity, water, and gas; travel costs and professional dues; property taxes and other
taxes (except income taxes) incurred on account of the R&D organization or the facilities they use; insurance expenses; maintenance and repair,
including maintenance of buildings and grounds; company overhead including: personnel, accounting, procurement and inventory, and salaries of
research executives not on the payroll of the R&D organization.
EXCLUDE capital expenditures, expenditures for tests and evaluations once a prototype becomes a production model, patent expenses, and income
taxes and interest.
FORM BE-11D (REV. 11/2020)

Page 3

SPECIAL INSTRUCTIONS FOR DEALERS IN FINANCIAL INSTRUMENTS, FINANCE COMPANIES, INSURANCE
COMPANIES, AND REAL ESTATE COMPANIES
A. Dealers in financial instruments (including securities,
currencies, derivatives, and other financial instruments)
and finance and insurance companies —
Sales or gross operating revenues:
INCLUDE income from explicit fees and commissions.
EXCLUDE
• 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 or
are taken to other comprehensive income, and
• Goodwill impairment as defined by FASB ASC 350 (FAS 142).

B. Real estate companies —
Sales or gross operating revenues:
INCLUDE the revenues earned from the sale of real estate you
own. Do not net the expenses against the revenues.
EXCLUDE
• Impairment losses as defined by FASB ASC 360 (FAS 144), and
• Goodwill impairment as defined by FASB ASC 350 (FAS 142).

C. Insurance companies —
Assets:
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.
2. Do not INCLUDE assets of the U.S. Reporter held in the country
of location of the affiliate and that are for the benefit of the U.S.
Reporter’s policyholders in the data reported for the affiliate.
Sales or gross operating revenues:
INCLUDE items such as earned premiums, annuity
considerations, gross investment income, and items of a similar
nature.
EXCLUDE
• Income from equity investments in unconsolidated business
enterprises, and
• Certain gains (losses).
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.

Page 4

FORM BE-11D (REV. 11/2020)

Summary of Industry Classifications
For a full explanation of each code see www.bea.gov/naics2017
Agriculture, Forestry, Fishing,
and Hunting
1110
1120
1130
1140
1150

Crop production
Animal production and aquaculture
Forestry and logging
Fishing, hunting, and trapping
Support activities for agriculture
and forestry

Mining
2111
2121
2123
2124
2125
2126
2127
2132

Oil and gas extraction
Coal
Nonmetallic minerals
Iron ores
Gold and silver ores
Copper, nickel, lead, and zinc ores
Other metal ores
Support activities for oil and gas
operations
2133 Support activities for mining, except
for oil and gas operations
Utilities
2211 Electric power generation,
transmission, and distribution
2212 Natural gas distribution
2213 Water, sewage, and other systems
Construction
2360 Construction of buildings
2370 Heavy and civil engineering construction
2380 Specialty trade contractors
Manufacturing
3111
3112
3113
3114
3115
3116
3117
3118
3119
3121
3122
3130
3140
3150
3160
3210
3221
3222
3231
3242
3243
3244
3251
3252
3253

Animal foods
Grain and oilseed milling
Sugar and confectionery products
Fruit and vegetable preserving and
specialty foods
Dairy products
Meat products
Seafood product preparation and
packaging
Bakery products and tortillas
Other food products
Beverages
Tobacco
Textile mills
Textile product mills
Apparel
Leather and allied products
Wood products
Pulp, paper, and paperboard mills
Converted paper products
Printing and related support activities
Integrated petroleum refining and
extraction
Petroleum refining without extraction
Asphalt and other petroleum and
coal products
Basic chemicals
Resins, synthetic rubbers, and
artificial and synthetic fibers and
filaments
Pesticides, fertilizers, and other
agricultural chemicals

FORM BE-11D (REV. 11/2020)

3254 Pharmaceuticals and medicines
3255 Paints, coatings, and adhesives
3256 Soap, cleaning compounds, and
toilet preparations
3259 Other chemical products and
preparations
3261 Plastics products
3262 Rubber products
3271 Clay products and refractories
3272 Glass and glass products
3273 Cement and concrete products
3274 Lime and gypsum products
3279 Other nonmetallic mineral products
3311 Iron and steel mills
3312 Steel products from purchased steel
3313 Alumina and aluminum production
and processing
3314 Nonferrous metal (except aluminum)
production and processing
3315 Foundries
3321 Forging and stamping
3322 Cutlery and hand tools
3323 Architectural and structural metals
3324 Boilers, tanks, and shipping containers
3325 Hardware
3326 Spring and wire products
3327 Machine shop products, turned products,
and screws, nuts, and bolts
3328 Coating, engraving, heat treating,
and allied activities
3329 Other fabricated metal products
3331 Agriculture, construction, and mining
machinery
3332 Industrial machinery
3333 Commercial and service industry
machinery
3334 Ventilation, heating, air-conditioning,
and commercial refrigeration equipment
3335 Metalworking machinery
3336 Engines, turbines, and power
transmission equipment
3339 Other general purpose machinery
3341 Computer and peripheral equipment
3342 Communications equipment
3343 Audio and video equipment
3344 Semiconductors and other
electronic components
3345 Navigational, measuring, electromedical,
and control instruments
3346 Manufacturing and reproducing
magnetic and optical media
3351 Electric lighting equipment
3352 Household appliances
3353 Electrical equipment
3359 Other electrical equipment and
components
3361 Motor vehicles
3362 Motor vehicle bodies and trailers
3363 Motor vehicle parts
3364 Aerospace products and parts
3365 Railroad rolling stock
3366 Ship and boat building
3369 Other transportation equipment
3370 Furniture and related products
3391 Medical equipment and supplies
3399 Other miscellaneous manufacturing

Wholesale Trade, Durable Goods
4231 Motor vehicle and motor vehicle
parts and supplies
4232 Furniture and home furnishing
4233 Lumber and other construction materials
4234 Professional and commercial
equipment and supplies
4235 Metal and mineral (except petroleum)
4236 Household appliances, and electrical and
electronic goods
4237 Hardware, and plumbing and heating
equipment and supplies
4238 Machinery, equipment, and supplies
4239 Miscellaneous durable goods
Wholesale Trade, Nondurable Goods
4241
4242
4243
4244
4245
4246
4247
4248

Paper and paper product
Drugs and druggists’ sundries
Apparel, piece goods, and notions
Grocery and related product
Farm product raw material
Chemical and allied products
Petroleum and petroleum products
Beer, wine, and distilled alcoholic
beverage
4249 Miscellaneous nondurable goods
Wholesale Trade, Electronic Markets
and Agents and Brokers
4251 Wholesale electronic markets and
agents and brokers
Retail Trade
4410
4420
4431
4440
4450
4461
4471
4480
4510
4520
4530
4540

Motor vehicle and parts dealers
Furniture and home furnishings
Electronics and appliance
Building material and garden
equipment and supplies dealers
Food and beverage
Health and personal care
Gasoline stations
Clothing and clothing accessories
Sporting goods, hobby, book, and music
General merchandise
Miscellaneous store retailers
Non-store retailers

Transportation and Warehousing
4810
4821
4833
4839
4840
4850
4863
4868
4870
4880
4920
4932
4939

Air transportation
Rail transportation
Petroleum tanker operations
Other water transportation
Truck transportation
Transit and ground passenger
transportation
Pipeline transportation of crude oil,
refined petroleum products,
and natural gas
Other pipeline transportation
Scenic and sightseeing transportation
Support activities for transportation
Couriers and messengers
Petroleum storage for hire
Other warehousing and storage

Page 5

Summary of Industry Classifications — Continued
For a full explanation of each code see www.bea.gov/naics2017
Information
5111 Newspaper, periodical, book,
and directory publishers
5112 Software publishers
5121 Motion picture and video industries
5122 Sound recording industries
5151 Radio and television broadcasting
5152 Cable and other subscription
programming
5173 Wired and wireless telecommunication
carriers
5174 Satellite telecommunications
5179 Other telecommunications
5182 Data processing, hosting, and related
services
5191 Other information services
Finance and Insurance

Professional, Scientific, and Technical
Services
5411 Legal services
5412 Accounting, tax preparation, bookkeeping,
and payroll services
5413 Architectural, engineering, and related
services
5414 Specialized design services
5415 Computer systems design and related
services
5416 Management, scientific, and technical
consulting services
5417 Scientific research and development
services
5418 Advertising, public relations, and related
services
5419 Other professional, scientific, and
technical services

5221 Depository credit intermediation (Banking)
5223 Activities related to credit intermediation
5224 Non-depository credit intermediation,
except branches and agencies
5229 Non-depository branches and agencies
5231 Securities and commodity contracts
intermediation and brokerage
5238 Other financial investment activities and
exchanges
5242 Agencies, brokerages, and other
insurance related activities
5243 Insurance carriers, except direct life
insurance carriers
5249 Direct life insurance carriers
5252 Funds, trusts, and other financial vehicles

Management of Companies and
Enterprises

Real Estate and Rental and Leasing

5616
5617
5619
5620

5310
5321
5329
5331

Page 6

Real estate
Automotive equipment rental and leasing
Other rental and leasing services
Lessors of nonfinancial intangible assets,
except copyrighted works

5512 Holding companies, except bank holding
companies
5513 Corporate, subsidiary, and regional
management offices
Administrative and Support, Waste
Management and Remediation Services
5611
5612
5613
5614
5615

Office administrative services
Facilities support services
Employment services
Business support services
Travel arrangement and reservation
services
Investigation and security services
Services to buildings and dwellings
Other support services
Waste management and remediation
services

Educational Services
6110 Educational services
Health Care and Social Assistance
6210
6220
6230
6240

Ambulatory health care services
Hospitals
Nursing and residential care facilities
Social assistance services

Arts, Entertainment, and Recreation
7110 Performing arts, spectator sports, and
related industries
7121 Museums, historical sites, and similar
institutions
7130 Amusement, gambling, and recreation
industries
Accommodation and Food Services
7210 Accommodation
7220 Food services and drinking places
Other Services
8110 Repair and maintenance
8120 Personal and laundry services
8130 Religious, grantmaking, civic,
professional, and similar organizations
Public Administration
9200 Public administration

FORM BE-11D (REV. 11/2020)