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Biotech / Medical : New Brunswick Scientific Co., Inc. (NBSC)
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To: quidditch who wrote (402)2/13/2002 8:38:04 PM
From: scaram(o)uche  Read Replies (1) of 724
 
I don't really understand what you're asking, but does this help?.........

This transaction reduced the Company's ownership
interest in DGI to 47%. Accordingly, effective June 14, 2001, as required by
generally accepted accounting principles, the Company no longer exercises
control and ceased consolidating the operations of DGI but reports its
percentage of income or loss in DGI's operations on the equity method of
accounting based upon its continued ability to exercise significant influence
over DGI. The Company is not required to, and will not record losses from its
share of DGI's operations beyond the carrying value of its investment since it
has no further obligations to fund the DGI operations. As of June 30, 2001, the
Company's investment in DGI amounted to $410,000 and is included in Other Assets
in the Company's consolidated balance sheet.

They were both writing off the value of the original investment in DGI *and* expensing DGI operations. They were minority owners at the beginning of this quarter, so no more DGI R&D costs. And they only had 34K left to write down.

As for the plant and property, DGI is now carried at cost as an asset.

I think that's correct. Not certain that I've used correct wording.
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