Updating Acquisitions Information

If your company had any acquisitions in the previous year, you can manually input the gross and net amounts and the system will not calculate the deferred taxes. You should also input any rate changes that resulted from acquisition information.

Acquisitions input app (NA1303)

Use this input app to manually input any temporary differences, net operating losses, credits, etc for any acquisitions.

The following is a summary of the standard Longview purchase accounting process:

• The system allows for multiple purchases during a year.
• For each period, there is an acquisition input app that allows you to input the following values for each temporary difference, carryforward, and credits for a company acquired in the current period.

This input app contains the following symbols in the Elements dimension (across):

• GrsAcqCur_IAS — Acquisitions Gross

  Use this Element to input the gross amount for the temporary difference at the date of acquisition for the national temporary differences.

• NetNAcqCur_IAS_Input — Acquisitions Net

  Use this Element to input the deferred tax amount for the national temporary differences.

• NetNRCAcqC_IAS_Input — Deferred Tax Impact

  Change in Tax Rates ACQCUR Use this Element to input the adjustment to the national deferred tax expense due to tax rate differences between the acquired tax assets and liabilities and the acquiring entity’s tax rate. It is common for the tax rate of the acquired company to be different than the acquirer, which therefore requires an adjustment to the national deferred tax expense.

To update acquisitions:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand National Annual.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NA1303 - Acquisitions.lvapp. The input app opens in the workspace.
5. Expand the TempT — Total Temporary Differences category and enter data for the following symbols:

   1. GTxxx — Company-specific: Company-specific temporary differences.

   2. STxxx — Company-specific: Company-specific STAT to Tax temporary differences.

6. Expand the LTCapLossT — Total Long Term Capital Loss Carryforward category and enter data for the following symbols:

   1. LTCapLossNC — Long Term Capital Loss Carryforward - Non-Current: Non-current long term capital losses carried forward from the previous year.

   2. LTCapLossCY — Long Term Capital Loss Carryforward - Current: Current long term capital losses carried forward from the previous year.

7. Expand the NLossT_IAS — Total Tax Loss category and enter data for the following symbols:

   1. NLossCYGA_IAS — Tax Loss – CY Generated – Adjustment: Manual adjustment for the calculated net operating loss.

   2. NLossCYU_IAS — Tax Loss – CY Utilized: Utilization of an existing net operating loss carryforward in the current period.

   3. NLossCA_IAS — Tax Loss - Consolidating Adjustment: Impact of any consolidated level adjustment to net operating losses at the legal entity level.

8. Expand the TaxCrT — Total Tax Credits - Temporary category and enter data for the following symbols:

   1. TaxCrForM — Foreign Tax Credits - Temporary – Manual: Temporary national foreign tax credits.

   2. NatTaxCrForCY — Creditable Foreign Tax Credits - Temporary: Creditable national foreign tax credits.

   3. NatTaxCrForNC — Non-creditable Foreign Tax Credits – Temporary: Non-creditable national foreign tax credits.

   4. TaxCrAMT — US Alternative Minimum Tax: US Alternative Minimum Tax (AMT).

   5. GenBusCr — General Business Credits: General business credits.

   6. TaxCrOth — Other Tax Credits - Temporary - Manual: Other temporary national tax credits.

9. Expand the SBPT — SBP’s - Total category and enter data for the following symbols:

   1. SBPIS — SBP’s – Income Statement: Share Based Payments – temporary difference income statement amounts.

   2. SBPEq — SBP’s – SORIE (equity): Share Based Payments – temporary difference equity/OCI amounts.

10. Expand the PensionT — Pensions – Total category, and enter data for the following symbols:

    1. PensIS_IAS — Pensions: Pensions – temporary difference income statement amounts.

    2. PensEQ_IAS — Pensions – SORIE: Pensions – temporary difference equity/ other comprehensive income amounts.

11. When you are finished, click Submit.