10-K question Williams companies
Not sure if this question belongs here but I can't figure out where else it ought to go.
In the most recent 10-k of WMB, after the notes to the statements, there another set of financial data labeled "parent". I don't understand what this is? There isn't another public company above WMB as far as I can tell so what does this mean? Should I be looking at these numbers instead of the regular statements?
The net income seems to be the same but assets and liabilities are different hence the question.
WMB is the parent. The "parent-only" statements are the financial statements for just the legal entity WMB. The consolidated financial statements include WMB as well as all subsidiaries that have to be reported on a consolidated basis. Here's a blog post from Damodaran choosing which to use:
http://aswathdamodaran.blogspot.com/2010/06/parent-versus-consolidated-…
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