Minority Interest and EV
Hi there, quick question for you all - why do we need to add Minority Interest to Equity value when calculating TEV if minority interest expenses are already deducted off of the income statement? Don't all companies already deduct from the income statement? If so, why would we need to add minority interests to facilitate the apples-to-apples comparison for multiples like EV/EBITDA, etc? Or is the noncontrolling interest expense deducted past the interest part of the income statement, so it's not caught in EBIT/EBITDA/Sales, etc?
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