01
What the filing gives.
Note 27 prints five columns: the parent, the guarantor subsidiaries, the non-guarantor subsidiaries, the eliminations, and the consolidated total. We uploaded the first three as trial balances in Outlane's Excel template, one file per company, and left the last two for Outlane to work out.
02
Intercompany first.
We ticked the intercompany receivable and payable on the Entities page: $125.9M on each side came out, and sales and total liabilities matched the filing.
Net income was still $29.7M too high, and total assets $477.1M too high. The parent's equity in its subsidiaries' earnings, and its investment in them, were still counted as well as the subsidiaries' own figures.
03
The equity method, and a tie-out that caught us.
Ticking equity earnings and investments in subsidiaries takes them out. The equity accounts share one number across the group, so ticking that account took the parent's own equity out too. Outlane's intercompany tie-out failed and said so, and the review stayed a draft.
We set that account to be eliminated at the subsidiaries only. The tie-out passed.
04
All five tested consolidated totals match.
| $ thousands | Filed, consolidated | Outlane | |
|---|---|---|---|
| Net sales | 926,969 | 926,969 | ✓ |
| Net income (loss) | (12,022) | (12,022) | ✓ |
| Total assets | 503,962 | 503,962 | ✓ |
| Total liabilities | 548,801 | 548,801 | ✓ |
| Stockholders’ equity (deficit) | (44,839) | (44,839) | ✓ |
This comparison runs as an automated test on every change to Outlane. A change that moved any of these figures would not ship.
What it took
- Three uploads, one per company
- Five accounts ticked once on the Entities page
- One of them, the shared equity account, set to eliminate at the subsidiaries only
- No elimination entries typed by hand