Originally Posted by
LaserEyeKiwi
See above - you need to take out the one third of CDL assets that belong to other CDL shareholders from the group consolidated balance sheet.
For example, the current situation (using the new “cost” value for hotel operations and sydney real estate holdings):
Group assets: $680,796,000
Group liabilities: $62,997,000
Group Net Assets: $617,799,000
CDL assets: $274,290,000 (residential land development) + $23,332,000 (Investment Property) = $297,622,000
CDL liabilities: $11,242,000
CDL Net Assets: $286,380,000
(MCKs holds 66.29% of CDL shares)
33.71% of CDL Assets belonging to CDL shareholders: $96,538,000
Group Net Assets less CDL shareholders minority interest: $521,261,000