C 54, Q3: BE -15 (SF)/2003
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OMB No. 0608.0034. Approval Expires 10/31/2006
U.S. DEPARTMENT OF COMMERCE
ºº::1 5(SF) BUREAU OF ECONOMIC ANALYSIS
ANNUAL SURVEY
OF FOREIGN DIRECT
INVESTMENT IN THE
UNITED STATES – 2003
(SHORT FORM)
BEAUSE ONLY | control number
Public reporting burden for this short form is estimated to vary from 1.5 to 10
hours per response, with an average of 4 hours per response, including the
time for reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the collection of
information. Send comments regarding this burden estimate or any other
aspect of this collection of information, including suggestions for reducing this
burden, to Director, Bureau of Economic Analysis (BE-1), U.S. Department of
Commerce, Washington, DC 20230; and to the Office of Management and
Budget, Paperwork Reduction Project 0608-0034, Washington, DC 20503.
DUE DATE: MAY 31, 2004
ELECTRONIC See our web site at
FILING www.bea.gov/astarl for details.
OR
MAIL U.S. Department of Commerce
REPORTS Bureau of Economic Analysis
TO BE-49(A)
Washington, DC 20230
OR
DELIVER U.S. Department of Commerce
REPORTS Bureau of Economic Analysis, BE-49(A)
TO Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005
PENALTIES – Whoever fails to report shall be subject to a civil penalty of not
less than $2,500, and not more than $25,000, and to injunctive relief
commanding such person to comply, or both. Whoever willfully fails to report
shall be fined not more than $10,000 and, if an individual, may be imprisoned
for not more than one year, or both. See additional information on page 11.
CONFIDENTIALITY – The Act provides that your report to this Bureau is
CONFIDENTIAL and may be used only for analytical or statistical purposes.
Without your prior written permission, the information filed in your report
CANNOT be presented in a manner that allows it to be individually identified.
Your report CANNOT be used for purposes of taxation, investigation, or
regulation. Copies retained in your files are immune from legal process.
part Tsºon RTIDENTIFICATION OFUSTAFFIATE
1. Name and address of U.S. affiliate — If there are any changes in
the name or address, make the changes directly on the label. If no
label has been affixed, enter the name and address in full.
IMPORTANT
Read the Instructions starting on page 11 before
completing this form. The instructions below are
only a brief summary. Definitions of key terms
used in this report are found on page 13.
Insurance and real estate companies — See
special instructions on page 17.
Additional instructions by line item are at the
back of this form starting with section IV of the
instructions on page 13.
Name of U.S. Affiliate
1002 || 0
C/o (care of)
1010 || 0
Street or P.O. Box
1003 || 0
City, State, and Country (if foreign)
A. WHO MUST REPORT – See Instruction I.A.
starting on page 11.
B. U.S. AFFILATE'S 2003 FISCAL YEAR — The
affiliate's financial reporting year that
had an ending date in calendar year 2003.
C. CONSOLIDATED REPORTING – A U.S.
affiliate must file on a fully consolidated
domestic U.S. basis, including in the
consolidation all nonbank U.S. affiliates in
which it directly or indirectly owns more than
50 percent of the outstanding voting interest.
º consolidation rules are found on pages 13
and 14.
D. ASSISTANCE – E-mail: be 12/15Ghea.gov;
Telephone (202) 606–5577; FAX: (202) 606–5319.
E. GENERAL INOTES
1. Report currency amounts in U.S. dollars
rounded to thousands (omitting 000). Do not
enter amounts in the shaded portions of
each line.
EXAMPLE – If amount is $1,334,891.00,
report as
Bil. Mil. Thous. Dols.
1 335,
2. References in the instructions to Financial
Accounting Standards Board statements are
referred to as "FAS."
1004 || 0
U.S. ZIP Code Foreign Postal Code
1005 || 0 O
OR
2. Consolidated reporting by the U.S. affiliate — The consolidation
rules are found on pages 13 and 14.
is more than 50 percent of the voting interest in this U.S.
affiliate owned by another U.S. affiliate of your foreign
parent?
1400 '1 DYes
'2D No
If the answer is "Yes" — Do not complete this report unless
exception 2d or 2e described in the consolidation rules on
page 14 applies. If neither of these exceptions applies, please
forward this BE-15 survey packet to the U.S. business
enterprise owning your company more than 50 percent, and
notify BEA of the action taken by filing Form BE-15
Supplement C with item 2(b) completed.
If the answer is "No" — Complete this report in accordance with the
consolidation rules on pages 13 and 14.
3. Enter Employer Identification Number(s) used by the U.S. affiliate to
file income and payroll taxes.
Primary Other
1006 || 1 2
4. REPORTING PERIOD — Reporting period instructions are found on
MANDATORY — This survey is being conducted
pursuant to the international Investment and Trade
in Services Survey Act (P.L., 94-472, 90 Stat. 2059,
22 U.S.C. 3101-3108, as amended — hereinafter "the
Act") and the filing of reports is mandatory
ºn to Section 5(b)(2) of the Act (22 U.S.C.
3104).
page 14.
This U.S. affiliate's 2003 fiscal year ended in Month Day Year
calendar year 2003 On > 1007 || 1
Example — If the fiscal year ended on March
31, report for the 12 month period ended
March 31, 2003.
REPORT — Enter name and address
*E*@N TO CONSULTCQNGERNING OUESTIONS ABOUT THIS |cERTIEicATIon — The undersigned official certifies that this report
has been prepared in accordance with the applicable instructions, is
Name 1000|º
complete, and is substantially accurate except that, in accordance with
Instruction III.D on page 13, estimates may have been provided.
Address
Authorized official's signature Date
TELEPHONE '99" | 0 Area code Number Extension | Print or type name and title
NUMBER
0999 || 0 Area code Number Telephone number FAX number
FAX NUMBER
information about your company that you may consider
May we use e-mail to correspond with you to discuss questions
relating to this Form BE-15(SF), including questions that may contain
confidential? (Note that electronic mail is not inherently confidential; 1
we will treat information we receive as confidential, but your e-mail 2 ſ NO
is not necessarily secure against interception by a third party.)
1 E-mail address
1027 1 T Yes – If yes, please O
provide your
e-mail address. –-

5. Did the U.S. business enterprise become a U.S. affiliate during its
IDENTIFICATION OF U.S. AFFILEATE – Continued
Section B – OWNERSHIP AND INDUSTRY CLASSIFICATION OF U.S. AFFILIATE
fiscal year that ended in calendar year 2003?
1 Monthſ Da Year
toos, 1 ||Yes If "Yes" — Enter date U.S. business enterprise 1009 y
2 [T] NO became a U.S. affiliate and see instruction 5 on page 14. —- 1
NOTE – For a U.S. business enterprise that became a U.S. affiliate during its fiscal year that
ended in calendar year 2003, report the close FY 2002 data columns as zero.
6. Is the U.S. affiliate named in item 1 separately incorporated in the United
States, including its territories and possessions?
1
1011 1 | Yes
1
2 T No – Reporting rules for unincorporated affiliates are found in instruction 6 starting on page 14. Reporting rules for
real estate are found in instruction V.C. on page 17.
7. U.S. affiliates fully consolidated in this report – The consolidation rules are found on pages 13 and 14.
If this report is for a single U.S. affiliate, enter "1" in the box below. If more than one U.S. affiliate is consolidated in this
report, enter the number of U.S. affiliates consolidated. Hereinafter, they are considered to be one U.S. affiliate. Exclude
from the consolidation all minority-owned U.S. business enterprises, and all foreign business enterprises owned
by this U.S. affiliate. Include unconsolidated businesses on the equity basis, or cost basis if less than 20 percent owned.
Except as noted in the consolidation rules on pages 13 and 14, more-than-50-percent-owned U.S. affiliates must be fully
consolidated in this report unless permission has been received in writing from BEA to do otherwise; those not consolidated
should file a separate Form BE-15(LF), BE-15(SF), or BE-15 Supplement C.
1012 || 1
Number — If number is greater than one, complete the Supplement A.
8. U.S. affiliates NOT consolidated — See instruction 8 on page 15.
Number of U.S. affiliates in which this U.S. affiliate has an ownership interest that ARE NOT fully consolidated in this report.
1013 || 1 Number – If number is not zero, complete the Supplement B. The U.S. affiliate named in item 1 must include data for
unconsolidated U.S. affiliates in this report on an equity basis, or a cost basis if less than 20 percent owned, and must notify the
unconsolidated U.S. affiliates of their obligation to file a Form BE-15(LF), BE-15(SF), or BE-15 Supplement C in their own names.
Ownership — Enter percent of ownership, in this U.S. affiliate, to a tenth of one REPORTING PERIOD
percent, based on voting stock if an incorporated affiliate or an Country of incorporation
equivalent interest if an unincorporated affiliate. "Voting or organization, if a BEA
interest" is defined in instructions 9-13 on page 15. business enterprise, Or USE
residence, if an individual.
For individuals, See CIOSe FY 2003 CIOSe FY 2002 ONLY
instruction V.F.
Ownership held directly by all foreign parents of this affiliate — on page 18.
Give name of each (if more than 2, continue on a separate sheet). (1) (2) (3)
0 1 2 3
9. 3011 1017 g % º %
1 2 3
10. 1018 . 9% º %
Ownership held indirectly by all foreign parents of this U.S. affiliate Country of foreign
through another U.S. affiliate — Give name of each higher tier U.S. affiliate parent of each
that owns this U.S. affiliate (if more than 2, continue on a separate sheet). U.S. affiliate
1 2 3
11. 1063 * } % g %
1 2 3
12. 1064 in % º %
1 2
13. Ownership held directly by all other persons (do not list names) 1061 % º %
TOTAL of ownership interests — Sum of items 9 through 13 > 100.0% 100.0%
14. Enter the name and industry code of the foreign parent. If more than one foreign parent, list each and its industry code on a
separate sheet. The foreign parent industry code is based on the primary activity of the single entity named as the foreign parent.
DO NOT base the code on a world-wide consolidation.
sº <- tº gº Enter foreign parent industry
Enter name of foreign parent if not already entered in item 9 above. code from this list on page 5.
O 11
3011 3018
15.
For each foreign parent, furnish the name, country and industry code of the ultimate beneficial owner (UBO). (See instruction II.O. on
page 13 for the definition of UBO.) If the UBO is an individual, a name need not be given in 15b, but country of residence of the UBO
must be given in 15c. If there is more than one foreign parent, list each on a separate sheet and give the name of its UBO, and the UBO's
country and industry codes.
15a. is each foreign parent also the ultimate beneficial owner (UBO)?
3019 1 1 [º] Yes — Skip to 15a.
1
2||No-Continue with 15b.
15b. Enter name of UBO of foreign parent if foreign parent is not also the UBO. Identifying the UBO as "bearer shares" is not an acceptable response.
0
3021
15c. Enter country of UBO if foreign parent is not also the UBO. For individuals, see instruction V.F. on page 18. BEA USE ONLY
O 1
3022
15d. Enter industry code of the UBO from the list of codes on page 5. NOTE - UBO industry code is based on the
UBO's world-wide consolidated sales. Code "14" (holding company) is normally NOT a valid UBO industry code.
1
3023
Page 2 FORM BE-15(SF) (REV. 2/2004)

Part TIDENTIFICATION OF U.S. AFFILIATEF Continued
16. Major product(s) or service(s) of fully consolidated U.S. affiliate — Briefly describe the major product(s) and/or service(s) of the U.S.
affiliate. If a product, also state what is done to it, i.e., whether it is mined, manufactured, sold at wholesale, transported, packaged, etc. (For
example, "manufacture widgets.")
1163 || 0
Industry classification of fully consolidated U.S. affiliate (based on sales or gross operating revenues) — Enter the 4-digit international
surveys industry (ISI) code(s) and the sales (as defined in item 22 below) associated with each code. For a full explanation of each code, see the
Guide to Industry and Foreign Trade Classifications for International Surveys, 2002. If you use fewer than four codes, you must account for total
sales in items 17 through 19. For an inactive affiliate, show the industry classification(s) based on its last active period; for "start-ups" with no
sales, show the intended activity(ies).
Holding companies (ISI code 5512) should show total income. Note – a U.S. affiliate that is a conglomerate |S| code Sales
must determine its industry code based on the activities of the fully consolidated U.S. business enterprise. (2)
The "holding company" classification, therefore, is often an invalid industry classification for a conglomerate. - e |
(1) Bil. Mil. Thous. Dols.
Book publishers, printers, and Real Estate Investment Trusts — See instructions for items 17–22 on page 15. In 2
17. Enter code with largest sales 1164 $ |
1 2 |
|
18. Enter code with 2nd largest sales 1165 |
1 2 |
19. Enter code with 3rd largest sales 1166
1 2 I
|
20. Enter code with 4th largest sales 1167 |
2 ſ
|
21. Sales not accounted for above — item 20 must have an entry 1173 |
22. TOTAL SALES — Gross sales minus returns, allowances, and discounts; or gross |
operating revenues. Exclude sales or consumption taxes levied directly on the |
consumer and excise taxes levied directly on manufacturers, wholesalers, and |
retailers. Include revenues generated during the year from the operations of a 1 2 |
discontinued business segment. However, EXCLUDE gains or losses on DISPOSALS of |
discontinued operations. Report such gains and losses on line 32b. — Equals sum of |
items 17 through 21, column (2). }> 1174 $
SELECTED FINANCIAL AND OPERATING DATA OF U.S. AFFILEATE
Report all amounts in thousands of U.S. dollars. Balances
Section A – BALANCE SHEET ITEMS Close FY 2003
NOTE – Report investment in all unconsolidated U.S. affiliates and foreign business enterprises owned 20 percent or e - (1) i
more (including those that are majority-owned) on an equity basis to include equity in undistributed earnings since Bil. Mil. Thous. Dols.
acquisition; for U.S. affiliates and foreign business enterprises owned less than 20 percent, report at cost. 1 |
23. Total assets 2109 || $
1 I
|
24. Total liabilities |
2114 |
m as 2114 1 |3
Please check box if total liabilities are zero.
1 |
|
25. Total owners' equity — Item 23 minus item 24 2120 | $ |
Section B – OTHER FINANCIAL AND OPERATING DATA Amount
(1)
Bil. Mil. Thous. Dols.
1
26. Net income (loss) — After provision for U.S. Federal, State, and local income taxes 2159 || $
27. Total employee compensation for FY 2003 — Employees' gross earnings (before payroll deductions). Include all
direct and in-kind payments by the employer to employees, and employer expenditures for all employee benefit
plans, including those required by government statute, those resulting from collective bargaining contracts, or those
that are voluntary. Base compensation on payroll records. Employee compensation must cover compensation
charged as an expense on the income statement, charged to inventories, or capitalized during the reporting period.
EXCLUDE compensation related to activities of a prior period, such as compensation capitalized or charged to
inventories in prior periods. See instruction 27 on page 15 for more details of what to include on this line. 2253
28. Expenditures for property, plant, and equipment for FY 2003 — Include expenditures for land, mineral 1
rights including timber, plant, equipment, and other property, wherever carried on the balance sheet. Include
the net book value of transfers in, and capitalized and expensed exploration and development expenditures.
EXCLUDE expenditures made in prior years that are reclassified in the current year. Do not net sales, other
dispositions, or other charges against expenditures. 2390
29. Research and Development (R&D) expenditures for R&D performed BY the U.S. affiliate — Report all 1
R&D performed BY the U.S. affiliate for its own account or for others, including the foreign parent and foreign
affiliates of the foreign parent. Include all cost incurred in performing R&D, including depreciation, amortization,
wages and salaries, taxes, materials and supplies, overhead – whether or not allocated to others – and all other
indirect costs. EXCLUDE the cost of all R&D funded by the U.S. affiliate but performed by others, such as the
U.S. affiliate's allocated share of R&D performed by the foreign parent or foreign affiliates of the foreign parent.
See instruction 29 on page 15 for more details of what to include on this line. 2403
EXPORTS AND IMPORTS OF U.S. AFFILIATE
NOTE – Report amounts on a "shipped basis." See instruction 30–31 starting on page 15 for details of what to
include on these lines.
30. TOTAL EXPORTS, INCLUDING CAPITAL GOODS — Shipped by U.S. affiliate to foreign 1
persons (valued f.a.s. U.S. port) in the FY that ended in calendar year 2003. >- 2502 || $
31. TOTAL IMPORTS, INCLUDING CAPITAL GOODS – Shipped to U.S. affiliate by foreign 1
persons (valued f.a.s. foreign port) and received in the FY that ended in calendar year 2003. 3- 2515 $
1
BEA USE ONLY
2598
1200 || 2 3 4 5
1201 || 2 3 4 5
1202 |1 2 3 4 5
1203 |1 2 3 4 5
FORM BE-15(SF) (REV. 2/2004) Page 3

part II TSELECTED FINANCIAL AND OFERATING DATA of U.S. AFFLIATE-continued
Report all amounts in thousands of U.S. dollars.
32a. Did the ownership (both direct and indirect) by ALL foreign parents in the voting securities (or an
equivalent interest) of this U.S. affiliate EXCEED 50 percent as of the end of the U.S. affiliate's fiscal
year that ended in calendar year 2003?"Voting interest" is defined in instructions 9–13 on page 15.
1
110 '1 ||Yes-Answer items 32b. through 32e.
1 2 | No — Skip to item 33a.
NOTE: Complete items 32b. through 32e. ONLY if item 32a. is answered "Yes"
Amount
(1)
Bil. Mil. Thous. Dols.
32b. Certain realized and unrealized gains (losses), included in item 26, net income (loss). Report at gross
1
|
amount before income tax effect. See instruction 32b. on page 16 for details of what to include on this line. 2151 $ |
|
32c. Income taxes – Provision for ALL U.S. Federal, State, and local income taxes. Include income tax effect of certain 1 |
realized and unrealized gains (losses) reported on line 32b. Exclude production royalty payments. 2156 l
|
32d. Interest |
1
Interest income from all sources (including from foreign parents and affiliates), after deduction of |
taxes withheld at the source. Do not net against interest expense (item 32e). 2400 |
32e. Interest expense plus interest capitalized, paid or due to all payees (including foreign parents and 1 |
affiliates), before deduction of U.S. tax withheld by the affiliate. Do not net against interest income (item 32d). $ |
2401
1 |
BEA USE ONLY 2599 |
Section C — SCHEDULE OF EMPLOYMENT AND PROPERTY, PLANT, AND EOUIPMENT, BY LOCATION
'2||No-Answer item 33b. below.
33a. Copy your answer from item 32a. above to the appropriate box below and follow the applicable instructions.
1 101 11 [T] Yes – Provide data for up to five primary States in which this affiliate has reportable data. If the affiliate
has operations in more than five states, sum the data for the remaining states on line 44. Skip item 33b.
33b. Did any one of the items – Total assets, Sales, or gross operating revenues, or Net income (loss) – for the U.S. affiliate (not just
the foreign parent's share) exceed $125 million at the end of, or for, its fiscal year that ended in calendar year 2003?
1102 11 D Yes – Provide data for up to ten primary States in which this affiliate has reportable data. If the
affiliate has operations in more than ten states, sum the data for the remaining states on line 44.
12 [T] No – Provide data for up to five primary States in which this affiliate has reportable data. If this
affiliate has operations in more than five states, sum the data for the remaining states on line 44.
In column (4), include all employees on the payrolls of operating
manufacturing plants in the State. Include administrative office and other
auxiliary employees located at an operating plant and serve only that plant.
Exclude all other employees on the payrolls of administrative offices or other
auxiliary units. Administrative office and other auxiliary employees are defined
in item 46 below.
Complete the schedule below for the five or ten States, etc. in which the U.S. sheet accounts. Include land held for resale, for investment purposes, and all
affiliate has reportable data. If the U.S. affiliate has activities in more than five or other land owned. Include land and other property, plant, and equipment on
ten States, report those five or ten States for which the gross book value of all capital lease from others, but exclude that on capital lease to others. Include
land and other property, plant, and equipment (column (5)) is largest. If column property you own that you lease to others under operating leases. Value land
(5) is zero or insignificant, use the number of employees at the close of fiscal and other property, plant, and equipment at historical cost before any
year 2003 (column(3)), to determine the five or ten primary States. allowances for depreciation or depletion.
In column (3), include all employees on the payroll at the end of the fiscal year
that ended in calendar year 2003, including part-time employees. A count taken In column (6), include the gross book value of commercial property you own,
at some other date during the reporting period may be given provided it is a and commercial property you use or operate that is leased from others under a
reasonable estimate of the number on the payroll at the end of the fiscal year. capital lease. Commercial property includes all buildings and associated land
Reporting employment (including how to report when employment is subject to leased or rented to others under operating leases. Commercial property
unusual variations) is discussed in more detail in instructions 33–45 starting on includes apartment buildings; office buildings; hotels; motels; and buildings
page 16. used for wholesale, retail, and services trades, such as shopping centers,
recreational facilities, department stores, bank buildings, restaurants, public
garages, and automobile service stations. Include the value of land associated
with these buildings. Include office buildings and associated land owned by
industrial companies NOT located at industrial sites. Exclude furniture and
equipment located at commercial property. Exclude property you use for
agricultural, mining, manufacturing, or other industrial purposes, property you
use to support these activities, such as research labs and warehouses, and
In column (5), include land and other property, plant, and equipment items, office buildings located in industrial sites. Also exclude educational buildings,
whether carried as investments, in fixed asset accounts, or in other balance hospital and institutional buildings, and all undeveloped land.
STATE – Enter name The .. of º º ſº º
employees in COSt) Of all and and Other g
If applicable, enter name of U.S. territory BEA º column (3) that property, plant, and . Tºº (5)
or possession, or U.S. offshore oil and gas USE . § 2003 are equipment wherever carried ropert
sites, on the lines below. Additional ONLY manufacturing on balance sheet, FY 2003 property
instructions for items 33–45 are found starting on employees closing balance.
page 16. (3) (4) (5) (6)
(1) (2) Number Number Bil. Mil. Thous. | Bil. Mil. Thous.
2 3 4. 5 6
34. $ $
2 3 4. 5 6
35.
2 3 4. 5 6
36.
2 3 4 5 6
37.
2 3 4 5 6
38.
2 3 4. 5 6
39.
2 3 4. 5 6
40.
2 3 4 5 6
41.
2 3 4 5 6
42.
2 3 4 5 6
43.
44. Employment and property, plant, and 2 3 4 5 6
equipment not accounted for above 2764
45. TOTAL – Sum of items 34 2 3 4 5 6
through 44 2700 $ $
46. Number of employees included in line 45 column 3 of administrative offices and other auxiliary units – Number
Include employees at corporate headquarters, central administrative, and regional offices located in the U.S. that provide
administration and management or support services for the consolidated U.S. affiliate. Support services include
accounting, data processing, legal, research and development and testing, and warehousing. Also include employees
located at a U.S. operating unit that provide administration and management or support services to more than one U.S.
operating unit. EXCLUDE employees located at a U.S. operating unit that provide administration and management or 3
support services for only that unit. 1 178
Page 4
FORM BE-15(SF) (REV. 2/2004)
FOREIGN PARENT AND UBO INDUSTRY CODES
Note: "ISI codes" are International Survey Industry codes, as given in the Guide to Industry and Foreign Trade
Classification for International Surveys, 2002.
O1
O2
O3
O4
O5
Government and government-owned or -sponsored enterprise, or quasi-government organization
Or agency
Pension fund — Government run
Pension fund — Privately run
Estate, trust, or nonprofit organization (that part of ISI code 5252 that is estates and trusts)
Individual
Private business enterprise, investment organization, or group engaged in:
O6
O7
O8
O9
1 O
11
12
13
14
15
16
17
18
19
Insurance (ISI codes 5242, 52.43, 5249)
Agriculture, forestry, fishing and hunting (ISI codes 1110–1140)
Mining (ISI codes 2111–2127)
Construction (|S| codes 2360—2380)
Transportation and warehousing (ISI codes 4810–4939)
Utilities (|S| codes 221 1–2213)
Wholesale and retail trade (ISI codes 4231–4251 and 4410–4540)
Banking, including bank holding companies (ISI codes 5221 and 5229)
Holding companies, excluding bank holding companies (ISI codes 5512 and 5513)
Other finance (ISI codes 5223, 5224, 5231, 5238, that part of ISI code 5252 that is not estates and
trusts, and |S| code 5331)
Real estate (ISI code 5310)
Information (|S| codes 5111–5191)
Professional, scientific, and technical services (ISI codes 5411–5419)
Other services (ISI codes 1150, 2132, 2133, 5321, 5329, and 5611–8130)
Manufacturing, including fabricating, assembling, and processing of goods:
2O
21
22
23
24
25
26
27
28
29
30
31
32
Food (ISI codes 311 1–3119)
Beverages and tobacco products (ISI codes 3121 and 3122)
Pharmaceuticals and medicine (ISI code 3254)
Other chemicals (ISI codes 3251–3259, except 3254)
Nonmetallic mineral products (ISI codes 3271–3279)
Primary and fabricated metal products (ISI codes 3311–3329)
Computer and electronic products (ISI codes 3341–3346)
Machinery manufacturing (ISI codes 3331–3339)
Electrical equipment, appliances, and components (ISI codes 3351–3359)
Motor vehicles and parts (ISI codes 3361–3363)
Other transportation equipment (ISI codes 3364–3369)
Other manufacturing (ISI codes 3130–3231, 3261, 3262, 3370–3399)
Petroleum manufacturing, including integrated petroleum and petroleum refining without
extraction (ISI codes 3242–3244)
FORM BE-15(SF) (REV. 2/2004)
Page 5
REMARKS - Please use this space for any explanation that may be essential in understanding your reported data.

Page 6 FORM BE-15(LF) (REV. 2/2004)

OMB No. 0608.0034. Approval Expires 10/31/2006
:
tº U.S. DEPARTMENT OF COMMERCE
LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE Name of U.S. affiliate as shown in item 1, Part | of BE-15(SF)
NOTE – If you filed a Supplement A or a computer printout of Supplement A with your 2002 BE-12 report, in lieu of completing a new
Supplement A, you may substitute a copy of that Supplement A or computer printout that has been updated to show any
additions, deletions, or other changes.
Supplement A must be completed by a reporting affiliate that consolidates financial and operating data of any other U.S. affiliate(s). The number of U.S. affiliates 5110 || 1
listed below plus the reporting U.S. affiliate must agree with item 7, Part of Form BE-15(SF). Continue listing onto as many additional copied pages as necessary. Primary Employer Identification Number as shown in item 3, Part I of BE-15(SF) m
Percentage of direct voting
Employer identification Number used e g g m ownership that the U.S. affiliate
BEAUSE ONLY Name of each U.S. affiliate consolidated (as represented in item 7, Part I) by U.S. affiliate listed in column (2) to Nº. ºship listed in Column (4) holds in the
file income and payroll taxes a vºw a U.S. affiliate listed in Column (2). —
Enter percentage to nearest tenth.
(1) (2) (3) (4) (5)
1 2 3 4 5
5111 tº- , 9%
1 2 3 4 5
51 12 * , 9%
1 2 3 4 5
5113 sº- , 9%
1 2 3 4 5
5114 * , 9%
1 2 3 4 5
5115 - , 9%
1 2 3 4 5
5116 * %
1 2 3 4 5
51 17 wº- %
1 2 3 4 5
5118 tº- . 9%
1 2 3 4 5
5119 wº- - . 9%
1 2 3 4. 5
5120 &m %
1 2 3 4 5
51.21 - , 9%
1 2 3 4 5
5122 * &=º , 9%
1 2 3 4 - 5
5.123 e- , 9%
1 2 3 4 5
5124 e- , 9%
1 2 3 4 - 5
5.125 * , 9%
1 2 3 4 5
5126 &= %
1 2 3 4 5
5127 &= %
1 2 3 4 5
5128 «- %
1 2 3 4 5
5129 * %
1 2 3 4 5
5130 wº- %
1 2 3 4 5
51.31 <-- %
1 2 3 4 5 O
5,132 *--> %
1 2 3 4 5
5133 *- %

#
BE-15(SF) Supplement A (2003) - LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE – Continued
Page number >
BEA USE ONLY
(1)
Name of each U.S. affiliate consolidated (as represented in item 7, Part I)
(2)
Employer lientification Number used
by U.S. affiliate listed in column (2) to
file income and payroll taxes
(3)
Name of U.S. affiliate that holds the direct ownership
interest in the U.S. affiliate listed in column (2)
(4)
Percentage of direct voting
ownership that the U.S. affiliate
listed in column (4) holds in the
U.S. affiliate listed in column (2), —
Enter percentage to nearest tenth.
(5)
5134
5
%
5135
%
5136
5137
5138
5139
5140
5141
%
5142
%
5143
%
5144
%
5145
%
5146
%
5147
%
5148
%
5149
%
5150
%
5151
%
5152
%
5153
%
5154
%
5155
%
5156
%
5157
%
5158
%
5159
%

0MB No. 0608-0034: Approval Expires 10/31/2006
FoRMBE-15(SF) Supplement B (2003) U.S. BiºMFN.3.9%; BEAUSE ONLY D | | Page number D |
" * List of Allus. AFFLATES IN.WHICH THE REPORTING AFHLATE (AsconsolidateD HAs Abirect Name of U.S. affiliate as shown in item 1, Part | of BE-15(SF)
OWNERSHIP INTEREST BUT WHICH ARE NOT FULLY CONSOLIDATED
NOTE – If you filed a Supplement B or a computer printout of Supplement B with your 2002 BE-12 report, in lieu of completing a new Supplement B, you may
Substitute a copy of that Supplement B or computer printout that has been updated to show any additions, deletions, or other changes.
Supplement B must be completed by a reporting affiliate which files a BE-15(SF) and has a direct ownership interest in a U.S. affiliate(s) which is (are) not fully consolidated. The number of
U.S. affiliates listed below must agree with item 8, Part I, of BE-15(SF). Continue listing onto as many additional copied pages as necessary.
;
Percentage of direct voting
Has affiliate tº - a - ownership interest that the fully
* * * Employer Identification Number - - - -
BEAUSE ONLY Name of each U.S. affiliate in which a direct interest Address of each U.S. affiliate listed in Column (2) º . used by U.S. aff liate listed in º º
is held but that is not listed in Supplement A Give number, street, city, State, and ZIP Code ; Column (2) to file income and ÉÉišSF holds in the U.S.
Mark (X) one payroll taxes affiliate listed in column (2), —
Enter percentage to nearest tenth.
(1) (2) (3) (4) (5) (6)
1 2 3 4 5 6
1||Yes
62.11 2 [T] No - , 9%
1 2 3 4 5 6
1||Yes
2[ ] No - %
6212 º
1 2 3 4. 5 6
1||Yes
2[ ] No - %
6213 -
1 2 3 4 5 6
1||Yes
2[ ] No -č %
6214
1 2 3 4 5 6
1||Yes
2D.No - , 9%
6215
1 2 3 4 5 6
1||Yes
2D.No - %
6216 -
1 2 3 4 5 6
1||Yes
2 [T] No - 9%
621.7
1 2 3 4 5 6
1||Yes
2[ ] No - . 9%
6218
1 2 3 4. 5 6
1||Yes
2D JNo - , 9%
62.19
1 2 3 4 5 6
1||Yes
2| No - %
6220
1 2 3 4 5 6
1||Yes
2[ ] No - , 9%
622

º
BE-15(SF) Supplement B (2003) - LIST OF U.S. AFFILIATES – Continued
Page number
BEAUSE ONLY
Name of each U.S. affiliate in which a direct interest
is held but which is not listed in Supplement A
Address of each U.S. affiliate listed in Column (2)
Give number, street, city, State, and ZIP Code
Has affiliate
been notified
of obligation to
Employer Identification Number
used by U.S. affiliate listed in
Column (2) to file income and
Percentage of direct voting
Ownership interest that the fully
Consolidated U.S. affiliate named
in item 1, Part I, of this Form
file? |t BE-15(SF), holds in the U.S.
Mark (X) one payroll taxes affiliate listed in Column (2). —
Enter percentage to nearest tenth,
(1) (2) (3) (4) (5) (6)
4. 6
1||Yes
2LINo wº- %
6222 O
4 6
1||Yes
2 | No O
6223 - %
4 6
1||Yes
2 | NO me %
6224 O
4. 6
1||Yes
2| No - %
6225 O
4 6
| [...] Yes
2 [ ] No - %
6226
4 6
1||Yes
2 [T] No - %
6227
4 6
1 ||Yes
2| No - %
6228
4. 6
1||Yes
2 [ ] No -- %
6229
4 6
1 DYes
2 [T] No - %
6230
4 6
1 | ||Yes
6231 2||No - %
4 6
1||Yes
6232 2 | No - %
4 6
1||Yes
6233 2 [T] No - %
4 6
1 | Yes
2 [ ] No - %
6234
ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES — 2003
BE-15(SF) INSTRUCTIONS
NOTE: Instructions in section IV. are cross referenced by number to the items located on pages 1 to 4 of this form.
Authority – This survey is being conducted pursuant to the
International Investment and Trade in Services Survey Act
(P.L. 94-472., 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended,
hereinafter "the Act"), and the filing of reports is MANDATORY
pursuant to Section 5(b)(2) of the Act (22 U.S.C. 3104).
The publication in the Federal Register of the notice
implementing this survey is considered legal notice to covered U.S.
business enterprises of their obligation to report. Therefore, a
response is required from persons subject to the reporting
requirements of the BE-15 survey, whether or not they are
contacted by BEA. Also, a person contacted by BEA concerning
their being subject to reporting, either by sending them a report
form or by written inquiry, must respond in writing pursuant to
section 806.4 of 15 CFR, Chapter VIII, or must respond electro-
nically using BEA's Automated Survey Transmission and Retrieval
(ASTAR) system. This may be accomplished by completing and
submitting Form BE-15(LF), BE-15(SF), BE-15(EZ), or BE-15
Supplement C by May 31, 2004, whichever is applicable.
Penalties – In addition to the penalties cited on page 1, any
officer, director, employee, or agent of any corporation who
knowingly participates in such violations upon conviction, may be
punished by a like fine, imprisonment or both (22 U.S.C. 3105).
Notwithstanding any other provision of the law, no person is
required to respond to, nor shall any person be subject to a penalty
for failure to comply with, a collection of information subject to the
requirements of the Paperwork Reduction Act, unless that collection
of information displays a currently valid OMB Control Number. The
control number for this survey is at the top of page 1 of the form.
I. REPORTING REOUIREMENTS
To determine which BE-15 report to file, read the following
section and section A.1. on this page and review the flow chart on
page 12, OR read the following section and sections A.2. through
A.5. on page 12.
A. Who must report – A BE-15 report is required for each
nonbank U.S. affiliate, i.e., for each U.S. business enterprise in
which a foreign person owned or controlled, directly or
indirectly, 10 percent or more of the voting securities if an
incorporated U.S. business enterprise, or an equivalent interest
if an unincorporated U.S. business enterprise, at the end of the
business enterprise's fiscal year that ended in calendar year
2003. Small U.S. affiliates are exempt from filing a Form
BE-15(LF), BE-15(SF), or BE-15(EZ). To determine if you are
exempt, see I.B. on page 12. Exempt affiliates must file Form
BE-15 Supplement C. Following an initial filing, the BE-15
Supplement C is not required annually from those nonbank
U.S. affiliates that meet the stated exemption criteria from
year to year.
Foreign ownership interest — All direct and indirect lines of
ownership held by a foreign person in a given U.S. business
enterprise must be summed to determine if the enterprise is a
U.S. affiliate of the foreign person for purposes of reporting.
Indirect ownership interest in a U.S. business enterprise is
the product of the direct ownership percentage of the foreign
parent in the first U.S. business enterprise in the ownership
chain multiplied by that first enterprise's direct ownership
percentage in the second U.S. business enterprise multiplied by
each succeeding direct ownership percentage of each other
intervening U.S. business enterprise in the ownership chain
between the foreign parent and the given U.S. business
enterprise.
Example: In the diagram below, foreign person A owns 100% of
the Voting stock of U.S. affiliate B; U.S. affiliate B owns 50% of
the voting stock of U.S. affiliate C; and U.S. affiliate C owns 25%
of the voting stock of U.S. affiliate D. Therefore, U.S. affiliate B is
100% directly owned by foreign person A; U.S. affiliate C is 50%
indirectly owned by foreign person A; and U.S. affiliate D is 12.5%
indirectly owned by foreign person A.
Calculation of Foreign Ownership
Foreign person A
|- ** ––––––––––––––––––
U.S
100%
Y
U.S. affiliate B
100% directly owned by foreign person A
50%
Y
U.S. affiliate C
100% x 50% = 50%
indirectly owned by foreign person A
25%
Y
U.S. affiliate D
100% x 50% x 25% = 12.5%
indirectly owned by foreign person A
A report is required even though the foreign person's voting
interest in the U.S. business enterprise may have been
established or acquired during the reporting period.
Beneficial, not record, ownership is the basis of the reporting
criteria. Voting securities, voting stock, and voting interest all
have the same general meaning and are used interchangeably
throughout these instructions and the report forms.
Real estate – See instruction V.C. on page 17 for special reporting
requirements.
Airlines and ship operators – U.S. stations, ticket offices, and
terminal and port facilities of foreign airlines and ship operators
that provide services ONLY to the foreign airlines' and ship
operators' own operation are not required to report. Reports are
required when such enterprises produce significant revenues
from services provided to unaffiliated persons.
1. Please review the questions below and the flow chart
on page 12 to determine if your U.S. business is
required to file Form BE-15(SF).
a. Were at least 10 percent of the voting rights in your
business directly or indirectly owned by a foreign person
at the end of your 2003 fiscal year? (See ||.T. on page 13
for fiscal year 2003 definition).
| || Yes – Continue with question b. NOTE: Your business
is hereinafter referred to as a "U.S. affiliate."
| | No – You are not required to file Form BE-15(SF).
File Form BE-15 Supplement C by May 31, 2004.
b. Is this U.S. affiliate a bank or bank holding company?
|| Yes – You are not required to file Form BE-15(SF). File
Form BE-15 Supplement C by May 31, 2004.
[ ] No - Continue with question c.
c. Were more than 50 percent of the voting rights in this U.S.
affiliate owned by another U.S. affiliate at the end of this
U.S. affiliate's 2003 fiscal year?
|| Yes – Continue with question d.
[ ] No — Skip to question e.
d. Does either exception d or e to the consolidation rules
apply to you? (The consolidation rules are found in
instruction IV.2. on pages 13 and 14.)
|| Yes – Continue with question e.
| | No - This U.S. affiliate must be consolidated on the
BE-15 report of the U.S. affiliate that owns it more than
50 percent. File Form BE-15 Supplement C by May 31,
2004, forward this survey packet to the U.S. affiliate that
owns this affiliate more than 50 percent, and have them
consolidate your data into their report.
e. Did any one of the items – Total assets, Sales or gross
operating revenues, or Net income (loss) – for the U.S.
affiliate (not just the foreign parent's share) exceed $30
million at the end of, or for, its 2003 fiscal year?
| | Yes – Continue with question f.
| | No – You are not required to file a Form BE-15(SF). File
Form BE-15 Supplement C by May 31, 2004.
f. Did you receive a request in writing from BEA to file Form
BE-15(EZ)?
|| Yes – File Form BE-15(EZ) by May 31, 2004.
| | No - Continue with question g.
g. Was the U.S. affiliate majority-owned by its foreign parents
at the end of its 2003 fiscal year? (A U.S. affiliate is
"majority-owned" if the combined direct and indirect owner-
ship interests of all foreign parents of the U.S.
affiliate exceed 50 percent.)

|| Yes – Continue with question h.
[ ] No – File Form BE-15(SF) by May 31, 2004.
h. Did any one of the items – Total assets, Sales or gross
operating revenues, or Net income (loss) — for the U.S.
affiliate (not just the foreign parent's share) exceed $125
million at the end of, or for, its 2003 fiscal year?
[ ] Yes – File Form BE-15(LF) by May 31, 2004.
| | No – File Form BE-15(SF) by May 31, 2004.
Page 11
FORM BE-15(SF) (REV. 2/2004)
I. REPORTING REOUIREMENTS – Continued
which Form to File?
At least 10 percent voting interest directly
and/or indirectly owned by a foreign person?
|
ſ |
Yes No
Bank or bank File Form BE-15
holding company? Supplement C
|
| |
Yes No
! !
g More than 50 percent of the
º ;: voting rights owned by
upplement C. another U.S. affiliate
at end of fiscal year 2003?
|
Yes No
!
Does either exception d or e to the
consolidation rules apply?
(The consolidation rules are found
in instruction IV.2. on pages 13 and 14.)
}
| |
Yes No
Wy !
This U.S. affiliate must be consolidated
on the BE-15 report of the U.S. affiliate
that owns it more than 50 percent. File
Form BE-15 Supplement C.
Assets, sales, or net income (loss)
greater than $30 million?
|
| |
Yes No
! !
Did you receive a request File Form BE-15
in writing from BEA to Supplement C
file Form BE-15(EZ)?
|
| -]
Yes No
File Form Majority-O d directl d/
BE-15(EZ) Majority-Owned directly and/or
indirectly by foreign parents?
j
| T
Yes No
Assets, sales, or net income File Form
(loss) greater than $125 million? BE-15(SF)
|
| |
Yes No
File Form File Form
BE-15(LF). BE-15(SF).
. Form BE-15(LF) — Annual Survey of Foreign Direct
Investment in the United States – 2003 (Long Form)
A Form BE-15(LF) must be completed and filed by May 31,
2004, by each U.S. business enterprise that was a U.S. affiliate
of a foreign person at the end of its fiscal year that ended in
calendar year 2003, if:
a. It is not a bank (Banks and Bank Holding Companies are
exempt from filing), and
b. The ownership or control (both direct and indirect) by
all foreign parents in the voting securities of an
incorporated U.S. business enterprise (or an equivalent
interest of an unincorporated U.S. business enterprise)
at the end of the fiscal year that ended in calendar year
2003, exceeded 50 percent (i.e., the voting securities
or equivalent interest were majority-owned by foreign
parents), and

c. On a fully consolidated, or, in the case of real estate
investments, an aggregated basis, any one of the
following three items — Total assets (do not net out
liabilities), or Sales or gross operating revenues,
excluding sales taxes, or Net income after provision for
U.S. income taxes – for the U.S. affiliate (not just the
foreign parent's share) exceeded $125 million (positive
or negative) at the end of, or for, its fiscal year that
ended in calendar year 2003.

3. Form BE-15(SF) — Annual Survey of Foreign Direct
investment in the United States – 2003 (Short Form)
A Form BE-15(SF) must be completed and filed by
May 31, 2004, by each U.S. business enterprise that was a
U.S. affiliate of a foreign person at the end of its fiscal
year that ended in calendar year 2003, if:

a. It is not a bank (Banks and Bank Holding Companies are
exempt from filing), and
b. On a fully consolidated, or, in the case of real estate
investments, an aggregated basis, any one of the
following three items – Total assets (do not net out
liabilities), or Sales or gross operating revenues,
excluding sales taxes, or Net income after provision for
U.S. income taxes – for the U.S. affiliate (not just the
foreign parent's share) exceeded $30 million (positive
or negative) at the end of, or for, its fiscal year that
ended in calendar year 2003, and EITHER c, OR d.
below is applicable.

c. The ownership or control (both direct and indirect) by
all foreign parents in the voting securities of an
incorporated U.S. business enterprise (or an equivalent
interest in an unincorporated U.S. business enterprise)
at the end of the fiscal year that ended in calendar year
2003, was 50 percent or less (i.e., the voting securi-
ties, or equivalent interest were not majority-owned
by foreign parents), or

d. The ownership or control (both direct and indirect) by
all foreign parents in the voting securities of an
incorporated U.S. business enterprise (or an equivalent
interest of an unincorporated U.S. business enterprise)
at the end of the fiscal year that ended in calendar year
2003, exceeded 50 percent (i.e., the voting securities
or equivalent interest were majority-owned by foreign
parents), and on a fully consolidated, or, in the case of
real estate investments, on an aggregated basis, no
one of the following three items — Total assets (do not
net out liabilities), or Sales or gross operating
revenues, excluding sales taxes, or Net income after
provision for U.S. income taxes – for the U.S.Taffiliate
(not just the foreign parent's share) exceeded $125
million (positive or negative) at the end of, or for, its
fiscal year that ended in calendar year 2003.
4. Form BE-15 Supplement C – Annual Survey of Foreign
Direct investment in the United States 2003, Claim
for Exemption from Filing Form BE-15(LF), BE-15(SF),
or BE-15(EZ).

A Form BE-15 Supplement C must be completed and filed no
later than May 31, 2004 by
a. Each U.S. business enterprise that was a U.S. affiliate of
a foreign person at the end of its fiscal year that ended
in calendar year 2003 (whether or not the U.S. affiliate
is contacted by BEA concerning its being subject to
reporting in the 2003 annual survey), but is exempt
from filing Form BE-15(LF), BE-15(SF), and BE-15(EZ)
(see I.B., below); and

b. Each U.S. business enterprise that is contacted in writing
by BEA concerning its being subject to reporting in the
2003 annual survey but that is not required to file the
Form BE-15(LF), BE-15(SF), or BE-15(EZ).
5. Form BE-15(EZ) — Annual Survey of Foreign Direct
Investment in the United States – 2003 (EZ Form).

Complete Form BE-15(EZ) ONLY if you have been
instructed to do so by BEA.
- Exemption — A U.S. affiliate as consolidated, or aggregated
in the case of real estate investments (see I.C. below and
V.C. on page 17), is not required to file a Form BE-15(LF),
BE-15(SF), or BE-15(EZ) if each of the following three
items – Total assets (do not net out liabilities), and Sales or
gross operating revenues, excluding sales taxes, an et
income after provision for U.S. income taxes – for the U.S.
affiliate (not just the foreign parent's share) did not exceed
$30 million (positive or negative) at the end of, or for, its
fiscal year that ended in calendar year 2003.
If a U.S. business enterprise is a U.S. affiliate but is not
required to file a Form BE-15(LF), BE-15(SF), or BE-15(EZ),
because it falls below the exemption level, then it must file a
Form BE-15 Supplement C, Claim for Exemption from Filing
Form BE-15(LF), BE-15(SF), or BE-15(EZ) with item 1 marked
and the information requested in item 1 filled in.
. Aggregation of real estate investments — Aggregate all
real estate investments of a foreign person for the purpose
of applying the reporting criteria. Use a single report form to
report the aggregate holdings, unless BEA has granted
permission in writing to do otherwise. Those holdings not
aggregated must be reported separately. Real estate is
discussed more fully in instruction V.C. on page 17.
FORM BE-15(SF) (REV. 2/2004)
Page 12
II. DEFINITIONS
A. United States, when used in a geographic sense, means the
several States, the District of Columbia, the Commonwealth of
Puerto Rico, and all territories and possessions of the
United States.
B. Foreign, when used in a geographic sense, means that which
is situated outside the United States or which belongs to or is
characteristic of a country other than the United States.
C. Person, means any individual, branch, partnership,
association, associated group, estate, trust, corporation, or
other organization (whether or not organized under the laws
of any State), and any government (including a foreign
government, the U.S. Government, a State or local
government, and any agency, corporation, financial institution,
or other entity or instrumentality thereof, including a
government sponsored agency).
D. Associated group means two or more persons who, by the
appearance of their actions, by agreement, or by an
understanding, exercise their voting privileges in a concerted
manner to influence the management of a business
enterprise. The following are deemed to be associated groups:
1. Members of the same family.
2. A business enterprise and one or more of its officers or
directors.
3. Members of a syndicate or joint venture.
4. A corporation and its domestic subsidiaries.
E. Foreign person means any person resident outside the United
States or subject to the jurisdiction of a country other than the
United States.
F. Direct investment means the ownership or control, directly or
indirectly, by one person of 10 per centum or more of the
voting securities of an incorporated business enterprise or an
equivalent interest in an unincorporated business enterprise.
G. Foreign direct investment in the United States means the
ownership or control, directly or indirectly, by one foreign
person of 10 per centum or more of the voting securities of an
incorporated U.S. business enterprise or an equivalent interest
in an unincorporated U.S. business enterprise, including a
branch.
H. Business enterprise means any organization, association,
branch, or venture which exists for profit making purposes or
to otherwise secure economic advantage, and any ownership of
any real estate.
I. Branch means the operations or activities conducted by a
person in a different location in its own name rather than
through an incorporated entity.
J. Affiliate means a business enterprise located in one country
which is directly or indirectly owned or controlled by a
person of another country to the extent of 10 per centum or
more of its voting securities for an incorporated business
enterprise or an equivalent interest for an unincorporated
business enterprise, including a branch.
K. U.S. affiliate means an affiliate located in the United States
in which a foreign person has a direct investment.
1. Majority-owned U.S. affiliate means a U.S. affiliate in
which the combined direct and indirect voting interest of all
foreign parents of the U.S. affiliate exceeds 50 percent.
2. Minority-owned U.S. affiliate means a U.S. affiliate in
which the combined direct and indirect voting interest of all
foreign parents of the U.S. affiliate is 50 percent or less.
L. Foreign parent means the foreign person, or the first person
outside the United States in a foreign chain of ownership,
which has direct investment in a U.S. business enterprise,
including a branch.
M. Affiliated foreign group means (i) the foreign parent, (ii)
any foreign person, proceeding up the foreign parent's
ownership chain, which owns more than 50 per centum of
the person below it up to and including that person which is
not owned more than 50 per centum by another foreign
person, and (iii) any foreign person, proceeding down the
ownership chain(s) of each of these members, which is
owned more than 50 per centum by the person above it.
N. Foreign affiliate of a foreign parent means, with reference
to a given U.S. affiliate, any member of the affiliated foreign
group owning the U.S. affiliate that is not a foreign parent of
the U.S. affiliate.
O. U.S. corporation means a business enterprise incorporated
in the United States.
P. Intermediary means any agent, nominee, manager, custodian,
trust, or any person acting in a similar capacity.
O. Ultimate beneficial owner (UBO) is that person, proceeding
up the ownership chain beginning with and including the
foreign parent, that is not more that 50 percent owned or
controlled by another person. (A person who creates a trust,
proxy, power of attorney, arrangement, or device with the
purpose or effect of divesting such owner of the ownership of
an equity interest as part of a plan or scheme to avoid
reporting information, is deemed to be the owner of the equity
interest.) Note: Stockholders of a closely or privately held
corporation are normally considered to be an associated group
and may be a UBO.
R. Banking covers business enterprises engaged in deposit
banking or closely related functions, including commercial
banks, Edge Act corporations engaged in international or
foreign banking, foreign branches and agencies of U.S. banks
whether or not they accept deposits abroad, U.S. branches and
agencies of foreign banks whether or not they accept domestic
deposits, savings and loans, savings banks, and bank holding
companies.
S. Lease is an arrangement conveying the right to use property,
plant, or equipment (i.e., land and/or depreciable assets), usually
for a stated period of time.
1. Capital lease — A long-term lease under which a sale of the
asset is recognized at the inception of the lease. These may be
shown as lease contracts or accounts receivable on the lessor's
i. The asset would not be considered as owned by the
€SSOſ.
2. Operating lease – Generally, a lease with a term which is less
than the useful life of the asset and a transfer of ownership is
not contemplated.
T. U.S. affiliate's 2003 fiscal year is the affiliate's financial
reporting year that had an ending date in calendar year 2003.
III. GENERAL INSTRUCTIONS
A. Accounting methods and records – Unless otherwise specified
in the instructions, follow generally accepted U.S. accounting
principles when preparing the BE-15 report. Corporations should
generally use the same methods and records that are used to
generate reports to stockholders except where the instructions state
otherwise. Prepare reports for unincorporated U.S. business
enterprises on an equivalent basis.
B. Changes in the reporting entity – DO NOT restate close fiscal
year 2002 balances for changes in the consolidated reporting entity
that occurred during fiscal year 2003. The close fiscal year 2002
balances represent the reporting entity as it existed at the close of
fiscal year 2002.
C. Required information not available — Make all reasonable
efforts to obtain the information required for reporting.
Answer every question except where specifically exempt.
Indicate when only partial information is available.
D. Estimates - If actual figures are not available, please provide
estimates and label them as such. When items cannot be fully
subdivided as required, provide totals and an estimated breakdown
of the totals. Certain sections of the Form BE-15(SF) require data
that may not normally be maintained in a company's customary
accounting records. Precise answers for these items may present
the respondent with a substantial burden beyond what is intended
by BEA. This may be especially true for items 30 and 31, exports
and imports of U.S. affiliate on a shipped basis, and items 34
through 45, data disaggregated by State.
Therefore, the answers in these sections may be reasonable
estimates based upon the informed judgment of persons in the
responding organization, sampling techniques, prorations
based on related data, etc. However, the estimating procedures
used should be consistently applied on all BEA surveys.
E. Space on form insufficient — When space on a form is
insufficient to permit a full answer to any item, provide the
required information on supplementary sheets, appropriately
labeled and referenced to the item number on the form.
IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORT FORM
NOTE: Instructions in section IV. are cross referenced by number
to the items located on pages 1 to 4 of this form.
PART I
Section A - IDENTIFICATION OF U.S. AFFILIATE
2. Consolidation Rules
Consolidated reporting by the U.S. affiliate — A U.S. affiliate
must file on a fully consolidated domestic U.S. basis, including in
the full consolidation all nonbank U.S. business enterprises in
which it directly or indirectly owns more than 50 percent of the
outstanding voting interest. The fully consolidated entity is
considered one U.S. affiliate.
A foreign person holding real estate investments that are
reportable on the BE-15 must aggregate all such holdings. See
Instruction I.C. on page 12 for details.
Do not prepare your BE-15 report using the proportionate
consolidation method. Except as noted in b. through e. below,
consolidate all majority-owned U.S. affiliates into your BE-15 report.
Unless the exceptions discussed in a, b, c, or e below apply,
any deviation from these consolidation rules must be
approved in writing each year by BEA.
Exceptions to consolidated reporting — Note: If a U.S. affiliate is
not consolidated into its U.S. parent's BE-15 report, then it must be
listed on the Supplement B of its parent's BE-15 report and must
file its own Form BE-15(LF), BE-15(SF), or BE-15 Supplement C.
a. DO NOT CONSOLIDATE FOREIGN SUBSIDIARIES,
BRANCHES, OPERATIONS, OR INVESTMENTS NO MATTER
WHAT THE PERCENTAGE OWNERSHIP.
Oil and gas sites owned by U.S. affiliates and located outside of
U.S. claimed territorial waters are to be treated as foreign
subsidiaries of the U.S. affiliates if they meet one of the following
criteria: (1) they are incorporated in a foreign country; (2) they are
set up as a branch; or (3) they have a physical presence in a
foreign country as evidenced by plant and equipment or
employees located in that country.
Real estate located outside the United States that is owned by the
U.S. affiliate and generates revenues for, or reimbursements to,
the U.S. affiliate, or that facilitates the foreign operations of the
U.S. affiliate is a foreign subsidiary and should not be
consolidated on this BE-15 report.
include foreign holdings owned 20 percent or more (including
those that are majority owned) using the equity method of
accounting. DO NOT report employment, land, and other
property, plant, and equipment and DO NOT eliminate
intercompany accounts for holdings reported using the equity
method. You may report immaterial foreign holdings using the
cost method of accounting if this treatment is consistent with
your normal reporting practice.
Report foreign holdings owned less than 20 percent using the
cost method of accounting.
DO NOT list any foreign holdings of the U.S. affiliate on the
Supplement B.
FORM BE-15(SF) (REV. 2/2004)
Page 13
IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORT FORM – Continued
b. Do not consolidate banking activities. If the nonbank
U.S. affiliate reporting on the Form BE-15(SF) has a direct or
indirect ownership interest in a bank, bank holding company
(BHC), or any other banking activity, such as a U.S. whole-
sale or limited purpose bank, DO NOT consolidate those
banking activities into the Form BE-15(SF). Banks are not
required to file a separate BE-15 report.
Include on Form BE-15(SF) any banking operations owned
20 percent or more using the equity method of accounting.
DO NOT report employment, land, and other property,
plant, and equipment and DO NOT eliminate intercompany
accounts for banking operations. Report immaterial bank-
ing operations and any banking operations owned less
than 20 percent using the cost method of accounting if this
treatment is consistent with your normal reporting practice.
For BE-15 reporting purposes, treat Financial Holding
Companies in the same manner as you would treat a BHC.
c. Special consolidation rules apply to U.S. affiliates
that are limited partnerships or that have an owner-
ship interest in a U.S. limited partnership. These rules
can be found on our web site at:
www.bea.gov/bea/surveys/fdiusfad.htm#1. Scroll to the
heading "BE-15 – Annual Survey Report" and click on the
question "How do I report if I am a limited partnership or
have an ownership interest in a limited partnership?" Also
see instruction 6.b. on this page for additional information
about partnerships.
d. You may file a separate BE-15 report for a U.S. affiliate
that is owned more than 50 percent by another U.S.
affiliate if the "owned" U.S. affiliate is not normally fully
consolidated because control by the "owning" U.S. affiliate
is temporary. You must submit a request in writing
EACH YEAR to BEA in order to receive permission to
file separately for any U.S. affiliate that should
otherwise be consolidated. Report such affiliates, if not
consolidated, on Form BE-15(SF) using the equity method
of accounting. DO NOT eliminate intercompany accounts
for affiliates not consolidated. In accordance with FAS 94,
consolidation of majority-owned subsidiaries is required
even if their operations are not homogeneous with those
of the U.S. affiliate that owns them.
e. A U.S. affiliate in which a direct ownership interest and an
indirect ownership interest are held by different foreign
persons should not be fully consolidated into another U.S.
affiliate, but must complete and file its own Form
BE-15(SF) or BE-15(LF). (See diagram below.)
Foreign person B Foreign person A
Foreign
U.S. 100%
U.S. affiliate X
ºr
30%
> | U.S. affiliate Y
U.S. affiliate Y may not be fully consolidated into U.S. affiliate X
because of the 30 percent direct ownership by foreign person B.
If this exception applies, reflect the indirect ownership interest,
even if more than 50 percent, on the balance sheet and income
statement of the owning U.S. affiliate's BE-15 report on an
equity basis. For example, using the situation shown in the
diagram above, U.S. affiliate X must treat its 60 percent
ownership interest in U.S. affiliate Y as an equity investment.
. Reporting period — The report covers the U.S. affiliate's 2003
fiscal year. The affiliate's 2003 fiscal year is defined as the
affiliate's financial reporting year that had an ending date in
calendar year 2003.
Special Circumstances:
a. 52/53 week fiscal year – Affiliates having a "52/53 week"
fiscal year that ends within the first week of January 2004
are considered to have a 2003 fiscal year and should report
December 31, 2003 as their 2003 fiscal year end.
b. U.S. affiliates without a financial reporting year – If a
U.S. affiliate does not have a financial reporting year, its fiscal
year is deemed to be the same as calendar year 2003.
c. Change in fiscal year
(1) New fiscal year ends in calendar year 2003 – A
U.S. affiliate that changed the ending date of its
financial reporting year should file a 2003 BE-15 report
that covers the 12 month period prior to the new fiscal
year end date. The following example illustrates the
reporting requirements.
Example 1: U.S. affiliate A had a June 30, 2002 fiscal
year end date but changed its 2003 fiscal year end date
to March 31. Affiliate A should file a 2003 BE-15 report
covering the 12 month period from April 1, 2002 to
March 31, 2003.
(2) No fiscal year ending in calendar year 2003 – If a
change in fiscal year results in a U.S. affiliate not
having a fiscal year that ended in calendar year 2003,
the affiliate should file a 2003 BE-15 report that covers
12 months. The following example iſſustrates the
reporting requirements.
Example 2: U.S. affiliate B had a December 31, 2002
fiscaſ year end date but changed its next fiscal year end
date to March 31. Instead of having a short fiscal year
ending in 2003, affiliate B decides to have a 15 month
fiscal year running from January 1, 2003 to March 31,
2004. Affiliate B should file a 2003 BE-15 report covering a
12 month period ending in calendar year 2003, such as
the period from April 1, 2002 to March 31, 2003.
For 2004, assuming no further changes in the fiscal year
end date occur, affiliate B should file a BE-15 report
covering the 12 month period from April 1, 2003 to
March 31, 2004.
Section B – OWNERSHIP AND INDUSTRY
5.
CLASSIFICATION OF U.S. AFFILIATE
Reporting for a U.S. business that became a U.S. affiliate
during fiscal year 2003 —
a. A U.S. business enterprise that was newly established
in fiscal year 2003 should file a report for the period starting
with the establishment date up to and ending on the last day
of its fiscal year that ended in calendar year 2003. DO NOT
estimate amounts for a full year of operations if the first
fiscal year is less than 12 months.
b. A U.S. business enterprise existing before fiscal year
2003 that became a U.S. affiliate in fiscal year 2003
should file a report covering a full 12 months of operations.
Reporting by unincorporated U.S. affiliates
a. Directly owned vs. Indirectly owned
(1) Directly owned – Each unincorporated U.S. affiliate,
including a branch, that is directly owned 10 percent or
more by a foreign person should file a separate BE-15
report. Do not combine two or more directly owned U.S.
affiliates on a single BE-15 report. The only exception is
for U.S. affiliates that are real estate investments. See
instruction I.C. on page 12 and Instruction V.C. on page 17
for details.
(2) Indirectly owned — Except as noted in the exceptions
to the consolidation rules on pages 13 and 14, an indir-
ectly owned unincorporated U.S. affiliate that is owned
more than 50 percent by another U.S. affiliate should
be fully consolidated on the report with the U.S. affili-
ate that holds the ownership interest in it. An indirectly
owned unincorporated U.S. affiliate owned 50 percent
or less by another U.S. affiliate should file a separate
BE-15 report.
b. Partnerships – Most partnerships are either general
partnerships or limited partnerships. A general partnership
usually consists of at least two general partners who together
control the partnership. A limited partnership
usually consists of at least one general partner and one
limited partner. The general partner usually controls a limited
partnership. The limited partner has a financial
interest but does not usually have any voting rights (control)
in a limited partnership.

Partners without voting rights (control) cannot have direct
investment in a partnership. Therefore, limited partners do
not usually have direct investment. The existence of direct
investment in a partnership is determined by the percentage
of control exercised by the partner(s). The percentage of
control exercised by a partner may differ from its financial
interest in the partnership.
(1) General Partnerships
Determination of voting interest – "Voting interest" is
defined in instructions 9-13 on page 15. The
determination of the percentage of voting interest of a
general partner is based on who controls the partnership.
The percentage of voting interest is not based on the
percentage of ownership in the partnership's equity. The
general partners are presumed to control a general
partnership. Unless a clause to the contrary is contained
in the partnership agreement, a general partnership is
presumed to be controlled equally by each of the general
partners. For example, if a partnership has two general
partners, and nothing to the contrary is stated in the
partnership agreement, each general partner is presumed
to have a 50 percent voting interest. If there are three
general partners, each general partner is presumed to
have a one-third voting interest, etc.
Managing partners – If one general partner is
designated as the managing partner, responsible for the
day-to-day operations of the partnership, this does not
necessarily transfer control of the partnership to the
managing partner. If the managing partner must obtain
approval for annual operating budgets and for decisions
relating to significant management issues from the other
general partners, then the managing partner does not
have a 100 percent voting interest in the partnership.
(2) Limited Partnerships
(a) Determination of voting interest – "Voting
interest" is defined in instructions 9-13 on page 15.
The determination of the percentage of voting interest
in a limited partnership is based on who controls the
partnership. The percentage of voting interest is not
based on the percentage of ownership in the
partnership's equity. In most cases, the general
partner is presumed to control a limited partnership,
and therefore, have a 100 percent voting interest in
the limited partnership. If there is more than one
general partner, the partnership is presumed to be
controlled equally by each of the general partners,
unless a clause to the contrary is contained in the
partnership agreement. For example, if a limited
partnership has two general partners, and nothing to
the contrary is stated in the partnership agreement,
then each general partner is presumed to have a 50
percent voting interest in the limited partnership.
Page 14
FORM BE-15(SF) (REV. 2/2004)
IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORTED FORM – Continued
Limited partners do not normally exercise any control
over a limited partnership. Therefore unless a clause
to the contrary is contained in the partnership
agreement, limited partners are presumed to have
zero voting interest in a limited partnership. If a
limited partnership has one or more limited partners
who are foreign persons, the foreign persons are
presumed to have no voting interest, and, therefore,
no direct investment in the limited partnership.
Managing partners — See discussion under
"General Partnerships" on page 14.
(b) Consolidation Rules
Special consolidation rules apply to U.S.
affiliates that are limited partnerships or that
have an ownership interest in a U.S. limited
partnership. See
############ for details.
croll to the heading "BE-15 – Annual Survey Report"
and click on the question "How do I report if I am a
limited partnership or have an ownership interest in a
limited partnership?"
c. Limited Liability Companies (LLCs)
Determination of voting interest – "Voting interest" is
defined in instruction 9-13 below. The determination of the
percentage of voting interest in an LLC is based on who
controls the LLC. The percentage of voting interest is not
based on the percentage of ownership in the LLC's equity.
LLCs are presumed to be controlled equally be each of its
members (owners), unless a clause to the contrary is
contained in the articles of organization or in the operating
agreement. For example, if an LLC has two members, and
nothing to the contrary is contained in the articles of
organization or in the operating agreement, then each
member is presumed to have a 50 percent voting interest in
the LLC; if there are three members, then each member is
presumed to have a one-third voting interest in the LLC.
Managing member – If one member is designated as the
managing member responsible for the day-to-day operations
of the LLC, this does not necessarily transfer control of the
LLC to the managing member. If the managing member must
obtain approval for annual operating budgets and for
decisions relating to other significant management issues
from the other members, then the managing member does
not have a 100 percent voting interest in the LLC.
8. U.S. affiliates NOT consolidated – Report equity
investments in U.S. business enterprises that are not
consolidated and that are owned 20 percent or more (including
those that are majority owned) using the equity method of
accounting. DO NOT report employment, land, and other
property, plant, and equipment and DO NOT eliminate
ºpany accounts for holdings reported using the equity
method.
You may report immaterial investments using the cost method
of accounting if this treatment is consistent with your normal
reporting practice. Report equity investments owned less than
20 percent using the cost method of accounting.
List all U.S. affiliates in which this U.S. affiliate has a voting
interest of at least 10 percent and that are not consolidated in
this Form BE-15(SF) on the Supplement B.
9-13
Ownership
Voting interest and Equity interest
a. Voting interest is the percent of ownership in the voting
equity of the U.S. affiliate. Voting equity consists of ownership
interests that have a say in the management of the company.
Examples of voting equity include capital stock that has voting
rights, and a general partner's interest in a partnership. See
instruction 6b (1) and 6b(2)(a) starting on page 14 for
information about determining the voting interest for
partnerships. See instruction 6c above for information about
determining the voting interest for Limited Liability Companies.
b. Equity interest is the percent of ownership in the total equity
(voting and nonvoting) of the U.S. affiliate. Nonvoting equity
consists of ownership interests that do not have a say in the
management of the company. An example of nonvoting equity
is preferred stock that has no voting rights. Another example is
a limited partner's interest in a limited partnership. See
instruction 6b (2) starting on page 14 for information about
limited partnerships.
Voting interest and equity interest are not always equal.
For example, an owner can have a 100 percent voting interest in
a U.S. affiliate but own less than 100 percent of the affiliate's
total equity. This situation is illustrated in the following example.
Example: U.S. affiliate A has two classes of stock, common
stock and preferred stock. There are 50 shares of common stock
outstanding. Each common share is entitled to one vote and has
an ownership interest in 1 percent of the total owners' equity
amount. There are 50 shares of preferred stock outstanding.
Each preferred share has an ownership interest in 1 percent of
the total owners' equity amount but has no voting rights.
Foreign parent B owns all 50 shares of the common stock. U.S.
investors own all 50 shares of the preferred stock. Since foreign
parent B owns all of the voting stock, foreign parent B has a 100
percent voting interest in U.S. affiliate A. However, since all 50
shares of the nonvoting preferred shares are owned by U.S.
investors, foreign parent B has only a 50 percent equity interest
in the owners' equity amount of U.S. affiliate A.
17–22
Industry classification of fully consolidated U.S. affiliate
Book Publishers and Printers — Printing books without
publishing is classified in international surveys industry (ISI) code
3231 (printing and related support activities) not ISI code 5111
(newspaper, periodical, book, and directory publishers).
Real Estate Investment Trusts (REITS) – REITS should allocate
their sales based on the activities of their fully consolidated domes-
tic U.S. holdings. For example, a REIT that owns a shopping center,
should classify rents generated by the shopping center in ISI code
5310 (real estate). A REIT that holds a limited partner's interest in a
limited partnership and thus has no vote in the management of the
partnership must classify revenues generated by that activity in ISI
code 5252 (Funds, trusts and other financial vehicles). A REIT that
lends money for mortgages to owners of real estate should classify
revenues generated by that activity in ISI code 5224 (nondepository
credit intermediation). A REIT that holds only minority voting
interests in one or more properties should be classified in ISI code
5512 (holding companies, except bank holding companies).
Part II – SELECTED FINANCIAL AND OPERATING DATA
OF U.S. AFFILIATE
Section B – OTHER FINANCIAL AND OPERATING DATA
27. Total employee compensation — Base employee
compensation on payroll records related to activities during
the reporting period. Employee compensation consists of:
(1) Wages and salaries are the gross earnings of all
employees before deduction of employees' payroll
withholding taxes, social insurance contributions, group
insurance premiums, union dues, etc. include time and
piece rate payments, cost of living adjustments, overtime
pay and shift differentials, bonuses, profit sharing
amounts, and commissions. Exclude commissions paid to
persons who are not employees.
Wages and salaries include direct payments by employers
for vacations, sick leave, severance (redundancy) pay, etc.
include employer contributions to benefit funds. Exclude
payments made by, or on behalf of, benefit funds rather
than by the employer.
Wages and salaries include in-kind payments, valued at their
cost, that are clearly and primarily of benefit to the
employees as consumers. Exclude expenditures that
benefit employers as well as employees, such as
expenditures for plant facilities, employee training
programs, and reimbursement for business expenses.
(2) Employee benefit plans include Social Security and
other retirement plans, life and disability insurance,
guaranteed sick pay programs, workers' compensation
insurance, medical insurance, family allowances,
unemployment insurance, severance pay funds, etc. If
plans are financed jointly by the employer and the
employee, include only the contributions of the employer.
29. Research and development expenditures — R&D includes
basic and applied research in the sciences and engineering. It
also includes design and development of new products and
processes, and enhancement of existing products and
processes.
R&D includes activities carried on by persons trained, either
formally or by experience, in the physical sciences such as
chemistry and physics, the biological sciences such as medicine,
and engineering and computer science. R&D includes these
activities if the purpose is to do one or more of the following
things:
a. Pursue a planned search for new knowledge, whether or
not the search has reference to a specific application
(Basic research);
b. Apply existing knowledge to problems involved in the
creating of a new product or process, including work
required to evaluate possible uses (Applied research); or
c. Apply existing knowledge to problems involved in the
improvement of a present product or process
(Development).
R&D includes the activities described above whether assigned
to separate R&D organizational units of the company or
carried out by company laboratories and technical groups not
a part of an R&D organization.
30–31
EXPORTS AND IMPORTS OF U.S. AFFILIATE
U.S. trade in goods (exports and imports) – Report amounts on
U.S. trade in goods between U.S. affiliates and foreign persons on a
"shipped" basis, i.e., on the basis of when, where, and to (or by)
whom the goods were shipped. This is the same basis as official U.S.
trade statistics to which these amounts will be compared. Do not
record a U.S. import or U.S. export if the goods did not physically
enter or leave (i.e., were not physically shipped to or from) the United
States, even if they were charged to the U.S. affiliate by, or charged
by the U.S. affiliate to, a foreign person.
U.S. affiliates normally keep their accounting records on a "charged"
basis, i.e., on the basis of when, where, and to (or by) whom the
goods were billed or charged. The charged basis may be used if
there is no material difference between it and the "shipped" basis.
Differences between the "charged" and "shipped" basis may be
substantial. A major difference arises when a U.S. affiliate buys
goods in foreign country A and sells them in foreign country B.
Because the goods did not physically enter or leave the United
States, they are not U.S. trade. However, when the U.S. affiliate
records the transactions on its books, it would show a purchase
charged to it from country A and sale charged by it to country B. If
the U.S. affiliate's trade data in this survey were prepared on the
"charged" basis, the purchase and sale would appear incorrectly as a
U.S. import and U.S. export, respectively.
If a material difference exists between the "charged" and "shipped"
basis, trade must be reported on the "shipped" basis. To do this, the
U.S. affiliate may have to derive the data from export and import
declarations filed with U.S. Customs or from shipping and receiving
documents, rather than from accounting records, or may have to
otherwise adjust its data from a "charged" to a "shipped" basis.
FORM BE-15(SF) (REV. 2/2004)
Page 15
IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORTED FORM – Continued
Packaged general use computer software – Include exports
and imports of packaged general use computer software. Value
such exports and imports at full transactions value, i.e., including
both the value of the media on which the software is recorded and
the value of the information contained on the media. Exclude
receipts and payments for customized software designed to meet
the needs of a specific user. This type of software is considered a
service and should not be reported as trade in goods. Also exclude
receipts and payments for software that is transmitted
electronically rather than physically shipped.
Natural gas distribution — include the value of natural gas that is
exported or imported as trade in goods. However, exclude natural
gas that you do not produce or sell at wholesale, but simply
transmit for others via a pipeline.
Definition of U.S. trade in goods – The phrases "U.S. trade in
goods," "U.S. goods exports," and "U.S. goods imports" refer to
physical movements of goods between the customs area of the
United States and the customs area of a foreign country. Include
consigned goods in the trade figures when shipped or received,
even though they are not normally recorded as sales or purchases,
or entered into intercompany accounts when initially consigned.
Include capital goods but exclude the value of ships, planes,
railroad rolling stock, and trucks that were temporarily outside the
United States transporting people or goods.
In-transit goods — Exclude from exports and imports the value of
any goods that are in-transit. In-transit goods are goods that are
not processed or consumed by residents in the intermediate
country(ies) through which they transit; the in-transit goods enter
those countries only because those countries are along the
shipping lines between the exporting and importing countries.
In-transit goods are goods that are en route from one foreign
country to another via the United States (such as from Canada to
Mexico via the United States), and goods en route from one part of
the United States to another part via a foreign country (such as
from Alaska to Washington State via Canada).
Timing – Only include goods actually shipped between the United
States and a foreign country during FY 2003 regardless of when
the goods were charged or consigned. For example, include goods
shipped by the U.S. affiliate in FY 2003 that were charged or
consigned in FY 2004, but exclude goods shipped in FY 2002 that
were charged or consigned in FY 2003.
Trade of the U.S. affiliate — Goods shipped by, or to, the U.S.
affiliate whether or not they were actually charged or consigned
by, or to, the U.S. affiliate, are considered to be trade of the U.S.
affiliate.
NOTE: Goods shipped by an independent carrier or a freight
forwarder to or from the United States on behalf of and at the
expense of a U.S. affiliate are shipments by the U.S. affiliate.
Valuation of exports and imports – Value U.S. goods exports
and imports f.a.s. (free alongside ship) at the port-of-exportation.
This includes all costs incurred up to the point of loading the
goods aboard the export carrier at the U.S. or foreign port of
exportation, including the selling price at the interior point of
shipment (or cost if not sold), packaging costs, and inland freight
and insurance. It excludes all subsequent costs such as loading
costs, U.S. and foreign import duties, and freight and insurance
from the port of exportation to the port of entry.
32.b. Certain realized and unrealized gains (losses) - Note:
Please read the following instructions carefully as they are
keyed to economic accounting concepts and in some cases
may deviate from what is normally required by Generally
Accepted Accounting Principles.
Report at gross amount before income tax effect. Report
gains (losses) resulting from:
a. Sale or disposition of investment securities, and FAS
115 impairment losses. Dealers in financial instruments
(including securities, currencies, derivatives, and other
financial instruments) and finance and insurance
companies, see special instructions below;
b. Sale or disposition of land, other property, plant and
equipment, or other assets, and FAS 144 impairment
losses. DO NOT include gains or losses from the sale of
inventory assets in the ordinary course of trade or
business. Real estate companies, see special
instructions below; -
c. Goodwill impairment as defined by FAS 142;
d. Restructuring. Include restructuring costs that reflect
write downs or writeoffs of assets or liabilities. EXCLUDE
actual payments, or charges to establish reserves for
future actual payments, such as for severance pay, and
fees to accountants, lawyers, consultants, or other
COntractOrS;
e. DISPOSALS of discontinued operations. EXCLUDE
income from the operations of a discontinued segment.
Report such income as part of your income from
operations in items 17 through 22;
f. Remeasurement of the U.S. affiliate's
foreign-currency—denominated assets and liabilities due
to changes in foreign exchange rates during the
reporting period;
g. Extraordinary, unusual, or infrequently occurring items
that are material. Include losses from accidental
damage or disasters, after estimated insurance
reimbursement. Include cther material items, including
writeups, writedowns, writeoffs of tangible and
intangible assets; gains (losses) from the sale or other
disposition of capital assets; and gains (losses) from the
sale or other disposition of financial assets, including
Securities, to the extent not included above. Exclude
legal judgments; and
h. The cumulative effect of a change in accounting
principle.
Special instructions for (1) dealers in financial
instruments, finance and insurance companies, and (2)
real estate companies.
(1) Dealers in financial instruments (including securities,
currencies, derivatives, and other financial instruments)
and finance and insurance companies – include in item 32b:
(a) Impairment losses as defined by FAS 115,
(b) Realized gains and losses on trading or dealing,
(c) Unrealized gains or losses, due to changes in the valuation
of financial instruments that flow through the income
statement, and
(d) Goodwill impairment as defined by FAS 142.
EXCLUDE unrealized gains or losses due to changes in the
valuation of financial instruments that are taken to other
comprehensive income. Reflect such gains only in the ending
owners' equity balance (line 25).
EXCLUDE income from explicit fees and commissions from
item 32b. Include income from these fees and commissions as
part of your income from operations on lines 17 through 22.
(2) Real estate companies — Include in item 32b:
(a) Impairment losses as defined by FAS 144,
(b) Goodwill impairment as defined by FAS 142, and
(c) Gains recognized due to the revaluation of real estate assets.
EXCLUDE the revenues earned and expense incurred from the
sale of real estate you own. Such revenues should be reported
as part of operating income in item 22 column 2.
Section C – SCHEDULE OF EMPLOYMENT AND PROPERTY,
PLANT, AND EOUIPMENT, BY LOCATION
33-45
The Schedule of Employment and Property, Plant, and Equipment,
by Location covers the 50 States, the District of Columbia, and all
territories and possessions of the United States. Include in this
schedule only amounts pertaining to those U.S. business enterprises
that are fully consolidated into the reporting U.S. affiliate. DO NOT
consolidate or include amounts for foreign business enterprises or
operations, whether incorporated or unincorporated.
Column (3) Number of employees — Employment is the
number of full-time and part-time employees on the payroll at
the end of FY 2003, excluding contract workers and other
workers not carried on the payroll of this U.S. affiliate. If
employment at the end of FY 2003, or the count taken at some
other time during FY 2003, was unusually high or low because
of temporary factors (e.g., a strike), give the number of
employees that reflects normal operations. If the business
enterprise's activity involves large seasonal variations, give the
average number of employees for FY 2003. If given, the average
should be the average for FY 2003 of the number of persons on
the payroll at the end of each payroll period, month, or quarter.
If precise figures are not available, give your best estimate.
Location of employees or of an asset is the U.S. State, territory,
or possession in which the person is permanently employed, or
in which the land or other property, plant, and equipment is
physically located and to which property taxes, if any, on such
assets are paid.
Example: An employee carried on the payroll of a company located
II) #. who is on a duty assignment for one year or less in
Texas should be shown as being located in California, not Texas.
Exception: If the duty assignment is for more than one year, show
the employee as being located in Texas, not California.
Foreign — Except as noted below, exclude employees, land, and
other property, plant, and equipment, located outside of the United
States from the Schedule of Employment and Property, Plant, and
Equipment, By Location.
a. Employees normally located in the United States who are on
a temporary duty assignment outside of the country for one
year or less should be reported in the U.S. state, territory, or
possession where they are normally located.
b. Employees normally located in the United States who are on
a duty assignment outside of the country for more than one
year and carried on the payroll of the domestic U.S. affiliate
should be reported as foreign. Exclude these employees
from the BE-15 report if they are carried on a foreign payroll.
c. Real estate located outside the United States that is owned
by the U.S. affiliate and carried on its books but which
generates no revenues for, or reimbursements to, the U.S.
affiliate should be reported as foreign. Real estate that
generates revenues for, or reimbursements to, the U.S.
affiliate, or that facilitates the foreign operations of the U.S.
affiliate is a foreign subsidiary and should not be
consolidated on this BE-15 report.
d. Machinery and similar equipment located outside the United
States that are owned by the U.S. affiliate and carried on its
books should be reported as foreign. However, machinery or
equipment that frequently switches locations, such as
aircraft, railroad rolling stock, ships of U.S. registry, or
vehicles should be reported as "Other property, plant, and
equipment."
e. Use the "foreign" line to report oil and gas sites that (1) are
owned by U.S. affiliates; (2) are located outside of U.S.
claimed territorial waters; (3) are not incorporated in a
foreign country; (4) are not organized as a branch; and (5)
do not otherwise have a physical presence in a foreign
country as evidenced by plant and equipment or employees
located in a foreign country.
Page 16
FORM BE-15(SF) (REV. 2/2004)
IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORTED FORM – Continued
Other property, plant, and equipment – Use the category
"other property, plant, and equipment" to report (1) items that
frequently switch locations such as aircraft, railroad rolling stock,
ships of U.S. registry, and vehicles engaged in interstate
transportation, (2) items such as pipelines, fiber optic cable,
power lines, etc., located in more than one state, (3) satellites,
and undersea cable, and (4) property leased to others, except
land or buildings, under operating leases. Also, include here
machinery and equipment that frequently switch locations,
located outside the United States, owned by the U.S. affiliate,
and carried on its books.
V. SPECIAL INSTRUCTIONS
A. Insurance companies – When there is a difference, between
the financial and operating data reported to stockholders and
the data reported in the annual statement to an insurance
department, prepare the BE-15 report on the same basis as
the annual report to the stockholders. Valuation should be
according to normal commercial accounting procedures, not
at the rates promulgated by the National Association of
Insurance Commissioners, i.e., the BE-15 report should
include the following assets even though they are not
acceptable for inclusion in the annual statement to an
insurance department: 1. non-trusteed or free account assets,
and 2. nonadmitted assets such as furniture and equipment,
agents' debit balances, and all receivables deemed to be
collectible.
Item on Form BE-15(SF):
22 TOTAL SALES – Include items such as earned
premiums, annuity considerations, gross investment
income, and items of a similar nature. Exclude income
from unconsolidated affiliates. Also exclude income that
is to be reported in item 32.b., certain realized and
unrealized gains (losses).
23 TOTAL ASSETS – include current items such as agents'
balances, uncollected premiums, amounts recoverable
from reinsurers, and other current notes and accounts
receivable (net of allowances for doubtful items) arising
from the ordinary course of business.
24 TOTAL LIABILITIES - Include current items such as
loss liabilities, policy claims, commissions due, other
current liabilities arising from the ordinary course of
business, and long-term debt.
25 TOTAL OWNERS’ EOUITY – include mandatory
securities valuation reserves that are appropriations of
retained earnings.
32-b. CERTAIN REALIZED AND UNREALIZED GAINS
(LOSSES) – See special instructions for item 32.b. on
page 16 of this form.
B. Railroad transportation companies – Railroad transportation
companies should include only the net annual balances for
interline settlement items (car hire, car repair, freight revenues,
switching revenues, and loss and damage settlements) in items
23 and 24 of Form BE-12(SF).
C. Real Estate – The ownership of real estate is defined to be a
business enterprise, and if the real estate is foreign owned, it is
a U.S. affiliate of a foreign person. A BE-15 report is required
unless the enterprise is otherwise exempt.
Residential real estate held exclusively for personal use and not
for profit making purposes is not subject to the reporting
requirements. A residence that is an owner's primary residence
that is then leased by the owner while outside the United States,
but which the owner intends to reoccupy, is considered real
estate held for personal use and therefore not subject to the
reporting requirements. Ownership of U.S. residential real estate
by a corporation whose sole purpose is to hold the real estate
for the personal use of the owner(s) of the corporation is
considered to be real estate held for personal use and therefore
not subject to the reporting requirements.
Aggregation of real estate investments — A foreign
person holding real estate investments that are reportable on
the BE-15 must aggregate all such holdings for the purpose of
applying the reporting criteria (see instruction I.C. on page 12
of this form). If the aggregate of such holdings exceeds one
or more of the exemption levels, then the holdings must be
reported even if individually they would be exempt. In such a
case, file a single BE-15 report covering the aggregated
holdings. If on an aggregated basis any one of the following
three items – total assets (do not net out liabilities), or sales
or gross operating revenues, excluding sales taxes, or net
income after provision for U.S. income taxes – exceeds $125
miſſion (positive or negative), file Form BE-15(LF). If
permission has been received in writing from BEA to file on
an non-aggregated basis, you must report each real estate
investment on a Form BE-15(LF) if a Form BE-15(LF) would
have been required on an aggregated basis. Non-aggregated
reports should be filed as a group and you should inform BEA
that they are all for one owner.
In part I, Identification of U.S. Affiliate, BEA is not seeking a
legal description of the property, nor necessarily the address
of the property itself. Because there may be no operating
business enterprise for a real estate investment, what BEA
seeks is a consistently identifiable name for the investment
(i.e., the U.S. affiliate) together with an address to which
report forms can be mailed so that the investment (affiliate)
can be reported on a consistent basis for each reporting
period and for the various BEA surveys.
Thus, in item 1 of the BE-15 survey forms the "name and
address" of the U.S. affiliate might be:
XYZ Corp. N.V., Real Estate Investments
C/O B&K inc., Accountants
120 Major Street
Miami, FL XXXXX
If the investment property has a name, such as Sunrise
Apartments, the name and address in item 1 of the BE-15 survey
forms might be:
Sunrise Apartments
C/o ABC Real Estate
120 Major Street
Miami, FL XXXXX
There are questions throughout the Form BE-15(SF) that may not
apply to certain types of real estate investments, such as the
employer identification number, the number of employees, and
exports and imports. In such cases, mark the items "none."
Joint ventures and partnerships – If a foreign person has a
direct or indirect voting ownership interest of 10 percent or more
in a joint venture, partnership, etc., that is formed to own and hold,
develop, or operate real estate, the joint venture, partnership, etc.,
in its entirety, not just the foreign person's share, is a U.S. affiliate
and must be reported as follows:
1. If the foreign interest in the U.S. affiliate is directly held by
the foreign person then a Form BE-15(SF) or BE-15(LF) must
be filed by the affiliate (subject to the exemption criteria and
aggregation rules discussed above).
2. If a voting interest of more than 50 percent in the U.S.
affiliate is owned by another U.S. affiliate, the owned affiliate
must be fully consolidated in the Form BE-15(SF) or
BE-15(LF) of the owning affiliate.
3. If a voting interest of 50 percent or less in the U.S. affiliate
is owned by another U.S. affiliate, and no U.S. affiliate
owns a voting interest of more than 50 percent, then a
separate Form BE-15(SF) or BE-15(LF) must be filed by the
owned affiliate. The BE-15 report(s) of the owning
* must show an equity investment in the owned
affiliate.
D. Farms — For farms that are not operated by their foreign -
owners, the income statements and related items should be
prepared based on the extent to which the income from the
farm accrues to, and the expenses of the farm are borne by,
the owner. Generally this means that income, expenses, and
gain (loss) assignable to the owner should reflect the extent to
which the risk of the operation falls on the owner. For example,
even though the operator and other workers on the farm are
hired by a management firm, if their wages and salaries are
assigned to, and borne by, the farm operation being reported,
then the operator and other workers should be reported as
employees of that farm operation and the wages and salaries
should be included as an expense in the income statement.
EXAMPLES:
1. If the farm is leased to an operator for a fixed fee, the owner
should report the fixed fee in "total sales" and should report
the non-operating expenses that he or she may be -
responsible for, such as real estate taxes, interest on loans,
etc., as expenses in the income statement.
2. If the farm is operated by a management firm that oversees
the operation of the farm and hires an operator, but the
operating income and expenses are assigned to the owner,
the income and expenses so assigned should be shown in
the requested detail in the income statement, and related
items, as appropriate. (The report should not show just one
item, i.e., the net of income less the management fee, where
the management fee includes all expenses.)
E. Estates, trusts, and intermediaries
A FOREIGN ESTATE is a person and therefore may have direct
investment, and the estate, not the beneficiary, is considered to
be the owner.
A TRUST is a person but it is not a business enterprise. The
trust is considered to be the same as an intermediary, and
should report as outlined in the instructions for intermediaries
below.
For reporting purposes, the beneficiary(ies) of the trust, is (are)
considered to be the owner(s) for purposes of determining the
existence of direct investment, except in two cases: (1) if there
is, or may be, a reversionary interest, and (2) if a corporation or
other organization creates a trust designating its shareholders or
members as beneficiaries. In these two cases, the creator(s) of
the trust is (are) deemed to be the owner(s) of the investments
of the trust (or succeeding trusts where the presently existing
trust had evolved out of a prior trust), for the purposes of
determining the existence and reporting of direct investment.
This procedure is adopted in order to fulfill the statistical
purposes of this survey and does not imply that control over an
enterprise owned or controlled by a trust is, or can be, exercised
by the beneficiary(ies) or creator(s).
FOR AN INTERMEDIARY:
1. If a U.S. intermediary holds, exercises, administers, or
manages a particular foreign direct investment in the United
States for the beneficial owner, such intermediary is
responsible for reporting the required information for, and in
the name of, the U.S. affiliate. Alternatively, the U.S.
intermediary can instruct the U.S. affiliate to submit the
required information. Upon so doing, the intermediary is
released from further liability to report, provided it has
informed BEA of the date such instructions were given
and provides BEA the name and address of the U.S. affiliate,
and has supplied the U.S. affiliate with any information in
the possession of, or which can be secured by, the
intermediary that is necessary to permit the U.S. affiliate to
complete the required reports. When acting in the capacity
of an intermediary, the accounts or transactions of the U.S.
intermediary with a foreign beneficial owner are considered
as accounts or transactions of the U.S. affiliate with the
foreign beneficial owner. To the extent such transactions or
accounts are unavailable to the U.S. affiliate, BEA may
require the intermediary to report them.
FORM BE-15(SF) (REV. 2/2004)
Page 17
V. SPECIAL INSTRUCTIONS – Continued
2. If a foreign beneficial owner holds a U.S. affiliate through a
foreign intermediary, the U.S. affiliate may report the
intermediary as its foreign parent but, when requested,
must also identify and furnish information concerning the
foreign beneficial owner. Accounts or transactions of the
U.S. affiliate with the foreign intermediary are considered
as accounts or transactions of the U.S. affiliate with the
foreign beneficial owner.
F. Determining place of residence and country of
jurisdiction of individuals – An individual is considered a
resident of, and subject to the jurisdiction of, the country in
which physically located. The following guidelines apply to
individuals who do not reside in their country of citizenship:
1. Individuals who reside, or expect to reside, outside their
country of citizenship for less than one year are considered
to be residents of their country of citizenship.
2. Individuals who reside, or expect to reside, outside their
country of citizenship for one year or more are considered
to be residents of the country in which they are residing,
except as provided in the next paragraph.
3. If an owner or employee of a business enterprise resides
outside the country of location of the enterprise for one
year or more for the purpose of furthering the business of
the enterprise, and the country of the business enterprise
is the country of citizenship of the owner or employee,
then such owner or employee nevertheless is considered
a resident of the country of citizenship, provided there is
the intent to return to the country of citizenship within a
reasonable period of time.
4. Individuals and members of their immediate family who
are residing outside their country of citizenship as a result
of employment by the government of that country —
diplomats, consular officials, members of the armed
forces, etc. — are considered to be residents of their
country of citizenship.
VI. FILING THE BE-15
. Due date — File a fully completed and certified Form BE-15(LF),
BE-15(SF), or BE-15(EZ) no later than May 31, 2004. If the U.S.
affiliate is exempt from filing Form BE-15(LF), BE-15(SF), or
BE-15(EZ) based on the criteria in instruction I.B. on page 12,
complete and file Form BE-15 Supplement C by May 31, 2004.
. Mailing report forms to a foreign address - BEA will
accommodate foreign owners that wish to have forms sent
directly to them. However, the extra time consumed in mailing
to and from a foreign place may make meeting filing deadlines
difficult. In such cases, please consider using BEA's electronic
filing option. Go to our web site at www.bea.gov/astarſ for
details about this option. To obtain forms on line go to:
www.bea.gov/bea/surveys/fdiusurv.htm.
- Extensions — For the efficient processing of the survey and
timely dissemination of the results, it is important that your
report be filed by the due date. Nevertheless, reasonable
requests for extension of the filing deadline will be granted.
Requests for extensions of more than 30 days MUST be in
writing and should explain the basis for the request. You may
request an extension via email at be 12/15(g)bea.gov. For
extension requests of 30 days or less, you may call BEA at
(202) 606-5577. All requests for extensions must be received
BEFORE the due date of the report.
U.S. Department of Commerce
Bureau of Economic Analysis
D. Assistance — For assistance, telephone (202) 606–5577,
FAX (202) 606–5319, or send e-mail to be 12/15G)hea.gov.
Forms can be obtained from BEA's web site at:
www.bea.gov/bea/surveys/fdiusurv.htm.
. Annual stockholders’ report or other financial
statements — Please furnish a copy of your FY 2003 annual
stockholders' report or Form 10K when filing the BE-15
report. If you do not publish an annual stockholders' report
or file Form 10K, please provide any financial statements
that may be prepared. Information contained in these
statements is useful in reviewing your report and may
reduce the need for further contact. Section 5(c) of the
International Investment and Trade in Services Survey Act,
Public Law 94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as
amended, provides that this information can be used for
analytical and statistical purposes only and that it must be
held strictly confidential.
. Number of copies – File a single original copy of the form
and supplement(s). If you are not filing electronically, this
should be the copy with the address label in Part 1, if such a
labeled copy has been provided by BEA. (Make corrections
to the address on the label, if necessary.) You should also
retain a file copy of each report for three years to facilitate
resolution of any questions that BEA may have concerning
your report. (Both copies are protected by law; see the sta-
tement on confidentiality in paragraph VI.H., below.)
. Where to send the report - To file electronically, see our
web site at www.bea.gov/astarſ.
Send reports filed by mail through the U.S. Postal Service to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-49(A)
Washington, DC 20230
Direct reports filed by private delivery service to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE49(A)
Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005
. Confidentiality — The information filed in this report may be
used only for analytical and statistical purposes and access to
the information shall be available only to officials and
employees (including consultants and contractors and their
employees) of agencies designated by the President to
perform functions under the Act. The President may authorize
the exchange of the information between agencies or officials
designated to perform functions under the Act, but only for
analytical and statistical purposes. No official or employee
(including consultants and contractors and their employees)
shall publish or make available any information collected
under the Act in such a manner that the person to whom the
information relates can be specifically identified. Reports and
copies of reports prepared pursuant to the Act are confidential
and their submission or disclosure shall not be compelled by
any person without the prior written permission of the person
filing the report and the customer of such person where the
information supplied is identifiable as being derived from the
records of such customer (22 U.S.C. 3104).
FORM BE-15(SF) (REV. 2/2004)
Page 18

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