InvstEq

Announcements
1

It’s come to our attention that InvstEq (equity investments) works very differently for FactSet than it did for Compustat. So we’ve updated the “Full Description” for InvstEq for FactSet users. You can see it here: https://www.portfolio123.com/doc/doc_detail.jsp?factor=InvstEq&popUpFullDesc=1

Under Compustat, InvstEq was essentially unconsolidated subsidiaries, and would therefore be implicitly classified as an operating asset, unlike InvstAdvOther (other investments and advances). FactSet treats this item very differently: it includes ALL long-term investments, whether unconsolidated subsidiaries or the investments classified under InvstAdvOther.

If you want to use InvstEq the way Compustat used to use it, use InvstEq - InvstAdvOther instead. If you want to include all long-term investments, simply use InvstEq.

If you have any questions, please post them below.

2

Thanks for keeping us posted. Does this affect calculations for EV?

3

No, it doesn’t. The only thing it might affect is a calculation of net operating assets.

4

Would invsteq include marketable securities?

5

No, those would normally be classified under CashEquiv.

6

Is there a line item reporting unconsolidated subsidiaries by market value rather than book value?

7

No. How would you obtain the market value of an unconsolidated subsidiary? Remember, an unconsolidated subsidiary is a company that the parent company owns less than 50% of. That company may be public or private. If it’s private, you’d have no way to calculate its market value.