What does consolidation — advances from affiliiate mean?

The removal of internal funding advances received from affiliated entities to avoid double-counting in consolidated financial statements.

How do you interpret consolidation — advances from affiliiate?

Changes reflect shifts in internal capital allocation strategies between the parent and its affiliates.

How does consolidation — advances from affiliiate compare across companies?

Standard accounting adjustment found in all large, multi-entity corporations with complex subsidiary structures.

Toll Brothers TOL Consolidation — Advances From Affiliiate

Discontinued — last reported Q4 '18

Similar metrics at other companies

ACGLConsolidation Eliminations — Advances To Affiliate

-$1.85B+2.1%

CDWConsolidation Eliminations — Advances To From Affiliates

-$1.9M-179%

CQPConsolidation Eliminations — Advances To Affiliate Current

-$80M—

WMGConsolidation Eliminations — Payments For Advance To Affiliate

$95M+208%

SJMConsolidation Eliminations — Investments In And Advances To Affiliates At Fair Value

-$20.65B-3.6%

GLPIConsolidation Eliminations — Payments For Advance To Affiliate

$0—

Other financials

Income statement

See full

Revenue$2.5B-7.6%

Gross profit$604.9M-14.3%

Operating income$346.6M-22.9%

Net income$260.6M-26.1%

EPS (diluted)$2.72-22.3%

Balance sheet

See full

Cash & equivalents$1.2B+53.9%

Total debt$139.8M+8.1%

Total equity$8.5B+6.6%

Total assets$14.5B+2.4%

Cash flow

See full

Operating cash flow$134.5M-62.9%

CapEx$24.5M+56.9%

Free cash flow$110.0M-68.3%

Valuation

See full

Market cap$14.55B+34.0%

Enterprise value$13.52B+32.0%

P/E11.3×+3.4×

P/S1.3×+0.3×

Profitability

See full

Gross margin24.2%-2.0pp

Operating margin14.6%-2.0pp

Net margin11.7%-1.3pp

FCF margin11%+4.2pp

Returns & leverage

See full

Return on equity15.7%-2.4pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Toll Brothers in its filing.

Tagged under the XBRL concept tol:AdvancesFromAffiliiate.

The official record: Toll Brothers’s 10-K, filed December 20, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does consolidation — advances from affiliiate mean?: The removal of internal funding advances received from affiliated entities to avoid double-counting in consolidated financial statements.
How do you interpret consolidation — advances from affiliiate?: Changes reflect shifts in internal capital allocation strategies between the parent and its affiliates.
How does consolidation — advances from affiliiate compare across companies?: Standard accounting adjustment found in all large, multi-entity corporations with complex subsidiary structures.