BE-15B Form BE-15B

Annual Survey of Foreign Direct Investment in the United States

be15b

Annual Survey of Foreign Direct Investment in the United States

OMB: 0608-0034

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FORM

BE-15B

(REV. 2/2009)

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

BEA Identification Number

MANDATORY — CONFIDENTIAL

2008 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT
IN THE UNITED STATES
FORM BE-15B
Name and address of U.S. business enterprise – If a label has been
affixed, make any changes directly on the label. If a label has not been
affixed, enter the BEA Identification Number of this U.S. affiliate, if
available, in the box at the upper right hand corner of this page.

DUE DATE: MAY 31, 2009
MAIL
REPORTS
TO:

U.S. Department of Commerce
Bureau of Economic Analysis
BE-49(A)
Washington, DC 20230

1002 Name of U.S. affiliate
0
1010 c/o (care of)
0

OR
DELIVER
REPORTS
TO:

U.S. Department of Commerce
Bureau of Economic Analysis, BE-49(A)
Shipping and Receiving Section, M100
1441 L Street, NW
Washington, DC 20005
OR

0998 State
0

1004 City
0
1005 ZIP Code
0

www.bea.gov/efile

ELECTRONIC FILING:

1003 Street or P.O. Box
0

Foreign Postal Code

OR
FAX REPORTS TO:

ASSISTANCE**
Email:
Telephone:
Copies of blank forms:
Definitions of key terms:

(202) 606-1905*

*See the NOTE at the bottom of this page if you plan to
fax your report to BEA.

be12/15@bea.gov
(202) 606-5577
www.bea.gov/fdi
See pages 15 and 16.

**Please include your BEA Identification number with all requests.
Who must file BE-15B – Form BE-15B must be filed for a U.S. affiliate with total assets, sales or gross operating revenues, or net
income greater than $120 million (positive or negative), except for majority-owned affiliates with total assets, sales or gross
operating revenues, or net income greater than $275 million (positive or negative) (a BE-15A is required for these affiliates). For
more information on filing requirements, see instruction I.2 on page 15. If you do not meet these filing criteria, see instruction
I.A.1 starting on page 13 to determine which form to file.
MANDATORY
CONFIDENTIALITY
PENALTIES

➔

This survey is being conducted under the International Investment and Trade in Services
Survey Act (P.L. 94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended). The filing of
reports is mandatory and the Act provides that your report to this Bureau is confidential.
Whoever fails to report may be subject to penalties. See page 13 for more details.

PERSON TO CONSULT CONCERNING QUESTIONS
ABOUT THIS REPORT — Enter name and address
CERTIFICATION — The undersigned official certifies that
this report has been prepared in accordance with the
applicable instructions, is complete, and is substantially
accurate except that, in accordance with instruction III.C.
on page 16, estimates may have been provided.

1000 Name
0
1029 Address
0
1030 0

1031 0

Date

Authorized official’s signature

1001 Telephone number
0

Area code

Number

0999 FAX number
0

Area code

Number

Extension

0990 Print or type name
0

0991 Print or type title
0

0992 Telephone number
0

0993 FAX number
0

May FAX and/or email be used in correspondence between your enterprise and BEA, including FAX’ed reports, and/or to
discuss questions relating to this survey that may contain confidential information about your company?
NOTE: The internet and telephone systems are not secure means of transmitting confidential information unless it is encrypted.
If you choose to communicate with BEA via FAX or electronic mail, BEA cannot guarantee the security of the information during
transmission, but will treat information we receive as confidential in accordance with Section 5(c) of the International
Investment and Trade in Services Survey Act.
1027

Email: 1 1
1
2

Yes (If yes, please print your email address.)
No

Email address (Please print)
0
1028

1032

FAX:

1
1

1
2

Yes
No

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BE-15A, Page 1, Pantone 109 Yellow, 10%

PART I – IDENTIFICATION OF U.S. AFFILIATE
IMPORTANT
Please review the Instructions starting on page 13 before completing this form. Insurance and real estate
companies see Special Instructions starting on page 22.
• Accounting principles – If feasible use U.S. Generally Accepted Accounting Principles to complete
Form BE-15 unless you are requested to do otherwise by a specific instruction. References in the
instructions to Financial Accounting Standards Board Statements are referred to as "FAS."
• U.S. affiliate’s 2008 fiscal year – The affiliate’s financial reporting year that had an ending date in
calendar year 2008.
• Consolidated reporting – A U.S. affiliate must file on a fully consolidated domestic U.S. basis, including
in the consolidation ALL U.S. affiliates in which it directly or indirectly owns more than 50 percent of
the outstanding voting interest. The consolidation rules are found in instruction IV.2. on page 16.
• Rounding – 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.

000

1. Which financial reporting standards will be used to complete this BE-15 report?
NOTE: Unless it is highly burdensome or not feasible, the BE-15 report should be completed using U.S.
Generally Accepted Accounting Principles (U.S. GAAP).
1399 1
1

U.S. Generally Accepted Accounting Principles

International Financial Reporting Standards or other reporting standards, but with adjustments to
correct for any material differences between U.S. GAAP and the reporting standards used. Specify
the reporting standards used.

International Financial Reporting Standards or other reporting standards, but without adjustments
to correct for any material differences between U.S. GAAP and the reporting standards used.
Specify the reporting standards used.

2. Consolidated reporting by the U.S. affiliate – Is more than 50 percent of the voting interest in this U.S. affiliate owned by
another U.S. affiliate of your foreign parent (see the diagram below for assistance in answering this question)?
1400 1

Yes

If "Yes" – Do not complete this report unless exception 2.c. described in the consolidation rules on
page 16 applies. If this exception does not apply, 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 BE-15 Claim for Exemption with item 2(d) completed on page 3 of that form. The BE-15
Claim for Exemption can be downloaded from our web site at: www.bea.gov/fdi

If "No" – Complete this report in accordance with the consolidation rules on pages 16.
CONSOLIDATION OF U.S. AFFILIATES
NOTE – Arrows connecting
boxes represent direction
of ownership

Foreign Parent

Foreign

10 to 100 percent

United States
U.S. affiliate A
>50 percent

U.S. affiliate B should be consolidated on the
BE-15 report for U.S. affiliate A because U.S.
affiliate B is more than 50 percent owned by
U.S. affiliate A.

U.S. affiliate B

FORM BE-15B (REV. 2/2009)

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Page 2

BE-15B, Page 2, Pantone 109 Yellow, 10%

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
3. Enter Employer Identification Number(s) used by the U.S. affiliate to file income and payroll taxes.
Primary
1006 1

Other
2

–

4. REPORTING PERIOD – Reporting period instructions are found in instruction 4 starting on page 17. If
there was a change in fiscal year, please review instruction 4.b. on page 17.
Month

This U.S. affiliate’s financial reporting year ended in calendar year 2008 on

1007

Day

Year

_ _/ _ _ /2
__
0 _0 8_

Example – If the financial reporting year ended on March 31, report for the 12-month period ended March 31, 2008.
NOTE – Affiliates with a fiscal year that ended within the first week of January 2009 are considered to have a 2008
fiscal year and should report December 31, 2008 as their 2008 fiscal year end.
5. Did the U.S. business enterprise become a U.S. affiliate during its fiscal year that ended in calendar year 2008?
1008 1
1

Yes

If "Yes" – Enter date U.S. business enterprise became a U.S. affiliate and see
instruction 5 on page 17 to determine how to report for the first time.
Month
1009

Day

Year

_ _/ _ _ /_ _ _ _

NOTE – For a U.S. business enterprise that became a U.S. affiliate during its fiscal year that ended in
calendar year 2008, leave the close FY 2007 data columns blank.
6. Is the U.S. affiliate named on page 1 separately incorporated in the United States, including its territories and
possessions?
1011 1
1

Yes

No – Reporting rules for unincorporated affiliates are fund in instruction 6 starting on page 17.
Reporting rules for real estate are found in instruction V.C. on page 22.

7. U.S. affiliates fully consolidated in this report – U.S. affiliates that are more than 50-percent foreign-owned must be
fully consolidated in this report, except as noted in the consolidation rules on page 16.
Enter the number of U.S. affiliates consolidated in this report in the box below. Hereinafter they are considered to be
one U.S. affiliate. If the report is for a single U.S. affiliate, enter "1" in the box below. Exclude from the consolidation
all foreign business enterprises or operations owned by this U.S. affiliate.
1012 1

Number – If number is greater than one, complete the Supplement A on page 9.
8. U.S. affiliates NOT fully consolidated – See instruction 8 on page 18.
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 on page 11.
The U.S. affiliate named on page 1 must include data for unconsolidated U.S. affiliates on an equity basis,
or using the fair value option per FAS 159 (The Fair Value Option for Financial Assets and Financial
Liabilities), or, if less than 20 percent owned, in accordance with FAS 115 (Accounting for Certain
Investments in Debt and Equity Securities) or the cost method of accounting. The U.S. affiliate named on
page 1 also must notify the unconsolidated U.S. affiliates of their obligation to file a BE-15 in their own
names (see pages 13 and 14 to determine the appropriate form for these affiliates to file).

FORM BE-15B (REV. 2/2009)

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BE-15B, Page 3, Pantone 109 Yellow, 10%

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
Ownership — Enter percent of ownership, in this U.S. affiliate, to a tenth of one percent, based on voting interest (or
an equivalent interest if an unincorporated affiliate). "Voting interest" is defined in instruction 9–14 on page 18.
Foreign parent — A foreign parent is the FIRST person or entity outside the U.S. in a chain of ownership that has a 10 percent
or more voting interest (direct or indirect) in this U.S. affiliate. The country of foreign parent is the country of incorporation or
organization if the parent is a business enterprise, or of residence if the parent is an individual. For individuals, see instruction
V.F. on page 23.
Voting interest

Country of
foreign parent

Name of each direct owner

BEA
USE
ONLY

Close FY 2007
(2)

Close FY 2008
(1)

Ownership held directly by foreign parent(s) of this affiliate—see example 1 below.
Enter name and country of each foreign parent with direct ownership—if more than 2, continue on separate sheet.
1

1017

10.

1018

_ _ _._

%
%

_ _ _._

%
%

3
3

Ownership held indirectly by foreign parents of this U.S. affiliate through another U.S. affiliate — see example 2 below. Enter name
of each U.S. affiliate that owns this affiliate and the country of the foreign parent — if more than 2, continue on separate sheet.
1

11.

1063

12.

1064

13. Direct ownership held by all other persons (do not list names)

1061

_ _ _._
1
_ _ _._

%
%

_ _ _._

14. TOTAL of directly held ownership interests — Sum of items 9 through 13.

_ _ _._
2
_ _ _._

%
%

2
%

_ _ _._

100.0%

3
3
3

100.0%

EXAMPLES OF DIRECT AND INDIRECT FOREIGN OWNERSHIP

Example 2 – Ownership held indirectly by a foreign parent
through another U.S. affiliate

Example 1 – Ownership held directly by a foreign parent
Foreign Company X
Foreign Company Y is the foreign
parent because it is the first owner
located outside the U.S. in a chain
of ownership that owns 10 percent
or more of the U.S. affiliate.

Foreign Parent
10 to 100 percent

Foreign Company Y
(Foreign Parent)

Foreign
United States
U.S. affiliate A

10 to 100 percent
Foreign

U.S. affiliate B is indirectly owned by
the foreign parent through U.S.
affiliate A. U.S. affiliate A has a direct
ownership interest in U.S. affiliate B.

United States
U.S. affiliate

U.S. affiliate B

NOTE: Arrows connecting boxes represent direction of ownership
FOREIGN PARENT AND UBO INDUSTRY CODES
Note: "ISI codes" are International Surveys Industry codes, as given in the Guide to Industry Classifications for International Surveys, 2007.
01 Government and government-owned or -sponsored enterprise, or
quasi-government organization or agency
02 Pension fund — Government run

16 Real estate (ISI code 5310)
17 Information (ISI codes 5111–5191)
18 Professional, scientific, and technical services (ISI codes 5411–5419)

03 Pension fund — Privately run

19 Other services (ISI codes 1150, 2132, 2133, 5321, 5329, and 5611–8130)

04 Estate, trust, or nonprofit organization (that part of ISI
code 5252 that is estates and trusts)

Manufacturing, including fabricating, assembling, and
processing of goods:

05 Individual

20 Food (ISI codes 3111–3119)

Private business enterprise, investment organization,
or group engaged in:

21 Beverages and tobacco products (ISI codes 3121 and 3122)

06 Insurance (ISI codes 5242, 5243, 5249)

22 Pharmaceuticals and medicine (ISI code 3254)

07 Agriculture, forestry, fishing and hunting (ISI codes 1110–1140)

23 Other chemicals (ISI codes 3251–3259, except 3254)

08 Mining (ISI codes 2111–2127)

24 Nonmetallic mineral products (ISI codes 3271–3279)
25 Primary and fabricated metal products (ISI codes 3311–3329)

09 Construction (ISI codes 2360–2380)

26 Computer and electronic products (ISI codes 3341–3346)

10 Transportation and warehousing (ISI codes 4810–4939)

27 Machinery manufacturing (ISI codes 3331–3339)

11 Utilities (ISI codes 2211–2213)

28 Electrical equipment, appliances and components (ISI codes 3351–3359)

12 Wholesale and retail trade (ISI codes 4231–4251 and 4410–4540)

29 Motor vehicles and parts (ISI codes 3361–3363)
13 Banking, including bank holding companies (ISI codes 5221 and 5229)
14 Holding companies, excluding bank holding
companies (ISI codes 5512 and 5513)

31 Other manufacturing (ISI codes 3130–3231, 3261, 3262, 3370–3399)
32 Petroleum manufacturing, including integrated petroleum and petroleum
refining without extraction (ISI codes 3242–3244)

15 Other finance (ISI codes 5223, 5224, 5231, 5238, that part of ISI
code 5252 that is not estates and trusts, and ISI code 5331)
FORM BE-15B (REV. 2/2009)

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30 Other transportation equipment (ISI codes 3364–3369)

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BE-15B, Page 4, Pantone 109 Yellow, 10%

PART I – IDENTIFICATION OF U.S. AFFILIATE – Continued
15.

Enter the name and industry code of the foreign parent. If there is more than one foreign parent, list each and its
industry code on a separate sheet.

15a. Enter name of foreign parent. If the foreign parent is an individual enter "individual."
3011

15b. Enter the foreign parent industry code from the list of codes on page 4 that best describes the PRIMARY activity of the
SINGLE entity named as the foreign parent. DO NOT base the code on the world-wide sales of all consolidated subsidiaries
of the foreign parent. If the foreign parent is an individual, enter code "05."
3018

16.

For each foreign parent, furnish the name, country and industry code of the ultimate beneficial owner (UBO) – see UBO
examples below. 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. The UBO is that person or entity, proceeding up the ownership chain beginning
with and including the foreign parent, that is not more than than 50 percent owned or controlled by another person or
entity. See instruction II.O. on page 15 for the complete definition of UBO.

16a. Is the foreign parent also the UBO? If the foreign parent is owned our controlled more than 50 percent by another person
or entity, then the foreign parent is NOT the UBO.
3019 1

Yes (as shown in example 1 below) –
Skip to 16d.

No (as shown in examples 2A and 2B below) –
Continue with 16b.

16b. Enter the name of the UBO of the foreign parent. If the UBO is an individual enter "individual."
Identifying the UBO as "bearer shares" is not an acceptable response.
3021

16c. Enter country of the UBO. For individuals, see instruction V.F. on page 23.

BEA USE ONLY
3022 1

16d. Enter the industry code of the UBO from the list of codes on page 4. NOTE – Select the industry code that best reflects
the consolidated world-wide sales of all majority-owned subsidiaries. If the UBO is an individual, enter code "05."
3023

DO NOT use code "14" unless you receive permission from BEA.
EXAMPLES OF THE ULTIMATE BENEFICIAL OWNER (UBO)
NOTE: Arrows connecting boxes represent direction of ownership

Example 1 – The UBO and Foreign Parent are the same
Foreign Company X

The UBO and foreign parent are
the same if the foreign parent is
NOT more than 50 percent owned
or controlled by another person or
entity.

1 to 50%
Foreign Parent = UBO

Foreign
United States

U.S. affiliate
Examples 2A and 2B – The Foreign Parent is NOT the UBO
A. The UBO is a foreign person or entity
Foreign Company Y is the foreign
parent of the U.S. affiliate; foreign
Company X is the UBO. The
foreign parent is not the UBO if
the foreign parent is more than 50
percent owned or controlled by
another person or entity.
Foreign

B. The UBO is a U.S. person or entity

Foreign Company X
(UBO)
>50 Percent

Foreign Company Z
(Foreign Parent)

Foreign Company Y
(Foreign Parent)

United States

Base prints black

Foreign

>50 Percent

United States
U.S. affiliate

FORM BE-15B (REV. 2/2009)

Foreign Company Z is the foreign
parent of the U.S. affiliate. U.S.
Company C is the UBO.

U.S. Company C
(UBO)

U.S. affiliate

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BE-15B, Page 5, Pantone 109 Yellow, 10%

PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE
Section A – INDUSTRY CLASSIFICATION AND TOTAL SALES OF FULLY CONSOLIDATED U.S. AFFILIATE
17. What is (are) the major product(s) and/or service(s) of the fully consolidated 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

Enter the 4-digit International Surveys Industry (ISI) code(s) and the sales associated with each code in items 18 through 21
below. If you use fewer than four codes, you must account for total sales in items 18 through 20.
Column (1): ISI Code – For a full explanation of each code, see the Guide to Industry Classifications for International Surveys,
2007. A copy of this guide can be found at: www.bea.gov/naics2007. For an inactive affiliate, base the industry classification(s)
on its last active period; for "start-ups" with no sales, show the intended activity(ies). Holding company (ISI code 5512) is often
an invalid industry classification for a conglomerate. A conglomerate must determine its industry code based on the activities
of the fully consolidated domestic U.S. business enterprise. Book publishers, printers, and Real Estate Investment trusts see
instructions 18–23 on page 18.
Column (2): Sales – Total sales or gross operating revenues, excluding sales taxes – Gross sales minus, allowances, and
discounts; or gross operating revenues.
EXCLUDE

INCLUDE
• Total sales or gross operating revenues, excluding sales
taxes – Gross sales minus returns, allowances, and discounts;
or gross operating revenues.
• Revenues generated during the year from the operations of a
discontinued business segment.
• ONLY finance and insurance companies and units should
report dividends and interest. Companies involved with repos
and reverse repos see instructions 18–23 on page 18.
• Total income of holding companies including income (loss)
from equity investments in unconsolidated U.S. affiliates and
all foreign entities, certain gains (losses), other income, plus
sales and gross operating revenue, if any.

• Sales or consumption taxes levied directly on the
consumer.
• Excise taxes levied directly on manufacturers, wholesalers,
and retailers.
• Gains or losses from DISPOSALS of discontinued
operations and gains and losses from derivative
instruments.
• Dividends and interest earned by non-finance and
non-insurance companies and units.
ISI code
(1)
1

18. Enter code with largest sales

$
1

1167

22. Sales not accounted for above – Items 18 through 21 must all have
entries if amounts are entered on this line.

1173

000

1166

21. Enter code with 4th largest sales

000

1165

20. Enter code with 3rd largest sales

(2)
Bil. Mil. Thous. Dols.
$

1164

19. Enter code with 2nd largest sales

Sales

000

23. TOTAL SALES OR GROSS OPERATING REVENUES (excluding
sales taxes) – Sum of items 18 through 22, columns (2)

1174

Section B – OTHER FINANCIAL AND OPERATING DATA FOR FY 2008

000

Bil. Mil. Thous. Dols.

24. Net income (loss) – after provision for U.S. Federal, state, and local income taxes

000

25. Total employee compensation for FY 2008 — 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. INCLUDE wages and salaries and employee
benefit plans. EXCLUDE compensation related to activities of a prior period, such as compensation
capitalized or charged to inventories in prior periods. EXCLUDE compensation of contract workers and
1
other workers not carried on the payroll of this U.S. affiliate. See instruction 25 starting on page 18.
2253 $

000

26. Expenditures for research and Development (R&D) performed BY the U.S. affiliate — INCLUDE all
costs 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 R&D funded by the U.S. affiliate but performed by others. See instructions 26
on page 19.

2403

000

27. Expenditures for property, plant, and equipment for FY 2008 — INCLUDE all purchases by, or
transfers (at net book value) to, the U.S. affiliate of land, mineral and timber rights, and other
property, plant and equipment. Also INCLUDE capitalized and expensed exploration and
development expenditures. EXCLUDE expenditures made in prior years that are reclassified in the
current year. Also EXCLUDE land and other property, plant and equipment obtained through the
acquisition of or merger with another company during the year. DO NOT net out sales and other
dispositions of property, plant, and equipment from the expenditures reported on this line.

2390

28. Gross book value (at historical cost) of all land and other property, plant, and equipment at close of
FY 2008

2397

FORM BE-15B (REV. 2/2009)

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2159

000

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BE-15B, Page 6, Pantone 109 Yellow, 10%

000

PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE – Continued
Section C – U.S. TRADE IN GOODS BY U.S. AFFILIATE ON A SHIPPED BASIS
Report the value of goods exported and imported by the U.S. affiliate during the fiscal year that ended in calendar year 2008.
EXCLUDE services. Software publishers see the discussion under packaged general use computer software on page 20.
Report amounts on a "shipped basis." See instruction 29–30 starting on page 19 for details of what to include on these lines.
Bil. Mil. Thous. Dols.

29. TOTAL EXPORTS, INCLUDING CAPITAL GOODS – Shipped by U.S. affiliate to foreign persons
(valued f.a.s. U.S. port) in the fiscal year that ended in calendar year 2008.

2502

30. TOTAL IMPORTS, INCLUDING CAPITAL GOODS – Shipped to U.S. affiliate by foreign persons
(valued f.a.s. foreign port) in the fiscal year that ended in calendar year 2008.

2515

Bil. Mil. Thous. Dols.
1

31. Total assets

2109

000

32. Total liabilities

2114

33. Total owners’ equity—Item 31 minus item 32

000

Please check box if total liabilities are zero

1
2120

000

Section E – SCHEDULE OF EMPLOYMENT BY LOCATION
34. Did you have more than 500 employees in the fiscal year that ended in calendar year 2008
(EXCLUDE contract workers and other workers not carried on the payroll of this U.S. affiliate)?

1
2
3

Yes – Provide data for up to fifteen primary states in which this affiliate has employees. If the affiliate
has employees in more than fifteen states, sum the data for the remaining states on line 50.
No – Provide data for up to five primary states in which this affiliate has employees. If this affiliate
has employees in more than five states, sum the data for the remaining states on line 50.
Please check box if you have no employees

Complete this schedule for the five
or fifteen states (see above) in
which the U.S. affiliate has the
most employees.

STATE – Enter name
(if applicable, enter name of U.S. territory or possession, or
U.S. off-shore oil and gas sites, on the lines below.)

Number of employees at
the end of FY 2008
3

35.
3

Include in this schedule only employees
of those U.S. business enterprises that
are fully consolidated into the reporting
U.S. affiliate.

36.
3

37.
3

38.
Do not consolidate or include
employees of foreign business
enterprises or operations, whether
incorporated or unincorporated.

39.
3

40.
3

Include all employees on the payroll at
the end of the fiscal year that ended in
calendar year 2008, including part-time
employees. EXCLUDE contract workers.
A count taken at some other date during
the reporting period may be given
provided it is a reasonable estimate of
the number on the payroll at the end of
the fiscal year.
Location of employees is the U.S. state,
territory, or possession in which the
person is permanently employed.

41.
3

42.
3

43.
3

44.
3

45.

46.

47.
3

48.
Reporting employment (including how
to report when employment is subject
to unusual variations) is discussed in
more detail in instructions 34–51
starting on page 20.

49.

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50. Employment not accounted for above

2764

51. TOTAL – Sum of items 35 through 50

2700

52. Administrative office and other auxiliary employees – Of the total number of employees
reported in item 51 above, how many are administrative office and other auxiliary unit
employees? INCLUDE employees at corporate headquarters, central administrative, and
regional offices, and operating units that provide administration and management or
support services (such as accounting, data processing, legal, research and development
and testing, and warehousing) to more than one U.S. operating unit. EXCLUDE
employees that provide administration and management or support services for
one unit.
FORM BE-15B (REV. 2/2009)

000

Close FY 2008

Section D – BALANCE SHEET
Insurance companies see page 22 for special instructions.

1102 1

000

Number of
employees
3
1178

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PART II – FINANCIAL AND OPERATING DATA OF U.S. AFFILIATE – Continued
Section F — OTHER FINANCIAL AND OPERATING DATA (MAJORITY-OWNED U.S. AFFILIATES)
53. 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
2008? "Voting interest" is defined in instructions 9–14 on page 18.
1101 1

Yes – Answer items 54 through 63

No – STOP. You have completed the BE-15B.

Bil.

NOTE: Complete items 54 through 63 ONLY if item 53 is answered "Yes"
54. Certain gains (losses), included in item 24, net income (loss) – Report at gross amount before
income tax effect. See instruction 54 starting on page 20 for details of what to include on this
line.

2151

55. Income taxes – Provision for U.S. Federal, state, and local incomes taxes. INCLUDE the
income tax effect of certain gains (losses) reported in item 54. EXCLUDE production royalty
payments.

2156

56. Interest income from all sources (including foreign parents and affiliates), after deduction of
taxes withheld by the payer. Do not net against interest expense (item 57).

2400

57. Interest expense plus interest capitalized, paid or due to all payees (including to foreign
parents and affiliates), before deduction of U.S. tax withheld by the affiliate. Do not net
against interest income (item 56).

2401

Mil.

Thous. Dols.

000

DISTRIBUTION OF SALES OR GROSS OPERATING REVENUES
Distribute sales or gross operating revenues among three categories — sales of goods, sales of services, and
investment income. For the purpose of this distribution, "goods" are normally outputs that are tangible and "services"
are normally outputs that are intangible. When a sale consists of both goods and services and cannot be unbundled
(i.e., the goods and services are not separately billed), classify the sales as goods or services based on whichever
accounts for a majority of the value. Give best estimates if actual figures are not available.
NOTE — BEFORE COMPLETING THIS SECTION, PLEASE SEE THE INSTRUCTIONS FOR ITEMS 58 THROUGH 63 ON PAGE 21.
Insurance companies also see page 22, instruction V.A. for special instructions.
Utilities and Oil & Gas Producers and Distributors — To the extent feasible, revenues are to be allocated between
sales of goods and sales of services. Revenues earned from the sale of a product (e.g., electricity, natural gas, oil,
water, etc.) are to be reported as sales of goods. Revenues earned from the distribution or transmission of a product
(e.g., fees received for the use of transmission lines, pipelines, etc.) are to be reported as sales of services.
Bil.

58. TOTAL SALES OR GROSS OPERATING REVENUES, EXCLUDING SALES TAXES —
Equals item 23, column (2) on page 6, and also sum of items 59 through 61

2243

59. Sales of Goods

2244

60. Investment income included in gross operating revenues. Include ALL interest and
dividends generated by finance and insurance subsidiaries or units.

2245

61. Sales of Services, Total — Sum of items 62 through 63

2246

62.

To U.S. persons or entities

2247

63.

To foreign persons

2257

Mil.

Thous. Dols.

000

1200 1

1201 1

1202 1

1203 1

Base prints black

000

BEA USE ONLY

FORM BE-15B (REV. 2/2009)

000

Page 8

BE-15B, Page 8, Pantone 109 Yellow, 10%

000

Page 9

Base prints black

BE-15B, page 9, Pantone 109 Yellow, 10%

BUREAU OF ECONOMIC ANALYSIS

5133

5132

5131

5130

5129

5128

5127

5126

5125

5124

5123

5122

5121

5120

5119

5118

5117

5116

5115

5114

5113

5112

5111

(2)

(1)

Name of each U.S. affiliate consolidated
(as represented in item 7, Part I)

BEA USE ONLY

–

(3)

Employer Identification Number used
by U.S. affiliate listed in column (2) to
file income and payroll taxes

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 listed below plus the reporting U.S. affiliate must agree with item 7, Part I of Form BE-15B. Continue
listing onto as many additional copied pages as necessary.

LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE
NOTE – If you filed a Supplement A or a computer printout of Supplement A with your 2007 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.

BE-15B Supplement A (2008)

FORM
(REV. 2/2009)

U.S. DEPARTMENT OF COMMERCE

Page number

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

5110

(4)

Name of U.S. affiliate which holds the direct
ownership interest in the U.S. affiliate listed in
column (2)

Primary Employer Identification Number as
shown in item 3, Part I of BE-15B

Percentage of direct voting
ownership that the U.S. affiliate
named in column (4) holds in the
U.S. affiliate named in column (2). –
Enter percentage to nearest tenth.
(5)

–

Name of U.S. affiliate as shown on page 1, of BE-15B

BEA USE ONLY

FORM BE-15B (REV. 2/2009)

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Page 10

BE-15B, page 10, Pantone 109 Yellow, 10%

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

5159

5158

5157

5156

5155

5154

5153

5152

5151

5150

5149

5148

5147

5146

5145

5144

5143

5142

5141

5140

5139

5138

5137

5136

5135

5134

(2)

(1)

Name of each U.S. affiliate consolidated
(as represented in item 7, Part I)

BEA USE ONLY

–

(3)

Employer Identification Number used
by U.S. affiliate listed in column (2) to
file income and payroll taxes

Percentage of direct voting
ownership that the U.S. affiliate
Name of U.S. affiliate which holds the direct
ownership interest in the U.S. affiliate listed in named in column (4) holds in the
U.S. affiliate named in column (2). –
column (2)
Enter percentage to nearest tenth.
(4)
(5)

BE-15B Supplement A (2008) – LIST OF ALL U.S. AFFILIATES FULLY CONSOLIDATED INTO THE REPORTING U.S. AFFILIATE – Continued Page number

Page 11

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BUREAU OF ECONOMIC ANALYSIS

U.S. DEPARTMENT OF COMMERCE

6221

6220

6219

6218

6217

6216

6215

6214

6213

6212
6

6211

(2)

(1)

BEA USE ONLY

Name of each U.S. affiliate in which a direct
interest is held but that is not listed in
Supplement A

(2)

Address of each U.S. affiliate
listed in column (2)
Give number, street, city, state, and ZIP Code

Supplement B must be completed by a reporting affiliate which files a BE-15B 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-15B. Continue
listing onto as many additional copied pages as necessary.

LIST OF ALL U.S. AFFILIATES IN WHICH THE REPORTING AFFILIATE (AS CONSOLIDATED) HAS A DIRECT
OWNERSHIP INTEREST BUT WHICH ARE NOT FULLY CONSOLIDATED
NOTE – If you filed a Supplement B or a computer printout of Supplement B with your 2007 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.

BE-15B Supplement B (2008)

FORM
(REV. 2/2009)

Page number

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

Yes
No
2

No
2

Yes

No
2

Yes

No
1

Yes
2

No
2

Yes

–

(5)
5

(4)
4

Employer Identification Number
used by U.S. affiliate listed in
column (2) to file income and
payroll taxes

Has each
affiliate been
notified of
obligation to file?
Mark (X) one

Percentage of direct voting
ownership interest that the fully
consolidated U.S. affiliate named
on page 1 of this Form BE-15B,
holds in the U.S. affiliate named in
column (2). – Enter percentage to
nearest tenth.
(6)

Name of U.S. affiliate as shown on page 1, of BE-15B

BEA USE ONLY

FORM BE-15B (REV. 2/2009)

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Page 12

BE-15B, page 11, Pantone 109 Yellow, 10%

6234

6233

6232

6231

6230

6229

6228

6227

6226

6225

6224

6223

6222

(2)

(1)

Name of each U.S. affiliate in which a direct
interest is held but that is not listed in
Supplement A

BEA USE ONLY

(2)

Address of each U.S. affiliate
listed in column (2)
Give number, street, city, state, and ZIP Code

BE-15B Supplement B (2008) – LIST OF U.S. AFFILIATES – Continued

Yes

No
1

Yes
2

No
1

Yes
2

No
2

Yes

No
1

Yes
2

Yes

–

(5)
5

(4)
4

Employer Identification Number
used by U.S. affiliate listed in
column (2) to file income and
payroll taxes

Has each
affiliate been
notified of
obligation to file?
Mark (X) one

6
6

Page number

OMB No. 0608-0034: Approval Expires xx/xx/xxxx

2008 ANNUAL SURVEY OF FOREIGN DIRECT INVESTMENT IN THE UNITED STATES
BE-15B INSTRUCTIONS
NOTE: Instructions in section IV are cross referenced by number to the items located on pages 2 to 12 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).
A response is required from persons (in the broad sense,
including companies) subject to the reporting requirements of
the BE-15 survey, whether or not they are contacted by BEA.
Also, persons contacted by BEA concerning their being subject
to reporting, either by sending them a report form or by written
inquiry, must respond pursuant to section 806.4 of 15 CFR,
Chapter VIII. This may be accomplished by completing and
submitting Form BE-15A, BE-15B, BE-15(EZ), or BE-15 Claim For
Exemption, whichever is applicable, by May 31, 2009.
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. These civil penalties are subject to inflationary
adjustments. Those adjustments are found in 15 CFR 6.4.
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. 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 this form.
Respondent Burden – Public reporting burden for this BE-15B
is estimated to vary from 75 minutes to 9 hours per response,
with an average of 3.5 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.
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.
I. REPORTING REQUIREMENTS
To determine which BE-15 report to file, read the following
sections on this page and review the flow chart on page 14.
A. Who must report – A BE-15 report is required for each U.S.
affiliate, i.e., for each U.S. business enterprise in which a
foreign person or entity 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 2008.
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.
FORM BE-15B (REV. 2/2009)

Page 13

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
U.S.

Foreign person A

↓

100%
U.S. affiliate B
100% directly owned
by foreign person A

↓

50%
U.S. affiliate C
100% x 50% = 50% indirectly
owned by foreign person A

↓

25%
U.S. affiliate D
100% x 50% x 25% = 12.5%
indirectly owned by foreign person A
NOTE: Arrows connecting boxes represent direction of ownership.

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.
Airline 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. Which form to file – Please review the questions below
and the flow chart on page 14 to determine if your U.S.
business is required to file Form BE-15B. Blank forms
can be found at: www.bea.gov/fdi
a. Were at least 10 percent of the voting rights in your
business directly or indirectly owned by a foreign
person or entity at the end of your fiscal year that
ended in calendar year 2008?
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-15B. File
Form BE-15 Claim for Exemption by May 31, 2009.

Which 2008 BE-15 Form to File?

I. REPORTING REQUIREMENTS – Continued
b. 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 fiscal year that ended
in calendar year 2008?

At least 10 percent voting interest directly
and/or indirectly owned by a foreign person?
Yes

Yes – Continue with question c.

No – Skip to question d.
More than 50 percent of the voting rights
owned by another U.S. affiliate at end of
the fiscal year ending in calendar year 2008?

c. Do different foreign persons hold a direct and an
indirect ownership interest in this U.S. affiliate
(exception c to the consolidation rules)? (The
consolidation rules are found in instruction IV.2.
starting on page 16.)

File the BE-15 Claim
for Exemption

Yes

Yes – Continue with question d.
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 the BE-15 Claim for Exemption
with page 1 and item 2(d) on page 3 completed by
May 31, 2009, 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.

Do different foreign persons hold a direct and
indirect ownership interest in the U.S. affiliate
(exception c to the consolidation rules found in
instruction IV.2. on page 16)?

Yes

d. 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 $40 million at the end of, or for, its fiscal year
that ended in calendar year 2008?

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
the BE-15 Claim for Exemption.

Yes – Continue with question e.
No – You are not required to file a Form
BE-15B. File Form BE-15 Claim for Exemption by
May 31, 2009.
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 $120 million at the end of, or for, its
fiscal year that ended in calendar year 2008?

Assets, sales, or net income (loss)
greater than $40 million?
Yes

Yes – Skip to question h.

No – Continue with question f.
File Form BE-15 Claim
for Exemption

f. Did you file either a BE-12 or a BE-15 for a fiscal
year that ended BEFORE January 1, 2008?
Yes – Continue with question g.

Assets, sales, or net income (loss)
greater than $120 million?

No – File Form BE-15(EZ) by May 31, 2009.
g. Did you receive a request in writing from BEA to
file Form BE-15(EZ) for the fiscal year that ended in
calendar year 2008?

Yes

Majority-Owned directly and/or
indirectly by foreign parents?

Yes – File Form BE-15(EZ) by May 31, 2009.
No – You are not required to file a BE-15 for your
fiscal year that ended in calendar year 2008. However,
please inform BEA if your affiliate name, address, or
contract person has changed.
h. Was the U.S. affiliate majority-owned by its foreign
parent(s) at the end of its fiscal year that ended in
calendar year 2008? (A U.S. affiliate is "majorityowned" if the combined direct and indirect
ownership interests of all foreign parents of the U.S.
affiliate exceed 50 percent.)

Yes

Did you file either a BE-12 or
a BE-15 for a fiscal year that
ended BEFORE
January 1, 2008?

No
Yes

Assets, sales, or
net income (loss)
greater than $275
million?
Yes

File Form
BE-15B

Did you receive a
request in writing
from BEA to file
Form BE-15(EZ)?
Yes

File Form
BE-15(EZ)

Yes – Continue with question i.
No – File Form BE-15B by May 31, 2009.

File Form
BE-15A

i. 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 $275 million at the end of, or for, its
fiscal year that ended in calendar year 2008?
Yes – File Form BE-15A by May 31, 2009.
No – File Form BE-15B by May 31, 2009.

FORM BE-15B (REV. 2/2009)

Page 14

File Form
BE-15B

File Form
BE-15(EZ)

You are not required to file
a BE-15 for your fiscal year
that ended in calendar
year 2008. However,
please inform BEA if your
affiliate name, address, or
contact person has
changed.

I. REPORTING REQUIREMENTS – Continued
2. Who must file Form BE-15B – 2008 Annual Survey
of Foreign Direct Investment in the United States?
A Form BE-15B must be completed and filed by
May 31, 2009, 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 2008, if:
a. 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 $120 million (positive
or negative) at the end of, or for, its fiscal year that
ended in calendar year 2008, and EITHER b. OR c.
below is applicable.
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 2008, was 50 percent or less (i.e., the voting
securities, or equivalent interest were not majority
owned by foreign parents), or
c. 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. affiliate (not just
the foreign parent’s share) exceeded $275 million
(positive or negative) at the end of, or for, its fiscal
year that ended in calendar year 2008.
B. 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 to do otherwise. Those holdings
not aggregated must be reported separately. Real estate is
discussed more fully in instruction V.C. on page 22.
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.

FORM BE-15B (REV. 2/2009)

Page 15

F. Direct investment means the ownership or control,
directly or indirectly, by one person of 10 percent 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 percent 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 percent
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. U.S. corporation means a business enterprise
incorporated in the United States.
N. 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 than 50
percent owned or controlled by another person. Note:
Stockholders of a closely or privately held corporation are
normally considered to be an associated group and may
be a UBO.
P. 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, bank holding companies, and financial holding
companies under the Gramm-Leach-Bliley Act.
Q. 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 books. The asset would not be
considered as owned by the lessor.
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.

III. GENERAL INSTRUCTIONS
A. Changes in the reporting entity – DO NOT restate close
fiscal year 2007 balances for changes in the consolidated
reporting entity that occurred during fiscal year 2008. The
close fiscal year 2007 balances should represent the
reporting entity as it existed at the close of fiscal year 2007.
B. 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.
C. 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-15B 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 29 and 30, U.S. trade in goods by U.S. affiliate on a
shipped basis; items 35 through 51, employment data
disaggregated by State; and items 58 through 63, distribution
of sales or gross operating revenues by whether the sales
were goods, investment income, or services, and the
distribution of services by transactor. 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.
D. 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 2 to 12 of this form.
PART I – 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.B. on page 15 and V.C. on page 22 for
details.
Do not prepare your BE-15 report using the proportionate
consolidation method. Except as noted in 2b. and 2c.
below, consolidate all majority-owned U.S. affiliates into
your BE-15 report.
Unless the exceptions discussed below apply, any
deviation from these consolidation rules must be
approved in writing each year by BEA. In accordance
with FAS 94 (Consolidation of all Majority-Owned
Subsidiaries), consolidation of majority-owned subsidiaries
is required even if their operations are not homogeneous
with those of the U.S. affiliate that owns them. If you file
deconsolidated reports, you must file the same type of
reports (i.e., BE-15A or BE-15B) that would have been
required if a consolidated report was filed.
Report majority-owned subsidiaries, if not consolidated, on
the BE-15B using the equity method of accounting. DO NOT
eliminate intercompany accounts (e.g., receivables or
liabilities) for affiliates not consolidated.

FORM BE-15B (REV. 2/2009)

Page 16

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, unless the report is a BE-15(EZ)
which does not have a Supplement B, and each U.S.
affiliate not consolidated must file its own Form BE-15.
a. DO NOT CONSOLIDATE FOREIGN SUBSIDIARIES,
BRANCHES, OPERATIONS, OR INVESTMENTS NO
MATTER WHAT THE PERCENTAGE OWNERSHIP.
Include foreign holdings owned 20 percent or more using
either the equity method of accounting or the fair value
option per FAS 159 (The Fair Value Option for Financial
Assets and Financial Liabilities). DO NOT report
employment, land, and other property, plant, and
equipment and DO NOT eliminate intercompany accounts
(e.g., receivables or liabilities) for holdings reported using
the equity method or the fair value option.
DO NOT list any foreign holdings of the U.S. affiliate on
the Supplement B.
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 property, 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.
b. Special consolidation rules apply to U.S. affiliates
that are limited partnerships or that have an
ownership interest in a U.S. limited partnership.
These rules can be found on our web site at:
www.bea.gov/ltdpartner15. Also see instruction 6.b. on
page 17 for additional information about partnerships.
c. 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 report. (See diagram below.)
Foreign person B

Foreign person A

Foreign
U.S.

100%
U.S. affiliate X
30%

60%
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.
NOTE: Arrows connecting boxes represent direction of ownership.

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. DO NOT eliminate
intercompany accounts (e.g., receivables or liabilities) for
affiliates not consolidated.

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT FORM – Continued
4. Reporting period – The report covers the U.S. affiliate’s
2008 fiscal year. The affiliate’s 2008 fiscal year is defined as
the affiliate’s financial reporting year that had an ending
date in calendar year 2008.
Special Circumstances:
a. 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
2008.
b. Change in fiscal year
(1) New fiscal year ends in calendar year 2008 – A
U.S. affiliate that changed the ending date of its
financial reporting year should file a 2008 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, 2007 fiscal
year end date but changed its 2008 fiscal year end
date to March 31. Affiliate A should file a 2008 BE-15
report covering the 12 month period from April 1, 2007
to March 31, 2008.
(2) No fiscal year ending in calendar year 2008 –
If a change in fiscal year results in a U.S. affiliate
not having a fiscal year that ended in calendar year
2008, the affiliate should file a 2008 BE-15
report that covers 12 months. The following
example illustrates the reporting requirements.
Example 2: U.S. affiliate B had a December 31, 2007
fiscal year end date but changed its next fiscal year
end date to March 31. Instead of having a short fiscal
year ending in 2008, affiliate B decides to have a 15
month fiscal year running from January 1, 2008 to
March 31, 2009. Affiliate B should file a 2008 BE-15
report covering a 12 month period ending in calendar
year 2008, such as the period from April 1, 2007 to
March 31, 2008.
For 2009, 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, 2008
to March 31, 2009.
5. Reporting for a U.S. business that became a U.S.
affiliate during fiscal year 2008 —
a. A U.S. business enterprise that was newly
established in fiscal year 2008 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 2008. 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 2008 that became a U.S. affiliate in fiscal year
2008 should file a report covering a full 12 months of
operations.
6. 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.B. on page 15 and
Instruction V.C. on page 22 for details on real estate.
(2) Indirectly owned – Except as noted in the
exceptions to the consolidation rules on page 16, an
indirectly owned unincorporated U.S. affiliate that is
owned more than 50 percent (voting interest) by

FORM BE-15B (REV. 2/2009)

Page 17

another U.S. affiliate should be fully consolidated on
the report with the U.S. affiliate that holds the voting
interest greater than 50 percent. An indirectly owned
unincorporated U.S. affiliate owned 50 percent (voting
interest) or less by another U.S. affiliate should file a
separate BE-15 report if no other U.S. affiliate owns a
voting interest of more than 50 percent.
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 9-14 on page 18.
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 9-14 on
page 18. 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.

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS
OF THE REPORT 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 limited partners are presumed to have
no voting interest, and, therefore, no direct
investment in the limited partnership.
Managing partners – See discussion under
"General Partnerships" above.
(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. These rules can be found on our web
site at: www.bea.gov/bea/ltdpartners15
c. Limited Liability Companies (LLCs)
Determination of voting interest – "Voting interest" is
defined in instruction 9-14 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 by
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 investments in
U.S. business enterprises that are not fully consolidated and
that are owned 20 percent or more using either the equity
method of accounting or the fair value option per FAS 159
(The Fair Value Option for Financial Assets and Financial
Liabilities). DO NOT report employment, land, and other
property, plant, and equipment and DO NOT eliminate
intercompany accounts (e.g., receivables or liabilities) for
holdings reported using the equity method or the fair value
option.
You may report immaterial investments using the cost
method of accounting if this treatment is consistent with
your normal reporting practice. Report investments owned
less than 20 percent in accordance with FAS 115
(Accounting for Certain Investments in Debt and Equity
Securities) or the cost basis 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-15B on the Supplement B.
9-14
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

FORM BE-15B (REV. 2/2009)

in a partnership. See instruction 6b(1) and 6b(2)(a) starting
on page 17 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.
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 and preferred. 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.
Part II – FINANCIAL AND OPERATING DATA OF U.S.
AFFILIATE
Section A – INDUSTRY CLASSIFICATION AND TOTAL
SALES OF FULLY CONSOLIDATED U.S. AFFILIATE
18-23
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) – Report hybrid or
mortgage REITS in ISI code 5252 (Funds, trusts, and other
financial vehicles). Report all other REITS in ISI code 5310
(Real estate).
Repos and Reverse Repos – On the sales schedule (lines
18–23), interest income and interest expense associated with
repos and reverse repos should be offset against one another
and reported at the net amount. On the balance sheet,
reverse repos should be reported as assets and included on
line 31 (total assets) while repos should be reported as
liabilities and included on line 32 (total liabilities).
If you are required to complete page 8, then on line 60
(investment income included in gross operating revenues)
interest income and interest expense associated with repos
and reverse repos should be offset against one another and
reported at the net amount. However, on lines 56 (interest
income from all sources) and 57 (interest expense plus
interest capitalized) interest income and interest expense
associated with repos and reverse repos should be reported
at the gross amounts.
Section B – OTHER FINANCIAL AND OPERATING DATA
FOR FY 2008
25. Total employee compensation for FY 2008 – Base
employee compensation on payroll records related to
activities during the reporting period. Employee
compensation consists of:

Page 18

b. Employee benefit plans are employer expenditures for
all employee benefit plans, including those required by
government statute, those resulting from a collectivebargaining contract, or those that are voluntary. 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.

Part II – FINANCIAL AND OPERATING DATA OF U.S.
AFFILIATE – Continued
Section B – OTHER FINANCIAL AND OPERATING DATA
FOR FY 2008 – Continued
a. 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.
b. Employee benefit plans are employer expenditures for
all employee benefit plans, including those required by
government statute, those resulting from a collectivebargaining contract, or those that are voluntary.
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.
26. Expenditures for R&D performed by the U.S.
affiliate – 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 engineering, the
physical sciences such as chemistry and physics, the
biological sciences such as medicine, the mathematical
and statistical sciences, and computer science. R&D
includes these activities if the purpose is to do one or
more of the following:
a. The planned, systematic pursuit of new knowledge or
understanding toward general application (basic
research);
b. The acquisition of knowledge or understanding to meet
a specific, recognized need (applied research); and
c. The application of knowledge or understanding toward
the production or improvement of a product, service,
process, or method (development).
Basic research is the pursuit of new scientific
knowledge or understanding that does not have specific
immediate commercial objectives, although it may be in
fields of present or potential commercial interest.
Applied research applies the findings of basic research
or other existing knowledge toward discovering new
scientific knowledge that has specific commercial
objectives with respect to new products, services,
processes, or methods.
Development is the systematic use of the knowledge or
understanding gained from research or practical
experience directed toward the production or significant
improvement of useful products, services, processes, or
methods, including the design and development of
prototypes, materials, devices, and systems.

FORM BE-15B (REV. 2/2009)

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.
INCLUDE all costs incurred to support R&D. INCLUDE
wages, salaries, and related costs; materials and
supplies consumed; depreciation on R&D property and
equipment, cost of computer software used in R&D
activities; utilities, such as telephone, telex, electricity,
water, and gas; travel costs and professional dues;
property taxes and other taxes (except income taxes)
incurred on account of the R&D organization or the
facilities they use; insurance expenses; maintenance
and repair, including maintenance of buildings and
grounds; company overhead including: personnel,
accounting, procurement and inventory, and salaries of
research executives not on the payroll of the R&D
organization. EXCLUDE capital expenditures,
expenditures for tests and evaluations once a
prototype becomes a production model, patent
expenses, and income taxes and interest.
EXCLUDE expenditures for quality control; routine
product testing; market research; sales promotion,
sales service, and other nontechnological activities;
routine technical services; research in the social
sciences or psychology; geological and geophysical
exploration activities, and advertising programs to
promote or demonstrate new products or processes.
Section C – U.S. TRADE IN GOODS BY U.S. AFFILIATE
ON A SHIPPED BASIS
29-30
U.S. trade in goods is the physical movements of goods
between the customs area of the United States and the
customs area of a foreign country. 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 imports or exports of the U.S.
affiliate.
BASIS FOR REPORTING U.S. TRADE IN GOODS DATA:
"Shipped" versus "Charged"
Report U.S. trade in goods on this BE-15 report using
the "shipped" basis. The shipped basis looks at the
physical movement of goods. Data reported on the
"shipped" basis for exports are based on (i) when, (ii) to
whom, and (iii) to where the goods were shipped. Data
reported on the "shipped" basis for imports are based on (i)
when, (ii) from whom, and (iii) from where the goods were
shipped. The "shipped" basis is the same basis on which
official U.S. trade statistics are kept and to which the trade
data reported on the BE-15 will be compared.
DO NOT REPORT the U.S. trade in goods data using
the "charged" basis. U.S. affiliates normally keep their
accounting records on a "charged basis." Data reported on
the "charged" basis are based on (i) when, (ii) to or from
whom, and (iii) to or from where goods are charged for
accounting and bookkeeping purposes. The "charged" basis
may be used if there is no material difference between it
and the "shipped" basis. However, if there is a material
difference, the "shipped" basis must be used or
adjustments must be made to the "charged" basis data to
approximate a "shipped" basis. To adjust "charged" basis
data to a "shipped" basis it may be necessary to look at
export and import declarations filed with U.S. customs or
shipping and receiving documents to determine the
physical movement of goods.

Page 19

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORT FORM – Continued
Part II – FINANCIAL AND OPERATING DATA OF U.S.
AFFILIATE – Continued
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 a 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.
Timing – Only include goods actually shipped between the
United States and a foreign country during FY 2008 regardless
of when the goods were charged or consigned. For example,
include goods shipped by the U.S. affiliate in FY 2008 that
were charged or consigned in FY 2009, but exclude goods
shipped in FY 2007 that were charged or consigned in FY 2008.
Valuation of exports and imports – Value U.S. goods
exports and imports f.a.s. (free alongside ship) at the port-ofexportation. INCLUDE 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. EXCLUDE 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.
In-transit goods – Exclude 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).

Section E – SCHEDULE OF EMPLOYMENT BY LOCATION
34–51
Number of employees at the end of FY 2008 – Employees
is the number of full-time and part-time employees on the
payroll at the end of FY 2008. If employment at the end of FY
2008, or the count taken at some other time during FY 2008,
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 2008. If given, the average should be the average for FY
2008 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. For example, an employee
carried on the payroll of a company located in California who
is on a duty assignment for one year or less in Texas should
be shown as being located in California, not Texas. (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 under the
category "foreign." Exclude these employees from the
BE-15 report if they are carried on a foreign payroll.
Section F – OTHER FINANCIAL AND OPERATING DATA
(MAJORITY-OWNED U.S. AFFILIATES)

Capital goods – Include capital goods (e.g., manufacturing
equipment used to produce goods for sale) but exclude the
value of ships, planes, railroad rolling stock, and trucks that
were temporarily outside the United States transporting
people or merchandise.

54. Certain 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 U.S. Generally Accepted
Accounting Principles.

Consigned goods – 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.

Report at gross amount before income tax effect. Report
gains (losses) resulting from:

Electricity and water – Report the value of electricity and
water exports and imports if the product value can be
separated out from the service value. Report ONLY the
product value (electricity and water). DO NOT report the
service value (transmission and distribution).
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,
but simply transmit for others via a pipeline.
Packaged general use computer software – INCLUDE
exports and imports of packaged general use computer
software. Value such exports and imports at the 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
or 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.
EXCLUDE receipts and payments for software that is
transmitted electronically rather than physically shipped.
Also, EXCLUDE negotiated licensing fees for software to
use on networks.

FORM BE-15B (REV. 2/2009)

a. Extraordinary, unusual, or infrequently occurring
items that are material. Include losses from accidental
damage or disasters, after estimated insurance
reimbursement. Include other 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;
b. 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;
c. Sale or disposition of land, other property, plant
and equipment, or other assets, and FAS 144
(Accounting for the Impairment or Disposal of
Long-Lived Assets) 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;

Page 20

IV. INSTRUCTIONS FOR SPECIFIC SECTIONS OF THE
REPORT FORM – Continued

58–63

DISTRIBUTION OF SALES OR GROSS
OPERATING REVENUES

Part II – FINANCIAL AND OPERATING DATA OF U.S.
AFFILIATE – Continued

Disaggregate the total sales or gross operating revenues into
sales of goods, investment income, and sales of services.

Section F – OTHER FINANCIAL AND OPERATING DATA
(MAJORITY-OWNED U.S. AFFILIATES) –
Continued

59. Sales of goods – Goods are normally outputs that are
tangible. Report as sales of goods:

d. Sales or other dispositions of financial assets, including
investment securities; FAS 159 (The Fair Value Option
for Financial Assets and Financial Liabilities) fair value
option gains and losses EXCEPT those related to
unconsolidated affiliates; FAS 115 (Accounting for
Certain Investments in Debt and Equity Securities)
holding gains (losses) on securities classified as trading
securities; FAS 115 impairment losses; and gains and
losses derived from derivative instruments. Dealers in
financial instruments (including securities, currencies,
derivatives, and other financial instruments) and finance
and insurance companies, see special instructions
below;
e. Goodwill impairment as defined by FAS 142 (Goodwill
and Other Intangible Assets);
f. 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 18 through 23 on page 6;
g. Remeasurement of the U.S. affiliate’s foreigncurrency-denominated assets and liabilities due to
changes in foreign exchange rates during the reporting
period;
h. The cumulative effect of a change in accounting
principle; and
i. Change in accounting estimate of provision for expected
stock option forfeitures under the inception method
as defined by FAS 123 (Share-Based Payment).
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 54:
(a) Impairment losses as defined by FAS 115,
(b) Realized gains (losses) on trading or dealing,
(c) Unrealized gains (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 (losses), due to changes in the
valuation of financial instruments, that are taken to other
comprehensive income. Reflect such gains (losses) only in
the ending owners’ equity balance (line 33).
EXCLUDE income from explicit fees and commissions
from item 54. Include income from these fees and
commissions as part of your income from operations on
lines 18 through 23 on page 6.
(2) Real estate companies – Include in item 54:
(a) Impairment losses as defined by FAS 144, and
(b) Goodwill impairment as defined by FAS 142.
EXCLUDE the revenues earned and expenses incurred
from the sale of real estate you own. Such revenues
should be reported as operating income in items 23
(column 2), 58, and as sales of goods in item 59.

FORM BE-15B (REV. 2/2009)

• Mass produced media, including exposed film, video
tapes, DVD’s, audio tapes, and CD’s.
• Books. NOTE: Book publishers – To the extent
feasible, report as sales of services all revenues
associated with the design, editing, and marketing
activities necessary for producing and distributing
books that you both publish and sell. If you cannot
unbundle (i.e., separate) these revenues from the
value of the books you sell, then report your total
sales as sales of goods or services based on the
activity that accounts for a majority of the value.
• Energy trading activities where you take title to the
goods. NOTE: If you act in the capacity of a broker or
agent to facilitate the sale of goods and you do not
take title to the goods, report your revenue (i.e.,
commissions) as sales of services in item 61.
• Magazines and periodicals sold in retail stores. NOTE:
Report subscription sales as sales of services in item 61.
• Packaged general use computer software.
• Structures sold by businesses in real estate.
• Revenues earned from building structures by
businesses in construction.
• Electricity, Natural gas, and Water. NOTE: Revenues
derived from transmitting and/or distributing these
goods, as opposed to revenues derived from the sale
of the actual product, should, to the extent feasible, be
reported as sales of services in item 61.
60. Investment income – Report dividends and interest
generated by finance and insurance activities as
investment income. NOTE: Report commissions and
fees as sales of services in item 61.
61. Sales of services – Services are normally outputs
that are intangible. Report as sales of services:
• Advertising revenue.
• Commissions and fees earned by companies engaged
in finance and real estate activities.
• Premiums earned by companies engaged in insurance
activities. NOTE: Calculate as direct premiums written
(including renewals) net of cancellations, plus
reinsurance premiums assumed, minus reinsurance
premiums ceded, plus unearned premiums at the
beginning of the year, minus unearned premiums at
the end of the year.
• Commissions earned by agents or brokers (i.e.,
wholesalers) who act on behalf of buyers and sellers
in the wholesale distribution of goods. NOTE: Agents
or brokers do not take title to the goods being sold.
• Magazines and periodicals sold through subscriptions.
NOTE: Report magazines and periodicals sold through
retail stores, as sales of goods in item 59.
• Newspapers.
• Pipeline transportation.
• Software downloaded from the Internet, electronic
mail, an Extranet, Electronic Data Interchange network,
or some other online system.
• Computer systems design and related services.
• Negotiated licensing fees for software to be used on
networks.
• Electricity transmission and distribution, Natural gas
distribution, and Water distribution.

Page 21

V. SPECIAL INSTRUCTIONS
A. Insurance companies – Reporting should be in
accordance with U.S. Generally Accepted Accounting
Principles not Statutory Accounting Practices (SAP). For
example, the BE-15 report should include the following
assets even though they are not acceptable under SAP: 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:
23

TOTAL SALES – Include items such as earned
premiums, annuity considerations, dividends, interest,
and items of a similar nature. Exclude income from
unconsolidated affiliates. Also exclude income that
would be reported in item 54, certain realized and
unrealized gains (losses).
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.

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.

TOTAL OWNERS’ EQUITY – Include mandatory
securities valuation reserves that are appropriations of
retained earnings.

CERTAIN GAINS (LOSSES) – See special instructions
for item 54. on page 21 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 31 and 32.
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.
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.B. on page 15
of this form). File a single BE-15B 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
$275 million (positive or negative) and the foreign voting
ownership in the real estate exceeds 50 percent, file Form
BE-15A. 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-15A if a Form BE-15A 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.

FORM BE-15B (REV. 2/2009)

Page 22

On page 1, for the name and address of the U.S. business
enterprise, 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, on page 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 on page 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-15B 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 BE-15 report must
be filed by the affiliate (subject to the 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 BE-15 report 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 BE-15 report must be filed by the owned
affiliate. The BE-15 report(s) of the owning affiliate(s)
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.

V. SPECIAL INSTRUCTIONS – Continued

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.
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 he or she is 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.

FORM BE-15B (REV. 2/2009)

Page 23

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 paragraphs 3
and 4 below.
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 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
A. Due date – File a fully completed and certified Form
BE-15A, BE-15B, or BE-15(EZ) no later than May 31, 2009.
If the U.S. affiliate is exempt from filing Form BE-15A,
BE-15B, and BE-15(EZ), complete and file the BE-15 Claim
for Exemption by May 31, 2009.
B. 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/efile for details about this option. To obtain
forms online go to: www.bea.gov/fdi
C. 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
be12/15@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 NO LATER THAN the
original due date of the report.
D. Assistance – For assistance, telephone (202) 606-5577 or
send email to be12/15@bea.gov. Forms can be obtained
from BEA’s web site at: www.bea.gov/fdi
E. Annual stockholders’ report or other financial
statements – Please furnish a copy of your FY 2008 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, including the accompanying notes.
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.
F. 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 on page 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 statement on confidentiality on
page 13.)

File Type	application/pdf
File Modified	2009-02-04
File Created	2009-02-04