8.3 Presentation of Income and Comprehensive Income

These three requirements reflect the basis for presenting the noncontrolling interest in the first place: equity interests are similar, and in the absence of an explanation to the contrary, it is assumed that the equity interests in net income and comprehensive income are each determined in a similar manner. By separately presenting the total amount of net income and comprehensive income and the amounts of each that are allocable to the parent and noncontrolling interest, the reporting entity ensures that the nuances of each individual interest (e.g., liquidation preferences or preferred returns) are transparently presented to users of the financial statements.

In addition to complying with these presentation requirements, a reporting entity may elect to present on the face of its consolidated income statement amounts attributable to the parent for income from continuing operations and discontinued operations. If the reporting entity elects not to present these items on the face of the consolidated income statements, it must separately disclose this information.