Book Value Per Share and Minority Interest

Reading 29, example 19.
We are asked to calculate the book value per share.
We have the total equity value and I have adjusted it to get the book value for the common shareholders. So I have removed the portion related to preferred share sand then I have also removed the minority interest. However, the solution shows that minority interests belong to the book value per share which is confusing me now. I thought minority interest doesn’t have a claim on the equity of the parent company.
Why arent we removing them

Because accounting’s gotten weird.

Minority interest used to be shown between Liabilities and Equity, in an area called the mezzanine. That made sense.

Now they shove it into Equity, which makes a whole lot less sense.

Note that although they don’t have a claim on the equity of the parent company, they do have a claim on the equity of the subsidiary, and on your consolidated balance sheet you’re claiming 100% of the subsidiary’s equity.

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