NI is the same. But COGS is higher in (Prop) Cons. due to (a) the fact that both entities COGS are reported, instead of just the one for EQ method; and (b) fair value adj (assuming rising inv costs). This is correct, right? I feel like I’m verging on the edge of an outright brain collapse… APP
COGS is higher in proportionate consolidate because you include the sub’s revenues and expenses as opposed to just 1 line item under the Eq method. I do not know the fair value adj you mentioned, unless you are referring to going from FIFO COGS to LIFO COGS.