Regulation S-X
Rule 3A-04

Intercompany Items and Transactions

In general, there shall be eliminated intercompany items and transactions between persons included in the

(a) consolidated financial statements being filed and, as appropriate,

(b) unrealized intercompany profits and losses on transactions between persons for which financial statements are being filed and persons the investment in which is presented in such statements by the equity method.

If such eliminations are not made, a statement of the reasons and the methods of treatment shall be made.