Correct me if I am wrong (and I know you will), but IBM is not the parent of Lenovo... they own 7.9% of the voting stock (assuming preferred stock were converted to voting common stock). IBM, in fact, is not even the largest shareholder.
So, it is not accurate to call IBM the parent. Parent companies can consolidate their financial statements with subsidiaries, and they need greater than 50% ownership for that.
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Correct me if I am wrong (and I know you will), but IBM is not the parent of Lenovo... they own 7.9% of the voting stock (assuming preferred stock were converted to voting common stock). IBM, in fact, is not even the largest shareholder.
So, it is not accurate to call IBM the parent. Parent companies can consolidate their financial statements with subsidiaries, and they need greater than 50% ownership for that.
http://www.pc.ibm.com/ww/lenovo/shares_info.html