basis v1.2 — acquired-intangible amortisation now added back
A user ruling was added to the basis: acquired-intangible amortisation is added back. No standard-setter has ruled on this treatment, so it is marked authority: user rather than dressed as a standard. The change moves every company that reports the concept — on the reference cohort, Danaher +1.70B and Thermo Fisher +1.73B of operating income.
Change. acquired_intangible_amortisation → add_back, authority: user.
Why it is not cited. Neither FASB, the IASB nor the SEC has ruled on whether acquired-
intangible amortisation should be excluded from operating results. Adding it back is
analyst convention. The rule therefore carries authority: user and no citation — the
counter-argument, that for a serial acquirer it is the recurring price of buying growth,
is recorded in the rule itself.
Impact. Every filer reporting us-gaap:AmortizationOfIntangibleAssets moves. On the
reference cohort: Danaher +1.70B operating income (19.1% → 26.0% margin), Thermo Fisher
+1.73B (17.4% → 21.7%).
How to disagree. Fork the basis, set the treatment to leave_as_filed, and the numbers
restate. The forensic-strict published basis already takes that position.