Parent Company Coverage
The government agencies that produce the data used in Subsidy Tracker almost never indicate whether a recipient firm is part of a larger corporate entity. To make it easier for users of this database to get a full picture of the subsidies received by companies with numerous operations, we identify many of those parent entities using a proprietary system derived from the information in a variety of sources such as the Croctail compilation of subsidiary lists U.S. publicly traded companies are required to include in their 10-K filings with the Securities and Exchange Commission.
Focusing on recipients that are affiliated with large companies, we have so far identified parents for about 106,000 entries which together account for about 75 percent of the total dollar value of the Subsidy Tracker universe. The 2,934 parents we currently cover come from matching efforts involving all the companies on the following lists: the Fortune 1000, the Fortune Global 500, the companies listed on the New York Stock Exchange, the S&P 500, the Russell 3000, the Forbes list of the largest private companies in the United States, the Uniworld list of the 1,000 largest foreign firms operating in the United States, and the Private Equity International list of the 50 largest private equity firms. We will add more parent coverage in the future.
Note: entries are tagged according to their current parent company, which may not have been the parent at the time of the subsidy award. Given that many subsidy awards are paid out over numerous years, and those awards usually carry over when a firm or facility is sold, current owners stand to benefit from past awards and thus should have those awards attributed to them.
The parents used are the ultimate parents, This includes joint ventures in which a parent owns a majority share; those owned 50-50 by two parents are listed in the name of the joint venture. In the case of companies controlled by private equity firms, that firm is used as the parent.