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Sale and leaseback transaction |
The sale of an asset and the leasing back of the same asset. The lease payment and the sale price are usually interdependent because they are negotiated as a package. |
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Solvency |
The availability of cash over the longer term to meet financial commitments as they fall due. |
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Subsidiary |
An entity, including an unincorporated entity such as a partnership, that is controlled by another entity (known as the parent). |
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Substance over form |
The principle that transactions and other events are accounted for and presented in accordance with their substance and economic reality and not merely their legal form. |