how do I record LGF(Lions Gates Entertainment) split into LGF-A and LGF-B shares

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tramakrishnan
tramakrishnan Member ✭✭
edited November 2018 in Investing (Windows)

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  • Unknown
    Unknown Alumni
    edited September 2017
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    Hi Tramakrishnan,

    I'm sorry for any confusion this has caused. To help us provide the most appropriate answer, please let us know what Quicken product (QWin or QMac), what version (2015, 2016, etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada. 

    Thanks,
    Dave
  • tramakrishnan
    tramakrishnan Member ✭✭
    edited December 2016
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    It is Quicken deluxe 2015 release 12 and US version. Thanks.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
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    a)  I would be waiting a few days till the dust settles and further info becomes available.

    b)  In principle, I would be looking at 
    1)  Create two new Securities LGF CLass A and LGF Class B.  It is likely Quicken's data supplier will adopt the LGF-A and LGF-B format for the tickers, but that is not an absolute.  
    2)  Remove Shares of the original LFG holding (noting the cost basis and acquisition date for each lot you held).
    3)  Add Shares for each lot of LGF that you had held - 1/2 as many LGF-A shares and 1/2 as many LGF-B shares.  Same acquisition dates as the original lot.  The cost basis of the original lot will be split between the two new holdings.  The Class A shares are trading slightly higher than the B shares, so they will likely end up with slightly more of the basis.  The basis gets allocated to the two parts in proportion to their fair market values (FMV).  The final numbers for FMV are your choice, but this is where letting the dust settle is advantageous.

    I would likely not accept the set of transactions downloaded from my brokerage for this type of event.  
  • Unknown
    Unknown Member
    edited January 2017
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    q.lurker said:

    a)  I would be waiting a few days till the dust settles and further info becomes available.

    b)  In principle, I would be looking at 
    1)  Create two new Securities LGF CLass A and LGF Class B.  It is likely Quicken's data supplier will adopt the LGF-A and LGF-B format for the tickers, but that is not an absolute.  
    2)  Remove Shares of the original LFG holding (noting the cost basis and acquisition date for each lot you held).
    3)  Add Shares for each lot of LGF that you had held - 1/2 as many LGF-A shares and 1/2 as many LGF-B shares.  Same acquisition dates as the original lot.  The cost basis of the original lot will be split between the two new holdings.  The Class A shares are trading slightly higher than the B shares, so they will likely end up with slightly more of the basis.  The basis gets allocated to the two parts in proportion to their fair market values (FMV).  The final numbers for FMV are your choice, but this is where letting the dust settle is advantageous.

    I would likely not accept the set of transactions downloaded from my brokerage for this type of event.  

    Just adding to the thread that in my version of Quicken (Quicken 2017 for Windows, Version R4 build 26.1.4.5) the software won't recognize the different stock classes. On lookup, it appears to allow you to designate the class A or class B, but in the ledger they are not distinct.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
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    It looks like the tickers are LGF.A and LGF.B. but in the Quicken quote data the names are identical. You probably want to rename one of them so you can tell them apart. In Morningstar the A shares are Lions Gate Entertainment Corp A and the B shares are Lions Gate Entertainment Corp
    QWin Premier subscription
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