Factor from a base date used to adjust prices after distributions so that equivalent comparisons can be made between prices before and after the distribution.
Extended Information
Factor to Adjust Price equals Factor to Adjust Shares Outstanding for most distribution events. There are three types of distributions where this is the case:
For ordinary cash dividends or partial liquidating payments, Factor to Adjust Price is set to zero.
For cases of mergers, total liquidations, or exchanges where all shares were exchanged, a final liquidation payment was announced, or the security disappeared, Factor to Adjust Price is set to negative one by convention.
For stock dividends and splits, Factor to Adjust Price is the number of additional shares per old share issued:
facpr = (s(t) - s(t'))/s(t') = (s(t)/s(t')) - 1
where s(t) is the number of shares outstanding, t is a date after or on the Ex-Distribution Date for the split, and t' is a date before the split. In a reverse split, Factor To Adjust Price will be between -1 and 0.
In other less common distribution events, spin-offs, non-total or non-final liquidating distributions, and rights, Factor to Adjust Price is not equal to Factor to Adjust Shares Outstanding. Factor to Adjust Price is defined as the Dividend Cash Amount divided by the stock price on the Ex-Distribution Date, (P(t)):
Other cases where Factor to Adjust Price may not be equal to factor to adjust shares are issuances and limited tender offers. For issuances, Factor to Adjust Price is set to zero. For limited tender offers where a limited set percentage of shares are accepted in exchange for cash, Factor to Adjust Price is set to the ratio of shares accepted multiplied by -1.
For spin-offs, Factor to Adjust Shares Outstanding is set to zero. For rights issues, Factor to Adjust Shares Outstanding is calculated based on all shareholders exercising the rights on the Ex-Distribution Date. If it is set to 0, this distribution leaves the actual shares outstanding adjustment to this right to shares observations in the quarterly reports. For issuances and offers, if it is nonzero, then it is calculated in the same manner as for stock splits.
First Date Included in List is the date, in YYYYMMDD format, of the first date an issue is included in a portfolio defined as a selected list of securities.
Subscription Information
Factor to Adjust Price in Period
Factor from a base date used to adjust prices after distributions so that equivalent comparisons can be made between prices before and after the distribution.
Extended Information
Factor to Adjust Price equals Factor to Adjust Shares Outstanding for most distribution events. There are three types of distributions where this is the case:
facpr = (s(t) - s(t'))/s(t') = (s(t)/s(t')) - 1
where s(t) is the number of shares outstanding, t is a date after or on the Ex-Distribution Date for the split, and t' is a date before the split. In a reverse split, Factor To Adjust Price will be between -1 and 0.
In other less common distribution events, spin-offs, non-total or non-final liquidating distributions, and rights, Factor to Adjust Price is not equal to Factor to Adjust Shares Outstanding. Factor to Adjust Price is defined as the Dividend Cash Amount divided by the stock price on the Ex-Distribution Date, (P(t)):
Other cases where Factor to Adjust Price may not be equal to factor to adjust shares are issuances and limited tender offers. For issuances, Factor to Adjust Price is set to zero. For limited tender offers where a limited set percentage of shares are accepted in exchange for cash, Factor to Adjust Price is set to the ratio of shares accepted multiplied by -1.
Factor to Adjust Shares Outstanding
Factor to Adjust Shares Outstanding is an adjustment to Shares Outstanding observations due to a distribution event. It is the number of additional shares outstanding expected after the Ex-Distribution Date of the distribution event relative to the last known observation. Factor to Adjust Shares Outstanding equals Factor to Adjust Price for most distribution events. There are five types of distributions where this is the case. See Factor to Adjust Price for these cases and how they are handled.
For spin-offs, Factor to Adjust Shares Outstanding is set to zero. For rights issues, Factor to Adjust Shares Outstanding is calculated based on all shareholders exercising the rights on the Ex-Distribution Date. If it is set to 0, this distribution leaves the actual shares outstanding adjustment to this right to shares observations in the quarterly reports. For issuances and offers, if it is nonzero, then it is calculated in the same manner as for stock splits.
n/an/a/diFirst Date Included in List
First Date Included in List is the date, in YYYYMMDD format, of the first date an issue is included in a portfolio defined as a selected list of securities.
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