Company A is a 100% owned investee of Fund X. Company A is a corporate entity with a simple capital structure consisting of common stock and long-term interest-bearing debt. Fund X meets the "Assessment of Investment Company Status" criteria contained in ASC 946 Financial Services - Investment Companies. As a result, Fund X management accounts for their investments by measuring and recording the fair value of each investment for each reporting period, rather than by consolidating investee financial statements together