Consolidation

. Accounting: (1) Combining assets, equity, liabilities and operating accounts of a parent firm and its subsidiaries into one financial statement. See also consolidated financial statement. (2) Combining two or more firms through purchase, merger, or ownership transfer to form a new firm.

2. Banking: Paying off two or more old loans with a new loan. See also consolidation loan.

3. Law: Combining two actions (involving the same parties and the same issues) into one action on court orders. Consolidation may or may not result in a single judgment.

4. Shipping: Combining several smaller shipments into a full container load or a large shipment to avail of better freight rates.

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