A number in parentheses is negative according to accounting standards. (34%) = -34%

TIL a number in parentheses is negative :)

Pretty standard practice in accounting + book keeping. You'll see pretty much all balance sheets represented in this way.

Do you know what's the reasoning behind this convention? I had no idea too that percentages in parenthesis mean negative. It's a whole new world.

Parentheses are easier to see than negative signs when scanning through large tables of numbers. Also, in the days when financial documents were transcribed or faxed, it was harder to lose a set of parentheses than a negative sign when sharing documents.

You have taken the first step towards mastering your 10K analysis abilities. Report back once you've mastered the concept of how assets, liabilities, and equity balance out [1]. Then we can move on to the principles of revenue and expense recognition so we can begin to read income statements :)

[1] http://www.principlesofaccounting.com/chapter-1/accounting-e...