(plural foundries) 1  A facility that melts metals in special furnaces and pours the molten metal into molds to make products. Foundries are usually specified according to the type of metal dealt with: iron foundry, brass foundry, etc. 2  The act, process, or art of casting metals; founding.
Funds raised by issuing shares in return for cash or other considerations. The amount of share capital a company has can change over time because each time a business sells new shares to the public in exchange for cash, the amount of share capital will increase.
The negative basis in the capital account of ($309M) can occur when the partnership has run up debt. A partner's basis in his or her interest is the sum of the capital account and the share of partnership debt. If she sells her interest for $95M and is 'forgiven' debt of $309M that leads to the $404M taxable gain.