Subsidiaries such as The Foundry (Propaganda Films) - it's own company?

Hi.

"The Foundry" was a division of "Propaganda Films" (music videos and commercials with directors such as David Fincher, etc - https://en.wikipedia.org/wiki/Propaganda_Films ). Do we still list it individually (companies)? Meaning, that do we list subsidiaries always as a separate company ( https://en.wikipedia.org/wiki/Subsidiary )?

Thanks.