I have trouble understanding the following excerpt from 10 Visual formatting model details – W3C.
The excerpt:
baseline: Align
The spec tells you what the parent box refers to just a couple of paragraphs above:
The following values only have meaning with respect to a parent inline element, or to the strut of a parent block container element.
So the parent box refers to the box generated by the parent element, and you calculate the baseline of the parent box just like you would any other element.