SUMMARY OF BOARD DECISIONS

Summary of Board decisions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue an Accounting Standards Update.

June 23, 2010 FASB Board Meeting

Leases. The Board discussed consequential amendments to Accounting Standards Codification Topic 805, Business Combinations. The Board tentatively decided that all assets and liabilities arising from lease contracts acquired in a business combination should be measured in accordance with the proposed lease requirements. An acquirer should measure those assets and liabilities as if the lease arrangement was a new lease arrangement.