A.10 ASC 410, Asset Retirement and Environmental Obligations
ASC 410-20
50-1 An
entity shall disclose all of the following information about its
asset retirement obligations:
- A general description of the asset retirement obligations and the associated long-lived assets
- The fair value of assets that are legally restricted for purposes of settling asset retirement obligations
- A reconciliation of the beginning and ending aggregate
carrying amount of asset retirement obligations showing
separately the changes attributable to the following
components, whenever there is a significant change in
any of these components during the reporting period:
- Liabilities incurred in the current period
- Liabilities settled in the current period
- Accretion expense
- Revisions in estimated cash flows.
Pending Content (Transition Guidance: ASC
220-40-65-1)
50-1 An entity shall disclose all of the
following information about its asset retirement
obligations:
-
A general description of the asset retirement obligations and the associated long-lived assets
-
The fair value of assets that are legally restricted for purposes of settling asset retirement obligations
-
A reconciliation of the beginning and ending aggregate carrying amount of asset retirement obligations showing separately the changes attributable to the following components, whenever there is a significant change in any of these components during the reporting period:
-
Liabilities incurred in the current period
-
Liabilities settled in the current period
-
Accretion expense
-
Revisions in estimated cash flows.
-
See paragraphs 220-40-50-21 through 50-25 for
additional disclosure requirements.
50-2 If the fair
value of an asset retirement obligation cannot be reasonably
estimated, that fact and the reasons therefor shall be
disclosed.