Preface

We are pleased to present the 2026 edition of Leases (the “Roadmap”). Since the issuance of ASU 2016-021 (codified as ASC 842) on February 25, 2016, the FASB has continued to discuss and make updates to ASC 842 on the basis of implementation questions raised, challenges identified by stakeholders, and the Board’s postimplementation review process.2

The body of the Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through June 30, 2026).

We hope that this publication will enable entities to deal with some of the more challenging aspects of ASC 842.

Further, the updated edition of this Roadmap includes some new interpretations and certain modifications to previously expressed views to reflect our latest thinking as well as input from standard setters and regulators. Appendix H highlights all new content as well as any substantive revisions to previous content.

We encourage you to use this Roadmap as a guide throughout your application of ASC 842 and to contact us with any questions or suggestions for future improvements. However, the Roadmap is not a substitute for consulting with Deloitte professionals on complex accounting questions and transactions.

We hope that you find this Roadmap helpful in navigating the ongoing accounting requirements for leases.