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Chapter 10 — Debt Modifications and Exchanges

10.3 Determining Whether Debt Terms Are Substantially Different

10.3 Determining Whether Debt Terms Are Substantially Different

Footnotes

1
In the absence of unamortized debt issuance costs (see Section 10.3.3.3.3) or fair value hedge accounting adjustments (see Section 10.3.3.3.4), this amount equals the carrying amount of the original debt.
2
Note that although this guidance was not codified until the issuance of ASU 2021-04, we believe that entities already needed to apply it under ASC 470-50 (see Section 10.3.3.2.8).