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20 Discontinued Operations

A Roadmap to Impairments and Disposals of Long-Lived Assets and Discontinued Operations

A Roadmap to Impairments and Disposals of Long-Lived Assets and Discontinued Operations (October 2020)

This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations. This publication represents a replacement of the 2019 publication A Roadmap to Disposals of Long-Lived Assets and Discontinued Operations and has been expanded to address the accounting for long-lived assets while classified as held and used.

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  • US GAAP
This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20 on disposals of long-lived assets. ASC 360-10 specifies the criteria for when long-lived assets to be sold must be classified as held for sale, along with the accounting and reporting requirements associated with that classification. ASC 205-20 further provides guidance on when a component, or group of components, of an entity that is classified as held for sale or disposed of must be reported as a discontinued operations.
The body of this Roadmap combines the guidance in ASC 360-10 and ASC 205-20 on classifying long-lived assets as held for sale — as well as that on the presentation of disposals that both do and do not qualify for discontinued-operations reporting — with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. Further, the table of contents is a helpful navigational tool, providing links to topics and interpretations.