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Chapter 4 — Long-Lived Assets to Be Disposed of Other Than by Sale

4.2 Assets to Be Abandoned

4.2 Assets to Be Abandoned

ASC 360-10
Long-Lived Assets to Be Abandoned
35-47 For purposes of this Subtopic, a long-lived asset to be abandoned is disposed of when it ceases to be used. If an entity commits to a plan to abandon a long-lived asset before the end of its previously estimated useful life, depreciation estimates shall be revised in accordance with paragraphs 250-10-45-17 through 45-20 and 250-10-50-4 to reflect the use of the asset over its shortened useful life (see paragraph 360-10-35-22).
35-48 Because the continued use of a long-lived asset demonstrates the presence of service potential, only in unusual situations would the fair value of a long-lived asset to be abandoned be zero while it is being used. When a long-lived asset ceases to be used, the carrying amount of the asset should equal its salvage value, if any. The salvage value of the asset shall not be reduced to an amount less than zero.
Long-Lived Asset Temporarily Idled
35-49 A long-lived asset that has been temporarily idled shall not be accounted for as if abandoned.