FASB Endorses VIE Alternative

Norwalk, CT, February 19, 2014—The FASB today endorsed an accounting alternative within U.S. GAAP proposed by the PCC that would provide private companies an alternative not to apply Variable Interest Entity guidance for common control leasing arrangements when certain conditions are met. The FASB expects to issue the final standard in late March. The alternative would be available for early adoption for any financial statements that have not yet been made available for issuance.