The following flowchart provides an overview of the disclosures required for discontinued operations.
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\"Does the entity have a discontinued operation under the criteria in paragraphs 205-20-45-1A through 45-1D?\" Not a discontinued operation. See the flowchart in paragraph 360-10-55-18A for the required disclosures for the impairment or disposal of a long-lived asset. No \"Disclose the following in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragraph 205-20-45-1E (see paragraph 205-20-50-1):\" Yes a. A description of both the facts and circumstances leading to the disposal or expected disposal and the expected manner and timing of that disposal. \"b. If not separately presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) as part of discontinued operations (see paragraph 205-20-45-3B), the gain or loss recognized in accordance with paragraph 205-20-45-3C.\" \"d. If applicable, the segment(s) in which the discontinued operation is reported under Topic 280 on segment reporting.\" Required Disclosures for a Discontinued Operation \"Did the entity change its plan of sale as addressed in paragraph 360-10-35-44 or 360-10-35-45?\" \"In the period in which the decision is made to change the plan for selling the discontinued operation, disclose in the notes to financial statements a description of the facts and circumstances leading to the decision to change that plan and the change's effect on the results of operations for the period and any prior periods presented (see paragraph 205-20-50-3).\" Yes No Did the entity have any adjustments to amounts previously reported in discontinued operations? Disclose the nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period. See paragraph 205-20-45-5 for examples of circumstances in which those types of adjustments may arise (see paragraph 205-20-50-3A). Yes \"Did the entity have continuing involvement?\" No A Yes B No![](\"/asc-img/GUID-9784CEEE-62C6-4327-86E9-5960741D994F-low.gif\")
Disclosures are complete for a discontinued operation that is a business or nonprofit activity held for sale at acquisition or a joint venture upon formation. \"Disclose the summarized information about the assets, liabilities, and results of operations of the investee if that information was disclosed in financial reporting periods before the disposal in accordance with paragraph 323-10-50-3(c) (see paragraph 205-20-50-7).\" a. The pretax profit or loss (or change in net assets) of the discontinued operation. b. The major classes of line items constituting the pretax profit or loss (or change in net assets) of the discontinued operation. \"Was the discontinued operation an equity method investment before the disposal?\" \"To the extent not presented on the face of the financial statements as part of discontinued operations, disclose all of the following in the notes to financial statements for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities) or for the period in which the discontinued operation is classified as held for sale and all prior periods presented in the statement of financial position (as applicable) (see paragraph 205-20-50-5B):\" \"d. If the discontinued operation includes a noncontrolling interest, the pretax profit or loss (or change in net assets) attributable to the parent.\" e. The carrying amount(s) of the major classes of assets and liabilities included as part of a discontinued operation classified as held for sale. \"Which criterion does the discontinued operation meet?\" 205-20-45-1D 205-20-45-1B through 45-1C C \"c. Either the total operating and investing cash flows of the discontinued operation or the depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operation.\" Disclose information about an entity's significant continuing involvement with a discontinued operation after the disposal date. The disclosures are required until the results of operations of the discontinued operation in which an entity retains significant continuing involvement are no longer presented separately as discontinued operations in the statement where net income is reported (or statement of activities). Disclose the following for each discontinued operation in which the entity retains significant continuing involvement after the disposal date (see paragraphs 205-20-50-4A through 50-4B): a. A description of the nature of the activities that give rise to the continuing involvement. b. The period of time during which the involvement is expected to continue. \"c. For all periods presented, both the amount of any cash inflows or outflows from or to the discontinued operation after the disposal transaction and revenues or expenses presented, if any, in continuing operations after the disposal transaction that before the disposal transaction were eliminated in consolidated financial statements as intra-entity transactions.\" \"d. For a discontinued operation in which an entity retains an equity method investment after the disposal (the investee), information that enables users of financial statements to compare the financial performance of the entity from period to period assuming that the entity held the same equity method investment in all periods presented in the statement where net income is reported (or statement of activities). The disclosure should include all of the following until the discontinued operation is no longer reported separately in discontinued operations:\" \"1. For each period presented in the statement where net income is reported (or statement of activities) after the period in which the discontinued operation was disposed of, the pretax income of the discontinued operation in which the entity retains an equity method investment.\" 2. The entity's ownership interest in the discontinued operation before the disposal transaction. 3. The entity's ownership interest in the investee after the disposal transaction. 4. The entity's share of the income or loss of the investee in the period(s) after the disposal transaction and the line item in the statement where net income is reported (or statement of activities) that includes the income or loss. A B No Yes![](\"/asc-img/GUID-46E13975-DCC8-4682-B4EE-0CD57680FF52-low.gif\")
\"Did the entity provide the disclosures required by paragraph 205-20-50-5B(a), (b), and (e)?\" \"Disclose the following (may aggregate the amounts that are not considered major and present them as one line item in the reconciliation) (see paragraphs 205-20-50-5C through 50-5D):\" Disclosures are complete. Yes No 1. The amounts required to be disclosed in paragraph 205-20-50-5B(e). \"2. Total assets and total liabilities of the disposal group classified as held for sale that are presented separately on the face of the statement of financial position. If the disposal group includes assets and liabilities that are not part of the discontinued operation, present those assets and liabilities in line items in the reconciliations that are separate from the assets and liabilities of the discontinued operation.\" \"a. For the initial period in which the disposal group is classified as held for sale and for all prior periods presented in the statement of financial position, a reconciliation of both:\" \"b. For the periods in which the results of operations of the discontinued operation are reported in the statement where net income is reported (or statement of activities), a reconciliation of both:\" 1. The amounts required to be disclosed in paragraph 205-20-50-5B(a) and (b). 2. The after-tax profit or loss from discontinued operations presented on the face of the statement where net income is reported (or statement of activities). C
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