# ASC 210-20-55: Balance Sheet — Offsetting — 55 Implementation Guidance and Illustrations

Source: FASB Accounting Standards Codification, Basic View

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## ASC 210-20-55: 55 Implementation Guidance and Illustrations

[Read section](https://asc.understandingaccounting.org/asc/210/20/#55-implementation-guidance-and-illustrations)

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#### Implementation Guidance

##### [210-20-55-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-1)

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This Section provides additional guidance and illustrations that address the application of the disclosures for derivative instruments and other financial instruments.

##### [210-20-55-2](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-2)

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[Paragraphs 210-20-55-2 through 55-5 superseded by Accounting Standards Update No. 2013-01](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-2).

##### [210-20-55-6](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-6)

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Instruments disclosed in accordance with paragraph [210-20-50-3](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) may be subject to different measurement attributes (for example, a payable related to a repurchase agreement may be measured at amortized cost, while a derivative will be measured at fair value). An entity should include instruments at their recognized amounts and describe any resulting measurement differences in the related disclosures.

##### [210-20-55-7](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-7)

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The disclosures required by paragraph [210-20-50-3(a)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) relate solely to recognized assets and liabilities within the scope of paragraph [210-20-50-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1).

##### [210-20-55-8](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-8)

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Paragraph [210-20-50-3(b)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) requires that entities disclose the amounts offset in accordance with Sections 210-20-45 and 815-10-45 to determine the net amounts presented in the statement of financial position. The amounts of both the recognized assets and the recognized liabilities subject to setoff under the same arrangement will be disclosed in the respective tables; however, the amounts included in the tables are limited to the amount that is subject to setoff. For example, an entity may have a recognized derivative asset and recognized derivative liability that meet the offsetting guidance in Section 815-10-45. If the gross amount of the derivative asset is larger than the gross amount of the derivative liability, the asset disclosure table will include the entire amount of the derivative asset and the entire amount of the derivative liability. The liability disclosures table, however, will include the entire amount of the derivative liability, but it will only include the amount of the derivative asset equal to the amount of the derivative liability.

##### [210-20-55-9](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-9)

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If an entity has instruments that meet the scope of the disclosures but that do not meet the offsetting guidance in either Section 210-20-45 or Section 815-10-45 or that management does not elect to offset, the amounts required to be disclosed by paragraph [210-20-50-3(c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) would equal the amounts required to be disclosed by paragraph [210-20-50-3(a)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3).

##### [210-20-55-10](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-10)

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The amounts required by paragraph [210-20-50-3(c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) must be reconciled to the individual line item amount(s) presented in the statement of financial position. For example, if an entity determines that the aggregation or disaggregation of individual financial statement line items provides more relevant information, it must reconcile the aggregated or disaggregated amounts disclosed in accordance with paragraph 210-20-50-3(c) to the statement of financial position.

##### [210-20-55-10A](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-10A)

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An entity also may elect to include all recognized derivatives accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions in the scope of paragraph [210-20-50-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1) to reconcile to the individual line-item amount(s) presented in the statement of financial position. For instruments not subject to an enforceable master netting arrangement or similar agreement, the amounts disclosed in accordance with paragraph [210-20-50-3(a)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) would equal the amounts disclosed for those instruments in accordance with both paragraph [210-20-50-3(c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) and paragraph [210-20-50-3(e)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3).

##### [210-20-55-11](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-11)

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Paragraph [210-20-50-3(d)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) requires that entities disclose other amounts for instruments that are within the scope of paragraph [210-20-50-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1) but are not included in paragraph [210-20-50-3(b)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3). These amounts include those that meet the guidance in either Section 210-20-45 or Section 815-10-45 to qualify for offsetting but management elects not to offset.

##### [210-20-55-12](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-12)

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An entity should also disclose the fair value amounts related to cash or financial instrument collateral received or pledged (see paragraph [210-20-50-3(d)(2)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3)).

##### [210-20-55-13](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-13)

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When disclosing amounts in accordance with paragraph [210-20-50-3(d)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3), an entity must take into account the effect of overcollateralization by instrument. To do so, an entity must first deduct the amounts disclosed in accordance with paragraph [210-20-50-3(d)(1)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) from the amount disclosed in accordance with paragraph [210-20-50-3(c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3). An entity should then limit the amounts disclosed in accordance with paragraph [210-20-50-3(d)(2)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) to the remaining amount for the related instrument. However, if rights to collateral can be enforced across financial instruments, such rights may be included in the disclosure provided in accordance with [210-20-50-3(d)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3).

##### [210-20-55-14](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-14)

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An entity should describe the types of rights of setoff and similar agreements disclosed in accordance with paragraph [210-20-50-3(d)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3), including the nature of those rights. For example, for a conditional right of setoff, an entity should describe the related condition(s). For any financial collateral received or pledged, an entity should describe the terms of the collateral agreement (for example, when the collateral is restricted).

##### [210-20-55-15](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-15)

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The disclosures required by paragraph [210-20-50-3(a) through (e)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) may be grouped by type of instrument or transaction (for example, derivatives, repurchase and reverse agreements, and securities borrowing and lending agreements).

##### [210-20-55-16](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-16)

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Alternatively, an entity may group the information required by paragraph [210-20-50-3(a) through (c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by type of instrument and paragraph [210-20-50-3(c) through (e)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by counterparty. If an entity provides the required information by counterparty, the entity is not required to identify the counterparties by name. However, designation of the counterparties (Counterparty A, Counterparty B, Counterparty C, and so forth) should remain consistent from year to year to maintain comparability, and qualitative disclosures should be considered to give further information about the types of counterparties. When disclosure of the amounts in paragraph 210-20-50-3(c) through (e) is provided by counterparty, the amounts related to individually significant counterparties with respect to total counterparty amounts should be separately disclosed, and the remaining individually insignificant counterparties should be aggregated into one line item.

##### [210-20-55-17](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-17)

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The disclosures required by paragraphs

[210-20-50-3 through 50-5](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3)

are minimum requirements, and to meet the objective in paragraph [210-20-50-2](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-2) an entity may need to supplement the disclosures with additional (qualitative) disclosures depending on the terms of the enforceable master netting arrangements and related agreements, including the nature of the rights of setoff and their effect or potential effect on the entity's financial position.

##### [210-20-55-18](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-18)

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An entity should present the disclosures in a manner that clearly explains to users of its financial statements the nature of rights of setoff and related arrangements and their effect on the entity's assets and liabilities in the scope of paragraph [210-20-50-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1) and its financial position. An entity should determine how much detail it must provide to satisfy the disclosure requirements. The entity must strike a balance between obscuring important information because of excessive aggregation and obscuring important information because of excessive detail that may not help users of financial statements to understand the entity's financial position. For example, an entity should not disclose information that is so aggregated that it obscures important differences between the different types of rights of setoff or related arrangements.

##### [210-20-55-18A](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-18A)

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[Cash](https://asc.understandingaccounting.org/glossary/c/#cash "Consistent with common usage, cash includes not only currency on hand but demand deposits with banks or other financial institutions. Cash also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. All charges and credits to those accounts are cash receipts or payments to both the entity owning the account and the bank holding it. For example, a bank's granting of a loan by crediting the proceeds to a customer's demand deposit account is a cash payment by the bank and a cash receipt of the customer when the entry is made.") on deposit at a financial institution shall be considered by the depositor as cash rather than as an amount owed to the depositor.

#### Illustrations

##### [210-20-55-19](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-19)

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The following Examples illustrate ways to meet the quantitative disclosure requirements in paragraphs

[210-20-50-1 through 50-5](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1)

by type of financial instrument or other derivative instrument.

##### [210-20-55-20](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-20)

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In this Example, the reporting entity has entered into transactions subject to an enforceable master netting arrangement or other similar agreement with the following counterparties. The reporting entity has the following recognized financial assets and financial liabilities resulting from those transactions that meet the scope of the disclosure requirements in paragraph [210-20-50-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-1). This Example has the following assumptions.

1.  a
    
    Counterparty A:
    
    1.  1
        
        The reporting entity has a derivative asset (fair value of $100 million) and a derivative liability (fair value of $80 million) with Counterparty A. Assume that the entity qualifies for and makes an accounting policy election to offset in accordance with Section 815-10-45. Cash collateral also has been received from Counterparty A for a portion of the net derivative asset ($10 million). The derivative liability and the cash collateral received are set off against the derivative asset in the statement of financial position, resulting in the presentation of a net derivative asset of $10 million.
        
2.  b
    
    Counterparty B:
    
    1.  1
        
        The reporting entity had entered into a sale and repurchase agreement with Counterparty B that is accounted for as a collateralized borrowing. The carrying value of the financial asset (bonds) used as collateral and held by the reporting entity for the transaction is $79 million, and their fair value is $85 million. The carrying value of the collateralized borrowing (repo payable) is $80 million.
        
    2.  2
        
        The reporting entity also has entered into a reverse sale and repurchase agreement with Counterparty B that is accounted for as a collateralized lending. The fair value of the asset (bonds) received as collateral (and not recognized in the statement of financial position) is $105 million. The carrying value of the secured lending (reverse repo receivable) is $90 million.
        
    3.  3
        
        Assume that the transactions are not offset.
        

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-1D6F015A-6EA5-4AF3-9C90-BBBCC902EC76-low.gif)
    
    Application of Paragraph 210-20-50-3(a)-(e) Offsetting of Financial Assets and Derivative Assets $ million "As of December 31, 20XX " (i) (ii) (iii) = (i) - (ii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Description Derivatives $100 $(90) $10 $ - $ - $10 "Reverse repurchase, securities borrowing, and similar arrangements " 90 - 90 (90) - - Total $190 $(90) $100 $(90) $ - $10
    

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-E5CB3ACD-3777-467A-ADC1-7A853C28F271-low.gif)
    
    Offsetting of Financial Liabilities and Derivative Liabilities $ million "As of December 31, 20XX " (i) (ii) (iii) = (i) - (ii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position "Net Amounts of Liabilities Presented in the Statement of Financial Position" Financial Instruments Cash Collateral Pledged Net Amount Description Derivatives $80 $(80) $ - $ - $ - $- "Repurchase, securities lending, and similar arrangements" 80 - 80 (80) - - Total $160 $(80) $80 $(80) $ - $-

##### [210-20-55-21](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-21)

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The following table illustrates how an entity might provide the quantitative disclosure requirements in paragraph [210-20-50-3(a) through (c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by type of instrument and the information required in paragraph [210-20-50-3(c) through (e)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by counterparty.

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-D04B0301-07CC-4482-BC15-4063B91274CD-low.gif)
    
    Application of Paragraph 210-20-50-3(a)-(c) by Instrument and Paragraph 210-20-50-3(c)-(e) by Counterparty Offsetting of Financial Liabilities and Derivative Liabilities $ million "As of December 31, 20XX" (i) (ii) (iii) = (i) - (ii) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Description Derivatives $80 $(80) $ - "Repurchase, securities lending, and similar arrangements" 80 - 80 Total $160 $(80) $80 "Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty " $ million "As of December 31, 20XX" (iii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments "Cash Collateral Pledged" Net Amount Counterparty A $ - $ - $ - $ - Counterparty B 80 (80) - - Other Total $80 $(80) $ - $ -
    

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-C9025F70-4A96-4741-8746-E62AAA4EA762-low.gif)
    
    Application of Paragraph 210-20-50-3(a)-(c) by Instrument and Paragraph 210-20-50-3(c)-(e) by Counterparty Offsetting of Financial Assets and Derivative Assets $ million "As of December 31, 20XX" (i) (ii) (iii) = (i) - (ii) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Description Derivatives $100 $(90) $10 "Reverse repurchase, securities borrowing, and similar arrangements" 90 - 90 Total $190 $(90) $100 "Financial Assets, Derivative Assets, and Collateral Held by Counterparty " $ million "As of December 31, 20XX" (iii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Net Amount of Assets in the Statement of Financial Position Financial Instruments "Cash Collateral Received" Net Amount Counterparty A $10 $ - $ - $10 Counterparty B 90 (90) - - Other Total $100 $(90) $ - $10

##### [210-20-55-22](https://asc.understandingaccounting.org/asc/210/20/#210-20-55-22)

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The following table illustrates how a sophisticated entity that engages in significant derivative activity might provide the quantitative disclosure requirements in paragraph [210-20-50-3(a) through (c)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by type of instrument and paragraph [210-20-50-3(c) through (e)](https://asc.understandingaccounting.org/asc/210/20/#210-20-50-3) by type of counterparty. In this Example, the entity further disaggregates the derivative line item by type of contract as discussed in paragraph [815-10-50-4D](https://asc.understandingaccounting.org/asc/815/10/#815-10-50-4D), with further disaggregation based on how the derivative is transacted.

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-8FCDA683-547D-46C6-AC0A-2A31731796DE-low.gif)
    
    Application of Paragraph 210-20-50-3(a)-(c) by Instrument and Paragraph 210-20-50-3(c)-(e) by Counterparty Offsetting of Financial Assets and Derivative Assets $ million "As of December 31, 20XX" (i) (ii) (iii) = (i) - (ii) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Description Derivatives Interest rate contracts Over the counter " $XX,XXX " " $XX,XXX " " $XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Foreign exchange contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Equity contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Commodity contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Credit contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Other contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " "Total derivatives, subject to a master netting arrangement or similar arrangement" " XX,XXX " " XX,XXX " " XX,XXX " "Total derivatives, not subject to a master netting arrangement or similar arrangement" " XX,XXX " " XX,XXX " " XX,XXX " Total derivatives " XX,XXX " " XX,XXX " " XX,XXX " "Reverse repurchase, securities borrowing, and similar arrangements " " XX,XXX " " XX,XXX " " XX,XXX " Other financial instruments " XX,XXX " " XX,XXX " " XX,XXX " Total " $XX,XXX " " $XX,XXX " " $XX,XXX "
    

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-3E6D87D7-C983-4469-B9A4-9A5A6B62AC6B-low.gif)
    
    "Financial Assets, Derivative Assets, and Collateral Held by Counterparty " $ million "As of December 31, 20XX" (iii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Net Amount of Assets in the Statement of Financial Position "Financial Instruments" Cash Collateral Received Net Amount Counterparty A "$XX,XXX" "$XX,XXX" "$XX,XXX" "$XX,XXX" Counterparty B "XX,XXX" "XX,XXX" "XX,XXX" "XX,XXX" Other "XX,XXX" "XX,XXX" "XX,XXX" "XX,XXX" Total "$XX,XXX" "$XX,XXX" "$XX,XXX" "$XX,XXX"
    

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-1A8B1587-24C2-435A-AC26-4F3EBAA3FB05-low.gif)
    
    Application of Paragraph 210-20-50-3(a)-(c) by Instrument and Paragraph 210-20-50-3(c)-(e) by Counterparty Offsetting of Financial Liabilities and Derivative Liabilities $ million "As of December 31, 20XX" (i) (ii) (iii) = (i) - (ii) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Description Derivatives Interest rate contracts Over the counter " $XX,XXX " " $XX,XXX " " $XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Foreign exchange contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Equity contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Commodity contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Credit contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " Other contracts Over the counter " XX,XXX " " XX,XXX " " XX,XXX " Exchange traded " XX,XXX " " XX,XXX " " XX,XXX " Exchange cleared " XX,XXX " " XX,XXX " " XX,XXX " "Total derivatives, subject to a master netting arrangement or similar arrangement" " XX,XXX " " XX,XXX " " XX,XXX " "Total derivatives, not subject to a master netting arrangement or similar arrangement" " XX,XXX " " XX,XXX " " XX,XXX " Total derivatives " XX,XXX " " XX,XXX " " XX,XXX " "Reverse repurchase, securities borrowing, and similar arrangements " " XX,XXX " " XX,XXX " " XX,XXX " Total " $XX,XXX " " $XX,XXX " " $XX,XXX "
    

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-312F69E7-0B4F-4BBF-9480-C6F2C1050A80-low.gif)
    
    "Financial Liabilities, Derivative Liabilities, and Collateral Held by Counterparty " $ million "As of December 31, 20XX" (iii) (iv) (v) = (iii) - (iv) Gross Amounts Not Offset in the Statement of Financial Position Net Amount of Liabilities in the Statement of Financial Position "Financial Instruments" Cash Collateral Pledged Net Amount Counterparty A " $XX,XXX " " $XX,XXX " " $XX,XXX " " $XX,XXX " Counterparty B " XX,XXX " " XX,XXX " " XX,XXX " " XX,XXX " Other " XX,XXX " " XX,XXX " " XX,XXX " " XX,XXX " Total " $XX,XXX " " $XX,XXX " " $XX,XXX " " $XX,XXX "