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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Contract Added Accounting Standards Update No. 2014-09 05/28/2014
Customer Added Accounting Standards Update No. 2014-09 05/28/2014
Financial Instrument Amended Accounting Standards Update No. 2024-02 03/29/2024
Revenue Added Accounting Standards Update No. 2014-09 05/28/2014
235-10-50-4 Amended Accounting Standards Update No. 2014-09 05/28/2014
235-10-50-6 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
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The Notes to Financial Statements Topic addresses the content and usefulness of disclosure by an entity of the accounting policies judged by management to be most appropriate to fairly present the entity's financial statements.
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Disclosure of accounting policies related to specific financial statement line items are addressed in the related Topics.
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The accounting policies of an entity are the specific accounting principles and the methods of applying those principles that are judged by the management of the entity to be the most appropriate in the circumstances to present fairly financial position, cash flows, and results of operations in accordance with generally accepted accounting principles (GAAP) and that, accordingly, have been adopted for preparing the financial statements.
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The accounting policies adopted by an entity can affect significantly the presentation of its financial position, cash flows, and results of operations. Accordingly, the usefulness of financial statements for purposes of making economic decisions about the entity depends significantly upon the user's understanding of the accounting policies followed by the entity.
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The Scope Section of the Overall Subtopic establishes the pervasive scope for the Notes to Financial Statements Topic.
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The guidance in the Notes to Financial Statements Topic applies to all entities.
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Information about the accounting policies adopted by an entity is essential for financial statement users. When financial statements that are issued or are available to be issued (as discussed in Section 855-10-25) purport to present fairly financial position, cash flows, and results of operations in accordance with generally accepted accounting principles (GAAP), a description of all significant accounting policies of the entity shall be included as an integral part of the financial statements. In circumstances where it may be appropriate to issue one or more of the basic financial statements without the others, purporting to present fairly the information given in accordance with GAAP, statements so presented also shall include disclosure of the pertinent accounting policies.
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The provisions of paragraph 235-10-50-1 are not intended to apply to unaudited financial statements issued as of a date between annual reporting dates (for example, each quarter) if the reporting entity has not changed its accounting policies since the end of its preceding fiscal year.
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Disclosure of accounting policies shall identify and describe the accounting principles followed by the entity and the methods of applying those principles that materially affect the determination of financial position, cash flows, or results of operations. In general, the disclosure shall encompass important judgments as to appropriateness of principles relating to recognition of revenue and allocation of asset costs to current and future periods; in particular, it shall encompass those accounting principles and methods that involve any of the following:
  1. a
    A selection from existing acceptable alternatives
  2. b
    Principles and methods peculiar to the industry in which the entity operates, even if such principles and methods are predominantly followed in that industry
  3. c
    Unusual or innovative applications of GAAP.
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Examples of disclosures by an entity commonly required with respect to accounting policies would include, among others, those relating to the following:
  1. a
    Basis of consolidation
  2. b
    Depreciation methods
  3. c
    Amortization of intangibles
  4. d
    Inventory pricing
  5. e
    Recognition of revenue from contracts with customers
  6. f
    Recognition of revenue from leasing operations.
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Financial statement disclosure of accounting policies shall not duplicate details (for example, composition of inventories or of plant assets) presented elsewhere as part of the financial statements. In some cases, the disclosure of accounting policies shall refer to related details presented elsewhere as part of the financial statements; for example, changes in accounting policies during the period shall be described with cross-reference to the disclosure required by Topic 250.
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This Subtopic recognizes the need for flexibility in matters of format (including the location) of disclosure of accounting policies provided that the entity identifies and describes its significant accounting policies as an integral part of its financial statements in accordance with the provisions of this Subtopic. Disclosure is preferred in a separate summary of significant accounting policies preceding the notes to financial statements (notes), or as the initial note, under the same or a similar title.
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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
235-10-S99-1 through S99-4
 Amended Accounting Standards Update No. 2019-07 07/26/2019
235-10-S99-1 Amended Accounting Standards Update No. 2012-03 08/27/2012
235-10-S99-1 Amended Accounting Standards Update No. 2010-21 08/02/2010
235-10-S99-1 Amended Accounting Standards Update No. 2009-07 09/15/2009
235-10-S99-5 Amended Accounting Standards Update No. 2012-03 08/27/2012
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See paragraph 235-10-S99-1, Regulation S-X Rule 4-08, for requirements on disclosures to be included in the notes to financial statements.
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See paragraph 235-10-S99-5, SAB Topic 1.D.1, for SEC Staff views on disclosures to be provided by foreign private issuers.
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See paragraph 235-10-S99-2, Regulation S-X Rule 12-01, for the references to the required supplemental schedules to be considered.
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See paragraph 235-10-S99-3, Regulation S-X Rule 12-04, for the disclosure requirements pertaining to condensed financial information of the registrant in situations where such disclosures are required.
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See paragraph 235-10-S99-4, Regulation S-X Rule 12-09, for the requirements for the schedule of valuation and qualifying accounts.
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The following is the text of Regulation S-X Rule 4-08, General Notes to Financial Statements (17 CFR 210.4-08).
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The following is the text of Regulation S-X Rule 12-01, Application of §§210.12-01 to 210.12-29 (17 CFR 210.12-01).
","snippet":"The following is the text of Regulation S-X Rule 12-01, Application of §§210.12-01 to 210.12-29 (17 CFR 210.12-01).\nThese sections prescribe the form and content of the schedules required by §§ 210.5-04, 210.6-10, 210.6A…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce2b60ca8278e27661ab8c6b4bdc7264697160b1d4e1d78d4ca0915fc6fc1b62","downloaded_from":"2026-09-09T23:14:35.922Z","last_downloaded_at":"2026-09-09T23:14:35.922Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480678","source_sha256":"628d24b2db80089b4dd2d208af3b82049ee41b904e1dae7519570ade02a5e35b"}},{"citation":"235-10-S99-3","para":"S99-3","html":"
The following is the text of Regulation S-X Rule 12-04, Condensed Financial Information of Registrant (17 CFR 210.12-04).[46 FR 56180, Nov. 16, 1981, as amended at 57 FR 45293, Oct. 1, 1992]
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The following is the text of Regulation S-X Rule 12-09, Valuation and Qualifying Accounts (17 CFR 210.12-09).[37 FR 14602, July 21, 1972. Redesignated and amended at 45 FR 63679, Sept. 25, 1980]
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The following is the text of SAB Topic 1.D.1, Disclosures Required of Companies Complying with Item 17 of Form 20-F.
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The disclosure must cover principles and methods that materially affect the financial statements, especially selections among acceptable alternatives, industry-peculiar methods, and unusual or innovative applications of GAAP (235-10-50-3).","key_points":["The guidance applies to all entities (235-10-15-2), and applies to any basic financial statement issued alone that purports to present fairly in accordance with GAAP (235-10-50-1).","A description of all significant accounting policies must be included as an integral part of financial statements that are issued or available to be issued (235-10-50-1).","The requirement does not apply to unaudited interim financial statements issued between annual reporting dates if the entity has not changed its accounting policies since the end of the preceding fiscal year (235-10-50-2).","Disclosure must identify and describe principles and methods that materially affect financial position, cash flows, or results of operations, including important judgments about revenue recognition and allocation of asset costs, and specifically: selections from existing acceptable alternatives, industry-peculiar principles, and unusual or innovative applications of GAAP (235-10-50-3).","Commonly required policy disclosures include basis of consolidation, depreciation methods, amortization of intangibles, inventory pricing, revenue recognition from contracts with customers, and revenue recognition from leasing operations (235-10-50-4).","Policy disclosure shall not duplicate details presented elsewhere in the financial statements and may cross-reference them; changes in accounting policies during the period are described with cross-reference to Topic 250 disclosures (235-10-50-5).","Format and location are flexible, but disclosure is preferred in a separate summary of significant accounting policies preceding the notes or as the initial note (235-10-50-6); policy disclosures for specific line items are addressed in the related Topics (235-10-05-2)."],"categories":["Disclosure","Presentation","Financial statement presentation"],"audience_level":"introductory","student_note":"This is the source of the ubiquitous \"Note 1 — Summary of Significant Accounting Policies,\" so it shows up on exams as the general disclosure baseline. 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Every paragraph in the subtopic (05-1, 15-1, 50-1 and 50-2) was superseded by Maintenance Update No. 2019-01, so the subtopic now contains no operative guidance. Contractors instead look to the general accounting policy disclosure requirements of ASC 235-10 and to the revenue disclosures in ASC 606.","concepts":["superseded guidance","notes to financial statements","summary of significant accounting policies","construction-type contracts","industry-specific disclosure","accounting policy disclosure"],"categories":["Disclosure","Presentation","Industry-specific","Transition and effective dates"],"level":"introductory","topic_title":"Notes to Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-910-00-1","para":"00-1","html":"
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910-235-50-2 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
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Every paragraph in the subtopic (05-1, 15-1, 50-1 and 50-2) was superseded by Maintenance Update No. 2019-01, so the subtopic now contains no operative guidance. 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All of its content (paragraphs 235-912-05-1, 15-1 and 50-1) was superseded by ASU 2014-09, the revenue recognition standard, so the subtopic now carries no operative guidance.","concepts":["superseded guidance","summary of significant accounting policies","federal government contractors","revenue recognition transition","industry-specific guidance","notes to financial statements"],"categories":["Disclosure","Presentation","Revenue","Transition and effective dates"],"level":"intermediate","topic_title":"Notes to Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-912-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
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All such entities must disclose their cost accounting method (successful efforts vs. full cost), how capitalized costs are disposed of, and information about exploratory well costs still capitalized pending determination of proved reserves. Publicly traded companies with significant oil and gas activities must additionally provide, as supplementary information with annual statements, proved reserve quantities and changes, capitalized costs, costs incurred, results of operations, the standardized measure of discounted future net cash flows, and changes in that measure.","concepts":["proved oil and gas reserves","standardized measure of discounted future net cash flows","exploratory well costs pending determination of proved reserves","costs incurred for acquisition, exploration, and development","results of operations for oil- and gas-producing activities","successful efforts and full cost methods","geographic area disclosure","equity method investee disaggregation"],"categories":["Disclosure","Industry-specific","Presentation"],"level":"advanced","topic_title":"Notes to Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-932-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Contract Added Accounting Standards Update No. 2014-09 05/28/2014
Customer Added Accounting Standards Update No. 2014-09 05/28/2014
Exploratory Well Amended Accounting Standards Update No. 2010-03 01/06/2010
Oil- and Gas-Producing Activities Added Accounting Standards Update No. 2010-03 01/06/2010
Production Amended Accounting Standards Update No. 2010-03 01/06/2010
Properties Amended Accounting Standards Update No. 2010-03 01/06/2010
Proved Developed Oil and Gas Reserves Amended Accounting Standards Update No. 2010-03 01/06/2010
Proved Oil and Gas Reserves Amended Accounting Standards Update No. 2010-03 01/06/2010
Proved Undeveloped Oil and Gas Reserves Amended Accounting Standards Update No. 2010-03 01/06/2010
Significant Activities Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-1 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-1A through 50-1C
 Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-2 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-2A Added Accounting Standards Update No. 2023-06 10/09/2023
932-235-50-4 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-6 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-6A Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-6B Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-7 through 50-9
 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-11 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-11A Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-11B Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-15 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-16 Superseded Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-19 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-20 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-23 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-24 Amended Accounting Standards Update No. 2014-09 05/28/2014
932-235-50-27 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-28 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-30 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-31 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-33 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-35 Amended Accounting Standards Update No. 2010-03 01/06/2010
932-235-50-35A Added Accounting Standards Update No. 2010-03 01/06/2010
932-235-55-2 through 55-7
 Amended Accounting Standards Update No. 2010-03 01/06/2010
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nContract | Added | Accounting Standards Update No. 2014-09 | 05/28/2014 |\nCustomer | Add…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd305b177d30e9df24c158b05f8a172ed7cc6a2139d403531f88c79132449f46","downloaded_from":"2026-09-09T23:15:19.640Z","last_downloaded_at":"2026-09-09T23:15:19.640Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477600","source_sha256":"071c7f76c33b873be84c2ab0c0249a0431634dff1c5d35d8902f4769b705ed0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb17309f42a7d651bed5cc847ff84a9bebcd0bb0acfcf779fa82a2a739c276ca","downloaded_from":"2026-09-09T23:15:19.640Z","last_downloaded_at":"2026-09-09T23:15:19.640Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477600","source_sha256":"071c7f76c33b873be84c2ab0c0249a0431634dff1c5d35d8902f4769b705ed0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3195cb9adb5788f63fe0acd2eba9ca01f21dbb957920e8273445563543dacf2b","downloaded_from":"2026-09-09T23:15:19.640Z","last_downloaded_at":"2026-09-09T23:15:19.640Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477600","source_sha256":"071c7f76c33b873be84c2ab0c0249a0431634dff1c5d35d8902f4769b705ed0f"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-932-05-1","para":"05-1","html":"
This Subtopic addresses supplemental disclosure requirements for oil and gas operations. Required disclosures include:
  1. a
    Proved oil and gas reserve quantities (see paragraphs
    932-235-50-3 through 50-11B
    )
  2. b
    Capitalized costs relating to oil- and gas-producing activities (see paragraphs
    932-235-50-12 through 50-15
    )
  3. c
    Continued capitalization of exploratory well costs (see paragraphs
    932-235-50-1A through 50-1B
    )
  4. d
    Costs incurred for property acquisition, exploration, and development (see paragraphs
    932-235-50-17 through 50-20
    )
  5. e
    Results of operations of oil- and gas-producing activities (see paragraphs
    932-235-50-21 through 50-28
    )
  6. f
    A standardized measure of discounted future net cash flows related to proved oil and gas reserve quantities (see paragraphs
    932-235-50-29 through 50-33
    )
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This Subtopic prescribes disclosures related to an entity's oil- and gas-producing activities that are considered necessary for fair presentation of the entity's financial position, results of operations, and changes in financial position in conformity with generally accepted accounting principles (GAAP). Those disclosures are only part of the information that may be needed for investment, regulatory, or national economic planning and energy policy decisions.
","snippet":"This Subtopic prescribes disclosures related to an entity's oil- and gas-producing activities that are considered necessary for fair presentation of the entity's financial position, results of operations, and changes in …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c01d68c298a8b81ac7a8d89a6897d7acce53e3b6fcd036533c4fc85a35e70b99","downloaded_from":"2026-09-09T23:15:26.959Z","last_downloaded_at":"2026-09-09T23:15:26.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477680","source_sha256":"024e1e56567ea4f2f07d522a660132198e40d5f4e7e4a9bdce13a3b43c422753"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:944b0228c264f3192b4361bb3e91788bf9eec404ca2a178f5c64c76c1ef166aa","downloaded_from":"2026-09-09T23:15:26.959Z","last_downloaded_at":"2026-09-09T23:15:26.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477680","source_sha256":"024e1e56567ea4f2f07d522a660132198e40d5f4e7e4a9bdce13a3b43c422753"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:72bd688760e0fce4c7dd5b9c2e3dbbdd5ac95d0a4c1b7ff1511cb6d3278bdb84","downloaded_from":"2026-09-09T23:15:26.959Z","last_downloaded_at":"2026-09-09T23:15:26.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477680","source_sha256":"024e1e56567ea4f2f07d522a660132198e40d5f4e7e4a9bdce13a3b43c422753"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"235-932-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 932-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 932-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ca3f743f6adac30638283977f713b1a9f7502cd3b4ecdd2d460a6e23937f7b7a","downloaded_from":"2026-09-09T23:15:29.409Z","last_downloaded_at":"2026-09-09T23:15:29.409Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478109","source_sha256":"3deeb75e597172496caa545a693dbee42e178003b3589c86af6521f1c543c146"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6830a74581b40e2697da73d508779d0a09f81b112184cfc425d4bb5f09354c66","downloaded_from":"2026-09-09T23:15:29.409Z","last_downloaded_at":"2026-09-09T23:15:29.409Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478109","source_sha256":"3deeb75e597172496caa545a693dbee42e178003b3589c86af6521f1c543c146"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f4d06aec9ea747a24a7c99a68d8d7466f66a923521dd6f5ba3f80f988d38159","downloaded_from":"2026-09-09T23:15:29.409Z","last_downloaded_at":"2026-09-09T23:15:29.409Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478109","source_sha256":"3deeb75e597172496caa545a693dbee42e178003b3589c86af6521f1c543c146"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"All Entities","paragraphs":[{"citation":"235-932-50-1","para":"50-1","html":"
All entities engaged in oil- and gas-producing activities shall disclose in their financial statements the method of accounting for costs incurred in those activities and the manner of disposing of capitalized costs relating to those activities.
","snippet":"All entities engaged in oil- and gas-producing activities shall disclose in their financial statements the method of accounting for costs incurred in those activities and the manner of disposing of capitalized costs rela…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f6d9616a9544ae5adee269c6542319faca531cd21975c8bff841c0f23c2e1441","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-1A","para":"50-1A","html":"
An entity that has oil- and gas-producing activities also shall disclose, with complete sets of annual financial statements, information about continued capitalization of exploratory well costs (see the following paragraph). That disclosure is not considered to be supplementary information.
","snippet":"An entity that has oil- and gas-producing activities also shall disclose, with complete sets of annual financial statements, information about continued capitalization of exploratory well costs (see the following paragra…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30f1c42da1ef100b6fd123997811e23b0d0359d8a44424f24dca1d69f03abbc9","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-1B","para":"50-1B","html":"
An entity shall make the following disclosures in the notes to the annual financial statements to provide information for users of financial statements about management's application of judgment in its evaluation of a project's capitalized exploratory well costs. These disclosures are not required routinely in interim financial statements; however, interim financial statements shall include information about significant changes from the information presented in the most recent annual financial statements. Any impairment of capitalized exploratory well costs that were capitalized for a period of greater than one year after the completion of drilling at the most recent annual balance sheet date shall be considered significant for purposes of determining whether the change shall be disclosed in interim financial statements. All of the following disclosures are required:
  1. a
    The amount of capitalized exploratory well costs that is pending the determination of proved reserves. An entity also shall separately disclose for each annual period that an income statement is presented changes in those capitalized exploratory well costs resulting from all of the following:
    1. 1
      Additions to capitalized exploratory well costs that are pending the determination of proved reserves
    2. 2
      Capitalized exploratory well costs that were reclassified to wells, equipment, and facilities based on the determination of proved reserves
    3. 3
      Capitalized exploratory well costs that were charged to expense.
    This disclosure shall not include amounts that were capitalized and subsequently expensed in the same annual period.
  2. b
    The amount of exploratory well costs that have been capitalized for a period of greater than one year after the completion of drilling at the most recent balance sheet date and the number of projects for which those costs relate. Additionally, for exploratory well costs that have been capitalized for periods greater than one year at the most recent balance sheet date, an entity shall provide an aging of those amounts by year, or by using a range of years, and the number of projects to which those costs relate.
  3. c
    For exploratory well costs that continue to be capitalized for more than one year after the completion of drilling at the most recent balance sheet date, a description of the projects and the activities that the entity has undertaken to date in order to evaluate the reserves and the projects, and the remaining activities required to classify the associated reserves as proved.
","snippet":"An entity shall make the following disclosures in the notes to the annual financial statements to provide information for users of financial statements about management's application of judgment in its evaluation of a pr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80c417254409dcdda119c601896d0f81a02fa902d882d978c50b5900d06c574a","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e27987f9655d5ca1334f76383d6e5291d1add504dc3f4e9799340e8918c471e1","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"block":null,"heading":"Publicly Traded Companies","paragraphs":[{"citation":"235-932-50-1C","para":"50-1C","html":"
An entity is not required to make the disaggregated disclosures about its equity method investments required by paragraphs
932-235-50-2 through 50-36
if both of the following conditions are met:
  1. a
    The entity's equity method investments were acquired before December 31, 2009.
  2. b
    After making an exhaustive effort, the entity is unable to obtain the information necessary to provide the required disclosures.
If the preceding conditions are met, the entity shall continue to provide the disclosures required by those paragraphs in the aggregate and it shall disclose why it was not able to obtain the disaggregated information. This paragraph applies only as long as the entity continues to be unable to obtain the necessary information.
","snippet":"An entity is not required to make the disaggregated disclosures about its equity method investments required by paragraphs 932-235-50-2 through 50-36 if both of the following conditions are met:\n(a) The entity's equity m…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebcaa927ccaeba787ab7ad7cd949d298ca42dc887066fefc0be88a72fa9001e6","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-2","para":"50-2","html":"
Publicly traded companies that have significant oil- and gas-producing activities shall disclose with complete sets of annual financial statements the information required by the remainder of this Section. Those disclosures relate to the following and are considered to be supplementary information:
  1. a
    Proved oil and gas reserve quantities (see paragraphs 932-235-50-3 through 50-11B)
  2. b
    Capitalized costs relating to oil- and gas-producing activities (see paragraphs
    932-235-50-12 through 50-15
    )
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2010-03.
  4. d
    Costs incurred for property acquisition, exploration, and development activities (see paragraphs
    932-235-50-17 through 50-20
    )
  5. e
    Results of operations for oil- and gas-producing activities (see paragraphs
    932-235-50-21 through 50-28
    )
  6. f
    A standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities (see paragraphs
    932-235-50-29 through 50-33
    )
  7. g
    Changes in the standardized measure of discounted future net cash flows (see paragraphs
    932-235-50-34 through 50-36
    ).
","snippet":"Publicly traded companies that have significant oil- and gas-producing activities shall disclose with complete sets of annual financial statements the information required by the remainder of this Section. Those disclosu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a6ff825d14a670748b5ad114e49378469a37f2b0dfe85022f1bbcbf4c1d48f6f","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-2A","para":"50-2A","html":"
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 For disclosure requirements in paragraphs 932-235-50-3 through 50-36, an entity shall disclose all of the following:
  1. a
    Information that relates to annual periods for each annual period for which a statement of comprehensive income is required
  2. b
    Information required as of the end of an annual period for which a balance sheet is required
  3. c
    Information required as of the beginning of an annual period for each annual period for which a statement of comprehensive income is required.
","snippet":"Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance: 105-10-65-7 For disclosure requirements in paragraphs 932-235-50-3 through 50-36, an entity shall disclose all of the following:\n(a) Information th…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45fc470c4691ff4a7a1c432113bbc1272d51822c18bbb1aec92089e8c011c49f","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-3","para":"50-3","html":"
See Example 1 (paragraph 932-235-55-2) for an illustration of these requirements.
","snippet":"See Example 1 (paragraph 932-235-55-2) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ccf3daff8450edf5beb3905d3c19c1b89dd88628022bae8c5b70d800207cef38","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-4","para":"50-4","html":"
Net quantities of an entity's interests in proved oil and gas reserves, proved developed oil and gas reserves, and proved undeveloped oil and gas reserves of each of the following shall be disclosed as of the beginning and the end of the year:
  1. a
    Crude oil, including condensate and natural gas liquids (If significant, the reserve quantity information shall be disclosed separately for natural gas liquids.)
  2. b
    Natural gas
  3. c
    Synthetic oil
  4. d
    Synthetic gas
  5. e
    Other nonrenewable natural resources that are intended to be upgraded into synthetic oil and gas.
Net quantities of reserves include those relating to the entity's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned shall be included in net quantities if the necessary information is available to the entity; if reserves relating to royalty interests owned are not included because the information is unavailable, that fact and the entity's share of oil and gas produced for those royalty interests shall be disclosed for the year. Net quantities shall not include reserves relating to interests of others in properties owned by the entity.
","snippet":"Net quantities of an entity's interests in proved oil and gas reserves, proved developed oil and gas reserves, and proved undeveloped oil and gas reserves of each of the following shall be disclosed as of the beginning a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9967897f6c286be0e451b37cd35b160eee8aad33f7ab455c4b03923538d628b2","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-5","para":"50-5","html":"
Changes in the net quantities of an entity's proved reserves of oil and of gas during the year shall be disclosed. Changes resulting from all of the following shall be shown separately with appropriate explanation of significant changes:
  1. a
    Revisions of previous estimates. Revisions represent changes in previous estimates of proved reserves, either upward or downward, resulting from new information (except for an increase in proved acreage) normally obtained from development drilling and production history or resulting from a change in economic factors.
  2. b
    Improved recovery. Changes in reserve estimates resulting from application of improved recovery techniques shall be shown separately, if significant. If not significant, such changes shall be included in revisions of previous estimates.
  3. c
    Purchases of minerals in place.
  4. d
    Extensions and discoveries. Additions to proved reserves that result from either of the following:
    1. 1
      Extension of the proved acreage of previously discovered (old) reservoirs through additional drilling in periods subsequent to discovery
    2. 2
      Discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields.
  5. e
    Production.
  6. f
    Sales of minerals in place.
","snippet":"Changes in the net quantities of an entity's proved reserves of oil and of gas during the year shall be disclosed. Changes resulting from all of the following shall be shown separately with appropriate explanation of sig…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a80bb4a9ece81fccb538ff1265631c2979cdd060a761d81c37df9a3a8ba810d6","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-6","para":"50-6","html":"
The disclosures of net quantities of proved reserves of oil and of gas and changes in them required by paragraphs
932-235-50-4 through 50-5
shall be presented in the aggregate and separately by geographic area (see the following paragraph) in which significant reserves (see paragraph 932-235-50-6B) are located. If an entity's proved reserves of oil and of gas are located entirely within its home country, the entity shall disclose that fact.
","snippet":"The disclosures of net quantities of proved reserves of oil and of gas and changes in them required by paragraphs 932-235-50-4 through 50-5 shall be presented in the aggregate and separately by geographic area (see the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:47135deb79bc1c44af6cfccc86fa1ad093e8a76ad49c21099bda76ebf523edcb","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-6A","para":"50-6A","html":"
Any one of the following may constitute a geographic area, as appropriate for meaningful disclosure in the circumstances:
  1. a
    An individual country
  2. b
    A group of countries within a continent
  3. c
    A continent.
","snippet":"Any one of the following may constitute a geographic area, as appropriate for meaningful disclosure in the circumstances:\n(a) An individual country\n(b) A group of countries within a continent\n(c) A continent.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d912eb3c7c7b5929e4ed6cad463c729dbd069c4ddad694df536a081a1ad1b47d","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-6B","para":"50-6B","html":"
In determining whether reserves are significant:
  1. a
    An entity shall consider all facts and circumstances and not solely the quantity of reserves.
  2. b
    At a minimum, net quantities of reserves shall be presented in the aggregate and separately by geographic area and for each country containing 15 percent or more of an entity's proved reserves, expressed on an oil-equivalent-barrels basis.
Reserves shall include an entity's proportionate share of reserves of equity method investees.
","snippet":"In determining whether reserves are significant:\n(a) An entity shall consider all facts and circumstances and not solely the quantity of reserves.\n(b) At a minimum, net quantities of reserves shall be presented in the ag…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6dc22a29f78956e8a206ba7614dab17f1a24b00ccefd7fba3c6eab7e9fe8b902","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-7","para":"50-7","html":"
Net quantities disclosed in conformity with paragraphs 932-235-50-4 through 50-6B shall not include oil or gas subject to purchase under long-term supply, purchase, or similar agreements and contracts, including such agreements with governments or authorities. However, quantities of oil or gas subject to such agreements with governments or authorities as of the end of the year, and the net quantity of oil or gas received under the agreements during the year, shall be separately disclosed if the entity participates in the operation of the properties in which the oil or gas is located or otherwise serves as the producer of those reserves, as opposed, for example, to being an independent purchaser, broker, dealer, or importer.
","snippet":"Net quantities disclosed in conformity with paragraphs 932-235-50-4 through 50-6B shall not include oil or gas subject to purchase under long-term supply, purchase, or similar agreements and contracts, including such agr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:454501b48cdcd545c3098854359bf76c416d781da1bc53342d69ddadd4d194b4","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-8","para":"50-8","html":"
In determining the reserve quantities to be disclosed in conformity with paragraphs
932-235-50-4 through 50-7
:
  1. a
    If the entity issues consolidated financial statements, 100 percent of the net reserve quantities attributable to the parent and 100 percent of the net reserve quantities attributable to its consolidated subsidiaries (whether or not wholly owned) shall be included. If a significant portion of those reserve quantities at the end of the year is attributable to a consolidated subsidiary or subsidiaries in which there is a significant noncontrolling interest, that fact and the approximate portion shall be disclosed.
  2. b
    If the entity's financial statements include investments that are proportionately consolidated, the entity's reserve quantities shall include its proportionate share of the investees' net oil and gas reserves.
  3. c
    If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the net reserve quantities required by paragraphs
    932-235-50-4 through 50-7
    for both of the following:
    1. 1
      Consolidated entities
    2. 2
      The entity's share of equity method investees.
    The entity may, in addition to separate disclosure, disclose a combined total for items (1) and (2) for each of the quantities required to be disclosed by this paragraph.
","snippet":"In determining the reserve quantities to be disclosed in conformity with paragraphs 932-235-50-4 through 50-7:\n(a) If the entity issues consolidated financial statements, 100 percent of the net reserve quantities attribu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51e0f7d185ca93251d2b0697bf900c1087de05cb63dd9fb346eef5f5e3d510d8","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-9","para":"50-9","html":"
In reporting reserve quantities and changes in them, oil and synthetic oil reserves and natural gas liquids reserves shall be stated in barrels, and gas and synthetic gas reserves in cubic feet.
","snippet":"In reporting reserve quantities and changes in them, oil and synthetic oil reserves and natural gas liquids reserves shall be stated in barrels, and gas and synthetic gas reserves in cubic feet.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85bc59ffeb9ca41127bbf1afdaaaa5a81fefeaa37c1a8542b14f9d324bae86ac","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-10","para":"50-10","html":"
If important economic factors or significant uncertainties affect particular components of an entity's proved reserves, explanation shall be provided. Examples include unusually high expected development or lifting costs, the necessity to build a major pipeline or other major facilities before production of the reserves can begin, and contractual obligations to produce and sell a significant portion of reserves at prices that are substantially below those at which the oil or gas could otherwise be sold in the absence of the contractual obligation.
","snippet":"If important economic factors or significant uncertainties affect particular components of an entity's proved reserves, explanation shall be provided. Examples include unusually high expected development or lifting costs…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d48cca4e0567afe1f67d395252b2720791a65046e5e577de6494e1206e83733","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-11","para":"50-11","html":"
An entity need not disclose the proved reserves in either of the following circumstances:
  1. a
    The government of a country containing reserves prohibits disclosing reserves in that country.
  2. b
    The government of a country containing reserves prohibits disclosing a particular field, and disclosing reserves in that country would have the effect of disclosing reserves in particular fields.
","snippet":"An entity need not disclose the proved reserves in either of the following circumstances:\n(a) The government of a country containing reserves prohibits disclosing reserves in that country.\n(b) The government of a country…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80dd09187ad8b9faeb7090fe5bc8d1402bd73a664ebb5eaac57c0a586903d20f","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-11A","para":"50-11A","html":"
If a country's government prohibits disclosing the reserves in that country but does not prohibit including those reserves as part of a more aggregated total quantity of reserves (for example, the quantity of reserves disclosed for a group of countries within a continent or a continent), the entity shall include the reserves located in that country in total reserves disclosed for the most disaggregated geographic area that does not violate specific government prohibitions.
","snippet":"If a country's government prohibits disclosing the reserves in that country but does not prohibit including those reserves as part of a more aggregated total quantity of reserves (for example, the quantity of reserves di…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c31bbf620037278dc9117eb020752506069a1211a01480412bd170331bc098d2","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-11B","para":"50-11B","html":"
If a government restricts the disclosure of estimated reserves for properties under its authority, or of amounts under long-term supply, purchase, or similar agreements or contracts, or if the government requires the disclosure of reserves other than proved, the entity shall indicate that the disclosed reserve estimates or amounts do not include figures for the named country or that reserve estimates include reserves other than proved.
","snippet":"If a government restricts the disclosure of estimated reserves for properties under its authority, or of amounts under long-term supply, purchase, or similar agreements or contracts, or if the government requires the dis…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45caba90e7e9626b2e3585fac5169d1a4ac6f699ec77b8591ae5be8f4a31da12","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-12","para":"50-12","html":"
See Example 2 (paragraph 932-235-55-3) for an illustration of these requirements.
","snippet":"See Example 2 (paragraph 932-235-55-3) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9d728553f3719da4f84eafe9cddb683904a9f9f5cb54f652c88e5bac3072a7fa","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-13","para":"50-13","html":"
The aggregate capitalized costs relating to an entity's oil- and gas-producing activities (see paragraph 932-360-25-4) and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances shall be disclosed as of the end of the year. Paragraph 360-10-50-1 requires disclosure of balances of major classes of depreciable assets, by nature or function. Thus, separate disclosure of capitalized costs for asset categories in paragraph 932-360-25-4 or for a combination of those categories often may be appropriate.
","snippet":"The aggregate capitalized costs relating to an entity's oil- and gas-producing activities (see paragraph 932-360-25-4) and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b50c13cfc7c12226651a9f073bec737a2cc6379113768ec934a175c29086dd5e","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-14","para":"50-14","html":"
If significant, capitalized costs of unproved properties shall be separately disclosed. Capitalized costs of support equipment and facilities may be disclosed separately or included, as appropriate, with capitalized costs of proved and unproved properties.
","snippet":"If significant, capitalized costs of unproved properties shall be separately disclosed. Capitalized costs of support equipment and facilities may be disclosed separately or included, as appropriate, with capitalized cost…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:859d360db4906223dde706ab2b9dd624a845787121034eb038b365e16406dfd2","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-15","para":"50-15","html":"
If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs
932-235-50-13 through 50-14
for both of the following:
  1. a
    Consolidated entities
  2. b
    The entity's share of equity method investees.
The entity shall not disclose the combined total of items (a) and (b).
","snippet":"If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs 932-235-50-13 through 50-14 for both of the fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:18200ea09ac5a4facb6be0ff1e1a997dfc73f72e2fcca53791db4758e460d44c","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-16","para":"50-16","html":"
Paragraph superseded by Accounting Standards Update No. 2010-03.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2010-03.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df5b5ac01ccac9bfc165c7c303ea47ba4b79aa3da5cf74341e8ef886df4ce6b8","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-17","para":"50-17","html":"
See Example 3 (paragraph 932-235-55-4) for an illustration of these requirements.
","snippet":"See Example 3 (paragraph 932-235-55-4) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7debc7dc0e635f362938077681468f81e001161053e8890db61b473f1b845cbe","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-18","para":"50-18","html":"
All of the following types of costs for the year shall be disclosed (whether those costs are capitalized or charged to expense at the time they are incurred under the provisions of paragraphs
932-360-25-7 through 25-14
, 932-360-40-2, and 932-720-25-1):
  1. a
    Property acquisition costs
  2. b
    Exploration costs
  3. c
    Development costs.
As defined in paragraphs 932-360-25-9 and 932-360-25-13, exploration and development costs include depreciation of support equipment and facilities used in those activities and do not include the expenditures to acquire support equipment and facilities.
","snippet":"All of the following types of costs for the year shall be disclosed (whether those costs are capitalized or charged to expense at the time they are incurred under the provisions of paragraphs 932-360-25-7 through 25-14, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aaf1b019ca6567875c79390ba051dffa182a8782fdb3d0502c2d60749496b42d","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-19","para":"50-19","html":"
The amounts in the preceding paragraph shall be disclosed separately for each of the geographic areas for which reserve quantities are disclosed in accordance with paragraphs 932-235-50-6 through 50-6B. If significant costs have been incurred to acquire mineral interests that have proved reserves, those costs shall be disclosed separately from the costs of acquiring unproved properties.
","snippet":"The amounts in the preceding paragraph shall be disclosed separately for each of the geographic areas for which reserve quantities are disclosed in accordance with paragraphs 932-235-50-6 through 50-6B. If significant co…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8215d538254d5aa2ec5977bbb1100bae2f1c390efe92104a9401fc841e6c350","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-20","para":"50-20","html":"
If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs
932-235-50-18 through 50-19
for both of the following:
  1. a
    Consolidated entities
  2. b
    The entity's share of equity method investees.
The entity shall not disclose the combined total of items (a) and (b).
","snippet":"If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs 932-235-50-18 through 50-19 for both of the fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3356eb10a915c9b6626441a8dede7b338c4841c1a60721b140b31db905e22ba7","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-21","para":"50-21","html":"
See Example 4 (paragraph 932-235-55-5) for an illustration of these requirements.
","snippet":"See Example 4 (paragraph 932-235-55-5) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1c6c9896d69a444712db0acf4d093f78d441a730508a70983f5772d71bea7102","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-22","para":"50-22","html":"
If oil- and gas-producing activities represent substantially all of the business activities of the reporting entity and those oil- and gas-producing activities are located substantially in a single geographic area, the information required in paragraphs
932-235-50-22 through 50-28
need not be disclosed if that information is provided elsewhere in the financial statements. If oil- and gas-producing activities constitute an operating segment, as discussed in paragraphs
280-10-50-1 through 50-18
, information about the results of operations required in paragraphs
932-235-50-22 through 50-28
may be included with segment information disclosed elsewhere in the financial report.
","snippet":"If oil- and gas-producing activities represent substantially all of the business activities of the reporting entity and those oil- and gas-producing activities are located substantially in a single geographic area, the i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03dbc528f6ac5e15971b0c82e232cf512ace081343481ce09390b39d5ab20b00","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-23","para":"50-23","html":"
The results of operations for oil- and gas-producing activities shall be disclosed for the year. That information shall be disclosed in the aggregate and for each geographic area for which reserve quantities are disclosed in accordance with paragraphs 932-235-50-6 through 50-6B. All of the following information relating to those activities shall be presented:
  1. a
    Revenues (see the following paragraph)
  2. b
    Production (lifting) costs
  3. c
    Exploration expenses (Generally, only entities utilizing the successful efforts accounting method will have exploration expenses to disclose, since entities utilizing the full cost accounting method generally capitalize all exploration costs when incurred and subsequently reflect those costs in the determination of earnings through depreciation, depletion, and amortization, and valuation provisions.)
  4. d
    Depreciation, depletion, and amortization, and valuation provisions
  5. e
    Income tax expenses (see paragraph 932-235-50-25)
  6. f
    Results of operations for oil- and gas-producing activities (excluding corporate overhead and interest costs) (see paragraphs
    932-235-50-26 through 50-27
    ).
","snippet":"The results of operations for oil- and gas-producing activities shall be disclosed for the year. That information shall be disclosed in the aggregate and for each geographic area for which reserve quantities are disclose…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:52673a6ea8a3f48fb1e74911f8309cbb5607b8979dc6e8035fba22f864b330a1","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-24","para":"50-24","html":"
Revenues shall include sales to unaffiliated entities and sales or transfers to the entity's other operations (for example, refineries or chemical plants). Sales to unaffiliated entities may be contracts with customers within the scope of Topic 606; see disclosure requirements in Section 606-10-50. Sales to unaffiliated entities and sales or transfers to the entity's other operations shall be disclosed separately. Revenues shall include sales to unaffiliated entities attributable to net working interests, royalty interests, oil payment interests, and net profits interests of the reporting entity. Sales or transfers to the entity's other operations shall be based on market prices determined at the point of delivery from the producing unit. Those market prices shall represent prices equivalent to those that could be obtained in an arm's-length transaction. Production or severance taxes shall not be deducted in determining gross revenues, but rather shall be included as part of production costs. Royalty payments and net profits disbursements shall be excluded from gross revenues.
","snippet":"Revenues shall include sales to unaffiliated entities and sales or transfers to the entity's other operations (for example, refineries or chemical plants). Sales to unaffiliated entities may be contracts with customers w…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9cbc6f51f63d6295c33dbc4ddf2d5cce80fa9a7a6d09502c7dcb44cf1aad039f","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-25","para":"50-25","html":"
Income taxes shall be computed using the statutory tax rate for the period, applied to revenues less production (lifting) costs; exploration expenses; depreciation, depletion, and amortization; and valuation provisions. Calculation of income tax expenses shall reflect tax deductions and tax credits and allowances relating to the oil- and gas-producing activities that are reflected in the entity's consolidated income tax expense for the period.
","snippet":"Income taxes shall be computed using the statutory tax rate for the period, applied to revenues less production (lifting) costs; exploration expenses; depreciation, depletion, and amortization; and valuation provisions. …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ecbc1a315bc68035bdff0519ee84137bbe132276ae70b615c043ca7cc716dfe8","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-26","para":"50-26","html":"
Results of operations for oil- and gas-producing activities are defined as revenues less production (lifting) costs; exploration expenses; depreciation, depletion, and amortization; valuation provisions; and income tax expenses. General corporate overhead and interest costs shall not be deducted in computing the results of operations for an entity's oil- and gas-producing activities. The disposition of interest costs that have been capitalized as part of the cost of acquiring qualifying assets used in oil- and gas-producing activities shall be the same as that of other components of those assets' costs. However, some expenses incurred at an entity's central administrative office may not be general corporate expenses, but rather may be operating expenses of oil- and gas-producing activities, and therefore shall be reported as such. The nature of an expense rather than the location of its incurrence shall determine whether it is an operating expense. Only those expenses identified by their nature as operating expenses shall be allocated as operating expenses in computing the results of operations for oil- and gas-producing activities.
","snippet":"Results of operations for oil- and gas-producing activities are defined as revenues less production (lifting) costs; exploration expenses; depreciation, depletion, and amortization; valuation provisions; and income tax e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c38aa56d9d576252b0ace9b46651a03c52096b6b835ba010892d03db983b4d55","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-27","para":"50-27","html":"
The amounts disclosed in conformity with paragraphs
932-235-50-21 through 50-28
shall include an entity's interests in proved oil and gas reserves (see paragraphs 932-235-50-3 through 50-11B) and in oil and gas subject to purchase under long-term supply, purchase, or similar agreements and contracts in which the entity participates in the operation of the properties on which the oil or gas is located or otherwise serves as the producer of those reserves (see paragraph 932-235-50-7).
","snippet":"The amounts disclosed in conformity with paragraphs 932-235-50-21 through 50-28 shall include an entity's interests in proved oil and gas reserves (see paragraphs 932-235-50-3 through 50-11B) and in oil and gas subject t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0cd35d5449c6e3371a4fa9fbbf8f02389a2fa9e8831e361c835edc101350724f","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-28","para":"50-28","html":"
If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs
932-235-50-22 through 50-27
for both of the following:
  1. a
    Consolidated entities
  2. b
    The entity's share of equity method investees.
The entity shall not disclose the combined total of items (a) and (b), except that an entity may, in addition to separate disclosure, disclose the combined total of items (a) and (b) for the amounts required by paragraph 932-235-50-23(f).
","snippet":"If the entity's financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs 932-235-50-22 through 50-27 for both of the fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1931a41adb120b31a8ccbce6c54f22a6449e06de6334bea84ced5a8bc231e6f7","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-29","para":"50-29","html":"
See Example 5 (paragraph 932-235-55-6) for an illustration of these requirements.
","snippet":"See Example 5 (paragraph 932-235-55-6) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30eceee569b1f8a5002ed699c6e9b6ca32bd310146920ac91ffe975744ed124e","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-30","para":"50-30","html":"
A standardized measure of discounted future net cash flows relating to an entity's interests in both of the following shall be disclosed as of the end of the year:
  1. a
    Proved oil and gas reserves (see paragraphs 932-235-50-3 through 50-11B)
  2. b
    Oil and gas subject to purchase under long-term supply, purchase, or similar agreements and contracts in which the entity participates in the operation of the properties on which the oil or gas is located or otherwise serves as the producer of those reserves (see paragraph 932-235-50-7).
The standardized measure of discounted future net cash flows relating to those two types of interests in reserves may be combined for reporting purposes.
","snippet":"A standardized measure of discounted future net cash flows relating to an entity's interests in both of the following shall be disclosed as of the end of the year:\n(a) Proved oil and gas reserves (see paragraphs 932-235-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a6f5e0efda9d43c97fab06be04d0e1f451da976dbe5088036671e404b0d8712","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-31","para":"50-31","html":"
All of the following information shall be disclosed in the aggregate and for each geographic area for which reserve quantities are disclosed in accordance with paragraphs 932-235-50-3 through 50-11B:
  1. a
    Future cash inflows. These shall be computed by applying prices used in estimating the entity's proved oil and gas reserves to the year-end quantities of those reserves. Future price changes shall be considered only to the extent provided by contractual arrangements in existence at year-end.
  2. b
    Future development and production costs. These costs shall be computed by estimating the expenditures to be incurred in developing and producing the proved oil and gas reserves at the end of the year, based on year-end costs and assuming continuation of existing economic conditions. If estimated development expenditures are significant, they shall be presented separately from estimated production costs.
  3. c
    Future income tax expenses. These expenses shall be computed by applying the appropriate year-end statutory tax rates, with consideration of future tax rates already legislated, to the future pretax net cash flows relating to the entity's proved oil and gas reserves, less the tax basis of the properties involved. The future income tax expenses shall give effect to tax deductions and tax credits and allowances relating to the entity's proved oil and gas reserves.
  4. d
    Future net cash flows. These amounts are the result of subtracting future development and production costs and future income tax expenses from future cash inflows.
  5. e
    Discount. This amount shall be derived from using a discount rate of 10 percent a year to reflect the timing of the future net cash flows relating to proved oil and gas reserves.
  6. f
    Standardized measure of discounted future net cash flows. This amount is the future net cash flows less the computed discount.
","snippet":"All of the following information shall be disclosed in the aggregate and for each geographic area for which reserve quantities are disclosed in accordance with paragraphs 932-235-50-3 through 50-11B:\n(a) Future cash infl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b50301cbc87e5d3d9c939d4aa4ea01ff3d57906fd2fcc677424c0e645c047c0","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-32","para":"50-32","html":"
If a significant portion of the economic interest in the consolidated standardized measure of discounted future net cash flows reported is attributable to a consolidated subsidiary or subsidiaries in which there is a significant noncontrolling interest, that fact and the approximate portion shall be disclosed.
","snippet":"If a significant portion of the economic interest in the consolidated standardized measure of discounted future net cash flows reported is attributable to a consolidated subsidiary or subsidiaries in which there is a sig…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cb74fde68afcd586b77ed151cce3312195aa943d3e277a7be726dd5911a26d22","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-33","para":"50-33","html":"
If the financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs
932-235-50-30 through 50-32
for both of the following:
  1. a
    Consolidated entities
  2. b
    The entity's share of equity method investees.
The entity may, in addition to separate disclosure, disclose a combined total for items (a) and (b) for each of the amounts required to be disclosed by this paragraph.
","snippet":"If the financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by paragraphs 932-235-50-30 through 50-32 for both of the following:\n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42f61cbaa182e6d0b861be4013fb2e9efe775cd96419b5ad233a7de13782fa77","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-34","para":"50-34","html":"
See Example 6 (paragraph 932-235-55-7) for an illustration of these requirements.
","snippet":"See Example 6 (paragraph 932-235-55-7) for an illustration of these requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3eff01b167c9f8437198fb3a485b483e834884b8922e3893fcd58aa3079384f9","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-35","para":"50-35","html":"
The aggregate change in the standardized measure of discounted future net cash flows shall be disclosed for the year. If individually significant, all of the following sources of change shall be presented separately:
  1. a
    Net change in sales and transfer prices and in production (lifting) costs related to future production
  2. b
    Changes in estimated future development costs
  3. c
    Sales and transfers of oil and gas produced during the period
  4. d
    Net change due to extensions, discoveries, and improved recovery
  5. e
    Net change due to purchases and sales of minerals in place
  6. f
    Net change due to revisions in quantity estimates
  7. g
    Previously estimated development costs incurred during the period
  8. h
    Accretion of discount
  9. i
    Other—unspecified
  10. j
    Net change in income taxes.
In computing the amounts under each of the above categories, the effects of changes in prices and costs shall be computed before the effects of changes in quantities. As a result, changes in quantities shall be stated at prices used in estimating proved oil and gas reserves and year-end costs. The change in computed income taxes shall reflect the effect of income taxes incurred during the period as well as the change in future income tax expenses. Therefore, all changes except income taxes shall be reported pretax.
","snippet":"The aggregate change in the standardized measure of discounted future net cash flows shall be disclosed for the year. If individually significant, all of the following sources of change shall be presented separately:\n(a)…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81b5f616ef20d5108f923a394cb9bcbea898a9444fd3cd328fb26849dc186e80","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-35A","para":"50-35A","html":"
If the financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by the preceding paragraph for both of the following:
  1. a
    Consolidated entities
  2. b
    The entity's share of equity method investees.
The entity may, in addition to separate disclosure, disclose a combined total for items (a) and (b) for each of the amounts required to be disclosed by this paragraph.
","snippet":"If the financial statements include investments that are accounted for by the equity method, the entity shall separately disclose the amounts required by the preceding paragraph for both of the following:\n(a) Consolidate…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3df9ae1c7bad5920292d54bffdb4efdb775d122bbdc632318e7ca9ae134a6846","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"citation":"235-932-50-36","para":"50-36","html":"
Additional information necessary to prevent the disclosure of the standardized measure of discounted future net cash flows and changes therein from being misleading also shall be provided.
","snippet":"Additional information necessary to prevent the disclosure of the standardized measure of discounted future net cash flows and changes therein from being misleading also shall be provided.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f53d0cfe279ec3aa6e9b1db04c538c6bfdf94c07a200c648082d3097f861060","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e88b5ffc9692e6d979eb6d72333c82b052770c3b9c92023a5522c2f2d14d3dfd","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:83b65cd4ca1deefa2208f51c1853120def71c05febf37e9b83ac4c10ed81aee9","downloaded_from":"2026-09-09T23:15:35.317Z","last_downloaded_at":"2026-09-09T23:15:35.317Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477215","source_sha256":"fd7c9e9af20310ed9b42392ecbeacb819b2833c7da451ed4755ab01e055136b8"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"235-932-55-1","para":"55-1","html":"
The following Examples present formats that may be used to disclose certain information required by this Subtopic when a complete set of annual financial statements is presented for one year.
","snippet":"The following Examples present formats that may be used to disclose certain information required by this Subtopic when a complete set of annual financial statements is presented for one year.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fcff2597e91f17e6ee71be8674bae51c10c7fb3589fb13f2ec005ed1248600e3","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-2","para":"55-2","html":"
This Example illustrates the guidance in paragraphs 932-235-50-3 through 50-11B.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-3 through 50-11B.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:78dacd56302fd5ead192c2237e5b76e457f0568463a820ca32f8db1e4fb0532b","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-3","para":"55-3","html":"
This Example illustrates the guidance in paragraphs
932-235-50-12 through 50-15
.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-12 through 50-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24b61a16bb9635cf7b1e9dc759bb086ed74fd55a049f6383f648de09c45fa4f2","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-4","para":"55-4","html":"
This Example illustrates the guidance in paragraphs
932-235-50-17 through 50-20
.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-17 through 50-20.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:069efda592c09d8d3f0dcc43fdf1eb9016dadce1b265a7ee548785aaf6dd7a30","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-5","para":"55-5","html":"
This Example illustrates the guidance in paragraphs
932-235-50-21 through 50-28
.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-21 through 50-28.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:29ae19590522132be4f7e75adb74fe4cf3091ba4894a5a34b4d8e4bb94fbdb13","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-6","para":"55-6","html":"
This Example illustrates the guidance in paragraphs
932-235-50-29 through 50-33
.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-29 through 50-33.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c541e68b1141435d450861c962ebf7291292e9627922458df9dca27c4772b999","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"citation":"235-932-55-7","para":"55-7","html":"
This Example illustrates the guidance in paragraphs 932-235-50-34 through 50-35A.
","snippet":"This Example illustrates the guidance in paragraphs 932-235-50-34 through 50-35A.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a5f0e5d338bb3f439399f607bac0dc707a5275c1a0f7ace3af754030a32ccc8","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1a8fa721db9ebab16d7fda987e507e2f58e769477642b2b0021f84c370447662","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c624144d944bf4ee77e0d6cdfdf4c6603addd2dd6f22a816e6f5d309cf4e4e70","downloaded_from":"2026-09-09T23:15:37.040Z","last_downloaded_at":"2026-09-09T23:15:37.040Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477916","source_sha256":"46ac60fe74f58a1406a85f4fcff317025dd94173a047ad41779bc7f7ff4e5021"}},{"number":"S00","label":"SEC 00 Status","anchor":"sec-00-status","is_sec":true,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-932-S00-1","para":"S00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
932-235-S99-1AmendedAccounting Standards Update No. 2012-0308/27/2012
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n932-235-S99-1 | Amended | Accounting Standards Update No. 2012-03 | 08/27/2012 |","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf1fc5ae2b1cc3c2f361b92294f9afa675c708017e9b9e15bf597962b5ff4a71","downloaded_from":"2026-09-09T23:15:42.306Z","last_downloaded_at":"2026-09-09T23:15:42.306Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477602","source_sha256":"3e1957317006cc2b20dfb7bc31a60cf09b89276101fc44c1779f35726b5d5bb3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8060e42a5e76f0a7a1b1f13cd6b81b0ed2936f883461bb91f8bd9fb59fdc785","downloaded_from":"2026-09-09T23:15:42.306Z","last_downloaded_at":"2026-09-09T23:15:42.306Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477602","source_sha256":"3e1957317006cc2b20dfb7bc31a60cf09b89276101fc44c1779f35726b5d5bb3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f66ec296aeb40e74c0ff7ac353af9af7be9a147dbbe6f702ed35902cd40bc889","downloaded_from":"2026-09-09T23:15:42.306Z","last_downloaded_at":"2026-09-09T23:15:42.306Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477602","source_sha256":"3e1957317006cc2b20dfb7bc31a60cf09b89276101fc44c1779f35726b5d5bb3"}},{"number":"S50","label":"SEC 50 Disclosure","anchor":"sec-50-disclosure","is_sec":true,"groups":[{"block":null,"heading":"Disclosures Related to Oil- and Gas-Producing Activities","paragraphs":[{"citation":"235-932-S50-1","para":"S50-1","html":"
See paragraph 932-235-S99-1, SAB Topic 12.A.3.c, for SEC Staff views on disclosures related to oil- and gas-producing activities to be provided by limited partnerships in Form 10-K.
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See paragraph 932-235-S99-1, SAB Topic 12.A.3.d, for SEC Staff views on disclosures related to the general partner in the registration statement of the limited partnership.
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See paragraph 932-235-S99-1, SAB Topic 12.A.3.e, for SEC Staff views on disclosures for rate-regulated entities.
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The following is the text of SAB Topic 12.A.3, Disclosure of Reserve Information.
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Limited partnership 10-K reports.\nFacts: Securities Act Industry Guide 2 contains an exemption from the requirements of the Guide to di…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ad523f87b124ce5a3d702737d6486c32372ffec4e4b195285f41e36a0e594be","downloaded_from":"2026-09-09T23:15:51.914Z","last_downloaded_at":"2026-09-09T23:15:51.914Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477759","source_sha256":"060e248eef960e101ad34900f666aeebf83538f71fdc3a3468814472345f3c6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cb5f836a28cae6f690303436094cb0bdd580dea32d9f53c05894f18976451d4c","downloaded_from":"2026-09-09T23:15:51.914Z","last_downloaded_at":"2026-09-09T23:15:51.914Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477759","source_sha256":"060e248eef960e101ad34900f666aeebf83538f71fdc3a3468814472345f3c6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4f1160c620993b14a25516b042d7f524f1ff12451b5ae5c7b6b095ef9df4731f","downloaded_from":"2026-09-09T23:15:51.914Z","last_downloaded_at":"2026-09-09T23:15:51.914Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477759","source_sha256":"060e248eef960e101ad34900f666aeebf83538f71fdc3a3468814472345f3c6d"}}],"enrichment":{"summary":"ASC 932-235 sets the note and supplemental disclosure requirements for entities with oil- and gas-producing activities. All such entities must disclose their cost accounting method (successful efforts vs. full cost), how capitalized costs are disposed of, and information about exploratory well costs still capitalized pending determination of proved reserves. Publicly traded companies with significant oil and gas activities must additionally provide, as supplementary information with annual statements, proved reserve quantities and changes, capitalized costs, costs incurred, results of operations, the standardized measure of discounted future net cash flows, and changes in that measure.","key_points":["All entities engaged in oil- and gas-producing activities must disclose the method of accounting for costs incurred and the manner of disposing of capitalized costs (932-235-50-1).","Continued capitalization of exploratory well costs is a required note disclosure (expressly not supplementary): amounts pending determination of proved reserves with a rollforward of additions, reclassifications to wells/equipment, and charges to expense; amounts capitalized more than one year after completion of drilling with an aging and project count; and a description of the projects and remaining activities needed to classify reserves as proved (932-235-50-1A through 50-1B).","Publicly traded companies with significant oil- and gas-producing activities must disclose, as supplementary information with complete annual financial statements, the seven categories listed in 932-235-50-2.","Net proved, proved developed, and proved undeveloped reserve quantities of oil, gas, synthetic oil/gas, and other nonrenewable resources must be disclosed at the beginning and end of year, with changes broken out by revisions of previous estimates, improved recovery, purchases of minerals in place, extensions and discoveries, production, and sales of minerals in place (932-235-50-4 through 50-5).","Reserve, cost, results-of-operations, and standardized measure disclosures must be presented in the aggregate and separately by geographic area, at a minimum for each country containing 15 percent or more of proved reserves on an oil-equivalent-barrels basis (932-235-50-6 through 50-6B).","Results of operations for oil- and gas-producing activities equal revenues less production (lifting) costs, exploration expenses, DD&A and valuation provisions, and income taxes at the statutory rate, excluding general corporate overhead and interest costs (932-235-50-23 through 50-26).","The standardized measure applies prices used in estimating proved reserves to year-end quantities, subtracts future development and production costs at year-end costs and future income taxes at year-end statutory rates, and discounts at 10 percent per year; equity method investee amounts are generally disclosed separately from consolidated entities (932-235-50-31, 50-33)."],"categories":["Disclosure","Industry-specific","Presentation"],"audience_level":"advanced","student_note":"This is the classic supplemental oil and gas disclosure package presented with E&P company financial statements; the standardized measure is a prescribed computation (reserve-estimation prices, year-end costs, 10% discount) and is not the fair value of the reserves. A common mistake is treating the exploratory well cost disclosures as supplementary—932-235-50-1A makes them required notes for all entities with oil and gas activities, not just public companies.","related_topics":["932-10","932-360","932-720","606-10","360-10","280-10"],"key_concepts":["proved oil and gas reserves","standardized measure of discounted future net cash flows","exploratory well costs pending determination of proved reserves","costs incurred for acquisition, exploration, and development","results of operations for oil- and gas-producing activities","successful efforts and full cost methods","geographic area disclosure","equity method investee 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The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
942-235-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
942-235-S99-2AmendedAccounting Standards Update No. 2019-0707/26/2019
942-235-S99-2AmendedAccounting Standards Update No. 2010-2108/02/2010
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See paragraph 942-235-S99-1, Regulation S-X Rule 9-05, for disclosure requirements pertaining to foreign activities.
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See paragraph 944-235-S99-2, Regulation S-X Rule 12-17, for the requirements of Schedule IV—Reinsurance
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See paragraph 235-10-S99-4, Regulation S-X Rule 12-09, for the requirements of Schedule V—Valuation and Qualifying Accounts.
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See paragraph 944-235-S99-3, Regulation S-X Rule 12-18, for the requirements of Schedule VI—Supplemental Information Concerning Property-Casualty Insurance Operations.
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The following is the text of Regulation S-X Rule 12-16, Supplementary Insurance Information (17 CFR 210.12-16).[46 FR 54338, Nov. 2, 1981, as amended at 57 FR 45293, Oct. 1, 1992; 64 FR 1734, Jan. 12, 1999; 83 FR 50208, Oct. 4, 2018]
","snippet":"The following is the text of Regulation S-X Rule 12-16, Supplementary Insurance Information (17 CFR 210.12-16).\n[46 FR 54338, Nov. 2, 1981, as amended at 57 FR 45293, Oct. 1, 1992; 64 FR 1734, Jan. 12, 1999; 83 FR 50208,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d947051f7bb0aa9e9e5cb29e48408025754b8f286a146b0b0b01dcf8fe6867a","downloaded_from":"2026-09-09T23:16:20.080Z","last_downloaded_at":"2026-09-09T23:16:20.080Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477965","source_sha256":"8654bd9ca0c115377191d2c2f03a7e628b21af09ea20e87735621eea078e2847"}},{"citation":"235-944-S99-2","para":"S99-2","html":"
The following is the text of Regulation S-X Rule 12-17, Reinsurance (17 CFR 210.12-17).[46 FR 54338, Nov. 2, 1981, as amended at 83 FR 50208, Oct. 4, 2018]
","snippet":"The following is the text of Regulation S-X Rule 12-17, Reinsurance (17 CFR 210.12-17).\n[46 FR 54338, Nov. 2, 1981, as amended at 83 FR 50208, Oct. 4, 2018]","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:218ac518087b7862cc50e83c57d178ce4dfa4c9706135fd08c08570e713c3cc3","downloaded_from":"2026-09-09T23:16:20.080Z","last_downloaded_at":"2026-09-09T23:16:20.080Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477965","source_sha256":"8654bd9ca0c115377191d2c2f03a7e628b21af09ea20e87735621eea078e2847"}},{"citation":"235-944-S99-3","para":"S99-3","html":"
The following is the text of Regulation S-X Rule 12-18, Supplemental Information (for Property-Casualty Insurance Underwriters) (17 CFR 210.12-18).[49 FR 47599, Dec. 6, 1984, as amended at 83 FR 50208, Oct. 4, 2018]
","snippet":"The following is the text of Regulation S-X Rule 12-18, Supplemental Information (for Property-Casualty Insurance Underwriters) (17 CFR 210.12-18).\n[49 FR 47599, Dec. 6, 1984, as amended at 83 FR 50208, Oct. 4, 2018]","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0066a00619af82b7c3f95da91c5343d74b9b742ea9357458ece292efd9dd07b7","downloaded_from":"2026-09-09T23:16:20.080Z","last_downloaded_at":"2026-09-09T23:16:20.080Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Companies","area":"Presentation","paragraphs":18,"summary":"This Subtopic sets the note disclosure requirements for investment companies with complex capital structures — multiple-class funds, master-feeder arrangements, and funds of funds. Multiple-class funds must describe each class, the income/expense and gain/loss allocation method, class-specific fee arrangements, capital share transactions by class, and sales charges paid to affiliates. Feeder funds must describe the master-feeder structure, their percentage ownership of the master, and the master's accounting policies affecting them, while funds of funds must describe the structure and the valuation policy based on investee-reported values.","concepts":["multiple class shares","master-feeder structure","fund of funds","expense allocation method","distribution plan fees","capital share transactions","investment company disclosures","valuation policy"],"categories":["Disclosure","Industry-specific","Presentation","Fair value"],"level":"intermediate","topic_title":"Notes to Financial Statements","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-946-05-1","para":"05-1","html":"
This Subtopic addresses notes to financial statements for investment companies with complex capital structures.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15.
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Management investment companies that have multiple classes of shares or master-feeder structures shall apply the following disclosure guidance.
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Notes to financial statements shall include all of the following:
  1. a
    Description of each class of shares, including sales charges, shareholder servicing fees, and distribution fees
  2. b
    Disclosure of the method used to allocate income and expenses, and realized and unrealized capital gains and losses, to each class
  3. c
    Description of fee arrangements for class-specific distribution plans and for any other class-level expenses paid to affiliates
  4. d
    Disclosure of capital share transactions (if not disclosed separately in the statement of changes in net assets) for each class
  5. e
    Disclosure of total sales charges paid to any affiliates for each class.
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Notes to financial statements of each feeder fund shall include all of the following:
  1. a
    A general description of the master and feeder structure
  2. b
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  3. c
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  4. d
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Fund management shall consider whether, and to what extent, disclosure of the investee funds' investment policies is appropriate.
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Notes to financial statements of the reporting fund shall include both of the following:
  1. a
    A general description of the fund of funds structure
  2. b
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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
946-235-S99-1 through S99-4
 Amended Accounting Standards Update No. 2019-07 07/26/2019
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See paragraph 946-10-S99-3, Regulation S-X Rule 6-03(e), for requirements for disclosures pertaining to qualified assets.
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See paragraph 946-10-S99-3, Regulation S-X, Rule 6-03(f), for required disclosures pertaining to investments in restricted securities.
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See paragraph 946-235-S99-1, Regulation S-X Rule 12-24, for the requirements of Schedule IV—Real Estate Owned and Rental Income for face-amount certificate companies.
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See paragraph 946-235-S99-2, Regulation S-X Rule 12-25, for the requirements of the Supplementary Profit and Loss Information.
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See paragraph 946-235-S99-3, Regulation S-X Rule 12-26, for the requirements of Schedule VI—Certificate Reserves for face-amount certificate issuers.
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See paragraph 946-235-S99-4, Regulation S-X Rule 12-27, for the requirements of Schedule V—Qualified Assets on Deposit for face-amount certificate issuers.
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The following is the text of Regulation S-X Rule 12-24, Real Estate Owned and Rental Income (17 CFR 210.12-24). [16 FR 348, Jan. 13, 1951, as amended at 16 FR 2655, Mar. 24, 1951. Redesignated at 45 FR 63679, Sept. 25, 1980; 83 FR 50208, Oct. 4, 2018]
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The following is the text of Regulation S-X Rule 12-25, Supplementary Profit and Loss Information (17 CFR 210.12-25).
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The following is the text of Regulation S-X Rule 12-26, Certificate Reserves (17 CFR 210.12-26).
","snippet":"The following is the text of Regulation S-X Rule 12-26, Certificate Reserves (17 CFR 210.12-26).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:32fe3753a815a3185efbb182f72c23b1ab3b17bf3a72c8c72f9e38c1bff994d4","downloaded_from":"2026-09-09T23:16:36.179Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479297","source_sha256":"811c702244b021faee50a9c6d3ee9fc730fb49aadccfca10aa617af7a5754b76"}},{"citation":"235-946-S99-4","para":"S99-4","html":"
The following is the text of Regulation S-X Rule 12-27, Qualified Assets on Deposit (17 CFR 210.12-27).[59 FR 65637, Dec. 20, 1994, as amended at 83 FR 50208, Oct. 4, 2018]
","snippet":"The following is the text of Regulation S-X Rule 12-27, Qualified Assets on Deposit (17 CFR 210.12-27).\n[59 FR 65637, Dec. 20, 1994, as amended at 83 FR 50208, Oct. 4, 2018]","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d68051f7684de911d831d66f563fd3f0e46b828c596f0ba35f752eb97c37611f","downloaded_from":"2026-09-09T23:16:36.179Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479297","source_sha256":"811c702244b021faee50a9c6d3ee9fc730fb49aadccfca10aa617af7a5754b76"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b2921d44dfa3dbf0812efe2b09e9fd5440bc43145629eca1f1fe1b08ef0e1a2b","downloaded_from":"2026-09-09T23:16:36.179Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479297","source_sha256":"811c702244b021faee50a9c6d3ee9fc730fb49aadccfca10aa617af7a5754b76"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9ff4fbc0f01353eafbef796483a91c5adcc6aea2555e92f77410e444e7b04fc4","downloaded_from":"2026-09-09T23:16:36.179Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479297","source_sha256":"811c702244b021faee50a9c6d3ee9fc730fb49aadccfca10aa617af7a5754b76"}}],"enrichment":{"summary":"This Subtopic sets the note disclosure requirements for investment companies with complex capital structures — multiple-class funds, master-feeder arrangements, and funds of funds. Multiple-class funds must describe each class, the income/expense and gain/loss allocation method, class-specific fee arrangements, capital share transactions by class, and sales charges paid to affiliates. Feeder funds must describe the master-feeder structure, their percentage ownership of the master, and the master's accounting policies affecting them, while funds of funds must describe the structure and the valuation policy based on investee-reported values.","key_points":["Management investment companies with multiple classes of shares or master-feeder structures apply this disclosure guidance (235-946-50-1).","Multiple-class funds must disclose a description of each class (sales charges, shareholder servicing fees, distribution fees), the allocation method for income, expenses, and realized/unrealized gains and losses, class-specific distribution plan and affiliate expense arrangements, capital share transactions by class if not shown in the statement of changes in net assets, and total sales charges paid to affiliates by class (235-946-50-2).","Each feeder fund's notes must give a general description of the master-feeder structure, its percentage ownership of the master at the 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(235-946-50-5)."],"categories":["Disclosure","Industry-specific","Presentation","Fair value"],"audience_level":"intermediate","student_note":"These disclosures are how readers of a fund's financials figure out which economics belong to which share class or to the master versus the feeder; a common misunderstanding is assuming a feeder must present its own portfolio of investments and tax-basis appreciation data, when the guidance instead directs a reference to the master's statements.","related_topics":["946-10","946-205","946-210","946-320","820","235-10"],"key_concepts":["multiple class shares","master-feeder structure","fund of funds","expense allocation method","distribution plan fees","capital share transactions","investment company disclosures","valuation 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See paragraph 962-205-S99-1, Regulation S-X Rule 6A-02, for required footnote disclosure pertaining to employee stock purchase, savings, and similar plans.
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Beyond ordinary GAAP disclosures, a CIRA must describe its legal form and the entity it serves, developer services/subsidies and developer-owned units, the proposed use of special assessment funds, and any assessments used for undesignated purposes (235-972-50-1). It must also disclose its funding for future major repairs and replacements (235-972-50-2) and present cost estimates for those repairs and replacements as unaudited supplementary information (235-972-50-3).","concepts":["common interest realty association","future major repairs and replacements","special assessments","developer subsidies","funding policy disclosure","unaudited supplementary information","remaining useful lives of common property","designated funds"],"categories":["Disclosure","Industry-specific","Presentation"],"level":"intermediate","topic_title":"Notes to Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-972-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
972-235-50-1AmendedAccounting Standards Update No. 2014-0905/28/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n972-235-50-1 | Amended | Accounting Standards Update No. 2014-09 | 05/28/2014 |","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ef4c88512fb3aca251e7b02437abcc00c0fe937e51f23419496de4b824474f17","downloaded_from":"2026-09-09T23:16:43.120Z","last_downloaded_at":"2026-09-09T23:16:43.120Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477307","source_sha256":"46a5a8f8f4af10fd0e752151f7ec17a47bb5073f7c73d3d0e2eee40b90d0aa06"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d331b3b837a209be6ec79a28ca1cd919ee17b11fa2c9a3145c884e56cff2aae","downloaded_from":"2026-09-09T23:16:43.120Z","last_downloaded_at":"2026-09-09T23:16:43.120Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477307","source_sha256":"46a5a8f8f4af10fd0e752151f7ec17a47bb5073f7c73d3d0e2eee40b90d0aa06"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:97497339610934b070ecf94b5c8d563c27041b12f4ed40215268ffbf534838ce","downloaded_from":"2026-09-09T23:16:43.120Z","last_downloaded_at":"2026-09-09T23:16:43.120Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477307","source_sha256":"46a5a8f8f4af10fd0e752151f7ec17a47bb5073f7c73d3d0e2eee40b90d0aa06"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-972-05-1","para":"05-1","html":"
This Subtopic addresses disclosure requirements for common interest realty associations. Subtopic-specific disclosure requirements are included within the respective Subtopics.
","snippet":"This Subtopic addresses disclosure requirements for common interest realty associations. Subtopic-specific disclosure requirements are included within the respective Subtopics.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e432bd1dc9813f9de4c12319d4e9be6ec420ffd037352aa13422e59a8ebcf995","downloaded_from":"2026-09-09T23:16:44.908Z","last_downloaded_at":"2026-09-09T23:16:44.908Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478376","source_sha256":"2345e45aa938150a72e2afa35791b50defafee628509ed2afd5f0bd6628e11db"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f46ded88a9a8f4ecacfabab05411fcb2963622622f867f8171cafdc2c1e30943","downloaded_from":"2026-09-09T23:16:44.908Z","last_downloaded_at":"2026-09-09T23:16:44.908Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478376","source_sha256":"2345e45aa938150a72e2afa35791b50defafee628509ed2afd5f0bd6628e11db"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6da34ac89122837eb934b27da761d59d8ba795198462d8e1d82d488d1db279a7","downloaded_from":"2026-09-09T23:16:44.908Z","last_downloaded_at":"2026-09-09T23:16:44.908Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478376","source_sha256":"2345e45aa938150a72e2afa35791b50defafee628509ed2afd5f0bd6628e11db"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"235-972-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 972-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 972-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:199f78c89af27d5c19aa12a41d9c54399c866319f2388953835d08c76a661649","downloaded_from":"2026-09-09T23:16:46.780Z","last_downloaded_at":"2026-09-09T23:16:46.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478021","source_sha256":"571cd1c56c9deb904ac1869fcce9306a7911bf2ade0050c741ba19ddf2bb35f8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8f4207ca56333b75b7cc8d08e2f45d286f73e27d9e7c51a4add1648fa418898","downloaded_from":"2026-09-09T23:16:46.780Z","last_downloaded_at":"2026-09-09T23:16:46.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478021","source_sha256":"571cd1c56c9deb904ac1869fcce9306a7911bf2ade0050c741ba19ddf2bb35f8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:29d41bb3bfe33e7d78ceda2f669b7a46a71aa5756b7db542a56059c29b795d18","downloaded_from":"2026-09-09T23:16:46.780Z","last_downloaded_at":"2026-09-09T23:16:46.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478021","source_sha256":"571cd1c56c9deb904ac1869fcce9306a7911bf2ade0050c741ba19ddf2bb35f8"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-972-50-1","para":"50-1","html":"
In addition to disclosures required by generally accepted accounting principles (GAAP) for other entities, the notes to a common interest realty association's financial statements shall also include disclosures about all of the following:
  1. a
    The common interest realty association's legal form (corporation or association) and that of the entity for which it provides services (for example, condominium, homeowners association, cooperative), areas it controls, and the number of units. (In place of the number of units, cooperative housing corporations may disclose the number of shares and time-share associations may disclose the number of weeks.)
  2. b
    Services (such as maintenance) and subsidies provided by the developer
  3. c
    The number of units (shares for cooperative housing corporations and weeks for time-share associations) owned by the developer
  4. d
    The proposed use for funds collected in special assessments
  5. e
    Assessments that were used for purposes other than those for which they were designated.
","snippet":"In addition to disclosures required by generally accepted accounting principles (GAAP) for other entities, the notes to a common interest realty association's financial statements shall also include disclosures about all…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d83deeeac93f96efb1242ed86fdac4f8490689e6b439821a0feb176846dc60ec","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0834b28e08fac2ceafeeed6688295eaafce92337e0cd837f2d178379029b9255","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}},{"block":null,"heading":"Future Major Repairs and Replacements","paragraphs":[{"citation":"235-972-50-2","para":"50-2","html":"
A common interest realty association shall disclose information in its notes to financial statements about its funding for future major repairs and replacements. Disclosures about such funding shall include all of the following:
  1. a
    Requirements, if any, in statutes or the common interest realty association's documents (or mortgage or governmental bodies funding requirements, for example, Federal Housing Administration often has such requirements) to accumulate funds for future major repairs and replacements and the common interest realty association's compliance or lack of compliance with them
  2. b
    A description of the common interest realty association's funding policy, if any, and compliance with that policy
  3. c
    A statement that funds, if any, are being accumulated based on estimated future (or current) costs, that actual expenditures may vary from these estimates, and that the variations may be material
  4. d
    Amounts assessed for major repairs and replacements in the current period, if any
  5. e
    A statement indicating whether a study was conducted to estimate the remaining useful lives of common property components and the costs of future major repairs and replacements.
Common interest realty associations that fund future major repairs and replacements by special assessments or borrowings when needs occur shall disclose that information.
","snippet":"A common interest realty association shall disclose information in its notes to financial statements about its funding for future major repairs and replacements. Disclosures about such funding shall include all of the fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a2a6ba95ec281e620a2523756b2612c92c0e26bcab6b31afba71de13ed9754b","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9ad2f98b49f8cccb02a868e4821ee32931b81db9531072c5099be0f4440c20d0","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}},{"block":null,"heading":"Required Supplementary Information","paragraphs":[{"citation":"235-972-50-3","para":"50-3","html":"
Common interest realty associations shall disclose the following as unaudited supplementary information:
  1. a
    Estimates of current or future costs of future major repairs and replacements of all existing components, such as roofs, including estimated amounts required, methods used to determine the costs, the basis for calculations (including assumptions, if any, about interest and inflation rates), sources used, and the dates of studies, made for this purpose, if any. There is no requirement for common interest realty associations to obtain studies prepared by professional engineers. The estimates may be made by the board of directors or estimates obtained from licensed contractors.
  2. b
    A presentation of components to be repaired and replaced, estimates of the remaining useful lives of those components, estimates of current or future replacement costs, and amounts of funds accumulated for each to the extent designated by the board.
","snippet":"Common interest realty associations shall disclose the following as unaudited supplementary information:\n(a) Estimates of current or future costs of future major repairs and replacements of all existing components, such …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e9296d0ce2ba275ba3dbdf8cdba6fbb7570f84dee22604502ea0c5c98550f0b6","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7cdcde71fa16069e6cd8d85a0cc4376d6c05188a1d1b73f8419c21cb83f2d586","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51b5e3d61533117cff3f8497f3b03240ae6e1dbee1d3e0c39c07c71c7f591d8b","downloaded_from":"2026-09-09T23:16:53.919Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478511","source_sha256":"c69c860c832a0a90a94f5ec73b95c47125f2b5425ca87d1deee4f79652cdbf62"}}],"enrichment":{"summary":"This Subtopic sets the note disclosure requirements unique to common interest realty associations (CIRAs) — condominiums, homeowners associations, cooperative housing corporations, and time-share associations. Beyond ordinary GAAP disclosures, a CIRA must describe its legal form and the entity it serves, developer services/subsidies and developer-owned units, the proposed use of special assessment funds, and any assessments used for undesignated purposes (235-972-50-1). It must also disclose its funding for future major repairs and replacements (235-972-50-2) and present cost estimates for those repairs and replacements as unaudited supplementary information (235-972-50-3).","key_points":["Notes must disclose the CIRA's legal form (corporation or association), the form of the entity served (condominium, homeowners association, cooperative), areas it controls, and the number of units — cooperatives may substitute number of shares and time-share associations number of weeks (235-972-50-1(a)).","Disclosure is required of services (such as maintenance) and subsidies provided by the developer and the number of units (shares/weeks) owned by the developer (235-972-50-1(b) through (c)).","The proposed use of funds collected in special assessments, and any assessments used for purposes other than those for which they were designated, must be disclosed (235-972-50-1(d) through (e)).","Funding disclosures for future major repairs and replacements must cover statutory, governing-document, mortgage or governmental accumulation requirements and compliance with them, the funding policy and compliance with it, a statement that funds are accumulated on estimated costs and that actual expenditures may vary materially, amounts assessed in the current period, and whether a study of remaining useful lives and future costs was conducted (235-972-50-2).","A CIRA that funds future major repairs and replacements by special assessments or borrowings when needs occur must disclose that information (235-972-50-2).","Estimates of current or future costs of major repairs and replacements of existing components (e.g., roofs) — including amounts required, methods, basis and assumptions about interest and inflation, sources, and study dates — are disclosed as unaudited supplementary information; no professional engineer's study is required, and estimates may be made by the board or licensed contractors (235-972-50-3(a)).","The supplementary presentation must list components to be repaired and replaced, their estimated remaining useful lives, estimated current or future replacement costs, and funds accumulated for each to the extent designated by the board (235-972-50-3(b))."],"categories":["Disclosure","Industry-specific","Presentation"],"audience_level":"intermediate","student_note":"This is a narrow industry disclosure package: the common trap is treating the replacement-reserve cost estimates as audited note disclosure when 235-972-50-3 makes them unaudited supplementary information, and assuming a professional engineering study is mandatory (it is not).","related_topics":["972-10","972-235","972-605","235-10","972-360"],"key_concepts":["common interest realty association","future major repairs and replacements","special assessments","developer subsidies","funding policy disclosure","unaudited supplementary information","remaining useful lives of common property","designated 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Corrections","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa05c03db9046df280b78930d7b552cfb5a6151e4b488d80bdb2030c0884a208","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:17:32.360Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dafc81293e4a4e326707e2695ccd7037e001e3f0cbce3cd72e59cfba233f5f3a","downloaded_from":"2026-09-09T23:16:43.120Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":141,"summary":"ASC 235 governs the notes to financial statements, centering on the requirement in ASC 235-10-50-1 that any financial statements purporting to present fairly in accordance with GAAP include a description of all significant accounting policies as an integral part of the statements — preferably in a separate summary preceding the notes or as the initial note (235-10-50-6). \"Accounting policies\" are the specific principles and methods management judges most appropriate (235-10-05-3), and disclosure must highlight selections among acceptable alternatives, industry-peculiar methods, and unusual or innovative applications of GAAP (235-10-50-3), without duplicating detail shown elsewhere (235-10-50-5). Several industry subtopics remain: 235-946 (investment companies with multiple classes, master-feeder structures, and funds of funds), 235-972 (common interest realty associations, including unaudited supplementary estimates of future major repairs and replacements), and 932-235 (oil and gas — cost method, capitalized exploratory well costs, and supplementary reserve and standardized measure disclosures for publicly traded entities). The industry overlays for construction contractors (235-910), federal government contractors (235-912), and development stage entities (235-915) are fully superseded, so those entities now rely on the general policy-disclosure requirements of 235-10 together with ASC 606.","concepts":["summary of significant accounting policies","significant accounting policy disclosure","selection among acceptable alternatives","interim financial statement exemption","master-feeder and multiple-class fund disclosures","common interest realty association future major repairs","oil and gas standardized measure and reserve disclosures","superseded industry subtopics"],"categories":["Disclosure","Financial statement presentation","Industry-specific","Presentation"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f1fb977043d2aa53e0995407865ac79232c3ff927af1d9b4630fa1cd4df0fc10","downloaded_from":"2026-09-09T23:14:08.789Z","last_downloaded_at":"2026-09-09T23:16:53.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}