{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/275/10/#55-implementation-guidance-and-illustrations","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"275","topic_title":"Risks and Uncertainties","subtopic":"275-10","subtopic_title":"Overall","section":{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"275-10-55-1","para":"55-1","html":"
The kinds of disclosures required by this Subtopic are illustrated in this Section. Each consists of a situation in which the disclosure would likely be made or not made and a discussion of how and why the illustrative disclosure complies with the requirements of this Subtopic or why no disclosure is required by this Subtopic. Some of the concentrations described in the Examples may illustrate more than one of the categories of concentrations given in paragraph 275-10-50-18(a) through (d).
","snippet":"The kinds of disclosures required by this Subtopic are illustrated in this Section. Each consists of a situation in which the disclosure would likely be made or not made and a discussion of how and why the illustrative d…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:90837006cac2a3887e352387291ec5fa19db9428759f49438704bedcecdad6e2","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-2","para":"55-2","html":"
This Example illustrates the disclosures required by paragraph 275-10-50-2. Conglomerate, Inc. is a U.S.-based multinational entity. Conglomerate's principal lines of business are automotive products, aerospace products and technologies, textiles, and nonprescription health-care products. The principal markets for Conglomerate's automotive and aerospace products and technologies are European- and Far East-based industrial concerns. Textiles are sold primarily to U.S. clothing manufacturers, while nonprescription health-care products are sold to wholesale and retail distributors worldwide. The operations of Conglomerate in any one country are not significant in relation to its overall operations. The following illustrates disclosure of the nature of operations required by this Subtopic.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-2. Conglomerate, Inc. is a U.S.-based multinational entity. Conglomerate's principal lines of business are automotive products, aerospace products …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9469e5103c873fb0bbf702d4de4912ee5a0bbe374108bed91fefc368bccbac12","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-3","para":"55-3","html":"
This disclosure provides all of the following:
  1. a
    Information necessary for users not familiar with the operations of Conglomerate to identify and consider the broad risks and uncertainties associated with the businesses and markets in which it operates and competes. From the disclosures provided, financial statement users having a general knowledge of business matters should be able to assess that Conglomerate's product lines are subject to different and varied risks. Those financial statement users familiar with the businesses recognize the general risks associated with each of these businesses and their related markets.
  2. b
    Information that facilitates the overall understanding of the financial information presented. This kind of disclosure could provide users with a basis for comparing an entity's financial information with that of competitors or with applicable industry statistics.
  3. c
    Insight into the location of Conglomerate's principal markets, although on a broad scale. Because Conglomerate's markets are so diverse, it likely would not be useful to enumerate the specific locations of the entity's markets. For this reason, the manner in which the information is disclosed in the illustrative disclosure is sufficient to meet the broad objectives of this Subtopic.
","snippet":"This disclosure provides all of the following:\n(a) Information necessary for users not familiar with the operations of Conglomerate to identify and consider the broad risks and uncertainties associated with the businesse…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53392a929047251ba193ffc7a38fe0d40a4ff03db29c05ac5fcbbde282c8dfee","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-3A","para":"55-3A","html":"
This Example illustrates one way to comply with the disclosures required by paragraph 275-10-50-2. NewCompany, Inc. (Company) is a business that has not commenced planned principal operations. The Company is designed to develop and manufacture specialized environmental test equipment for measuring air quality. The Company's first product is a rapid-result test kit to identify certain airborne contaminants in high-risk environments. The Company's activities since inception have consisted principally of acquiring technology patents, raising capital, and performing research and development activities. The following illustrates disclosure required by this Subtopic of the nature of activities for an entity that has not commenced principal operations.
","snippet":"This Example illustrates one way to comply with the disclosures required by paragraph 275-10-50-2. NewCompany, Inc. (Company) is a business that has not commenced planned principal operations. The Company is designed to …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1d1b28f880fbc658a4981828df0307657463c6566d658e0bc94cedd6d6157c5c","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-3B","para":"55-3B","html":"
The disclosure in paragraph 275-10-55-3A provides all of the following:
  1. a
    Information necessary for financial statement users not familiar with the activities of the Company to identify and consider the broad risks and uncertainties associated with businesses that have activities that are similar to those in which the Company is engaged. From the disclosures provided, financial statement users that have a general knowledge of business matters should be able to assess both of the following:
    1. 1
      That the Company's activities are subject to different and varied risks, including the risk that the entity may be affected by the rapidly changing and intensely competitive technology market
    2. 2
      That the Company is dependent on additional capital resources for the continuation and expansion of its business activities.
  2. b
    Information that facilitates the overall understanding of the financial information provided. That kind of disclosure could provide users with a basis for understanding the Company's financial information and comparing that information with similar entities or other relevant statistics.
","snippet":"The disclosure in paragraph 275-10-55-3A provides all of the following:\n(a) Information necessary for financial statement users not familiar with the activities of the Company to identify and consider the broad risks and…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b24da5c762d53dca486f151bd536ad47aaf58eb6742fc7f037efef668b071822","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-4","para":"55-4","html":"
This Example illustrates the disclosures required by paragraphs 275-10-50-2 and 275-10-50-16. Smith Corporation, formerly Smith Munitions Corporation, was founded in 1940. At that time, Smith's principal business was the design and manufacture of artillery ammunition and other explosives. In 1959, commensurate with the evolution of its principal business to the design, engineering, and manufacture of military aircraft for sale to the U.S. government, Smith changed its name to Smith Corporation. Smith has one factory, located in New York. The following illustrates disclosure of the nature of operations required by this Subtopic.
","snippet":"This Example illustrates the disclosures required by paragraphs 275-10-50-2 and 275-10-50-16. Smith Corporation, formerly Smith Munitions Corporation, was founded in 1940. At that time, Smith's principal business was the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:86b04b3098d8f44292771ebd6e9d867b067f68275abaad35d9a10b66e81f3496","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-5","para":"55-5","html":"
This disclosure provides all of the following:
  1. a
    Information needed by users who are not familiar with the operations of Smith Corporation to identify and consider the broad risks and uncertainties faced by all or most entities operating in a specific business or market, which in this case is the defense contracting business. From this disclosure, financial statement users having a general knowledge of business matters should know that Smith's business may be heavily affected by future changes in U.S. defense and foreign policies.
  2. b
    Information that aids in the overall understanding of the other financial information presented. Certain accounting procedures involving estimation may apply only to particular industries or may be relevant in comparing a business entity's financial statements with those of business entities in other industries.
  3. c
    Insight into the location of Smith's principal product markets and information about its current vulnerability due to concentrations. Users would be able to recognize and assess Smith's dependency on sales to the U.S. government (assuming the loss of the government as a customer would result in a near-term severe impact to Smith Corporation).
","snippet":"This disclosure provides all of the following:\n(a) Information needed by users who are not familiar with the operations of Smith Corporation to identify and consider the broad risks and uncertainties faced by all or most…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dd37f122d20676190e1cc1f829a07912ede97948845f50542de4fc509018f1b8","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-6","para":"55-6","html":"
The following illustrates disclosure of the pervasiveness of estimates in the financial statements of all reporting entities as required by paragraph 275-10-50-4.
","snippet":"The following illustrates disclosure of the pervasiveness of estimates in the financial statements of all reporting entities as required by paragraph 275-10-50-4.\nThe preparation of financial statements in conformity wit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c5208f307d710cd08665125ac7626c4d27e874198e435ae1dbc043851f8dfd0c","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-7","para":"55-7","html":"
This disclosure is intended to inform users of the inherent uncertainties in measuring assets and liabilities and related revenues and expenses and contingent assets and liabilities, and that subsequent resolution of some matters could differ significantly from the resolution that is currently expected. Such disclosure alerts users that uncertainties are present in the financial statements of all reporting entities.
","snippet":"This disclosure is intended to inform users of the inherent uncertainties in measuring assets and liabilities and related revenues and expenses and contingent assets and liabilities, and that subsequent resolution of som…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d5ed82a6971a79342306c8cb0129bb3f166b18f4391c0cdf365eb6ad5907fdb0","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-8","para":"55-8","html":"
This Example illustrates the disclosures required by paragraph 275-10-50-16. Hi-Tech Corporation is a manufacturer of electronic equipment in which integrated circuits are an important component. Substantially all of Hi-Tech's customers require that only those vendors that meet quality criteria be used as sources for integrated circuits. Hi-Tech currently buys all of its integrated circuits from one manufacturer in the Far East, and no long-term supply contract exists. There are only a limited number of manufacturers of these particular integrated circuits, and a change of supplier could significantly disrupt the business due to the time it would take to locate and qualify a new vendor. The following illustrates the disclosure required by this Subtopic.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-16. Hi-Tech Corporation is a manufacturer of electronic equipment in which integrated circuits are an important component. Substantially all of Hi-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2234a94cc89862d1dadb1a25834d83408e403b2b983da19137a51f05e058a5f7","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-9","para":"55-9","html":"
Although other sources of supply of this particular kind of integrated circuit are currently available, the limited number of such sources and the time it takes to qualify new vendors makes Hi-Tech currently vulnerable to the risk of a near-term severe impact. Disclosure is required because it is considered at least reasonably possible, based on information known to management before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25), that the events that could cause the severe impact will occur.
","snippet":"Although other sources of supply of this particular kind of integrated circuit are currently available, the limited number of such sources and the time it takes to qualify new vendors makes Hi-Tech currently vulnerable t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a3c1f4aed71b27ea8ef64639e7a7c623923725a5f9d4fff406cd3fdcafced4f","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-10","para":"55-10","html":"
This Example illustrates the disclosures required by paragraph 275-10-50-16. Minnesota Company manufactures various products in which wheat is an important raw material. It currently buys 80 percent of its wheat from one supplier, but numerous alternate sources of supply are readily available on comparable terms.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-16. Minnesota Company manufactures various products in which wheat is an important raw material. It currently buys 80 percent of its wheat from one…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e08db635944eac9dedb44a510100314074e1d0f7aa1bcde0e4a300e2aef8605","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-11","para":"55-11","html":"
No disclosure is required.
","snippet":"No disclosure is required.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8db324e2e8fafa9eba60c1165b510b828580106d7a85a59742850f757589b701","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-12","para":"55-12","html":"
The concentration exists at the date of the financial statements, and an inability to obtain wheat could result in a near-term severe impact. No disclosure is required, however, because numerous alternative suppliers are available and, therefore, it is not considered at least reasonably possible that events that could cause a near-term severe impact will occur.
","snippet":"The concentration exists at the date of the financial statements, and an inability to obtain wheat could result in a near-term severe impact. No disclosure is required, however, because numerous alternative suppliers are…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e2028686227a6a15c065d2116a16fa593d3932129896892f6aeef50978452e0d","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-13","para":"55-13","html":"
This Example illustrates the disclosures required by paragraph 275-10-50-16. Felt Pharmaceutical Company is a national pharmaceutical manufacturer headquartered in Atlanta, Georgia. Felt markets a wide range of pharmaceutical products. One of its better-known name-brand products, a significant source of profits and cash flow, is an antibiotic on which there is a patent that will expire in six months. Competitors are preparing to enter the market with generic alternatives when Felt's patent expires, and the concentration therefore has the potential for a severe impact. The following illustrates the disclosure required by this Subtopic.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-16. Felt Pharmaceutical Company is a national pharmaceutical manufacturer headquartered in Atlanta, Georgia. Felt markets a wide range of pharmaceu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd306ed47546e17a54656a35a787ff287a81fb0a6a904b3bf7ebe43d06d5a881","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-14","para":"55-14","html":"
The disclosure focuses on the nature of the business and on Felt's current vulnerability due to a concentration of its patented products. Disclosure is required because the concentration exists at the date of the financial statements, because the effect on Felt's cash flows and profitability of competitors entering the market when the patent expires could be a severe impact, and because it is considered at least reasonably possible that the events that could cause the severe impact will occur in the near term. Because the risk is evident from the description of the concentration, no further explanation of the risk is necessary.
","snippet":"The disclosure focuses on the nature of the business and on Felt's current vulnerability due to a concentration of its patented products. Disclosure is required because the concentration exists at the date of the financi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7beeb50987585ae50689a6ac0b54bde12b54f74371274da6fb8604e938b3a56","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-15","para":"55-15","html":"
This Example illustrates the disclosures required by paragraph 275-10-50-16. Team Company is a manufacturer of industrial hardware. The contract with the union representing Team's labor force is due to expire in the coming year. Over the past 30 years, Team has, in rare instances, been affected by work stoppages in the course of contract negotiations; the stoppages have always been of short duration, and none has had a significant effect on Team's financial statements. Although management expects that there will initially be some differences between its offer to the union and union demands, based on preliminary discussions with union leaders, management believes it is very unlikely that those differences will result in a protracted conflict.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-16. Team Company is a manufacturer of industrial hardware. The contract with the union representing Team's labor force is due to expire in the comi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ec66939c4f29aa2a22c269fb54f22a2260a2f21f09d4421265a3a9862cff481","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-16","para":"55-16","html":"
No disclosure is required.
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Although the concentration of labor exists at the date of the financial statements and it could result in a severe impact in the near term due to the potential of a protracted work stoppage, no disclosure is required because it is not considered at least reasonably possible in the light of past experience and current conditions that a protracted work stoppage will take place.
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This Example illustrates the disclosures required by paragraph 275-10-50-16. Offshore Productions, Inc., a Delaware corporation, designs and manufactures optical lenses, which it markets throughout the United States. Substantially all of its manufacturing operations are carried out in a single facility, which is located in Switzerland and which is owned by Offshore's subsidiary. Offshore does not carry insurance for risks of loss. Offshore's consolidated balance sheet includes $20 million representing the net assets of those operations. The following illustrates the disclosure required by this Subtopic.
","snippet":"This Example illustrates the disclosures required by paragraph 275-10-50-16. Offshore Productions, Inc., a Delaware corporation, designs and manufactures optical lenses, which it markets throughout the United States. Sub…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f2b6b22051a28e4ad4c2678090647e58b3228a2a4751e8718795b12528a6236","downloaded_from":"2026-09-09T23:22:15.046Z","last_downloaded_at":"2026-09-09T23:22:15.046Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482836","source_sha256":"ba0dd813002088cd2c1344b412b82764963c745da7e341824c92b5859f44cd51"}},{"citation":"275-10-55-19","para":"55-19","html":"
All of Offshore's specialized manufacturing capacity is concentrated in a single facility. As noted in paragraph 275-10-50-18, it is always considered at least reasonably possible that the use of a facility located outside of an entity's home country could be disrupted in the near term. Due to the specialized nature of the assets, it would not be possible to find replacement capacity quickly. Accordingly, loss of the facility could produce a near-term severe impact to Offshore. This disclosure informs financial statement users of that concentration of operations in a particular geographic area and informs them of the risks and uncertainties associated with the concentration. Because the concentration is one of operations located outside of Offshore's home country, the disclosure also sets forth the carrying amount of the net assets, as required by this Subtopic.
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