# ASC 360-942: Property, Plant, and Equipment — Financial Services—Depository and Lending Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/360/942/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T00:09:35.986Z to 2026-09-10T00:09:48.609Z Record version: sha256:63c645a1d32f012865b412488e370065080df85ac1064d7e1e5bec66c508332e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942: Property, Plant, and Equipment — Financial Services—Depository and Lending ### Machine-generated study aids ```json { "summary": "This Subtopic addresses how depository and lending institutions (banks, savings institutions, credit unions) present property, plant, and equipment in their financial statements. Premises and equipment are generally reported as a single balance sheet caption, net of accumulated depreciation and amortization, with the accumulated amount shown on the face of the balance sheet or in the notes. Net gains or losses on disposition of premises and equipment go into noninterest income or noninterest expense rather than a separate line.", "key_points": [ "Premises and equipment are generally shown as a single caption on the balance sheet, net of accumulated depreciation and amortization (360-942-45-1).", "The amount of accumulated depreciation and amortization must be presented either on the face of the balance sheet or disclosed in the notes (360-942-45-1; 360-942-50-1).", "Net gains or net losses on dispositions of premises and equipment are included in noninterest income or noninterest expense (360-942-45-2).", "The Subtopic addresses only financial statement presentation of financial institution property, plant, and equipment (360-942-05-1).", "Scope follows the Overall Subtopic scope for depository and lending institutions in Section 942-10-15 (360-942-15-1)." ], "categories": [ "Presentation", "Disclosure", "Inventory and PP&E", "Industry-specific" ], "audience_level": "intermediate", "student_note": "This is a short, presentation-only Subtopic: recognition, measurement, depreciation, and impairment of bank premises still follow ASC 360-10. The common trap is forgetting that disposal gains/losses for a bank land in noninterest income or expense, not in a separate \"gain on sale\" line or in interest income.", "related_topics": [ "360-10", "942-360", "942-10", "942-405", "205" ], "key_concepts": [ "premises and equipment", "accumulated depreciation and amortization", "single balance sheet caption", "noninterest income", "noninterest expense", "disposition gains and losses", "depository and lending institutions" ] } ``` Source downloaded (UTC): 2026-09-10T00:09:35.986Z to 2026-09-10T00:09:35.986Z Record version: sha256:f8334d5ebef191735aff7fdb89294b0ee3174ca61fdefa2d2f8532b430a865d4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/360/942/#00-status) SEC content: no ##### [360-942-00-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:35.986Z to 2026-09-10T00:09:35.986Z Record version: sha256:dbfb9f0ae1a37b2ec977ff88397729c2328b2e559680be05b83cf3a865b84668 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
942-360-45-1AmendedAccounting Standards Update No. 2020-1010/29/2020
942-360-50-1AddedAccounting Standards Update No. 2020-1010/29/2020
Source downloaded (UTC): 2026-09-10T00:09:37.712Z to 2026-09-10T00:09:37.712Z Record version: sha256:d7e40472cbbab5aa3f3aad7d7461f878d8a9eea7d917f02b2204060946a97025 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/360/942/#05-overview-and-background) SEC content: no ##### [360-942-05-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:37.712Z to 2026-09-10T00:09:37.712Z Record version: sha256:cae25c02b4e389626e3f386d626244b081142fda9296c35aac085f6f85f2b68b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic provides guidance concerning the financial statement presentation of financial institution property, plant, and equipment. Source downloaded (UTC): 2026-09-10T00:09:40.699Z to 2026-09-10T00:09:40.699Z Record version: sha256:370406c79b7e14083dab8d44d004b461d13651aabe5dbbed0d1419bad1434a0a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/360/942/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [360-942-15-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:40.699Z to 2026-09-10T00:09:40.699Z Record version: sha256:63d925a4446abf2cc48b548442818bb3f00a2c96def7d53db41d6859b139760b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 942-10-15. Source downloaded (UTC): 2026-09-10T00:09:42.843Z to 2026-09-10T00:09:42.843Z Record version: sha256:5c06d58fe07817c4a0f974748e23281c9e8846214e5b7de7a7944b8168666a6b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/360/942/#45-other-presentation-matters) SEC content: no #### Premises and Equipment ##### [360-942-45-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-45-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:42.843Z to 2026-09-10T00:09:42.843Z Record version: sha256:987379af89509b8733a500ade40a17489d0273d89d509482d29cd82909089084 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Premises and equipment are generally shown as a single caption on the balance sheet, net of accumulated depreciation and amortization, the amount of which shall be presented on the face of the balance sheet or disclosed in the notes to financial statements. (See paragraph [942-360-50-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-50-1).) ##### [360-942-45-2](https://asc.understandingaccounting.org/asc/360/942/#360-942-45-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:42.843Z to 2026-09-10T00:09:42.843Z Record version: sha256:415453d9ae81cb2b23e93a302385314639b28900872ca0e01daa26d7eaeaf62b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For premises and equipment, net gains or net losses on dispositions shall be included in noninterest income or noninterest expense. Source downloaded (UTC): 2026-09-10T00:09:46.815Z to 2026-09-10T00:09:46.815Z Record version: sha256:1376106d9ebca256fe3c42bc200f11be699c1effe8ac0b9c06f4213748b9ffaa Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-942-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/360/942/#50-disclosure) SEC content: no ##### [360-942-50-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-50-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:09:46.815Z to 2026-09-10T00:09:46.815Z Record version: sha256:1f94af7b1412b0c7606383261f7fe3bc4cd59cace7c16c88014f4e8f856ab3c9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Premises and equipment are generally shown as a single caption on the balance sheet, net of accumulated depreciation and amortization, the amount of which shall be presented on the face of the balance sheet or disclosed in the notes to financial statements. (See paragraph [942-360-45-1](https://asc.understandingaccounting.org/asc/360/942/#360-942-45-1).)