# ASC 360-944-35: Property, Plant, and Equipment — Financial Services—Insurance — 35 Subsequent Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/360/944/#35-subsequent-measurement)

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## ASC 360-944-35: 35 Subsequent Measurement

[Read section](https://asc.understandingaccounting.org/asc/360/944/#35-subsequent-measurement)

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#### Real Estate Acquired in Settling Certain Claims

##### [360-944-35-1](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-1)

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In accordance with paragraph [360-10-35-43](https://asc.understandingaccounting.org/asc/360/10/#360-10-35-43), real estate classified as held for sale that was acquired in settling mortgage guaranty and title insurance claims shall be subsequently measured in accordance with the guidance on property, plant, and equipment in Section 360-10-35.

##### [360-944-35-2](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-2)

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Paragraph [944-40-35-4](https://asc.understandingaccounting.org/asc/944/40/#944-40-35-4) requires that subsequent reductions in the reported amount of real estate acquired in settling claims be recognized as an adjustment to [claim](https://asc.understandingaccounting.org/glossary/c/#claim "A demand for payment of a policy benefit because of the occurrence of an insured event.") costs incurred.

#### Potential Ownership Interest in Real Estate

##### [360-944-35-3](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-3)

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For guidance related to estimated recoveries on unsettled claims involving a potential ownership interest in real estate, see paragraph [944-40-35-2](https://asc.understandingaccounting.org/asc/944/40/#944-40-35-2).

#### Real Estate Investments

##### [360-944-35-4](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-4)

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Real estate investments shall be measured subsequently at cost less accumulated depreciation.

##### [360-944-35-5](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-5)

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Depreciation and other related charges or credits shall be charged or credited to investment income.

##### [360-944-35-6](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-6)

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Reductions in the [carrying amount](https://asc.understandingaccounting.org/glossary/c/#carrying-amount "The amount of an item as displayed in the financial statements.") of real estate investments resulting from the application of the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic 360-10 shall be included in realized gains and losses.

#### Real Estate Used in the Business

##### [360-944-35-7](https://asc.understandingaccounting.org/asc/360/944/#360-944-35-7)

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Imputed investment income and rental expense shall not be recognized for real estate used in the business.