{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/960/#05-overview-and-background","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":"360","topic_title":"Property, Plant, and Equipment","subtopic":"360-960","subtopic_title":"Plan Accounting—Defined Benefit Pension Plans","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"360-960-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance on accounting for property, plant, and equipment for <a href=\"/glossary/d/#defined-benefit-plan\" class=\"term\" title=\"A defined benefit plan provides participants with a determinable benefit based on a formula provided for in the plan. Defined benefit health and welfare plans—Defined benefit health and welfare plans specify a determinable benefit, which may be in the form of a reimbursement to the covered plan participant or a direct payment to providers or third-party insurers for the cost of specified services. Such plans may also include benefits that are payable as a lump sum, such as death benefits. The level of benefits may be defined or limited based on factors such as age, years of service, and salary. Contributions may be determined by the plan's actuary or be based on premiums, actual claims paid, hours worked, or other factors determined by the plan sponsor. Even when a plan is funded pursuant to agreements that specify a fixed rate of employer contributions (for example, a collectively bargained multiemployer plan), such a plan may nevertheless be a defined benefit health and welfare plan if its substance is to provide a defined benefit. Defined benefit pension plan—A pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age, years of service, or compensation. Any pension plan that is not a defined contribution pension plan is, for purposes of Subtopic 715-30, a defined benefit pension plan. Defined benefit postretirement plan—A plan that defines postretirement benefits in terms of monetary amounts (for example, $100,000 of life insurance) or benefit coverage to be provided (for example, up to $200 per day for hospitalization, or 80 percent of the cost of specified surgical procedures). Any postretirement benefit plan that is not a defined contribution postretirement plan is, for purposes of Subtopic 715-60, a defined benefit postretirement plan. (Specified monetary amounts and benefit coverage are collectively referred to as benefits.)\"><span>defined benefit pension plans</span></a>.</div></div>","snippet":"This Subtopic provides guidance on accounting for property, plant, and equipment for defined benefit pension plans.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfffd9455b0a0d93973562b36dd164f20c72cf48d327a2d40d9a8286ab97e566","downloaded_from":"2026-09-10T00:11:12.214Z","last_downloaded_at":"2026-09-10T00:11:12.214Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479198","source_sha256":"cd2848be938dbb0d5e0eb872ce0c3cc693f8bc1a3b620a713bc807f189245351"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:451063479441d8a9b259b4ca16eb5f485d97ad5e102deed3312ee3e93013e76d","downloaded_from":"2026-09-10T00:11:12.214Z","last_downloaded_at":"2026-09-10T00:11:12.214Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479198","source_sha256":"cd2848be938dbb0d5e0eb872ce0c3cc693f8bc1a3b620a713bc807f189245351"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e92d19ad63c7ed2306725e19802f70e5af0033ddd0efb9201333631824b2196e","downloaded_from":"2026-09-10T00:11:12.214Z","last_downloaded_at":"2026-09-10T00:11:12.214Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479198","source_sha256":"cd2848be938dbb0d5e0eb872ce0c3cc693f8bc1a3b620a713bc807f189245351"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e92d19ad63c7ed2306725e19802f70e5af0033ddd0efb9201333631824b2196e","downloaded_from":"2026-09-10T00:11:12.214Z","last_downloaded_at":"2026-09-10T00:11:12.214Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479198","source_sha256":"cd2848be938dbb0d5e0eb872ce0c3cc693f8bc1a3b620a713bc807f189245351"}}