# ASC 360-965: Property, Plant, and Equipment — Plan Accounting—Health and Welfare Benefit Plans Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/360/965/) 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): 2026-09-10T00:11:37.708Z to 2026-09-10T00:11:48.609Z Record version: sha256:5d3e420f216177bcc9aa31104ad98d9dbea7f7cca7f360ea983861e4b7fc438d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-965: Property, Plant, and Equipment — Plan Accounting—Health and Welfare Benefit Plans ### Machine-generated study aids ```json { "summary": "This subtopic tells health and welfare benefit plans how to measure property, plant, and equipment on the plan's financial statements. Assets used in plan operations (buildings, equipment, furniture and fixtures, leasehold improvements) are carried at cost less accumulated depreciation or amortization, while real estate and other holdings held as plan investments are reported at fair value less costs to sell, if significant, as of the financial statement date.", "key_points": [ "Plan assets used in plan operations are reported at cost less accumulated depreciation or amortization (360-965-35-1).", "Assets used in operations may include buildings, equipment, furniture and fixtures, and leasehold improvements (360-965-35-1(a)-(d)).", "Plan investments in real estate or other investments (excluding insurance contracts) are reported at fair value less costs to sell, if significant, at the financial statement date (360-965-35-2).", "Accounting for other investments, particularly investment and insurance contracts, is addressed in Subtopic 965-325 (360-965-35-3).", "The scope of this Subtopic follows Section 965-10-15, the Overall Subtopic's scope and scope exceptions (360-965-15-1)." ], "categories": [ "Subsequent measurement", "Inventory and PP&E", "Fair value", "Compensation and benefits" ], "audience_level": "intermediate", "student_note": "The exam trap is the split measurement model: the same asset class (e.g., a building) is carried at depreciated cost if the plan uses it to run operations, but at fair value less costs to sell if the plan holds it as an investment. Ask what the asset is used for, not what it is.", "related_topics": [ "965-10", "965-325", "965-360", "360-10", "820", "960" ], "key_concepts": [ "health and welfare benefit plan", "assets used in plan operations", "cost less accumulated depreciation", "plan investments", "fair value less costs to sell", "real estate investments", "insurance contracts", "leasehold improvements" ] } ``` Source downloaded (UTC): 2026-09-10T00:11:37.708Z to 2026-09-10T00:11:37.708Z Record version: sha256:0e0ad6b65eac84a4703357eb0c4b56a79000753ce54e069c7cb0bb3b4489751f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-965-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/360/965/#00-status) SEC content: no ##### [360-965-00-1](https://asc.understandingaccounting.org/asc/360/965/#360-965-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:37.708Z to 2026-09-10T00:11:37.708Z Record version: sha256:b0c9eb935a2507d64371848f3843aee91f35ad71e8f4c74321de1e4e7becff99 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
Fair Value (2nd def.)SupersededAccounting Standards Update No. 2012-0410/01/2012
Fair ValueAddedAccounting Standards Update No. 2012-0410/01/2012
Plan Assets (1st def.)AmendedAccounting Standards Update No. 2016-1912/14/2016
Plan Assets (1st def.)AddedAccounting Standards Update No. 2014-0603/14/2014
965-360-35-1AmendedAccounting Standards Update No. 2014-0603/14/2014
965-360-35-2AmendedAccounting Standards Update No. 2012-0410/01/2012
Source downloaded (UTC): 2026-09-10T00:11:41.081Z to 2026-09-10T00:11:41.081Z Record version: sha256:3415fcb34dc35185c59c9322f80a1e807cdd0decd8f0fdefb545841a355701c0 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-965-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/360/965/#05-overview-and-background) SEC content: no ##### [360-965-05-1](https://asc.understandingaccounting.org/asc/360/965/#360-965-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:41.081Z to 2026-09-10T00:11:41.081Z Record version: sha256:a392010ed4c5c75f45768b227453f9a333d3a561b99cfb69c8780b414de90aaa Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic provides guidance on property, plant, and equipment for [health and welfare benefit plans](https://asc.understandingaccounting.org/glossary/h/#health-and-welfare-benefit-plans "Health and welfare benefit plans include plans that provide the following: Any of the following benefits: Medical, dental, visual, psychiatric, or long-term health care Life insurance (offered separately from a pension plan) Certain severance benefits Accidental death or dismemberment benefits. Benefits for unemployment, disability, vacations, or holidays Other benefits such as apprenticeships, tuition assistance, day care, dependent care, housing subsidies, or legal services."). Source downloaded (UTC): 2026-09-10T00:11:44.478Z to 2026-09-10T00:11:44.478Z Record version: sha256:478365a4f76c20bf1355b350f1caf198b2769145c115b831ca29599b7291915d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-965-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/360/965/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [360-965-15-1](https://asc.understandingaccounting.org/asc/360/965/#360-965-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:44.478Z to 2026-09-10T00:11:44.478Z Record version: sha256:5aaba81b34123339b8e94f94ff165dfcddf9c0e7a2230d42c885a382170f47bc 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 965-10-15. Source downloaded (UTC): 2026-09-10T00:11:48.609Z to 2026-09-10T00:11:48.609Z Record version: sha256:231f0fef8b0bcd035b9fff1bd84e288bd78ba5d0a029315bb9647ee5c09f8f3d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-965-35: 35 Subsequent Measurement [Read section](https://asc.understandingaccounting.org/asc/360/965/#35-subsequent-measurement) SEC content: no ##### [360-965-35-1](https://asc.understandingaccounting.org/asc/360/965/#360-965-35-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:48.609Z to 2026-09-10T00:11:48.609Z Record version: sha256:4286d39f5eee48e6b2851151579ddb49e4dfc6093af3701246bc0ee235c2eba7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Plan assets](https://asc.understandingaccounting.org/glossary/p/#plan-assets "Assets—usually stocks, bonds, and other investments (except certain insurance contracts as noted in paragraph 715-60-35-109)—that have been segregated and restricted (usually in a trust) to be used for a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). The amount of plan assets includes amounts contributed by the employer, and by plan participants for a contributory plan, and amounts earned from investing the contributions, less benefits, income taxes, and other expenses incurred. Plan assets ordinarily cannot be withdrawn by the employer except under certain circumstances when a plan has assets in excess of obligations and the employer has taken certain steps to satisfy existing obligations. Securities of the employer held by the plan are includable in plan assets provided they are transferable. Assets not segregated in a trust, or otherwise effectively restricted, so that they cannot be used by the employer for other purposes are not plan assets, even though the employer may intend that those assets be used to provide health and welfare benefits, which may include postretirement benefits. Those assets shall be accounted for in the same manner as other employer assets of a similar nature and with similar restrictions. If a plan has liabilities other than for benefits, those nonbenefit obligations are considered as reductions of plan assets. Amounts accrued by the employer but not yet paid to the plan are not plan assets. If a trust arrangement explicitly provides that segregated assets are available to satisfy claims of creditors in bankruptcy, such a provision would effectively permit those assets to be used for other purposes at the discretion of the employer. It is not necessary to determine that a trust is bankruptcy-proof for the assets of the trust to qualify as plan assets. However, assets held in a trust that explicitly provides that such assets are available to the general creditors of the employer in the event of the employer's bankruptcy would not qualify as plan assets.") used in plan operations shall be reported at cost less accumulated depreciation or amortization and may consist of any of the following: 1. a Buildings 2. b Equipment 3. c Furniture and fixtures 4. d Leasehold improvements. ##### [360-965-35-2](https://asc.understandingaccounting.org/asc/360/965/#360-965-35-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:48.609Z to 2026-09-10T00:11:48.609Z Record version: sha256:18fb787f577bcc2c74df1e895beb3438350067243830807cb1d6b9280955b072 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Plan investments in the form of real estate or other investments (excluding insurance contracts), shall be reported at their [fair value](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.") less costs to sell, if significant, at the financial statement date. ##### [360-965-35-3](https://asc.understandingaccounting.org/asc/360/965/#360-965-35-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:11:48.609Z to 2026-09-10T00:11:48.609Z Record version: sha256:5e3068ec2d7c9492aa01880c5a94fde430f758f9bb0fb1b7ae328e60841a838d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Subtopic 965-325 for guidance on accounting for other investments, in particular investment and insurance contracts, of [health and welfare benefit plans](https://asc.understandingaccounting.org/glossary/h/#health-and-welfare-benefit-plans "Health and welfare benefit plans include plans that provide the following: Any of the following benefits: Medical, dental, visual, psychiatric, or long-term health care Life insurance (offered separately from a pension plan) Certain severance benefits Accidental death or dismemberment benefits. Benefits for unemployment, disability, vacations, or holidays Other benefits such as apprenticeships, tuition assistance, day care, dependent care, housing subsidies, or legal services.").