{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/440/","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.","number":"440","title":"Commitments","area":"Liabilities","group":null,"subtopics":[{"number":"440-10","topic":"440","title":"Overall","area":"Liabilities","paragraphs":45,"summary":"ASC 440-10 is the general \"Commitments\" subtopic: it requires disclosure of certain contractual commitments (unused letters of credit, pledged assets, cumulative preferred dividends in arrears, plant acquisition commitments, obligations to reduce debt, maintain working capital, or restrict dividends) that are not otherwise more explicitly addressed elsewhere in the Codification. Its Unconditional Purchase Obligations Subsections require disclosure of off-balance-sheet take-or-pay and throughput contracts that are noncancelable, were negotiated as part of arranging financing for the supplier's facility, and have a remaining term over one year. The Topic is largely a disclosure standard—recognition of such obligations is governed by other Topics (842, 815, 330).","concepts":["unconditional purchase obligation","take-or-pay contract","throughput contract","unused letters of credit","cumulative preferred dividends in arrears","five-year payment schedule","firm purchase commitment","off-balance-sheet financing"],"categories":["Disclosure","Contingencies and guarantees","Recognition","Leases"],"level":"intermediate","topic_title":"Commitments","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Contract Added Accounting Standards Update No. 2016-02 02/25/2016
Lease Added Accounting Standards Update No. 2016-02 02/25/2016
Lease Payments Added Accounting Standards Update No. 2016-02 02/25/2016
Lessee Added Accounting Standards Update No. 2016-02 02/25/2016
Lessor Added Accounting Standards Update No. 2016-02 02/25/2016
Underlying Asset Added Accounting Standards Update No. 2016-02 02/25/2016
440-10-15-4 Amended Accounting Standards Update No. 2014-09 05/28/2014
440-10-25-1 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-25-2 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-50-1 Amended Accounting Standards Update No. 2023-06 10/09/2023
440-10-50-1 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-50-3 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-55-1 Amended Maintenance Update 2014-20 (PDF) 09/29/2014
440-10-60-4 Superseded Accounting Standards Update No. 2018-07 06/20/2018
440-10-60-5 Superseded Accounting Standards Update No. 2014-09 05/28/2014
440-10-60-12 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-60-13 Amended Accounting Standards Update No. 2016-02 02/25/2016
440-10-60-16 Amended Accounting Standards Update No. 2014-09 05/28/2014
440-10-60-19 Superseded Accounting Standards Update No. 2014-09 05/28/2014
440-10-60-20 Superseded Accounting Standards Update No. 2014-09 05/28/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nContract | Added | Accounting Standards Update No. 2016-02 | 02/25/2016 |\nLease | Added …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:964486cc9823b3df9ba3a9316b78aeac346139dce93d22e836e604ebdedad592","downloaded_from":"2026-09-10T00:25:16.890Z","last_downloaded_at":"2026-09-10T00:25:16.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482569","source_sha256":"c91d6bbc509c408c63840df8fe37363976cbe80e0edcd22dd80c7cb57e28a56a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f07ba312b733b9a76f283309834c68e9a7897dac7e18b6a040368a762dea2976","downloaded_from":"2026-09-10T00:25:16.890Z","last_downloaded_at":"2026-09-10T00:25:16.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482569","source_sha256":"c91d6bbc509c408c63840df8fe37363976cbe80e0edcd22dd80c7cb57e28a56a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:033ced7065561fbf109316b30e475a152f6dbaa84d9469328db79cd0b42ed1c2","downloaded_from":"2026-09-10T00:25:16.890Z","last_downloaded_at":"2026-09-10T00:25:16.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482569","source_sha256":"c91d6bbc509c408c63840df8fe37363976cbe80e0edcd22dd80c7cb57e28a56a"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-10-05-1","para":"05-1","html":"
The Commitments Topic establishes standards of financial accounting and reporting for certain commitments. This Topic contains only the Overall Subtopic. The guidance in this Subtopic is presented in the following two Subsections:
  1. a
    General
  2. b
    Unconditional Purchase Obligations.
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The General Subsections provide guidance for unused letters of credit; preferred stock dividends in arrears; commitments such as those for plant acquisition; and obligations to reduce debts, maintain working capital, or restrict dividends.
","snippet":"The General Subsections provide guidance for unused letters of credit; preferred stock dividends in arrears; commitments such as those for plant acquisition; and obligations to reduce debts, maintain working capital, or …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ef0c6f56140e96643c06ad4cbd2c87086bb3aefdc297ed762b4e23c540de556","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}},{"citation":"440-10-05-3","para":"05-3","html":"
This Topic provides general guidance for commitments, while other Topics include guidance for commitments that relate specifically to those Topics. In addition, commitments that are unique to a particular industry are discussed in the Topic for that industry, generally under the Commitments Subtopic.
","snippet":"This Topic provides general guidance for commitments, while other Topics include guidance for commitments that relate specifically to those Topics. In addition, commitments that are unique to a particular industry are di…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebe24d1259a4c45b7da9b315218c30d329e737b27feaa30debfd13aca8728ada","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7fec5643ef9448ec4a53c8249309523add00f59d7173d073a71231fcd2bd588a","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}},{"block":"Unconditional Purchase Obligations","heading":null,"paragraphs":[{"citation":"440-10-05-4","para":"05-4","html":"
The Unconditional Purchase Obligations Subsections provide guidance for unconditional purchase obligations, including take-or-pay and throughput contracts.
","snippet":"The Unconditional Purchase Obligations Subsections provide guidance for unconditional purchase obligations, including take-or-pay and throughput contracts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf12655c09781c560b3a28a23c5dcd9b34a6176ed6359edc1e15004d5f696897","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e89cdc07f395ff19644405258371b1a528a6c40aa663a540cedf76900127021b","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:979accb3da10d73c068604dc1a980f5a4fa910be612eca66dde837506f3bdda0","downloaded_from":"2026-09-10T00:25:18.964Z","last_downloaded_at":"2026-09-10T00:25:18.964Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482543","source_sha256":"a20db8ba8407820130a70388e01a38eef3ba69ba29ecf0157088bdd1f5a22cce"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"440-10-15-1","para":"15-1","html":"
The General Subsection of the Scope Section of the Overall Subtopic establishes the pervasive scope for the Commitments Topic, with specific exceptions noted in the other Subsections of this Section.
","snippet":"The General Subsection of the Scope Section of the Overall Subtopic establishes the pervasive scope for the Commitments Topic, with specific exceptions noted in the other Subsections of this Section.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6cc61d0fbf3f77d6eb715d39478d892c21c2b60fa5bbe78a6ed9d531f3f80424","downloaded_from":"2026-09-10T00:25:21.962Z","last_downloaded_at":"2026-09-10T00:25:21.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482518","source_sha256":"7f84236121b498e3f19b84c6ac45d26aeb23891386a5012fa7a41952111e2b56"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7866d9d202fcb24b93c98a8d3f07afc0166c6323a9d3e68cc720a511cfb6dc0","downloaded_from":"2026-09-10T00:25:21.962Z","last_downloaded_at":"2026-09-10T00:25:21.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482518","source_sha256":"7f84236121b498e3f19b84c6ac45d26aeb23891386a5012fa7a41952111e2b56"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"440-10-15-2","para":"15-2","html":"
The guidance in the Commitments Topic applies to all entities.
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The Unconditional Purchase Obligations Subsections apply to all entities and all unconditional purchase obligations.
","snippet":"The Unconditional Purchase Obligations Subsections apply to all entities and all unconditional purchase obligations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40ee361f35875be1c2a00d936029849d595eab01a8b7ff22849d0c668d5f353c","downloaded_from":"2026-09-10T00:25:21.962Z","last_downloaded_at":"2026-09-10T00:25:21.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482518","source_sha256":"7f84236121b498e3f19b84c6ac45d26aeb23891386a5012fa7a41952111e2b56"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:506c8c42c1dd6f0c535493ff7ac0e64bacfc26a597c24c6808f2410ca9d1f7ea","downloaded_from":"2026-09-10T00:25:21.962Z","last_downloaded_at":"2026-09-10T00:25:21.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482518","source_sha256":"7f84236121b498e3f19b84c6ac45d26aeb23891386a5012fa7a41952111e2b56"}},{"block":"Unconditional Purchase Obligations","heading":"Transactions","paragraphs":[{"citation":"440-10-15-4","para":"15-4","html":"
The guidance in the Unconditional Purchase Obligations Subsections does not apply to either of the following:
  1. a
    Product financing arrangements, that are within the scope of Section 470-40-15. See paragraph 470-40-05-5 for a discussion of the distinction between a product financing arrangement and an unconditional purchase obligation.
  2. b
    Repurchase agreements that are within the scope of Topic 606, specifically in paragraphs
    606-10-55-66 through 55-78
    .
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Depending on its terms, an unconditional purchase obligation can be subject to the guidance in Topic 842, to the guidance in Topic 815, or to neither.
","snippet":"Depending on its terms, an unconditional purchase obligation can be subject to the guidance in Topic 842, to the guidance in Topic 815, or to neither.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:60d16daac2cc24768a243b217df1a481959ed8919eb6f6d0d4345582a6f420b2","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}},{"citation":"440-10-25-2","para":"25-2","html":"
The guidance in Section 842-10-15 shall be applied first to determine whether an unconditional purchase obligation is within the scope of Topic 842.
","snippet":"The guidance in Section 842-10-15 shall be applied first to determine whether an unconditional purchase obligation is within the scope of Topic 842.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d50b25b31041f4eb38d5a44184acc8860776cd3a52ef03c0a2a3d0909ec79ea8","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}},{"citation":"440-10-25-3","para":"25-3","html":"
The guidance in Section 815-10-15 and paragraph 815-10-55-60 shall be applied to determine whether any portion of the arrangement that is not a lease is subject to Topic 815, and the guidance in Section 815-15-15 shall be applied to determine whether any lease portion of the arrangement contains an embedded derivative that is subject to the guidance in Subtopic 815-15.
","snippet":"The guidance in Section 815-10-15 and paragraph 815-10-55-60 shall be applied to determine whether any portion of the arrangement that is not a lease is subject to Topic 815, and the guidance in Section 815-15-15 shall b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41a824fc66334b80590808495bb78bdcff621de0f53b11914bb3af8272febd03","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}},{"citation":"440-10-25-4","para":"25-4","html":"
Pursuant to paragraphs
330-10-35-17 through 35-18
, accrued net losses on firm purchase commitments for goods for inventory shall be recognized in the accounts.
","snippet":"Pursuant to paragraphs 330-10-35-17 through 35-18, accrued net losses on firm purchase commitments for goods for inventory shall be recognized in the accounts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a1d7befb091e3395af845428c858a0c41f40bdf6017c3e0c9ef27d1c0c19c3cd","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ca0fbeece9f1039e47b8d45bdda9e92400757a53f78ee91ed7950b0962c4873","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae6d6248383262b765deb13fbe3c2600222fda2f1c7d92914d745a5ae244a818","downloaded_from":"2026-09-10T00:25:26.187Z","last_downloaded_at":"2026-09-10T00:25:26.187Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482673","source_sha256":"0410f578c369a4d5737199acee9b8f60bd0976875ebc332642b8a72b45c4f7b7"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-10-50-1","para":"50-1","html":"
Notwithstanding more explicit disclosures required elsewhere in this Codification, all of the following situations shall be disclosed in financial statements:
  1. a
    Unused letters of credit
  2. b
    Leases (see Section 842-20-50)
  3. c
    Assets pledged as security for loans
  4. d
    Pension plans (see Section 715-20-50)
  5. e
    The existence of cumulative preferred stock dividends in arrears
  6. f
    Commitments, including:
    1. 1
      A commitment for plant acquisition
    2. 2
      An obligation to reduce debts
    3. 3
      An obligation to maintain working capital
    4. 4
      An obligation to restrict dividends.
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 Notwithstanding more explicit disclosures required elsewhere in this Codification, all of the following situations shall be disclosed in financial statements:
  1. a
    Unused letters of credit
  2. b
    Leases (see Section 842-20-50)
  3. c
    Assets mortgaged, pledged , or otherwise subject to lien; the approximate amounts of those assets; and the related obligations collateralized
  4. d
    Pension plans (see Section 715-20-50)
  5. e
    The existence of cumulative preferred stock dividends in arrears
  6. f
    Commitments, including:
    1. 1
      A commitment for plant acquisition
    2. 2
      An obligation to reduce debts
    3. 3
      An obligation to maintain working capital
    4. 4
      An obligation to restrict dividends.
","snippet":"Notwithstanding more explicit disclosures required elsewhere in this Codification, all of the following situations shall be disclosed in financial statements:\n(a) Unused letters of credit\n(b) Leases (see Section 842-20-5…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1b3848093a2f25598caf1385f4723c2f9891cde6a98c14b849a965708cc0fb19","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f70a3deec7833036cb979159842772f978c244f31e1f704611faede15fe02e09","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"block":"Unconditional Purchase Obligations","heading":null,"paragraphs":[{"citation":"440-10-50-2","para":"50-2","html":"
An unconditional purchase obligation that has all of the following characteristics shall be disclosed in accordance with paragraph 440-10-50-4 (if not recorded on the purchaser's balance sheet) or in accordance with paragraph 440-10-50-6 (if recorded on the purchaser's balance sheet):
  1. a
    It is noncancelable, or cancelable only in any of the following circumstances:
    1. 1
      Upon the occurrence of some remote contingency
    2. 2
      With the permission of the other party
    3. 3
      If a replacement agreement is signed between the same parties
    4. 4
      Upon payment of a penalty in an amount such that continuation of the agreement appears reasonably assured.
  2. b
    It was negotiated as part of arranging financing for the facilities that will provide the contracted goods or services or for costs related to those goods or services (for example, carrying costs for contracted goods). A purchaser is not required to investigate whether a supplier used an unconditional purchase obligation to help secure financing, if the purchaser would otherwise be unaware of that fact.
  3. c
    It has a remaining term in excess of one year
","snippet":"An unconditional purchase obligation that has all of the following characteristics shall be disclosed in accordance with paragraph 440-10-50-4 (if not recorded on the purchaser's balance sheet) or in accordance with para…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f4123aadd8aaeea1b242b32a03f04b301b1755f398111b387183ef2abdfe5317","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"citation":"440-10-50-3","para":"50-3","html":"
Future lease payments under leases that meet the conditions in paragraph 440-10-50-2 need not be disclosed in accordance with paragraph 440-10-50-4 or paragraph 440-10-50-6 if those future lease payments are disclosed in accordance with Section 842-20-50.
","snippet":"Future lease payments under leases that meet the conditions in paragraph 440-10-50-2 need not be disclosed in accordance with paragraph 440-10-50-4 or paragraph 440-10-50-6 if those future lease payments are disclosed in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ade0ade413837c45a3cd26be8384d48b6b8fcf3ad4b52a85d940f39c429988d","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b59d3f539e916e8cfd151803e2f4b3b2c117e46f7dc2e7af7849eac289d6bcab","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"block":"Unconditional Purchase Obligations","heading":"Unrecognized Commitments","paragraphs":[{"citation":"440-10-50-4","para":"50-4","html":"
A purchaser shall disclose unconditional purchase obligations that meet the criteria of paragraph 440-10-50-2 and that have not been recognized on its balance sheet. Disclosures of similar or related unconditional purchase obligations may be combined. The disclosures shall include all of the following:
  1. a
    The nature and term of the obligation(s)
  2. b
    The amount of the fixed and determinable portion of the obligation(s) as of the date of the latest balance sheet presented, in the aggregate and, if determinable, for each of the five succeeding fiscal years
  3. c
    The nature of any variable components of the obligation(s)
  4. d
    The amounts purchased under the obligation(s) (for example, the take-or-pay or throughput contract) for each period for which an income statement is presented.
The preceding disclosures may be omitted only if the aggregate commitment for all such obligations not disclosed is immaterial.
","snippet":"A purchaser shall disclose unconditional purchase obligations that meet the criteria of paragraph 440-10-50-2 and that have not been recognized on its balance sheet. Disclosures of similar or related unconditional purcha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f4ce6d9749049bc57801f6fe6dc3169f5281a2bc389ce1132aba955faa6e7a67","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"citation":"440-10-50-5","para":"50-5","html":"
Disclosure of the amount of imputed interest necessary to reduce the unconditional purchase obligation(s) to present value is encouraged but not required. The discount rate shall be the effective initial interest rate of the borrowings that financed the facility (or facilities) that will provide the contracted goods or services, if known by the purchaser. If not, the discount rate shall be the purchaser's incremental borrowing rate at the date the obligation is entered into.
","snippet":"Disclosure of the amount of imputed interest necessary to reduce the unconditional purchase obligation(s) to present value is encouraged but not required. The discount rate shall be the effective initial interest rate of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e20fd29de1fe87805f5d8117ac440270d9d0e233b19936034bde41e867290bc","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58f0348787e33b7f43431219a5c4b0aa13048e7a75c771b8801ef05d36afbff5","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"block":"Unconditional Purchase Obligations","heading":"Recognized Commitments","paragraphs":[{"citation":"440-10-50-6","para":"50-6","html":"
A purchaser shall disclose for each of the five years following the date of the latest balance sheet presented the aggregate amount of payments for unconditional purchase obligations that meet the criteria of paragraph 440-10-50-2 and that have been recognized on the purchaser's balance sheet.
","snippet":"A purchaser shall disclose for each of the five years following the date of the latest balance sheet presented the aggregate amount of payments for unconditional purchase obligations that meet the criteria of paragraph 4…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:737e4031ea2f45224e6260a2947a3600e5010a2aadda4172b643bb63462fe132","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"citation":"440-10-50-7","para":"50-7","html":"
Paragraph 815-10-50-6 explains that, if an unconditional purchase obligation is subject to the requirements of both this Subtopic and Subtopic 815-10, the entity shall comply with the disclosure requirements of each Subtopic including paragraph 440-10-50-4.
","snippet":"Paragraph 815-10-50-6 explains that, if an unconditional purchase obligation is subject to the requirements of both this Subtopic and Subtopic 815-10, the entity shall comply with the disclosure requirements of each Subt…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:48c2c7f11a50369ef41461dddf5ba9f6a23a98fad7011659004e9bd5cb9fb1ae","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c33210dc6c0c4c38bda08d5837162c0b6359a76c0152b44277c84f6f1b54ed85","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30280e349dba6120602ac4d4a7c89cdefb4ee4fc1acab117fdcd84f644b52c3d","downloaded_from":"2026-09-10T00:25:28.790Z","last_downloaded_at":"2026-09-10T00:25:28.790Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482648","source_sha256":"c6d67dbcf5ac493eeaf8e862c19ab9469d31cdf7915040cc4f67bbb2d6a4becf"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":"Unconditional Purchase Obligations","heading":"Illustrations","paragraphs":[{"citation":"440-10-55-1","para":"55-1","html":"
This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the disclosure of unconditional purchase obligations.
","snippet":"This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the disclosure of unconditional purchase obligations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:554ae5b05f5c91a2a80ea8d18cbbdce74c12725f3bfa40e808ce9f7e8c372bb5","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}},{"citation":"440-10-55-2","para":"55-2","html":"
This Example illustrates the guidance in paragraphs
440-10-50-4 through 50-5
.
","snippet":"This Example illustrates the guidance in paragraphs 440-10-50-4 through 50-5.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:366fe33452044f9e2216dacfad2525b6c70e3e63e30ff3a55ad5144720495248","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}},{"citation":"440-10-55-3","para":"55-3","html":"
Entity A has entered into a throughput contract with a manufacturing plant providing that Entity A will submit specified quantities of a chemical (representing a portion of plant capacity) for processing through the plant each period while the debt used to finance the plant remains outstanding. Entity A's processing charges are intended to be sufficient to cover a proportional share of fixed and variable operating expenses and debt service of the plant. If, however, the processing charges do not cover such operating expenses and debt service, Entity A must advance additional funds to cover a specified percentage of operating expenses and debt service. Such additional funds are considered advance payments for future throughput.
","snippet":"Entity A has entered into a throughput contract with a manufacturing plant providing that Entity A will submit specified quantities of a chemical (representing a portion of plant capacity) for processing through the plan…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b1df551a365fa14093f05bbe9f14d58c04224a5b4924bca9043436ce551f20a","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}},{"citation":"440-10-55-4","para":"55-4","html":"
Entity A's unconditional obligation to pay a specified percentage of the plant's fixed operating expenses and debt service is fixed and determinable, while the amount of variable operating expenses that Entity A is obligated to pay will vary depending on plant operations and economic conditions.
","snippet":"Entity A's unconditional obligation to pay a specified percentage of the plant's fixed operating expenses and debt service is fixed and determinable, while the amount of variable operating expenses that Entity A is oblig…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dac198b743485f6fd2d1df74ad71962d9cfef9429aeeb5f40d4ee1be35ea144c","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}},{"citation":"440-10-55-5","para":"55-5","html":"
Entity A's disclosure might be as follows.
","snippet":"Entity A's disclosure might be as follows.\nTo secure access to facilities to process chemical X, the entity has signed a processing agreement with a chemical supplier allowing the entity to submit 100,000 tons for proces…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c8e95ac5be59dbd31f9f919d3ede94ebf0191c8e854fbaff4982ed7a8873626a","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b1e26ae31a7ea0b1f2604837cde880965ae16f9d7424d3d8a20321b80e77af0","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aef58dbe7baedef6b4d242921964fed8fb4e963b8a01f73da44080663a746469","downloaded_from":"2026-09-10T00:25:30.951Z","last_downloaded_at":"2026-09-10T00:25:30.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482623","source_sha256":"a0524e46047ce9984a4c15c4003d9a9d84f3f7e36cde6214190272939564bbad"}},{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Receivables","paragraphs":[{"citation":"440-10-60-1","para":"60-1","html":"
For fees received for a commitment to originate or purchase a loan or group of loans, see Subtopic 310-20.
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For guidance on accrual of net losses on firm purchase commitments for goods for inventory, see paragraph 330-10-35-17.
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For postremediation monitoring commitments, see Subtopic 410-30.
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Paragraph superseded by Accounting Standards Update No. 2018-07.
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Paragraph superseded by Accounting Standards Update No. 2014-09.
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For commitments related to pension plans, see Topic 715.
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For commitments to contribute, see Subtopic 720-25.
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For royalty arrangements, purchase provisions, license agreements, and commitments to provide additional funding and other commitments under research and development arrangements, see Subtopic 730-20.
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For designating a derivative instrument as a hedge of the exposure to changes in the fair value of an unrecognized firm commitment, see Subtopic 815-25.
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For loan commitments that relate to the origination of mortgage loans that will be held for sale, see paragraph 815-10-15-71.
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For foreign currency commitments, see paragraph 830-20-35-3.
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For commitments under leases, see Topic 842
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For nuclear fuel leases structured as take-or-pay contracts, see paragraph 842-10-55-1.
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For assets pledged as collateral for secured borrowings, see Subtopic 860-30.
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For fair value of committed and uncommitted mortgage loans and mortgage-backed securities, see Section 948-310-35.
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For recognition of loan and commitment fees, see paragraph 948-310-35-7.
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For commitment fees relating to loans held for sale (residential or commercial loan commitment fees), see paragraph 948-720-25-1.
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For prepaid health care services contracts, see paragraph 954-450-25-4.
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Paragraph superseded by Accounting Standards Update No. 2014-09.
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Paragraph superseded by Accounting Standards Update No. 2014-09.
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Its Unconditional Purchase Obligations Subsections require disclosure of off-balance-sheet take-or-pay and throughput contracts that are noncancelable, were negotiated as part of arranging financing for the supplier's facility, and have a remaining term over one year. The Topic is largely a disclosure standard—recognition of such obligations is governed by other Topics (842, 815, 330).","key_points":["The Topic applies to all entities and provides general commitments guidance, while commitment guidance specific to a Topic or industry resides in that Topic (440-10-05-3, 440-10-15-2).","Unconditional purchase obligations guidance excludes product financing arrangements within Section 470-40-15 and repurchase agreements within Topic 606 paragraphs 606-10-55-66 through 55-78 (440-10-15-4).","Sequence of analysis: apply Section 842-10-15 first to see if the obligation is a lease, then apply Sections 815-10-15 and 815-15-15 (and paragraph 815-10-55-60) to any non-lease or embedded-derivative portion (440-10-25-2 through 25-3); accrued net losses on firm inventory purchase commitments are recognized under 330-10-35-17 through 35-18 (440-10-25-4).","Regardless of more explicit disclosures elsewhere, entities must disclose unused letters of credit, leases, pledged/mortgaged assets, pension plans, cumulative preferred dividends in arrears, and commitments for plant acquisition, debt reduction, working capital maintenance, or dividend restrictions (440-10-50-1).","An unconditional purchase obligation triggers disclosure only if it is (a) noncancelable (or cancelable only on a remote contingency, with the other party's permission, on signing a replacement agreement, or on a penalty making continuation reasonably assured), (b) negotiated as part of arranging financing for the facilities providing the goods or services, and (c) has a remaining term exceeding one year (440-10-50-2).","For unrecognized obligations, disclose the nature and term, the fixed and determinable amount at the latest balance sheet date in aggregate and for each of the five succeeding fiscal years, the nature of variable components, and amounts purchased for each income statement period; omission is allowed only if the aggregate undisclosed commitment is immaterial (440-10-50-4).","If the obligation is recognized on the balance sheet, disclose the aggregate payments for each of the five years following the latest balance sheet date (440-10-50-6); disclosing imputed interest to reduce the obligation to present value is encouraged but not required, using the effective initial rate of the facility financing or, if unknown, the purchaser's incremental borrowing rate (440-10-50-5)."],"categories":["Disclosure","Contingencies and guarantees","Recognition","Leases"],"audience_level":"intermediate","student_note":"This is primarily a disclosure Topic, not a recognition Topic—the classic error is assuming an unconditional purchase obligation must be booked as a liability; instead you test it under Topic 842 first, then Topic 815, and if neither applies you only disclose. Memorize the three-part disclosure trigger in 440-10-50-2, especially the often-overlooked requirement that the obligation was negotiated as part of arranging financing for the supplier's facility.","related_topics":["842","815","330-10","470-40","606","730-20"],"key_concepts":["unconditional purchase obligation","take-or-pay contract","throughput contract","unused letters of credit","cumulative preferred dividends in arrears","five-year payment schedule","firm purchase commitment","off-balance-sheet financing"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fb2b5a8d5b0815a6ade8a90a9d182166fc2751e0302229d86c588e4430b4238","downloaded_from":"2026-09-10T00:25:16.890Z","last_downloaded_at":"2026-09-10T00:25:37.457Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Costs","score":0.7772,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76cdad1b97a98212e23d8b43defc0f0040767155e53bf728dd04a7b41df08467","downloaded_from":"2026-09-09T23:54:15.524Z","last_downloaded_at":"2026-09-09T23:55:04.724Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-20","title":"Offsetting","topic_title":"Balance Sheet","score":0.7734,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ea22f8b922a7ff0d2bb231d005166ebd18c769e02ac53d7cb887d174a094df7","downloaded_from":"2026-09-09T22:59:04.667Z","last_downloaded_at":"2026-09-09T22:59:32.460Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"405-50","title":"Liabilities—Supplier Finance Programs","topic_title":"Liabilities","score":0.7722,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad64f3e9d991b551fdcfdb6316aa962fa48c4baf637b558cd7c04941fc3f0a25","downloaded_from":"2026-09-10T00:15:18.657Z","last_downloaded_at":"2026-09-10T00:15:40.809Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"450-20","title":"Loss Contingencies","topic_title":"Contingencies","score":0.7718,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b5fa65e94aa1d93f26a5e673c1890800df04382694473e90a5fd154b9fa2c63","downloaded_from":"2026-09-10T00:27:01.778Z","last_downloaded_at":"2026-09-10T00:27:44.704Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"275-10","title":"Overall","topic_title":"Risks and 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The single rule is that such executory license commitments must be disclosed in the notes, even though they are not recorded, because the recognition conditions in 920-350-25-2 have not been met.","concepts":["program license agreement","broadcaster","unrecorded commitment","executory contract","license liability recognition conditions","commitment disclosure"],"categories":["Disclosure","Industry-specific","Recognition"],"level":"intermediate","topic_title":"Commitments","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-920-05-1","para":"05-1","html":"
This Subtopic presents the required disclosures by broadcasters for license agreements that have been executed but that do not meet the conditions for recording a liability in the financial statements.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 920-10-15.
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Broadcasters shall disclose commitments for license agreements that have been executed but were not reported because they do not meet the conditions for recording a liability as specified in paragraph 920-350-25-2.
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The single rule is that such executory license commitments must be disclosed in the notes, even though they are not recorded, because the recognition conditions in 920-350-25-2 have not been met.","key_points":["Per 440-920-05-1, the Subtopic addresses only the disclosure of executed broadcast license agreements that fail the conditions for recording a liability.","Per 440-920-50-1, broadcasters shall disclose commitments for license agreements that have been executed but were not reported because they do not meet the recognition conditions in 920-350-25-2.","Recognition of the license asset and corresponding liability is governed elsewhere (920-350-25-2); this Subtopic supplies only the disclosure requirement for the unrecognized commitments.","Per 440-920-15-1, the scope follows the broadcaster scope and scope exceptions in Section 920-10-15."],"categories":["Disclosure","Industry-specific","Recognition"],"audience_level":"intermediate","student_note":"Exam trap: signing a program 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timestamps"}},{"number":"440-928","topic":"440","title":"Entertainment—Music","area":"Liabilities","paragraphs":3,"summary":"This Subtopic sets the disclosure requirement for commitments in the music industry. An entity must disclose commitments to pay artist advances in future years and any guarantees obligating it to pay royalties in the future (440-928-50-1). It contains no recognition or measurement guidance—only disclosure.","concepts":["artist advances","royalty guarantees","future commitments disclosure","music industry","unrecorded commitments"],"categories":["Disclosure","Contingencies and guarantees","Industry-specific"],"level":"intermediate","topic_title":"Commitments","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-928-05-1","para":"05-1","html":"
This Subtopic addresses the disclosure requirements for commitments made by an entity in the music industry to pay artist advances in the future, and for any guarantees obligating the entity to pay royalties in the future.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 928-10-15.
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Commitments for artist advances payable in future years and future royalty guarantees shall be disclosed.
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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
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952-440-05-1 Superseded Maintenance Update 2017-09 (PDF) 05/30/2017
952-440-15-1 Superseded Maintenance Update 2017-09 (PDF) 05/30/2017
952-440-50-1 Superseded Maintenance Update 2017-09 (PDF) 05/30/2017
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Entities","topic_title":"Commitments","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9ea1f2b1ecf53cf30cb4b1e44a8fd238f78f04f53763128446633c5a008a6c0","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:47.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a61d756458f08bd52acf5044b5df88e41be828ac6801019eddb5d5567c8c6639","downloaded_from":"2026-09-10T00:26:07.459Z","last_downloaded_at":"2026-09-10T00:26:21.596Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"440-954","topic":"440","title":"Health Care Entities","area":"Liabilities","paragraphs":25,"summary":"This subtopic governs the commitment of a continuing care retirement community (CCRC) to provide future services and the use of facilities to current residents under continuing-care contracts. The CCRC must recalculate that obligation annually and, if advance fees plus periodic fees are insufficient to cover the cost of future services and facilities, record a liability measured actuarially at the present value of future net cash flows, less deferred revenue (contract liability), plus depreciation of facilities to be charged to those contracts and any unamortized incremental costs of obtaining a contract. Extensive note disclosure about the contracts, liability, discount rate, escrow requirements, and refund policy is required.","concepts":["continuing care retirement community","continuing-care contract","obligation to provide future services and use of facilities","advance fees and periodic fees","refundable advance fees","actuarial assumptions","present value of future net cash flows","deferred revenue (contract liability)"],"categories":["Recognition","Subsequent measurement","Disclosure","Industry-specific"],"level":"intermediate","topic_title":"Commitments","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-954-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Conditional Contribution Added Accounting Standards Update No. 2018-08 06/21/2018
Contract Liability Added Accounting Standards Update No. 2014-09 05/28/2014
Contribution Amended Accounting Standards Update No. 2018-08 06/21/2018
Contribution Amended Accounting Standards Update No. 2010-07 01/28/2010
Donor-Imposed Condition Added Accounting Standards Update No. 2018-08 06/21/2018
Promise to Give Added Accounting Standards Update No. 2018-08 06/21/2018
954-440-05-3 through 05-10
 Added Accounting Standards Update No. 2014-09 05/28/2014
954-440-35-3 Amended Accounting Standards Update No. 2014-09 05/28/2014
954-440-55-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
954-440-55-4 Amended Accounting Standards Update No. 2014-09 05/28/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n|\nConditional Contribution | Added | Accounting Standards Update No. 2018-08 | 06/21/2018 |\nCont…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3587927d30234c84cc764b02eeb0da1ae7a67777e450b4860e620df0ed07480f","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:23.932Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479204","source_sha256":"4a20073daf7362d2a8731f63b3b035941c58d810f59b2fd21dda68f3b9249df9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aaaba190dd9c8c0be39d5bf48a8787a50507a5c0b408014b33f7e7b34bf03de7","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:23.932Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479204","source_sha256":"4a20073daf7362d2a8731f63b3b035941c58d810f59b2fd21dda68f3b9249df9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a1663cb0871ae79eb2d57be1d20b462fd9509b05a8598e65d358fb06f5832adf","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:23.932Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479204","source_sha256":"4a20073daf7362d2a8731f63b3b035941c58d810f59b2fd21dda68f3b9249df9"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"440-954-05-1","para":"05-1","html":"
This Subtopic provides guidance on commitments for health care entities within the scope of this Topic.
","snippet":"This Subtopic provides guidance on commitments for health care entities within the scope of this Topic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1a269bb2ffa94362c14a8ab8f3b3c3001daa05fd50c6a229f264c47ae1eaf99","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d37a78adf04ce8601d4f20e204047907e096c3cdbf79cdf3ca4065b74da0a2e0","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"block":null,"heading":"Continuing Care Retirement Community","paragraphs":[{"citation":"440-954-05-2","para":"05-2","html":"
A continuing care retirement community expects to provide services and the use of facilities to individuals over their remaining lives under continuing-care contract agreements. The nature and extent of such services depend on such variables as the individual's age, health, sex, and economic status upon entering the continuing care retirement community.
","snippet":"A continuing care retirement community expects to provide services and the use of facilities to individuals over their remaining lives under continuing-care contract agreements. The nature and extent of such services dep…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:00df7036be5af2d0d688d73a7da946e707b985f919246f0b04deaa399f6cb9b7","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-3","para":"05-3","html":"
Continuing care retirement community facilities may be independent or they may be affiliated with other health care facilities. They usually provide less intensive care than do hospitals. They generally supply required continuous nursing service or appropriate assistance to residents who have a wide range of medical conditions and needs.
","snippet":"Continuing care retirement community facilities may be independent or they may be affiliated with other health care facilities. They usually provide less intensive care than do hospitals. They generally supply required c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fdaebb3621de54684764d351a54786970aa362ae28812d352fef2235fced0e2","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-4","para":"05-4","html":"
Continuing care retirement communities use the following three basic types of contracts:
  1. a
    An all-inclusive continuing-care contract includes residential facilities, meals, and other amenities. It also provides long-term nursing care for little or no increase in periodic fees, except to cover normal operating costs and inflation.
  2. b
    A modified continuing-care contract also includes residential facilities, meals, and other amenities. However, only a specified amount of long-term nursing care is provided for little or no increase in periodic fees, except to cover normal operating costs and inflation. After the specified amount of nursing care is used, residents pay either a discounted rate or the full per diem rates for required nursing care.
  3. c
    A fee-for-service continuing-care contract includes residential facilities, meals, and other amenities as well as emergency and infirmary nursing care. Access to long-term nursing care is guaranteed, but it may be required at full per diem rates.
","snippet":"Continuing care retirement communities use the following three basic types of contracts:\n(a) An all-inclusive continuing-care contract includes residential facilities, meals, and other amenities. It also provides long-te…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:31140c5956ea1d53747e8fded629a41749e97f0246238d04b40c58bf047bd720","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-5","para":"05-5","html":"
Many continuing-care contracts are similar to annuity contracts. Under those contracts, the continuing care retirement community assumes the risks associated with both of the following:
  1. a
    Estimating the amount of the advance fee and other fees to be paid by a resident
  2. b
    Determining whether such fees will be sufficient to cover the cost of providing a resident's required services and the use of facilities.
For some contracts, residents may share the future costs without limit. The continuing care retirement community has an obligation to provide future services for the length of the contract or the life of the resident. In certain circumstances, this obligation continues regardless of whether advance fees or periodic fees are sufficient to meet the costs of providing services to a resident.
","snippet":"Many continuing-care contracts are similar to annuity contracts. Under those contracts, the continuing care retirement community assumes the risks associated with both of the following:\n(a) Estimating the amount of the a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dbbe6f94725a65c6a16177b149f999df1fe873ca8cdd623cf2f692982d998705","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-6","para":"05-6","html":"
A continuing care retirement community may require several different payment methods for services and the use of facilities. The following are the three most prevalent methods:
  1. a
    Advance fee only. Under this method, a resident pays an advance fee in return for future services and the use of facilities. Such services generally include continuing care retirement community housing-related services (for example, meals, laundry, housekeeping, and social services) and health care. These services usually are provided to the resident for the remainder of his or her life or until the contract is terminated. Additional periodic fees are not paid, regardless of how long a resident lives or if the resident requires more services than anticipated. Generally, the resident receives no ownership interest in the facility.
  2. b
    Advance fee with periodic fees. Under this method, a resident pays an advance fee and periodic fees for services and the use of facilities. Such periodic fees may be fixed, or they may be subject to adjustment for increases in operating costs or inflation or for other economic reasons.
  3. c
    Periodic fees only. Under this method, a resident pays a fee at periodic intervals for services and the use of the facilities provided by the continuing care retirement community. Such fees may be either fixed or adjustable.
","snippet":"A continuing care retirement community may require several different payment methods for services and the use of facilities. The following are the three most prevalent methods:\n(a) Advance fee only. Under this method, a …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0c3c14ae7851d25938199759d226421ad39433119b97abd8f9dfd2e89521090f","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-7","para":"05-7","html":"
An advance fee may be met by transferring a resident's personal assets (which may include rights to future income) or by paying a lump sum of cash to the continuing care retirement community. Advance fees received for future services may be refunded at the occurrence of some future event, such as death, withdrawal from the continuing care retirement community, termination of the contract, or reoccupancy of a residential unit. The amount of the refund generally is based on contractual provisions or statutory requirements.
","snippet":"An advance fee may be met by transferring a resident's personal assets (which may include rights to future income) or by paying a lump sum of cash to the continuing care retirement community. Advance fees received for fu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:31187338dac38bdc614969e8dff8d52bf6d52d8d22fa44c676083ac3f683a6d5","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-8","para":"05-8","html":"
Payment of an advance fee generally is required before a resident acquires a right to reside in an apartment or residential unit for life. A portion of advance fees may be refundable by rescission within a legally set time period or if a certain future event occurs, such as the death or withdrawal of a resident or termination of the contract. Some refunds are paid only if a residential unit is reoccupied.
","snippet":"Payment of an advance fee generally is required before a resident acquires a right to reside in an apartment or residential unit for life. A portion of advance fees may be refundable by rescission within a legally set ti…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7ceb24a4b58f958b21d490925a584bcc9cb1ef3c2fe97ee90d23c279eea1a74","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-9","para":"05-9","html":"
Continuing care retirement community refund policies vary either by region or according to statutory requirements, but generally the amount of the refund is based on provisions specified in a contract. For example, some contracts require a refund of the advance fee, less a reasonable processing fee. Amounts refunded may be based on a fixed amount or percentage, an amount that declines to a fixed amount over time, an amount that declines to zero, or an amount based on the resale amount. Refunds may be contingent on vacating the unit, resale of the unit, or passage of a fixed period of time if the unit is not resold.
","snippet":"Continuing care retirement community refund policies vary either by region or according to statutory requirements, but generally the amount of the refund is based on provisions specified in a contract. For example, some …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5dd23b7fcb46b1a0fc1335b799d0abd649eb4d55dabd0d35a7c70b7f0d24bef1","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"citation":"440-954-05-10","para":"05-10","html":"
Some contracts between a continuing care retirement community and a resident stipulate that all or a portion of the advance fee may be refundable if the contract holder's unit is reoccupied by another person. The source of money for the payment is from the proceeds of the advance fees collected by the continuing care retirement community from the next resident of the reoccupied unit. The terms governing how the proceeds from the next resident are to be paid to the previous resident vary from contract to contract.
","snippet":"Some contracts between a continuing care retirement community and a resident stipulate that all or a portion of the advance fee may be refundable if the contract holder's unit is reoccupied by another person. The source …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8aee1a03a36d97784c7c495ff000f63f2582af87830c0a0f22b6a7255d8090f7","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8aadd83f6c49a9f6442fb7dc27ccdd9c444db421b28fdc5ed8b41dbfdea68206","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfd927955f563ea6cc462e1982491f58ccd7007e630051809dfc732ad986ac20","downloaded_from":"2026-09-10T00:26:26.976Z","last_downloaded_at":"2026-09-10T00:26:26.976Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478908","source_sha256":"797cfffd91dc035842de4cb9cd4bb46a77ec312f5a18f8f85ddfb0524868c60a"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"440-954-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 954-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 954-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2bf61ee2d7bfe208a5144825e9db4e975e623e7e08650544cec6f241df1535f5","downloaded_from":"2026-09-10T00:26:29.565Z","last_downloaded_at":"2026-09-10T00:26:29.565Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477862","source_sha256":"b74dee0255d6a0cee6e994a96bd3f202911d06a2f2059236624a73e0b7512934"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19eb3032a987c27d1ffd1ac164c61016105a9b381da7289cc8e5c730884eee2f","downloaded_from":"2026-09-10T00:26:29.565Z","last_downloaded_at":"2026-09-10T00:26:29.565Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477862","source_sha256":"b74dee0255d6a0cee6e994a96bd3f202911d06a2f2059236624a73e0b7512934"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2f7cf80960b34fe5f98f74343bbdebcc7ff013d3a98702d826c3406586a96e9","downloaded_from":"2026-09-10T00:26:29.565Z","last_downloaded_at":"2026-09-10T00:26:29.565Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477862","source_sha256":"b74dee0255d6a0cee6e994a96bd3f202911d06a2f2059236624a73e0b7512934"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Continuing Care Retirement Community","paragraphs":[{"citation":"440-954-25-1","para":"25-1","html":"
The continuing care retirement community assumes a risk in estimating the cost of future services and the use of facilities. Although many continuing care retirement communities are allowed contractually to increase periodic fees, some contracts may restrict increases in periodic fees and require continuing services without additional compensation.
","snippet":"The continuing care retirement community assumes a risk in estimating the cost of future services and the use of facilities. Although many continuing care retirement communities are allowed contractually to increase peri…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:380e346b1cb10db738645753e975422ab9d5424a73de50ef8a26c7ea0c2473c0","downloaded_from":"2026-09-10T00:26:34.890Z","last_downloaded_at":"2026-09-10T00:26:34.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479082","source_sha256":"847556133673ce491468b147c7459a222c1b6b90ca61bdb9fa11de045565695c"}},{"citation":"440-954-25-2","para":"25-2","html":"
Paragraph 954-440-35-1 requires that the obligation of a continuing care retirement community to provide future services and the use of facilities to current residents be calculated annually to determine whether a liability shall be recognized in the financial statements.
","snippet":"Paragraph 954-440-35-1 requires that the obligation of a continuing care retirement community to provide future services and the use of facilities to current residents be calculated annually to determine whether a liabil…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fd37074dcce43289931d921d86ccdfb559c175eff955cd6498227cbf973513f5","downloaded_from":"2026-09-10T00:26:34.890Z","last_downloaded_at":"2026-09-10T00:26:34.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479082","source_sha256":"847556133673ce491468b147c7459a222c1b6b90ca61bdb9fa11de045565695c"}},{"citation":"440-954-25-3","para":"25-3","html":"
See Example 1 (paragraph 954-440-55-1) for an illustration of this guidance.
","snippet":"See Example 1 (paragraph 954-440-55-1) for an illustration of this guidance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3d8f78f0ebced476539da89888e54e88104f898511fc40e329dbacb31240dfb8","downloaded_from":"2026-09-10T00:26:34.890Z","last_downloaded_at":"2026-09-10T00:26:34.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479082","source_sha256":"847556133673ce491468b147c7459a222c1b6b90ca61bdb9fa11de045565695c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b048a9dac1366ce556c8144990c775feb8fa8cc31708020799d7cc52f22c9506","downloaded_from":"2026-09-10T00:26:34.890Z","last_downloaded_at":"2026-09-10T00:26:34.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479082","source_sha256":"847556133673ce491468b147c7459a222c1b6b90ca61bdb9fa11de045565695c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09cace5207aae20ce964c40472c44ccde0101cfc0e66b3739f7dea5a97597a73","downloaded_from":"2026-09-10T00:26:34.890Z","last_downloaded_at":"2026-09-10T00:26:34.890Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479082","source_sha256":"847556133673ce491468b147c7459a222c1b6b90ca61bdb9fa11de045565695c"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Continuing Care Retirement Community","paragraphs":[{"citation":"440-954-35-1","para":"35-1","html":"
The obligation of a continuing care retirement community to provide future services and the use of facilities to current residents shall be subsequently measured annually in order to determine whether a liability shall be reported in the financial statements.
","snippet":"The obligation of a continuing care retirement community to provide future services and the use of facilities to current residents shall be subsequently measured annually in order to determine whether a liability shall b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24b00007c00883ba1b11aa9971079b30e433e1c8974be73dfa23081ec04c41e3","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}},{"citation":"440-954-35-2","para":"35-2","html":"
If the advance fees and periodic fees charged are insufficient to meet the costs of providing future services and the use of facilities, the continuing care retirement community shall record a liability based on actuarial assumptions (such as mortality and morbidity rates), on estimates of future costs and revenues, and on the specific continuing care retirement community's historical experience and statistical data. The liability is equal to the amount that is expected to be incurred to provide services and the use of facilities to individuals over their remaining lives under continuing care contracts (including resident-care, dietary, health care, facility, interest, depreciation, and amortization costs) in excess of the related anticipated revenues.
","snippet":"If the advance fees and periodic fees charged are insufficient to meet the costs of providing future services and the use of facilities, the continuing care retirement community shall record a liability based on actuaria…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b626dd5b54d6e8e27459b1adeb91d9e1f04be6309d02c053a16c3dc43c771906","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}},{"citation":"440-954-35-3","para":"35-3","html":"
The liability related to continuing-care contracts shall be the present value of future net cash flows, minus the balance of deferred revenue (contract liability) (see Topic 606), plus depreciation of facilities to be charged related to the contracts, plus any unamortized incremental costs of obtaining a contract (see Subtopic 340-40), if applicable. The calculation shall be made by grouping contracts by type, such as all contracts with a limit on annual increases in fees, contracts with unlimited fee increases, and so forth. Cash inflows shall include revenue contractually committed to support the residents and inflows resulting from monthly fees including anticipated increases in accordance with contract terms. This shall include third-party payments, contractually or statutorily committed investment income from services related to continuing care retirement community activities, contributions pledged by donors to support continuing care retirement community activities, and the volume of deferred nonrefundable advance fees. Cash outflows shall be composed of operating expenses, including interest expense and excluding selling, and general and administrative expenses. Anticipated cost increases affecting these operating expenses shall be considered in determining cash outflows. The expected inflation rate as well as other factors shall be considered in determining the discount rate. In calculating the liability, the specific continuing care retirement community's historical experience or statistical data relating to the residents' life spans shall be used. The life spans used shall be the same as those used to recognize revenue. For a new continuing care retirement community, either relevant data of similar communities in the area or relevant national industry statistics may be used if they are deemed to be representative.
","snippet":"The liability related to continuing-care contracts shall be the present value of future net cash flows, minus the balance of deferred revenue (contract liability) (see Topic 606), plus depreciation of facilities to be ch…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da0c142acc037a963a1ed21625a6fc3f6ee1fec9d8c438db536d73b4e9af7d08","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}},{"citation":"440-954-35-4","para":"35-4","html":"
See Example 1 (paragraph 954-440-55-1) for an illustration of this guidance.
","snippet":"See Example 1 (paragraph 954-440-55-1) for an illustration of this guidance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20c735bd0f6423ef372f8d485314ff8410899a404cb44ae75546f87777dfc094","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1d1a8a51dceeedadd77de0bd986e5a414acca0e07c5406f707e78b4dcc10adff","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85dba59cc2206d08bfd99d16423dcf75345994021a071f169d40c6179590b937","downloaded_from":"2026-09-10T00:26:38.957Z","last_downloaded_at":"2026-09-10T00:26:38.957Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477689","source_sha256":"067ddea0b7d427cf15d3008a5d8fb53bcb495bc6c22b6f29eb63745053536cc9"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Continuing Care Retirement Community","paragraphs":[{"citation":"440-954-50-1","para":"50-1","html":"
A continuing care retirement community shall disclose all of the following in its notes to the financial statements for each year presented:
  1. a
    A description of the continuing care retirement community and the nature of the related continuing-care contracts entered into by the continuing care retirement community
  2. b
    The carrying amount of the liability to provide future services and the use of facilities related to continuing-care contracts that is presented at present value in the financial statements (if not separately disclosed in the balance sheet)
  3. c
    The interest rate used to discount that liability to provide future services
  4. d
    The statutory escrow or similar requirements
  5. e
    The refund policy of the continuing care retirement community and the general amount of refund obligation under the existing contracts.
","snippet":"A continuing care retirement community shall disclose all of the following in its notes to the financial statements for each year presented:\n(a) A description of the continuing care retirement community and the nature of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc79f67171d02e8c92b2e1cea33d6c3863d921dde700c95cf9e39ad8bc21b325","downloaded_from":"2026-09-10T00:26:40.780Z","last_downloaded_at":"2026-09-10T00:26:40.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478522","source_sha256":"78faffcd0616075b12077bd398edfc37a31ccd2de3b643c3983bcce1b4d69cd7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03b006e9f03ce8ff34f3fc89e55d9bae1b584573af8cbb0e58db8434ec3bb6f5","downloaded_from":"2026-09-10T00:26:40.780Z","last_downloaded_at":"2026-09-10T00:26:40.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478522","source_sha256":"78faffcd0616075b12077bd398edfc37a31ccd2de3b643c3983bcce1b4d69cd7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27dfe97652fcab789bdad4fe827f17cb7aaa338373f7ae38b7ccc62d02f1f5b5","downloaded_from":"2026-09-10T00:26:40.780Z","last_downloaded_at":"2026-09-10T00:26:40.780Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478522","source_sha256":"78faffcd0616075b12077bd398edfc37a31ccd2de3b643c3983bcce1b4d69cd7"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"440-954-55-1","para":"55-1","html":"
This Example illustrates the guidance in Sections 954-440-25 and 954-440-35. This Example has the following assumptions:
  1. a
    All residents pay a $ 50,000 fee, which is refundable less 2 percent per month for the first 36 months. After that period, none of the fee is refundable. The continuing care retirement community opened on 1/1/X4.
  2. b
    An additional periodic fee of $1,000 is payable monthly with a 5 percent increase annually.
  3. c
    The asset recognized for the incremental cost of obtaining the contract on 12/31/X6 is assumed to be $17,000.
  4. d
    The deferred revenue (contract liability) on 12/31/X6 is assumed to be $27,027.
","snippet":"This Example illustrates the guidance in Sections 954-440-25 and 954-440-35. This Example has the following assumptions:\n(a) All residents pay a $ 50,000 fee, which is refundable less 2 percent per month for the first 36…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df940942e703dfd2b063cde29b9593531fb6ca80e31062856afbe14f6c39213d","downloaded_from":"2026-09-10T00:26:42.942Z","last_downloaded_at":"2026-09-10T00:26:42.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477727","source_sha256":"3222a370a899f82618626b7f9c50d548eeed0f43e023a9059a29210a1aa340fb"}},{"citation":"440-954-55-2","para":"55-2","html":"
The following tables illustrate the present value of net cash flow on 12/31/X6.
","snippet":"The following tables illustrate the present value of net cash flow on 12/31/X6.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:203fd9217ee45386d358e43cf417c6cb5b842673db02d12d2bccbf09a4955c74","downloaded_from":"2026-09-10T00:26:42.942Z","last_downloaded_at":"2026-09-10T00:26:42.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477727","source_sha256":"3222a370a899f82618626b7f9c50d548eeed0f43e023a9059a29210a1aa340fb"}},{"citation":"440-954-55-3","para":"55-3","html":"
The following tables illustrate the depreciation of facilities to be charged to current residents.
","snippet":"The following tables illustrate the depreciation of facilities to be charged to current residents.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:33ec1aebd69290d6d8fad54d25df9af77c45587bd635ab19bc87ba1fa60880af","downloaded_from":"2026-09-10T00:26:42.942Z","last_downloaded_at":"2026-09-10T00:26:42.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477727","source_sha256":"3222a370a899f82618626b7f9c50d548eeed0f43e023a9059a29210a1aa340fb"}},{"citation":"440-954-55-4","para":"55-4","html":"
The following table illustrates the liability for providing future services and the use of facilities to current residents.
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Section not used.
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The CCRC must recalculate that obligation annually and, if advance fees plus periodic fees are insufficient to cover the cost of future services and facilities, record a liability measured actuarially at the present value of future net cash flows, less deferred revenue (contract liability), plus depreciation of facilities to be charged to those contracts and any unamortized incremental costs of obtaining a contract. Extensive note disclosure about the contracts, liability, discount rate, escrow requirements, and refund policy is required.","key_points":["A CCRC's obligation to provide future services and the use of facilities to current residents must be calculated/measured annually to determine whether a liability is reported (440-954-25-2; 440-954-35-1).","A liability is recorded only when advance fees and periodic fees charged are insufficient to meet the costs of providing future services and facilities; it equals expected costs (resident-care, dietary, health care, facility, interest, depreciation, and amortization) over residents' remaining lives in excess of anticipated revenues, based on actuarial assumptions such as mortality and morbidity (440-954-35-2).","Measurement formula: present value of future net cash flows, minus the balance of deferred revenue (contract liability) under Topic 606, plus depreciation of facilities to be charged to the contracts, plus any unamortized incremental costs of obtaining a contract under Subtopic 340-40 (440-954-35-3).","The calculation is made by grouping contracts by type (for example, contracts with limits on annual fee increases versus contracts with unlimited fee increases) (440-954-35-3).","Cash inflows include contractually committed revenue, monthly fees with contractual increases, third-party payments, committed investment income, donor pledges, and deferred nonrefundable advance fees; cash outflows are operating expenses including interest but excluding selling and general and administrative expenses; the expected inflation rate is considered in setting the discount rate, and life spans used must be the same as those used to recognize revenue (440-954-35-3).","Contract types are all-inclusive, modified, and fee-for-service continuing-care contracts, with payment structured as advance fee only, advance fee with periodic fees, or periodic fees only (440-954-05-4; 440-954-05-6).","Required disclosures for each year presented: description of the CCRC and nature of the continuing-care contracts, carrying amount of the present-value liability (if not shown separately on the balance sheet), the discount interest rate, statutory escrow or similar requirements, and the refund policy and general amount of refund obligation (440-954-50-1)."],"categories":["Recognition","Subsequent measurement","Disclosure","Industry-specific"],"audience_level":"intermediate","student_note":"This is the classic CCRC \"future service obligation\" test: it is a loss-recognition style calculation done annually, so no liability appears if fees are adequate. Students often forget that the deferred revenue balance and unamortized contract acquisition costs are backed out of (or added to) the present value computation, and that SG&A is excluded from the cash outflows.","related_topics":["954-440","954-430","606","340-40","954-10"],"key_concepts":["continuing care retirement community","continuing-care contract","obligation to provide future services and use of facilities","advance fees and periodic fees","refundable advance fees","actuarial assumptions","present value of future net cash flows","deferred revenue (contract liability)"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26e2aa0eca463a884a0df22a5b50bfdaa326ec268cf9019d6107f093903d53dd","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:47.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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Obligations","score":0.7353,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c5f871155c0f2b024aa73157100a33b184c31415f3d0b7096ff3b3a3d477578","downloaded_from":"2026-09-10T00:20:40.400Z","last_downloaded_at":"2026-09-10T00:21:17.061Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"944-40","title":"Claim Costs and Liabilities for Future Policy Benefits","topic_title":"Financial Services—Insurance","score":0.7334,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b88be883cfef0a1a9f977097c1a79d738b3a411bf9256222d834ba0644404c2","downloaded_from":"2026-09-10T02:16:26.116Z","last_downloaded_at":"2026-09-10T02:17:13.308Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"405-954","title":"Health Care Entities","topic_title":"Liabilities","score":0.7283,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b6116d9a079cd64b1569d7287eaeca5e82d4c5f404d08209aa6973b26ec2e9c","downloaded_from":"2026-09-10T00:19:21.041Z","last_downloaded_at":"2026-09-10T00:19:37.991Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"715-980","title":"Regulated Operations","topic_title":"Compensation—Retirement Benefits","score":0.7278,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:54be853fbf1683547c6c808792e04e180ab7d11ceb4fcdb234ebe8dd2f4bd188","downloaded_from":"2026-09-10T01:02:48.718Z","last_downloaded_at":"2026-09-10T01:03:11.702Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"715-60","title":"Defined Benefit Plans—Other Postretirement","topic_title":"Compensation—Retirement Benefits","score":0.7124,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:375c7ad4192ce255f048438d0cf8f7debd6718db596373367f1eab2b3ccafb5b","downloaded_from":"2026-09-10T01:00:25.988Z","last_downloaded_at":"2026-09-10T01:00:54.564Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"440-952","title":"Franchisors","topic_title":"Commitments","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e51ebbe231055a5be847db83f50a7867f3ea52584c3b94f2436494dc231ee706","downloaded_from":"2026-09-10T00:26:07.459Z","last_downloaded_at":"2026-09-10T00:26:21.596Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"450-10","title":"Overall","topic_title":"Contingencies","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:718fd25cc3cc94d19765f9c7cafde62f95632d802beb9c16f61a280972d43bff","downloaded_from":"2026-09-10T00:26:49.502Z","last_downloaded_at":"2026-09-10T00:26:58.831Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:937150cd0ac9d61088da6574e7a701ee6e294abc3b95f589b66a85d35364c4bf","downloaded_from":"2026-09-10T00:26:23.932Z","last_downloaded_at":"2026-09-10T00:26:47.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":80,"summary":"ASC 440 is primarily a disclosure Topic: it tells entities what contractual commitments must be described in the notes even when nothing is recorded on the balance sheet. The general Subtopic, 440-10, requires disclosure of items such as unused letters of credit, pledged assets, cumulative preferred dividends in arrears, plant acquisition and debt-reduction/working-capital/dividend-restriction commitments (440-10-50-1), plus off-balance-sheet unconditional purchase obligations (take-or-pay and throughput contracts) that are noncancelable, were negotiated to help finance the supplier's facility, and run more than a year (440-10-50-2 through 50-6); recognition itself is left to Topics 842, 815, and 330 (440-10-25-2 through 25-4). Industry Subtopics add narrow disclosure rules — music artist advances and royalty guarantees (440-928-50-1) and executed but unrecognized broadcast license agreements (440-920-50-1) — while 440-952 (franchisors) is entirely superseded. The one Subtopic with real measurement content is 440-954, which requires a CCRC to remeasure annually and accrue a liability for the obligation to provide future services and use of facilities when fees are insufficient, measured at the present value of future net cash flows less deferred revenue plus facility depreciation and unamortized costs of obtaining a contract (440-954-35-2 through 35-3).","concepts":["unconditional purchase obligations","take-or-pay and throughput contracts","off-balance-sheet commitment disclosure","unused letters of credit and pledged assets","obligation to provide future services and use of facilities (ccrc)","present value of future net cash flows","executed but unrecognized broadcast license agreements","artist advances and royalty guarantees"],"categories":["Disclosure","Contingencies and guarantees","Industry-specific","Recognition"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38ac046ca85870a4f68dad846d8366fce2aec1f44b30f350047a40daf75ab239","downloaded_from":"2026-09-10T00:25:16.890Z","last_downloaded_at":"2026-09-10T00:26:47.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}