# ASC 450-20-60: Contingencies — Loss Contingencies — 60 Relationships Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/450/20/#60-relationships) Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:4a07c42590c45cef8fa2c3de1e8ae15bcdc877a9a348b65cfe5f1ca41ce6f7c1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 450-20-60: 60 Relationships [Read section](https://asc.understandingaccounting.org/asc/450/20/#60-relationships) SEC content: no #### Risks and Uncertainties ##### [450-20-60-1](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:5be68fbd352a08166e4e9d52ce7db7dcbae5e5187c659af399a1b8abf227aa67 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For disclosure of certain risks and uncertainties that stem from the nature of an entity's operations and from significant concentrations in certain aspects of an entity's operations, many of which are noninsured or underinsured risks, see Topic 275. #### Receivables ##### [450-20-60-2](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:2ecd9b4a54a60001bfb7af80e1976db47a4f5c60560e94ea366ce7c368082adb Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For [contingencies](https://asc.understandingaccounting.org/glossary/c/#contingency "An existing condition, situation, or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to an entity that will ultimately be resolved when one or more future events occur or fail to occur.") related to the collectibility of receivables, see Subtopic 326-20 on financial instruments measured at amortized cost. ##### [450-20-60-3](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:e5f829e314020a8fc562e1b1d10bf971075c85fe54b50efffc6edff39d6f348c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to the collectibility of a loan portfolio, see Subtopic 326-20. #### Inventory ##### [450-20-60-4](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:a7a42daaddc0e6301c83e21031db9d8addf4f93583c72cebd7c46b32423b5af3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For inventories that are impaired by damage, deterioration, obsolescence, changes in price levels, or other causes, see Section 330-10-35. ##### [450-20-60-5](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:8748c08154130944f71c0bc511aefbff0c35726f5260b7d79bd40302ccaef921 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For losses that are expected to arise from firm, uncancelable, and unhedged commitments for the future purchase of inventory, see Section 330-10-35. #### Liabilities ##### [450-20-60-6](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-6) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:4584c531d799f657e17113dbb76e3b34d2b3865b54008a2e9e45c7a49bdd75cf Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For assessments by state guaranty funds and workers' compensation second-injury funds and other assessments related to insurance activities, including insurance activities of an entity that self-insures, see Subtopic 405-30. #### Asset Retirement and Environmental Obligations ##### [450-20-60-7](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-7) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:a7a4fa96077401f9f2a38d78f25b77a6964cf1fa7bae61d7c881046bb3940ba8 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies associated with the retirement of a tangible long-lived asset that result from the acquisition, construction, or development and/or the normal operation of a long-lived asset, see Subtopic 410-20. ##### [450-20-60-8](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-8) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:28db2593c538bfa4265def32f556591e567a80c36ff47eab80835578e6f9a6be Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to environmental remediation liabilities that arise from the improper operation of a long-lived asset, see Subtopic 410-30. #### Guarantees ##### [450-20-60-9](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-9) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:dbecf6c83102b61c4f4d8a54aba00858ef025c36bf8590de33b4e1a9a40886c9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to product warranties and product defects, see the Product Warranties Subsections of Subtopic 460-10. ##### [450-20-60-10](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-10) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:b6fe9d39b61e0be60ee93ad7e26bb852484d295b03aca22f71e695742049a2d9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to guarantees of indebtedness of others, see Topic 460. ##### [450-20-60-11](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-11) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:9e15aa7502ccd6ea491036970aa32bda634a927d8a14b7c0cc9b7e130c7554d6 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to obligations of commercial banks under financial standby letters of credit, see Topic 460. #### Debt ##### [450-20-60-12](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-12) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:c0f61885b4865de8725f2d249e81f057b193dc545b2aa46a956206404183e44b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingent payments of a troubled debt restructuring, see Section 470-60-35. #### Compensation—Retirement Benefits ##### [450-20-60-13](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-13) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:8e816828fa301675a5d822638ce961e63e88bdcfbe6be27bfb2fe0f4a21ab908 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to withdrawal from a multiemployer plan, see paragraphs [715-80-35-2](https://asc.understandingaccounting.org/asc/715/80/#715-80-35-2) and [715-80-50-2](https://asc.understandingaccounting.org/asc/715/80/#715-80-50-2). #### Other Expenses ##### [450-20-60-14](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-14) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:c2945bea790501c6940c773c14fda4b63fc6575e81df737d157fa97d61513a89 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to an insurance contract or [reinsurance](https://asc.understandingaccounting.org/glossary/r/#reinsurance "A transaction in which a reinsurer (assuming entity), for a consideration (premium), assumes all or part of a risk undertaken originally by another insurer (ceding entity). For indemnity reinsurance, the legal rights of the insured are not affected by the reinsurance transaction and the insurance entity issuing the insurance contract remains liable to the insured for payment of policy benefits. Assumption or novation reinsurance contracts that are legal replacements of one insurer by another extinguish the ceding entity's liability to the policyholder.") contract that does not, despite its form, provide for indemnification of the insured or the ceding company by the insurer or reinsurer against loss or liability, see paragraph [720-20-25-1](https://asc.understandingaccounting.org/asc/720/20/#720-20-25-1). #### Leases ##### [450-20-60-15](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-15) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:e67b6d688049e0a68f70e9178551784ac9103a47f4c4ec735bd174dfc4078976 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For [variable lease payments](https://asc.understandingaccounting.org/glossary/v/#variable-lease-payments "Payments made by a lessee to a lessor for the right to use an underlying asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time."), see paragraphs [842-10-55-1 through 55-2](https://asc.understandingaccounting.org/asc/842/10/#842-10-55-1) . ##### [450-20-60-16](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-16) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:974c94eb0831b1184e83e0a77f57617bd793b73d6910b10b66091ae7a7e30b63 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For the classification effects of a provision in a lease that requires lessee indemnifications for environmental contamination caused by the lessee during its use of the property, see paragraph [842-10-55-15](https://asc.understandingaccounting.org/asc/842/10/#842-10-55-15). #### Transfers and Servicing ##### [450-20-60-17](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-17) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:ec14e12ed06391610023e0369a547026cc20458a2e1dfc3789bea97753674b1b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to agreements to repurchase receivables (or to repurchase the related property) that have been sold or otherwise assigned, see Section 860-10-40. #### Extractive Activities—Mining ##### [450-20-60-18](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-18) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:efcb364f949b36da5202e3241174e07626b773629949c554d75412d627db0978 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies resulting from the Coal Industry Retiree Health Benefit Act of 1992, see Subtopic 930-715. #### Financial Services—Insurance ##### [450-20-60-19](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-19) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:107d45c25e33cebda7d6d87ec7061b6cc9fc79616592b05f2a8263e7abbbab91 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to the risk of loss that is assumed by a property and casualty insurance entity or reinsurance entity when it issues an insurance policy covering risk of loss from catastrophes, see Subtopic 944-40. #### Financial Services—Investment Companies ##### [450-20-60-20](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-20) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:0bb32367427d571392bb57a266a8b6dc75bce4736820c36e3a300b7f678239ef Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to the collectibility of interest receivable, including purchased interest, see paragraph [946-320-35-17 to 35-19](https://asc.understandingaccounting.org/asc/320/946/#320-946-35-17). #### Health Care Entities ##### [450-20-60-21](https://asc.understandingaccounting.org/asc/450/20/#450-20-60-21) Pending content: no Source downloaded (UTC): 2026-09-10T00:27:25.699Z to 2026-09-10T00:27:25.699Z Record version: sha256:8569ac8d20a1d97ee1b169ee63873e866700ee779e5d2841aa3272e02ecbb9f9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For contingencies related to malpractice claims, see Subtopic 954-450.