# ASC 450-30-60: Contingencies — Gain Contingencies — 60 Relationships

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/450/30/#60-relationships)

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## ASC 450-30-60: 60 Relationships

[Read section](https://asc.understandingaccounting.org/asc/450/30/#60-relationships)

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#### Balance Sheet

##### [450-30-60-1](https://asc.understandingaccounting.org/asc/450/30/#450-30-60-1)

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For the determination of whether a receivable resulting from the recognition of a [gain contingency](https://asc.understandingaccounting.org/glossary/g/#gain-contingency "An existing condition, situation, or set of circumstances involving uncertainty as to possible gain to an entity that will ultimately be resolved when one or more future events occur or fail to occur.") may be offset against an existing liability, see Section 210-20-45.

#### Income Statement

##### [450-30-60-2](https://asc.understandingaccounting.org/asc/450/30/#450-30-60-2)

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For the presentation of business interruption insurance recoveries in the income statement, see Section 220-30-45.

##### [450-30-60-3](https://asc.understandingaccounting.org/asc/450/30/#450-30-60-3)

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For disclosure of information about business interruption insurance recoveries, see Section 220-30-50.

#### Other Expenses

##### [450-30-60-4](https://asc.understandingaccounting.org/asc/450/30/#450-30-60-4)

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For recognition of insurance recoveries by an entity insured through a purchased retroactive insurance contract (other than for core insurance operations of an insurance entity), see paragraph [720-20-25-3](https://asc.understandingaccounting.org/asc/720/20/#720-20-25-3).

#### Leases

##### [450-30-60-5](https://asc.understandingaccounting.org/asc/450/30/#450-30-60-5)

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For a lessor's accounting for income from [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 [842-30-25-2](https://asc.understandingaccounting.org/asc/842/30/#842-30-25-2) (for [sales-type leases](https://asc.understandingaccounting.org/glossary/s/#sales-type-lease "From the perspective of a lessor, a lease that meets one or more of the criteria in paragraph 842-10-25-2 and is not an operating lease in accordance with paragraph 842-10-25-3A.")), [842-30-25-9](https://asc.understandingaccounting.org/asc/842/30/#842-30-25-9) (for [direct financing leases](https://asc.understandingaccounting.org/glossary/d/#direct-financing-lease "From the perspective of a lessor, a lease that meets none of the criteria in paragraph 842-10-25-2 but meets the criteria in paragraph 842-10-25-3(b)and is not an operating lease in accordance with paragraph 842-10-25-3A.")), and [842-30-25-11](https://asc.understandingaccounting.org/asc/842/30/#842-30-25-11) (for [operating leases](https://asc.understandingaccounting.org/glossary/o/#operating-lease "From the perspective of a lessee, any lease other than a finance lease. From the perspective of a lessor, any lease other than a sales-type lease or a direct financing lease.")).