{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/10/","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":"470-10","topic":"470","title":"Overall","area":"Liabilities","paragraphs":114,"summary":"ASC 470-10 is the Overall subtopic of the Debt topic and governs a borrower's balance sheet classification (current vs. noncurrent) of specific obligations: short-term obligations expected to be refinanced, due-on-demand loans, callable debt and covenant violations, revolving credit agreements with lock-box arrangements and subjective acceleration clauses, increasing-rate debt, sales of future revenue, and indexed debt. Core rules: callable and demand obligations are current unless a waiver/cure exception applies (470-10-45-10 through 45-11), and a short-term obligation may be excluded from current liabilities only if the entity intends to refinance long term and demonstrates ability via post-balance-sheet issuance of long-term debt/equity or a qualifying financing agreement (470-10-45-14). It also sets debt-versus-deferred-income classification for proceeds from sales of future revenue and disclosure requirements for maturities, unused lines of credit, and refinancings.","concepts":["current versus noncurrent classification","short-term obligations expected to be refinanced","subjective acceleration clause","lock-box arrangement","debt covenant violation and waiver","callable debt","sales of future revenue","increasing-rate debt"],"categories":["Presentation","Debt and equity","Disclosure","Financial statement presentation"],"level":"intermediate","topic_title":"Debt","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
ContractAddedAccounting Standards Update No. 2016-0202/25/2016
LeaseAddedAccounting Standards Update No. 2016-0202/25/2016
Not-for-Profit EntityAddedAccounting Standards Update No. 2023-0610/09/2023
Operating CycleAddedAccounting Standards Update No. 2012-0410/01/2012
Public Business EntityAddedAccounting Standards Update No. 2023-0610/09/2023
SecurityAddedAccounting Standards Update No. 2023-0610/09/2023
470-10-05-5AmendedAccounting Standards Update No. 2012-0410/01/2012
470-10-15-1AmendedAccounting Standards Update No. 2023-0610/09/2023
470-10-25-3AddedAccounting Standards Update No. 2012-0410/01/2012
470-10-25-4AddedAccounting Standards Update No. 2012-0410/01/2012
470-10-35-4AddedAccounting Standards Update No. 2012-0410/01/2012
470-10-45-10AmendedAccounting Standards Update No. 2012-0410/01/2012
470-10-45-14AmendedAccounting Standards Update No. 2012-0410/01/2012
470-10-45-19AmendedAccounting Standards Update No. 2012-0410/01/2012
470-10-45-21AmendedAccounting Standards Update No. 2012-0410/01/2012
470-10-50-1AmendedAccounting Standards Update No. 2020-0608/05/2020
470-10-50-6AddedAccounting Standards Update No. 2023-0610/09/2023
470-10-50-7AddedAccounting Standards Update No. 2023-0610/09/2023
470-10-55-11AmendedAccounting Standards Update No. 2020-0608/05/2020
470-10-55-12AmendedAccounting Standards Update No. 2020-0608/05/2020
470-10-55-18AmendedMaintenance Update 2016-11 (PDF)06/27/2016
470-10-60-2SupersededAccounting Standards Update No. 2020-0608/05/2020
470-10-60-4AmendedAccounting Standards Update No. 2016-0202/25/2016
","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:a4d5f4bae14b0e68725d1b1039ac76bed02fb4dd681e68d7207fc7c3c3772cbe","downloaded_from":"2026-09-10T00:30:14.064Z","last_downloaded_at":"2026-09-10T00:30:14.064Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481292","source_sha256":"19fc6304e786286c5362ffed5b2dba9f31ad8686d4cc38bc9f7ead61b01cbad2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21a0cd9587aa149f297ea7100cf444bb77eee1f592cc34be39eb26c284a8c1a3","downloaded_from":"2026-09-10T00:30:14.064Z","last_downloaded_at":"2026-09-10T00:30:14.064Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481292","source_sha256":"19fc6304e786286c5362ffed5b2dba9f31ad8686d4cc38bc9f7ead61b01cbad2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e08ea693d20dbbf7542b1adc379921ed5bab8035e4055f2f16836fe5a9ac2ff","downloaded_from":"2026-09-10T00:30:14.064Z","last_downloaded_at":"2026-09-10T00:30:14.064Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481292","source_sha256":"19fc6304e786286c5362ffed5b2dba9f31ad8686d4cc38bc9f7ead61b01cbad2"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-10-05-1","para":"05-1","html":"
The Codification contains several Topics that address certain aspects of the accounting for debt. The Topics include:
  1. a
    Liabilities
  2. b
    Debt
  3. c
    Distinguishing Liabilities from Equity.
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The Debt Topic provides accounting and reporting guidance for borrowers. This Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Debt with Conversion and Other Options
  3. c
    Participating Mortgage Loans
  4. d
    Product Financing Arrangements
  5. e
    Modifications and Extinguishments
  6. f
    Troubled Debt Restructurings by Debtors.
","snippet":"The Debt Topic provides accounting and reporting guidance for borrowers. This Topic includes the following Subtopics:\n(a) Overall\n(b) Debt with Conversion and Other Options\n(c) Participating Mortgage Loans\n(d) Product Fi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b645014f9176d238d149d5b940de62037aa830e13262d634309cd7c6a5cccb5b","downloaded_from":"2026-09-10T00:30:16.675Z","last_downloaded_at":"2026-09-10T00:30:16.675Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481262","source_sha256":"9991113cb874636cafdb1376a171d6fc6f322aadf8ece97e318421070858836c"}},{"citation":"470-10-05-3","para":"05-3","html":"
The Liabilities Topic provides accounting and reporting guidance related to liabilities typically considered short-term in nature, and certain guidance that may apply broadly to any liability, including those addressed in this Topic.
","snippet":"The Liabilities Topic provides accounting and reporting guidance related to liabilities typically considered short-term in nature, and certain guidance that may apply broadly to any liability, including those addressed i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e7d87118d3365f312555cad4c77bdfde10ed10bb017f0ff4fd56081432df060","downloaded_from":"2026-09-10T00:30:16.675Z","last_downloaded_at":"2026-09-10T00:30:16.675Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481262","source_sha256":"9991113cb874636cafdb1376a171d6fc6f322aadf8ece97e318421070858836c"}},{"citation":"470-10-05-4","para":"05-4","html":"
The Distinguishing Liabilities from Equity Topic provides accounting and reporting guidance for determining whether a transaction represents a liability or equity.
","snippet":"The Distinguishing Liabilities from Equity Topic provides accounting and reporting guidance for determining whether a transaction represents a liability or equity.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42d87ae0c7acd8543f3ca27f8b61257eaf2eac74f41116dea23a82561398557b","downloaded_from":"2026-09-10T00:30:16.675Z","last_downloaded_at":"2026-09-10T00:30:16.675Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481262","source_sha256":"9991113cb874636cafdb1376a171d6fc6f322aadf8ece97e318421070858836c"}},{"citation":"470-10-05-5","para":"05-5","html":"
The Overall Subtopic addresses classification determination for specific obligations, such as the following:
  1. a
    Short-term obligations expected to be refinanced on a long-term basis
  2. b
    Due-on-demand loan arrangements
  3. c
    Callable debt
  4. d
    Sales of future revenue
  5. e
    Increasing rate debt
  6. f
    Debt that includes covenants
  7. g
    Revolving credit agreements subject to lock-box arrangements and subjective acceleration clauses
  8. h
    Indexed debt.
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The guidance in this Subtopic applies to all entities.
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 The guidance in this Subtopic applies to all entities, excluding paragraph 470-10-50-7, which applies to public business entities only.
","snippet":"The guidance in this Subtopic applies to all entities. Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance: 105-10-65-7 The guidance in this Subtopic applies to all entities, excluding paragraph 470-1…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51e74ca570f0761452b402f283fd0c17552504f82e0c6858fc19f251ab9f5fc9","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f30fc54d207eb6a9b9dc5fe7c3524ceaf87467c9f501496619958c3b08f6a123","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"470-10-15-2","para":"15-2","html":"
The guidance in this Subtopic that relates to separate classification of current assets and current liabilities (that is, a classified balance sheet) applies only when an entity is preparing a classified balance sheet for financial accounting and reporting purposes.
","snippet":"The guidance in this Subtopic that relates to separate classification of current assets and current liabilities (that is, a classified balance sheet) applies only when an entity is preparing a classified balance sheet fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1120ddffb4be4e72a7a7661b63991136337614c8b5ff061eb562861e3cf92e1a","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e2a272d019daff0fba283313334acf5af46c73526eacd8ef52a7ea0accef5dd1","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:703e7a8d0955e29d4fb7ff64ad2eb906ec83c428f3a79f0f25087518d0d14b5d","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Sales of Future Revenues or Various Other Measures of Income","paragraphs":[{"citation":"470-10-25-1","para":"25-1","html":"
An entity receives cash from an investor and agrees to pay to the investor for a defined period a specified percentage or amount of the revenue or of a measure of income (for example, gross margin, operating income, or pretax income) of a particular product line, business segment, trademark, patent, or contractual right. It is assumed that immediate income recognition is not appropriate due to the facts and circumstances. The payment to the investor and the future revenue or income on which the payment is based may be denominated in a foreign currency.
","snippet":"An entity receives cash from an investor and agrees to pay to the investor for a defined period a specified percentage or amount of the revenue or of a measure of income (for example, gross margin, operating income, or p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6bb304c7240285054e6869f47e9e9aea0f5631c96b1fc9843ed84a6379b1c7c1","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}},{"citation":"470-10-25-2","para":"25-2","html":"
While the classification of the proceeds from the investor as debt or deferred income depends on the specific facts and circumstances of the transaction, the presence of any one of the following factors independently creates a rebuttable presumption that classification of the proceeds as debt is appropriate:
  1. a
    The transaction does not purport to be a sale (that is, the form of the transaction is debt).
  2. b
    The entity has significant continuing involvement in the generation of the cash flows due the investor (for example, active involvement in the generation of the operating revenues of a product line, subsidiary, or business segment).
  3. c
    The transaction is cancelable by either the entity or the investor through payment of a lump sum or other transfer of assets by the entity.
  4. d
    The investor's rate of return is implicitly or explicitly limited by the terms of the transaction.
  5. e
    Variations in the entity's revenue or income underlying the transaction have only a trifling impact on the investor's rate of return.
  6. f
    The investor has any recourse to the entity relating to the payments due the investor.
","snippet":"While the classification of the proceeds from the investor as debt or deferred income depends on the specific facts and circumstances of the transaction, the presence of any one of the following factors independently cre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fbb2aff9579f0a03f75145f4cb23f5964677fd63251e5f03de856b088b1d0f09","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9787e8105b8b8eb54de663c1b7bb3ed3cea5bbc6ce1b6fee485dbd86fccbf5dc","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}},{"block":null,"heading":"Indexed Debt","paragraphs":[{"citation":"470-10-25-3","para":"25-3","html":"
Debt instruments may be issued with both guaranteed and contingent payments. The contingent payments may be linked to the price of a specific commodity (for example, oil) or a specific index (for example, the S&P 500). In some instances, the investor's right to receive the contingent payment (an indexing feature) is separable from the debt instrument. If the indexing feature does not warrant separate accounting under Topic 815 or the instrument does not meet the definition of a derivative under Topic 815, the entire instrument shall be accounted for in accordance with paragraphs 470-10-25-4 and 470-10-35-4.
","snippet":"Debt instruments may be issued with both guaranteed and contingent payments. The contingent payments may be linked to the price of a specific commodity (for example, oil) or a specific index (for example, the S&P 500). I…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d97ff207486f01eb13d06921d12ec2bf95bd6d157fdf44379236d7a35762101","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}},{"citation":"470-10-25-4","para":"25-4","html":"
If the investor's right to receive the contingent payment is separable, the proceeds shall be allocated between the debt instrument and the investor's stated right to receive the contingent payment. The premium or discount on the debt resulting from the allocation shall be accounted for in accordance with Subtopic 835-30.
","snippet":"If the investor's right to receive the contingent payment is separable, the proceeds shall be allocated between the debt instrument and the investor's stated right to receive the contingent payment. The premium or discou…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:90f727c316b98101e7083165f835422d7ba1356236eeeab74c1cca85aa90fa31","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45a3f5a32fe5cfb4c2ac7be75694fa353604c332a915835e773e12ac8a4c01f4","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:becd8ab8c570815a9c22105ada44ec7cdc0a9345c06e8b488e36e5ecbb5a3a69","downloaded_from":"2026-09-10T00:30:25.339Z","last_downloaded_at":"2026-09-10T00:30:25.339Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481174","source_sha256":"daa140611394f5147379b6624c7438eae252f3834d294e91b264e61b3c5f2bf4"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Increasing Rate Debt","paragraphs":[{"citation":"470-10-35-1","para":"35-1","html":"
A debt instrument may have a maturity date that can be extended at the option of the borrower at each maturity date until final maturity. In such cases, the interest rate on the note increases a specified amount each time the note is renewed. For guidance on accounting for interest, see Subtopic 835-30.
","snippet":"A debt instrument may have a maturity date that can be extended at the option of the borrower at each maturity date until final maturity. In such cases, the interest rate on the note increases a specified amount each tim…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7cf462807e59bc568deb335f3a55bbe772baa4f17eb293e313a7c38447aeedec","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}},{"citation":"470-10-35-2","para":"35-2","html":"
The borrower's periodic interest cost shall be determined using the interest method based on the estimated outstanding term of the debt. In estimating the term of the debt, the borrower shall consider its plans, ability, and intent to service the debt. Debt issue costs shall be amortized over the same period used in the interest cost determination. The term-extending provisions of the debt instrument should be analyzed to determine whether those provisions constitute an embedded derivative that warrants separate accounting as a derivative under Subtopic 815-10.
","snippet":"The borrower's periodic interest cost shall be determined using the interest method based on the estimated outstanding term of the debt. In estimating the term of the debt, the borrower shall consider its plans, ability,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d8e2fa2bd69bc3b0c85aab8ef7b40d4e6d09590171498c1ddabb3c7cafed9dbf","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:66e24952eae0009cced1a126a587bdc6fa90ccd02953ac2ee383531311a85308","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}},{"block":null,"heading":"Sale of Future Revenues or Various Other Measures of Income","paragraphs":[{"citation":"470-10-35-3","para":"35-3","html":"
Amounts recorded as debt shall be amortized under the interest method (see Subtopic 835-30) and amounts recorded as deferred income shall be amortized under the units-of-revenue method.
","snippet":"Amounts recorded as debt shall be amortized under the interest method (see Subtopic 835-30) and amounts recorded as deferred income shall be amortized under the units-of-revenue method.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:909723d2791adda2d6169918ee7931cb44cc0be7a81c875ca1f370a69b597903","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:00d1f930a8a247f138be2aace734483a6647d7cb93e182a5c5ad3a835acf7b3e","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}},{"block":null,"heading":"Indexed Debt","paragraphs":[{"citation":"470-10-35-4","para":"35-4","html":"
As the applicable index value increases such that an issuer would be required to pay an investor a contingent payment at maturity, the issuer shall recognize a liability for the amount that the contingent payment exceeds the amount, if any, originally attributed to the contingent payment feature. The liability for the contingent payment feature shall be based on the applicable index value at the balance sheet date and shall not anticipate any future changes in the index value. When no proceeds are allocated originally to the contingent payment, the additional liability resulting from the fluctuating index value shall be accounted for as an adjustment of the carrying amount of the debt obligation.
","snippet":"As the applicable index value increases such that an issuer would be required to pay an investor a contingent payment at maturity, the issuer shall recognize a liability for the amount that the contingent payment exceeds…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aec9a2a4f70ff76257bf4bf2055068e8155e4910615fff667aed7de1265a6983","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a5147631f92f8c0a3ead195cdb3e15dd751d3e099a9486d5650b0d38162c47e","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:88b5e2b41a8f97e638eb8e432e17e7e0cf3b0b2221d8642015d27355a395d78c","downloaded_from":"2026-09-10T00:30:29.055Z","last_downloaded_at":"2026-09-10T00:30:29.055Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481143","source_sha256":"bf1ea4bae29baf86da13f676380b9bd4897146540c855680af2c3097f4b85e3b"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Classification of Debt That Includes Covenants","paragraphs":[{"citation":"470-10-45-1","para":"45-1","html":"
Some long-term loans require compliance with certain covenants that must be met on a quarterly or semiannual basis. If a covenant violation occurs that would otherwise give the lender the right to call the debt, a lender may waive its call right arising from the current violation for a period greater than one year while retaining future covenant requirements. Unless facts and circumstances indicate otherwise, the borrower shall classify the obligation as noncurrent, unless both of the following conditions exist:
  1. a
    A covenant violation that gives the lender the right to call the debt has occurred at the balance sheet date or would have occurred absent a loan modification.
  2. b
    It is probable that the borrower will not be able to cure the default (comply with the covenant) at measurement dates that are within the next 12 months.
See Example 1 (paragraph 470-10-55-2) for an illustration of this classification guidance.
","snippet":"Some long-term loans require compliance with certain covenants that must be met on a quarterly or semiannual basis. If a covenant violation occurs that would otherwise give the lender the right to call the debt, a lender…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e25756b836659db06df286bd55a9022880f1b8c0bb745cd63cec04e461b708b","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c8826bf215275b484841c700dff94985a0bc85c2d1bb1407d25eb77f5aa2d10","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Subjective Acceleration Clauses and Debt Classification","paragraphs":[{"citation":"470-10-45-2","para":"45-2","html":"
In some situations, the circumstances (for example, recurring losses or liquidity problems) would indicate that long-term debt subject to a subjective acceleration clause should be classified as a current liability. Other situations would indicate only disclosure of the existence of such clauses. Neither reclassification nor disclosure would be required if the likelihood of the acceleration of the due date were remote, such as if the lender historically has not accelerated due dates of loans containing similar clauses and the financial condition of the borrower is strong and its prospects are bright.
","snippet":"In some situations, the circumstances (for example, recurring losses or liquidity problems) would indicate that long-term debt subject to a subjective acceleration clause should be classified as a current liability. Othe…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3400a220bab21cb06b9b03f5ef2c3e3c64353554ad6c2274bd142fa8f4cd1046","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb733a768df964d5baea6333c26dc6b676d66c447647b0c2234da293de74f0f1","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Classification of Revolving Credit Agreements Subject to Lock-Box Arrangements and Subjective Acceleration Clauses","paragraphs":[{"citation":"470-10-45-3","para":"45-3","html":"
This guidance does not apply to lock-box arrangements that are maintained at the discretion of the borrower.
","snippet":"This guidance does not apply to lock-box arrangements that are maintained at the discretion of the borrower.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ea2ee386c628ed17a9e8e2de58a6691cc31d1bf851c60d8e23e7bb054f98234a","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-4","para":"45-4","html":"
Borrowings outstanding under certain revolving credit agreements are considered long-term debt because the borrowings are due at the end of a specified period (for example, 3 years) rather than when short-term notes roll over (for example, every 90 days). Borrowings may be collateralized, but the only note is the overall note signed at the agreement's inception. Some agreements require that the borrower maintain a lock-box arrangement. If borrowings outstanding under the agreement are considered long-term obligations, the effect of a subjective acceleration clause on balance sheet classification is determined based on the criteria in paragraph 470-10-45-2. If borrowings outstanding are considered short-term obligations, and the borrower intends to refinance the obligation on a long-term basis, paragraph 470-10-45-13 applies and the debt shall be classified as a current liability because of the existence of the subjective acceleration clause.
","snippet":"Borrowings outstanding under certain revolving credit agreements are considered long-term debt because the borrowings are due at the end of a specified period (for example, 3 years) rather than when short-term notes roll…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34dac90fe206bb406e1b407047627e29cd028fcb5743fa985c4c45fb1fab638f","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-5","para":"45-5","html":"
Borrowings outstanding under a revolving credit agreement that includes both a subjective acceleration clause and a requirement to maintain a lock-box arrangement shall be considered short-term obligations. Accordingly, because of the subjective acceleration clause, the debt shall be classified as a current liability unless the conditions in paragraph 470-10-45-14 are met based on an agreement, other than the revolving credit agreement, to refinance the obligation after the balance sheet date on a long-term basis.
","snippet":"Borrowings outstanding under a revolving credit agreement that includes both a subjective acceleration clause and a requirement to maintain a lock-box arrangement shall be considered short-term obligations. Accordingly, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d7668617be9289971fecdde1d551c545b807672b6c9af111d086fc10940418b","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-5A","para":"45-5A","html":"
The term lock-box arrangement as used in this guidance refers to any situation in which the borrower does not have the ability to avoid using working capital to repay the amounts outstanding. That is, if the contractual provisions of a loan arrangement require that, in the ordinary course of business and without another event occurring, the cash receipts of a debtor be used to repay the existing obligation, the credit agreement shall be considered a short-term obligation.
","snippet":"The term lock-box arrangement as used in this guidance refers to any situation in which the borrower does not have the ability to avoid using working capital to repay the amounts outstanding. That is, if the contractual …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:153628d96ca0d3a1ddfd4413e6ae920ba7914c50699be504b43271fda11e17cf","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-6","para":"45-6","html":"
Borrowings outstanding under a revolving credit agreement that includes both a subjective acceleration clause and a requirement to maintain a springing lock-box arrangement shall be considered long-term obligations since the remittances do not automatically reduce the debt outstanding without another event occurring. The effect of the agreement's subjective acceleration clause shall be determined based on the provisions of paragraph 470-10-45-2.
","snippet":"Borrowings outstanding under a revolving credit agreement that includes both a subjective acceleration clause and a requirement to maintain a springing lock-box arrangement shall be considered long-term obligations since…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a301912024c8f81c7582659e04eac42c22f31568077e659e34f0840b1903bc18","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e91e4f0ca603c16c39fd7ef197f7abcdfe2d57830c761549b8e01a69ab20b31a","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Classification of Increasing-Rate Debt","paragraphs":[{"citation":"470-10-45-7","para":"45-7","html":"
Classification of increasing-rate debt as current or noncurrent would reflect the borrower's anticipated source of repayment that is, current assets or a new short-term debt borrowing versus a long-term refinancing agreement that meets the requirements of this Subtopic and need not be consistent with the time frame used to determine periodic interest cost.
","snippet":"Classification of increasing-rate debt as current or noncurrent would reflect the borrower's anticipated source of repayment that is, current assets or a new short-term debt borrowing versus a long-term refinancing agree…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec851d034f6389338a634cab620f4f354089355e045810875a1f4a56ae979ea1","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-8","para":"45-8","html":"
If the debt is paid at par before its estimated maturity, any excess interest accrued shall be an adjustment of interest expense.
","snippet":"If the debt is paid at par before its estimated maturity, any excess interest accrued shall be an adjustment of interest expense.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ca6371443fbae7d698248fb63ead8d591ae7df659ffdf717ef148b87c5c4975","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a7fb46b27c113ff5504d2892ea24a26a96120638a61051012e7df1c28e8364c","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Due on Demand Loan Arrangements","paragraphs":[{"citation":"470-10-45-9","para":"45-9","html":"
Loan agreements may specify the debtor's repayment terms but also enable the creditor, at his discretion, to demand payment at any time. Those loan arrangements may have wording such as either of the following:
  1. a
    \"The term note shall mature in monthly installments as set forth therein or on demand, whichever is earlier.\"
  2. b
    \"Principal and interest shall be due on demand, or if no demand is made, in quarterly installments beginning on....\"
","snippet":"Loan agreements may specify the debtor's repayment terms but also enable the creditor, at his discretion, to demand payment at any time. Those loan arrangements may have wording such as either of the following:\n(a) \"The …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:245e5e64ca906450cbafe13db5e09e2cead2b5f75df8ac1993986b5886b2e39e","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-10","para":"45-10","html":"
The current liability classification shall include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liquidation may not be expected within that period. The demand provision is not a subjective acceleration clause as discussed in paragraph 470-10-45-2.
","snippet":"The current liability classification shall include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liq…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9d7edef9b9e0ff812b9f816dee5f2d7c99f1280448c1c80acb5e30631a5ae2a","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0ec2edaad02e50f4d034082b45d86be1b83bdb9eeec24e41b6eafe1281d505cf","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Callable Debt","paragraphs":[{"citation":"470-10-45-11","para":"45-11","html":"
Current liabilities shall include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable. Accordingly, such callable obligations shall be classified as current liabilities unless either of the following conditions is met:
  1. a
    The creditor has waived or subsequently lost (for example, the debtor has cured the violation after the balance sheet date and the obligation is not callable at the time the financial statements are issued or are available to be issued [as discussed in Section 855-10-25]) the right to demand repayment for more than one year (or operating cycle, if longer) from the balance sheet date. If the obligation is callable because of violations of certain provisions of the debt agreement, the creditor needs to waive its right with regard only to those violations.
  2. b
    For long-term obligations containing a grace period within which the debtor may cure the violation, it is probable that the violation will be cured within that period, thus preventing the obligation from becoming callable.
","snippet":"Current liabilities shall include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligati…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:378256a01b8cac819cde6ecd1b9f55bd73dc1be64b61e0ae06a84fc6b3abe70b","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-12","para":"45-12","html":"
Drawing a distinction between significant violations of critical conditions and technical violations is not practicable. A violation that a debtor considers to be technical may be considered critical by the creditor. Furthermore, a creditor may choose to use a technical violation as a means to withdraw from its lending relationship with the debtor. If the violation is considered insignificant by the creditor, then the debtor should be able to obtain a waiver as discussed in the preceding paragraph.
","snippet":"Drawing a distinction between significant violations of critical conditions and technical violations is not practicable. A violation that a debtor considers to be technical may be considered critical by the creditor. Fur…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:68347ba81a82894fef0a47a492aeb072854a1cc740d4493765a59877f0380a3d","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5f19973720beb110df07d9fe27fbcdf3c806753e45ac5ea15912dfdb8c623e4","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Short-Term Obligations Expected to Be Refinanced","paragraphs":[{"citation":"470-10-45-12A","para":"45-12A","html":"
Some short-term obligations are expected to be refinanced on a long-term basis and, therefore, are not expected to require the use of working capital during the ensuing fiscal year. Examples include commercial paper, construction loans, and the currently maturing portion of long-term debt.
","snippet":"Some short-term obligations are expected to be refinanced on a long-term basis and, therefore, are not expected to require the use of working capital during the ensuing fiscal year. Examples include commercial paper, con…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c87270ea387b25f49d91dfbdcb7435cbcebdd3b4ba6aa6b64fe3ad7a60c6e84c","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-12B","para":"45-12B","html":"
Refinancing a short-term obligation on a long-term basis means either replacing it with a long-term obligation or with equity securities or renewing, extending, or replacing it with short-term obligations for an uninterrupted period extending beyond one year (or the operating cycle, if applicable) from the date of an entity's balance sheet.
","snippet":"Refinancing a short-term obligation on a long-term basis means either replacing it with a long-term obligation or with equity securities or renewing, extending, or replacing it with short-term obligations for an uninterr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7dc27367d940405335b83115ad0ddabd3c72a5911929610857806703614dc65e","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-13","para":"45-13","html":"
Short-term obligations arising from transactions in the normal course of business that are due in customary terms shall be classified as current liabilities. A short-term obligation shall be excluded from current liabilities only if the conditions in the following paragraph are met. Funds obtained on a long-term basis before the balance sheet date would be excluded from current assets if the obligation to be liquidated is excluded from current liabilities.
","snippet":"Short-term obligations arising from transactions in the normal course of business that are due in customary terms shall be classified as current liabilities. A short-term obligation shall be excluded from current liabili…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6c11c7220c8b9d3403c0fcd550298a479e5551665233aff04c7c7911d64eaf42","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e12c4307791d0659eb4cd005dcae7c1857e2e4a9e04ff6673bd24e656256d878","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Intent and Ability to Refinance on a Long-Term Basis","paragraphs":[{"citation":"470-10-45-14","para":"45-14","html":"
A short-term obligation shall be excluded from current liabilities if the entity intends to refinance the obligation on a long-term basis (see paragraph 470-10-45-12B) and the intent to refinance the short-term obligation on a long-term basis is supported by an ability to consummate the refinancing demonstrated in either of the following ways:
  1. a
    Post-balance-sheet-date issuance of a long-term obligation or equity securities. After the date of an entity's balance sheet but before that balance sheet is issued or is available to be issued (as discussed in Section 855-10-25), a long-term obligation or equity securities have been issued for the purpose of refinancing the short-term obligation on a long-term basis. If equity securities have been issued, the short-term obligation, although excluded from current liabilities, shall not be included in owners' equity.
  2. b
    Financing agreement. Before the balance sheet is issued or is available to be issued (as discussed in Section 855-10-25), the entity has entered into a financing agreement that clearly permits the entity to refinance the short-term obligation on a long-term basis on terms that are readily determinable, and all of the following conditions are met:
    1. 1
      The agreement does not expire within one year (or operating cycle) from the date of the entity's balance sheet and during that period the agreement is not cancelable by the lender or the prospective lender or investor (and obligations incurred under the agreement are not callable during that period) except for violation of a provision with which compliance is objectively determinable or measurable. For purposes of this Subtopic, violation of a provision means failure to meet a condition set forth in the agreement or breach or violation of a provision such as a restrictive covenant, representation, or warranty, whether or not a grace period is allowed or the lender is required to give notice. Financing agreements cancelable for violation of a provision that can be evaluated differently by the parties to the agreement (such as a material adverse change or failure to maintain satisfactory operations) do not comply with this condition.
    2. 2
      No violation of any provision in the financing agreement exists at the balance sheet date and no available information indicates that a violation has occurred thereafter but before the balance sheet is issued or is available to be issued (as discussed in Section 855-10-25), or, if one exists at the balance sheet date or has occurred thereafter, a waiver has been obtained.
    3. 3
      The lender or the prospective lender or investor with which the entity has entered into the financing agreement is expected to be financially capable of honoring the agreement.
","snippet":"A short-term obligation shall be excluded from current liabilities if the entity intends to refinance the obligation on a long-term basis (see paragraph 470-10-45-12B) and the intent to refinance the short-term obligatio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0e43cb19ecfaca132f10770df0c1a7917a91c244916dda0ee02f8c69e8936b6","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-15","para":"45-15","html":"
Repayment of a short-term obligation before funds are obtained through a long-term refinancing requires the use of current assets. Therefore, if a short-term obligation is repaid after the balance sheet date and subsequently a long-term obligation or equity securities are issued whose proceeds are used to replenish current assets before the balance sheet is issued or is available to be issued (as discussed in Section 855-10-25), the short-term obligation shall not be excluded from current liabilities at the balance sheet date. See Example 5 (paragraph 470-10-55-33) for an illustration of this guidance.
","snippet":"Repayment of a short-term obligation before funds are obtained through a long-term refinancing requires the use of current assets. Therefore, if a short-term obligation is repaid after the balance sheet date and subseque…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:138ce12888b0b64010cbd0207f78de1d799025a55652537f4b4085dff7bed960","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-16","para":"45-16","html":"
If an entity's ability to consummate an intended refinancing of a short-term obligation on a long-term basis is demonstrated by post-balance-sheet-date issuance of a long-term obligation or equity securities (see paragraph 470-10-45-14(a)), the amount of the short-term obligation to be excluded from current liabilities shall not exceed the proceeds of the new long-term obligation or the equity securities issued.
","snippet":"If an entity's ability to consummate an intended refinancing of a short-term obligation on a long-term basis is demonstrated by post-balance-sheet-date issuance of a long-term obligation or equity securities (see paragra…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5d50b0314af7fda81e10af50689f2340055b2e80e99c4ef6bc6d8f29ca0f0fc","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-17","para":"45-17","html":"
If ability to refinance is demonstrated by the existence of a financing agreement (see paragraph 470-10-45-14(b)), the amount of the short-term obligation to be excluded from current liabilities shall be reduced to the amount available for refinancing under the agreement if the amount available is less than the amount of the short-term obligation.
","snippet":"If ability to refinance is demonstrated by the existence of a financing agreement (see paragraph 470-10-45-14(b)), the amount of the short-term obligation to be excluded from current liabilities shall be reduced to the a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:05cdc5dff50800c138158f4e5244855e43506d50d6bfd13164674f355e82865a","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"citation":"470-10-45-18","para":"45-18","html":"
The amount to be excluded shall be reduced further if information (such as restrictions in other agreements or restrictions as to transferability of funds) indicates that funds obtainable under the agreement will not be available to liquidate the short-term obligation.
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Further, if amounts that could be obtained under the financing agreement fluctuate (for example, in relation to the entity's needs, in proportion to the value of collateral, or in accordance with other terms of the agreement), the amount to be excluded from current liabilities shall be limited to a reasonable estimate of the minimum amount expected to be available at any date from the scheduled maturity of the short-term obligation to the end of the fiscal year (or operating cycle). If no reasonable estimate can be made, the entire outstanding short-term obligation shall be included in current liabilities.
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The entity may intend to seek an alternative source of financing rather than to exercise its rights under the existing agreement when the short-term obligation becomes due. The entity must intend to exercise its rights under the existing agreement, however, if that other source does not become available. The intent to exercise may not be present if the terms of the agreement contain conditions or permit the prospective lender or investor to establish conditions, such as interest rates or collateral requirements, that are unreasonable to the entity.
","snippet":"The entity may intend to seek an alternative source of financing rather than to exercise its rights under the existing agreement when the short-term obligation becomes due. The entity must intend to exercise its rights u…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b93862cfbbf87f615f058efa029ae07f431d08495787e997c5b43721433201fa","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:28773b1447e03b3dbf80a076977adfabc484186045a9018d630f76df65430cea","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"block":null,"heading":"Transactions after the Balance Sheet Date","paragraphs":[{"citation":"470-10-45-21","para":"45-21","html":"
Replacement of a short-term obligation with another short-term obligation after the date of the balance sheet but before the balance sheet is issued or is available to be issued (as discussed in Section 855-10-25) is not, by itself, sufficient to demonstrate an entity's ability to refinance the short-term obligation on a long-term basis. If, for example, the replacement is made under the terms of a revolving credit agreement that provides for renewal or extension of the short-term obligation for an uninterrupted period extending beyond one year (or operating cycle) from the date of the balance sheet, the revolving credit agreement must meet the conditions in paragraph 470-10-45-14(b) to justify excluding the short-term obligation from current liabilities. Similarly, if the replacement is a rollover of commercial paper accompanied by a standby credit agreement, the standby agreement must meet the conditions in that paragraph to justify excluding the short-term obligation from current liabilities.
","snippet":"Replacement of a short-term obligation with another short-term obligation after the date of the balance sheet but before the balance sheet is issued or is available to be issued (as discussed in Section 855-10-25) is not…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:825929513f563d48cb6b93b0b507745480712afff115a996020880973067f700","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fa558eab69eecb30b87dea4bc6f2975ff94e63e998d183d66cfb83373cf02e8f","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a0f9bdbdd67c9ccc915286c598665ac807f29ba1d020ce788f4748f31885afb","downloaded_from":"2026-09-10T00:30:33.212Z","last_downloaded_at":"2026-09-10T00:30:33.212Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481573","source_sha256":"b6e62cb0665b741eb0d0bbe45f271d1c902e75c037c988bd407e2f52a3ed6581"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Disclosure of Long-Term Obligations","paragraphs":[{"citation":"470-10-50-1","para":"50-1","html":"
The combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings shall be disclosed for each of the five years following the date of the latest balance sheet presented. (See paragraph 505-10-50-11 for related disclosure guidance on redeemable securities). See Example 3 (paragraph 470-10-55-10) for an illustration of this disclosure requirement.
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If an obligation under paragraph 470-10-45-11(b) is classified as a long-term liability (or, in the case of an unclassified balance sheet, is included as a long-term liability in the disclosure of debt maturities), the circumstances shall be disclosed.
","snippet":"If an obligation under paragraph 470-10-45-11(b) is classified as a long-term liability (or, in the case of an unclassified balance sheet, is included as a long-term liability in the disclosure of debt maturities), the c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f6b99c8ce6acce4763ac129cf8f6e0b78ea92da96f5dab80ab385cbe5c62fdad","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6960fcbf83ec21e73ae4b647e3dafd9eb6a343a66c502e3c73d37d78a1609125","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"block":null,"heading":"Subjective Acceleration Clauses","paragraphs":[{"citation":"470-10-50-3","para":"50-3","html":"
As indicated in paragraph 470-10-45-2, in some situations long-term debt subject to a subjective acceleration clause shall be reclassified. That paragraph explains that other situations would indicate only disclosure of the existence of such clauses. That paragraph states further that neither reclassification nor disclosure is required if the likelihood of the acceleration of the due date is remote, such as when the lender historically has not accelerated due dates of loans containing similar clauses and the financial condition of the borrower is strong and its prospects are bright.
","snippet":"As indicated in paragraph 470-10-45-2, in some situations long-term debt subject to a subjective acceleration clause shall be reclassified. That paragraph explains that other situations would indicate only disclosure of …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c9907bd7df0e1dfdd9ebac34eca435be21fba7e8111688f9a60a00476562494","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e3f79c265cdfa2ec3a27e1f53a72a143ca056e096409277e11252e3a5146972","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"block":null,"heading":"Short-Term Obligations Expected to Be Refinanced","paragraphs":[{"citation":"470-10-50-4","para":"50-4","html":"
If a short-term obligation is excluded from current liabilities pursuant to the provisions of this Subtopic, the notes to financial statements shall include a general description of the financing agreement and the terms of any new obligation incurred or expected to be incurred or equity securities issued or expected to be issued as a result of a refinancing.
","snippet":"If a short-term obligation is excluded from current liabilities pursuant to the provisions of this Subtopic, the notes to financial statements shall include a general description of the financing agreement and the terms …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1566dfab24ad40f53ebc7dccd3af64e3558f5ced5ba51f51003455db0bb8b37e","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a6ab2abb078dd1e7dda9b87a518e98be2b395990da25454a0b58e33227331e1","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"block":null,"heading":"Summary Disclosure of Securities Outstanding","paragraphs":[{"citation":"470-10-50-5","para":"50-5","html":"
Paragraph 505-10-50-3 requires that an entity explain, in summary form within its financial statements, the pertinent rights and privileges of various securities outstanding.
","snippet":"Paragraph 505-10-50-3 requires that an entity explain, in summary form within its financial statements, the pertinent rights and privileges of various securities outstanding.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5f42c71606dc5868385e053be57962411b51b1b7408a62c3e602e3a259748eb","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36f66996ea8a215c63445b74917e8eeef01d8412ac7b1523acec7fcb8c61933b","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"block":null,"heading":"Unused Commitments and Lines of Credit","paragraphs":[{"citation":"470-10-50-6","para":"50-6","html":"
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7An entity shall separately disclose the following in the notes to financial statements:
  1. a
    The amount and terms of unused commitments for long-term financing arrangements (including commitment fees and the conditions under which commitments may be withdrawn)
  2. b
    The amount and terms of unused lines of credit for short-term financing arrangements (including commitment fees and the conditions under which lines may be withdrawn) and the amount of those lines of credit that support commercial paper borrowing arrangements or similar arrangements.
","snippet":"Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:105-10-65-7An entity shall separately disclose the following in the notes to financial statements:\n(a) The amount and terms of unused commitments fo…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:77e3d7a143cfc97fb1efe6af2079ea3a8dca99db8cfaa1351fcac8212c0385ae","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:91ef90a26940d90e0f6985015fa1b801a36b824e95a58665783c605d52ee43a8","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"block":null,"heading":"Weighted-Average Interest Rate on Short-Term Borrowings","paragraphs":[{"citation":"470-10-50-7","para":"50-7","html":"
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7A public business entity shall disclose the weighted-average interest rate on short-term borrowings outstanding as of the date of each balance sheet presented.
","snippet":"Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:105-10-65-7A public business entity shall disclose the weighted-average interest rate on short-term borrowings outstanding as of the date of each ba…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b64771fbcb79d244ada086d1f3794e81817487b50acc2576b03a6ac2da0673f6","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7cbf8d1467effec456f3626ac87f65281375316b01ca0e4fbb8ce750a5bff35","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:689b129565311eebc43c59ea52017163fee5951adc0f4a2d0661e700957051cd","downloaded_from":"2026-09-10T00:30:35.359Z","last_downloaded_at":"2026-09-10T00:30:35.359Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481544","source_sha256":"29c2742bea2e1bfba56fd2b35d589c87ca8d4e73e59e6badbec08ced924b485c"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"470-10-55-1","para":"55-1","html":"
Under paragraph 470-10-45-2, the lender has already loaned money on a long-term basis. To continue long-term classification requires a judgment about the likelihood of acceleration of the due date. Paragraphs
470-10-45-13 through 45-20
cover circumstances in which the obligation is by its terms short-term. For such an obligation to be excluded from current liabilities, the lender must advance new funds or refinance the short-term obligation on a long-term basis based on conditions existing on the date of the new loan or refinancing. Therefore, to classify an obligation as long-term, paragraphs
470-10-45-13 through 45-20
require a higher standard for a financing agreement that permits an entity to refinance a short-term obligation on a long-term basis than paragraph 470-10-50-2 requires for an existing long-term loan for which early repayment might be requested.
","snippet":"Under paragraph 470-10-45-2, the lender has already loaned money on a long-term basis. To continue long-term classification requires a judgment about the likelihood of acceleration of the due date. Paragraphs 470-10-45-1…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd0118d6641110c5f0665a603af3cce71f7618f928124810e47b052a31309645","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:16c8ab7d96320da5f2ada479bcdd1b58e1905f72e091604b3cda8a3b0314a253","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"470-10-55-2","para":"55-2","html":"
This Example illustrates the guidance in paragraph 470-10-45-1 for the classification of long-term debt when a debt covenant violation is waived by a lender for a period greater than a year.
","snippet":"This Example illustrates the guidance in paragraph 470-10-45-1 for the classification of long-term debt when a debt covenant violation is waived by a lender for a period greater than a year.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2775f57c0d55546654555d39e3f9b2325d617a694a7eb0058d40b2b6837618a","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-3","para":"55-3","html":"
A borrower has a long-term loan that requires compliance with certain covenants, such as maintenance of a minimum current ratio, minimum debt-to-equity ratio, or minimum level of shareholders' equity. The borrower must meet the covenants on a quarterly or semiannual basis. At one of the compliance dates, the borrower violates a covenant. That violation gives the lender the right to call the debt. The lender waives that right for a period greater than one year but retains the future covenant requirements.
","snippet":"A borrower has a long-term loan that requires compliance with certain covenants, such as maintenance of a minimum current ratio, minimum debt-to-equity ratio, or minimum level of shareholders' equity. The borrower must m…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb1097d0340e558250d996d08b4bb27142e7d5d4cece460cfcd634f8c599ade7","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-4","para":"55-4","html":"
The issue is whether the waiver of the lender's rights resulting from the violation of the covenant with the retention of the periodic covenant tests represents, in substance, a grace period. If viewed as a grace period, the borrower would classify the debt as current (see paragraph 470-10-45-11) unless it is probable that the borrower can cure the violation (comply with the covenant) within the grace period. Specifically, the balance sheet classification of an obligation is considered in the following situations:
  1. a
    The debt covenants are applicable only after the balance sheet date, and it is probable that the borrower will fail to meet the covenant requirement at the compliance date three months after the balance sheet date.
  2. b
    The borrower meets the current covenant requirement at the balance sheet date, and it is probable that the borrower will fail to meet the same covenant requirement at the compliance date in three months.
  3. c
    The borrower meets the current covenant requirement, and it is probable that the borrower will fail to meet a more restrictive covenant requirement applicable at the compliance date in three months.
  4. d
    The borrower has met the covenant requirement in the prior quarter but before the balance sheet date negotiates a modification of the loan agreement that eliminates the covenant requirement at the balance sheet date or modifies the requirement so that the borrower will comply. Absent the modification, the borrower would have been in violation of the covenant at the balance sheet date. The same or a more restrictive covenant must be met at the compliance date in three months, and it is probable that the borrower will fail to meet that requirement at that subsequent date.
  5. e
    The borrower is in violation of the current covenant requirement at the balance sheet date and, after the balance sheet date but before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25), obtains a waiver. The same or a more restrictive covenant must be met at the compliance date in three months, and it is probable that the borrower will fail to meet that requirement at that subsequent date.
","snippet":"The issue is whether the waiver of the lender's rights resulting from the violation of the covenant with the retention of the periodic covenant tests represents, in substance, a grace period. If viewed as a grace period,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fc7d66ea3ef6b1feae4d0ba52580f4e92857d3423ea722b48dd80d6fd9f1eda3","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-5","para":"55-5","html":"
In the situations described in (a) through (c) of the preceding paragraph, the debt would be classified as noncurrent, in which case the borrower would be required to disclose the adverse consequences of its probable failure to satisfy future covenants.
","snippet":"In the situations described in (a) through (c) of the preceding paragraph, the debt would be classified as noncurrent, in which case the borrower would be required to disclose the adverse consequences of its probable fai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c779ef22e24022b9cd9ef1b68c61ca00a1674b8df5f50db62faaaaf5cc2ef18","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-6","para":"55-6","html":"
In the situations described in paragraph 470-10-55-4(d) through (e), the debt would be classified as current. However, if the debt is expected to be refinanced on a long-term basis and the borrower meets the provisions of paragraphs
470-10-45-13 through 45-20
, the debt would be classified as noncurrent.
","snippet":"In the situations described in paragraph 470-10-55-4(d) through (e), the debt would be classified as current. However, if the debt is expected to be refinanced on a long-term basis and the borrower meets the provisions o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:471c7601bf1e8b7a255c85d3fb4cb544680f08bd06ad5b490786b85b23b235e4","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-7","para":"55-7","html":"
This Example illustrates the guidance for the appropriate classification by the issuer of debt if all of the following conditions exist:
  1. a
    The debt has a long-term maturity (for example, 30 to 40 years).
  2. b
    The debt holder may redeem or put the bond on short notice (7 to 30 days).
  3. c
    The issuer has a remarketing agreement that states that the agent will make its best effort to remarket the bond when redeemed.
  4. d
    The debt is secured by a short-term letter of credit that provides protection to the debt holder in the event that the redeemed debt cannot be remarketed. (Amounts drawn against the letter of credit are payable back to the issuer of the letter of credit by the issuer of the redeemable debt instrument on the same day that the drawdown occurs.)
","snippet":"This Example illustrates the guidance for the appropriate classification by the issuer of debt if all of the following conditions exist:\n(a) The debt has a long-term maturity (for example, 30 to 40 years).\n(b) The debt h…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdb5d6804f9e71724045af3e7a2d363843115b05573755e8782c8a03fb04258a","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-8","para":"55-8","html":"
Debt agreements that allow a debt holder to redeem (or put) a debt instrument on demand (or within one year) should be classified as short-term liabilities despite the existence of a best-efforts remarketing agreement. That is, unless the issuer of the redeemable debt instrument has the ability and intent to refinance the debt on a long-term basis as provided for in paragraph 470-10-45-14, the debt should be classified as a current liability.
","snippet":"Debt agreements that allow a debt holder to redeem (or put) a debt instrument on demand (or within one year) should be classified as short-term liabilities despite the existence of a best-efforts remarketing agreement. T…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9cc95ce64bcbb5124d2e419ff2f8f16a10aa5b3e28cabd9b73d149931b2da289","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-9","para":"55-9","html":"
In this Example, the obligation would be classified by the issuer as noncurrent only if the letter-of-credit arrangement meets the requirements of paragraph 470-10-45-14(b).
","snippet":"In this Example, the obligation would be classified by the issuer as noncurrent only if the letter-of-credit arrangement meets the requirements of paragraph 470-10-45-14(b).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:49b30a0b030977296f11e934085b44680676a51b14e1ad4640c4204e65da771e","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-10","para":"55-10","html":"
This Example provides an illustration of the guidance in paragraph 470-10-50-1 for disclosures for long-term borrowings and preferred stock with mandatory redemption requirements. This Example has the following assumptions.
","snippet":"This Example provides an illustration of the guidance in paragraph 470-10-50-1 for disclosures for long-term borrowings and preferred stock with mandatory redemption requirements. This Example has the following assumptio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3232e6ec316836839b4297b9fd49dff33cfa9088f3e74a86cd5ac63a79b9344","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-11","para":"55-11","html":"
Entity D has outstanding two long-term loans, one convertible debt, and one issue of preferred stock with mandatory redemption requirements. The first loan is a $100 million sinking fund debenture with annual sinking fund payments of $10 million in 19X2, 19X3, and 19X4, $15 million in 19X5 and 19X6, and $20 million in 19X7 and 19X8. The second loan is a $50 million note due in 19X5. The convertible debt has a principal amount of $70 million that is not convertible before maturity in 19X9. This convertible debt requires a 2 percent annual cumulative sinking fund payment of $1.4 million until settled. The $30 million issue of preferred stock requires a 5 percent annual cumulative sinking fund payment of $1.5 million until retired.
","snippet":"Entity D has outstanding two long-term loans, one convertible debt, and one issue of preferred stock with mandatory redemption requirements. The first loan is a $100 million sinking fund debenture with annual sinking fun…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c298ee3d7d9542c24ad197e474b17d94d3a39dbfb8bf050792fd6b323eab7961","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-12","para":"55-12","html":"
Entity D's disclosure might be as follows.
","snippet":"Entity D's disclosure might be as follows.\nMaturities and sinking fund requirements on long-term loans and convertible debt and sinking fund requirements on preferred stock subject to mandatory redemption are as follows …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:704ac13cfbb73bf2f5efcf36993e42de5098e323819039e519caad8dc468a043","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-13","para":"55-13","html":"
The following Cases illustrate various scenarios for refinancing the current portion of long-term debt and notes payable as discussed in paragraphs
470-10-45-13 through 45-20
:
  1. a
    Entity refinances on long-term basis the current maturity of long-term debt and notes payable (Case A).
  2. b
    Laws prohibit the transfer of funds (Case B).
  3. c
    Entity issues debentures to liquidate the debt (Case C).
  4. d
    Entity negotiates a revolving credit agreement (Case D).
  5. e
    Entity negotiates a revolving credit agreement with borrowing limits (Case E).
  6. f
    Entity refinances commercial paper (Case F).
  7. g
    Case illustrates balance sheet presentation (Case G).
","snippet":"The following Cases illustrate various scenarios for refinancing the current portion of long-term debt and notes payable as discussed in paragraphs 470-10-45-13 through 45-20:\n(a) Entity refinances on long-term basis the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dcfb9b84943ceea46d6fb0ec474c7c12b8ff0b49316b239ab21025c923363f99","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-14","para":"55-14","html":"
The Cases in this Example do not comprehend all possible circumstances and do not include all the disclosures that would typically be made regarding long-term debt or current liabilities.
","snippet":"The Cases in this Example do not comprehend all possible circumstances and do not include all the disclosures that would typically be made regarding long-term debt or current liabilities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8eccac5d2e1c98a1635c9f9e63270c35e48ae6ad83e253e27109da4055dfe76","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-15","para":"55-15","html":"
Cases A through G share all of the following assumptions:
  1. a
    Entity A's fiscal year-end is December 31, 19X5.
  2. b
    The date of issuance of the December 31, 19X5, financial statements is March 31, 19X6; the Entity's practice is to issue a classified balance sheet.
  3. c
    At December 31, 19X5, short-term obligations include $5,000,000 representing the portion of 6 percent long-term debt maturing in February 19X6 and $3,000,000 of 9 percent notes payable issued in November 19X5 and maturing in July 19X6.
  4. d
    The Entity intends to refinance on a long-term basis both the current maturity of long-term debt and the 9 percent notes payable.
  5. e
    Accounts other than the long-term debt maturing in February 19X6 and the notes payable maturing in July 19X6 are as follows.
    • Current assets \" $30,000,000 \" Other assets \" $50,000,000 \" Accounts payable and accruals \" $10,000,000 \" Other long-term debt \" $25,000,000 \" Shareholders' equity \" $37,000,000 \"\t
  6. f
    Unless otherwise indicated, the Cases also assume that the lender or prospective lender is expected to be capable of honoring the agreement, that there is no evidence of a violation of any provision, and that the terms of borrowings available under the agreement are readily determinable.
","snippet":"Cases A through G share all of the following assumptions:\n(a) Entity A's fiscal year-end is December 31, 19X5.\n(b) The date of issuance of the December 31, 19X5, financial statements is March 31, 19X6; the Entity's pract…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:25cb5516eb29d8817c72e1b5ef974282d7e2a85ae6f700a7753dcd2244a942ef","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-16","para":"55-16","html":"
The Entity negotiates a financing agreement with a commercial bank in December 19X5 for a maximum borrowing of $8,000,000 at any time through 19X7 with the following terms:
  1. a
    Borrowings are available at Entity A's request for such purposes as it deems appropriate and will mature three years from the date of borrowing.
  2. b
    Amounts borrowed will bear interest at the bank's prime rate.
  3. c
    An annual commitment fee of 1/2 of 1 percent is payable on the difference between the amount borrowed and $8,000,000.
  4. d
    The agreement is cancelable by the lender only if any of the following occur:
    1. 1
      The Entity's working capital, excluding borrowings under the agreement, falls below $10,000,000.
    2. 2
      The Entity becomes obligated under lease agreements to pay an annual rental in excess of $1,000,000.
    3. 3
      Treasury stock is acquired without the prior approval of the prospective lender.
    4. 4
      The Entity guarantees indebtedness of unaffiliated persons in excess of $500,000.
","snippet":"The Entity negotiates a financing agreement with a commercial bank in December 19X5 for a maximum borrowing of $8,000,000 at any time through 19X7 with the following terms:\n(a) Borrowings are available at Entity A's requ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1239d5f4fa7ba562766ede177d7a6a05d28f708f56e4892bb1e3ebc34642074f","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-17","para":"55-17","html":"
The Entity's intention to refinance meets the condition specified by paragraph 470-10-45-14. Compliance with the provisions listed in (d) of the preceding paragraph is objectively determinable or measurable; therefore, the condition specified by paragraph 470-10-45-14(b)(1) is met. The proceeds of borrowings under the agreement are clearly available for the liquidation of the 9 percent notes payable and the long-term debt maturing in February 19X6. Both obligations, therefore, would be classified as other than current liabilities.
","snippet":"The Entity's intention to refinance meets the condition specified by paragraph 470-10-45-14. Compliance with the provisions listed in (d) of the preceding paragraph is objectively determinable or measurable; therefore, t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3241ffca822eeec0b936e6456eeb8483c1ea3bf1166fca280b86ce2bbb091f9f","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-18","para":"55-18","html":"
Following are the liability section of Entity A's balance sheet at December 31, 19X5, and the related note disclosures required by this Subtopic, based on the information in paragraphs
470-10-55-15 through 55-16
. Because the balance sheet is issued subsequent to the February 19X6 maturity of the long-term debt, the note describes the refinancing of that obligation.
","snippet":"Following are the liability section of Entity A's balance sheet at December 31, 19X5, and the related note disclosures required by this Subtopic, based on the information in paragraphs 470-10-55-15 through 55-16. Because…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42356bcb8ee1580a7e7d7169367c16facb886efab8754599e3dcd2d8529cf238","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-19","para":"55-19","html":"
A foreign subsidiary of the Entity negotiates a financing agreement with its local bank in December 19X5. Funds are available to the subsidiary for its unrestricted use, including loans to affiliated entities; other terms are identical to those cited in Case A. Local laws prohibit the transfer of funds outside the country.
","snippet":"A foreign subsidiary of the Entity negotiates a financing agreement with its local bank in December 19X5. Funds are available to the subsidiary for its unrestricted use, including loans to affiliated entities; other term…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eee4f4e6157ad093a5c446f673de67fc04feaa0067b4ae8d9fcad70f46e2c41b","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-20","para":"55-20","html":"
The requirement of paragraph 470-10-45-14(b)(1) is met because compliance with the provisions of the agreement is objectively determinable or measurable. Because of the laws prohibiting the transfer of funds, however, the proceeds from borrowings under the agreement are not available for liquidation of the debt maturing in February and July 19X6. Accordingly, both the 6 percent debt maturing in February 19X6 and the 9 percent notes payable maturing in July 19X6 would be classified as current liabilities.
","snippet":"The requirement of paragraph 470-10-45-14(b)(1) is met because compliance with the provisions of the agreement is objectively determinable or measurable. Because of the laws prohibiting the transfer of funds, however, th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0b8180ac2469d7d736b9e3d4633c18110e1a63fee47dbf6a8f663f24a383aac0","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-21","para":"55-21","html":"
In this Case, the Entity issues $8,000,000 of 10-year debentures to the public in January 19X6. The Entity intends to use the proceeds to liquidate the $5,000,000 debt maturing February 19X6 and the $3,000,000 of 9 percent notes payable maturing July 19X6. In addition, assume the debt maturing February 19X6 is paid before the issuance of the balance sheet, and the remaining proceeds from the sale of debentures are invested in a U.S. Treasury note maturing the same day as the 9 percent notes payable.
","snippet":"In this Case, the Entity issues $8,000,000 of 10-year debentures to the public in January 19X6. The Entity intends to use the proceeds to liquidate the $5,000,000 debt maturing February 19X6 and the $3,000,000 of 9 perce…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ee0d4a6e2f4848e034d68cc0881fd96fb3ec501142fbb13d023f9f37dea9dca","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-22","para":"55-22","html":"
Because the Entity refinanced the long-term debt maturing in February 19X6 in a manner that meets the conditions set forth in paragraph 470-10-45-14, that obligation would be excluded from current liabilities. In addition, the 9 percent notes payable maturing in July 19X6 would also be excluded because the Entity has obtained funds expressly intended to be used to liquidate those notes and not intended to be used in current operations. In balance sheets after the date of sale of the debentures and before the maturity date of the notes payable, the Entity would exclude the notes payable from current liabilities if the U.S. Treasury note is excluded from current assets (see paragraph 210-10-45-4).
","snippet":"Because the Entity refinanced the long-term debt maturing in February 19X6 in a manner that meets the conditions set forth in paragraph 470-10-45-14, that obligation would be excluded from current liabilities. In additio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e286bdec7c0ac0fcc2b51111ccd74a60d51d13ba4059abf5a90fb342847df1f1","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-23","para":"55-23","html":"
If the debentures had been sold before January 1, 19X6, the $8,000,000 of obligations to be paid would be excluded from current liabilities in the balance sheet at that date if the $8,000,000 in funds were excluded from current assets.
","snippet":"If the debentures had been sold before January 1, 19X6, the $8,000,000 of obligations to be paid would be excluded from current liabilities in the balance sheet at that date if the $8,000,000 in funds were excluded from …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7937bd45aed94b5f6d7d03579e57480582cdf1a1b67da7873c9ac0f66b75c835","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-24","para":"55-24","html":"
If, instead of issuing the 10-year debentures, the Entity had issued $8,000,000 of equity securities and all other facts in this Case remained unchanged, both the 6 percent debt due February 19X6 and the 9 percent notes payable due July 19X6 would be classified as liabilities other than current liabilities, such as Indebtedness Due in 19X6 Refinanced in January 19X6.
","snippet":"If, instead of issuing the 10-year debentures, the Entity had issued $8,000,000 of equity securities and all other facts in this Case remained unchanged, both the 6 percent debt due February 19X6 and the 9 percent notes …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d62e47c4f5d5f9e6bfffcbebfbcae7f4383bfc916c4699eed994cb209033b7e3","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-25","para":"55-25","html":"
In December 19X5 the Entity negotiates a revolving credit agreement providing for unrestricted borrowings up to $10,000,000. Borrowings will bear interest at 1 percent over the prevailing prime rate of the bank with which the agreement is arranged but in any event not less than 8 percent, will have stated maturities of 90 days, and will be continuously renewable for 90-day periods at the Entity's option for 3 years provided there is compliance with the terms of the agreement. Provisions of the agreement are similar to those cited in paragraph 470-10-55-16(d). Further, the Entity intends to renew obligations incurred under the agreement for a period extending beyond one year from the balance sheet date. There are no outstanding borrowings under the agreement at December 31, 19X5.
","snippet":"In December 19X5 the Entity negotiates a revolving credit agreement providing for unrestricted borrowings up to $10,000,000. Borrowings will bear interest at 1 percent over the prevailing prime rate of the bank with whic…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53591d30be7b1f925bee24771359f71b0ba27b9ed2d310e858b9b33a874a6bfc","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-26","para":"55-26","html":"
In this instance, the long-term debt maturing in February 19X6 and the 9 percent notes payable maturing in July 19X6 would be excluded from current liabilities because the Entity consummated a financing agreement meeting the conditions set forth in paragraph 470-10-45-14(b) before the issuance of the balance sheet.
","snippet":"In this instance, the long-term debt maturing in February 19X6 and the 9 percent notes payable maturing in July 19X6 would be excluded from current liabilities because the Entity consummated a financing agreement meeting…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d190922490a2174a3675d3d868cff092dbc7df2f2358a37cf901d4bed9e0ddc6","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-27","para":"55-27","html":"
Assume that the agreement cited in Case D included an additional provision limiting the amount to be borrowed by the Entity to the amount of its inventory, which is pledged as collateral and is expected to range between a high of $8,000,000 during the second quarter of 19X6 and a low of $4,000,000 during the fourth quarter of 19X6.
","snippet":"Assume that the agreement cited in Case D included an additional provision limiting the amount to be borrowed by the Entity to the amount of its inventory, which is pledged as collateral and is expected to range between …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b3b2b5de22651deb6a536add14dea66082fd1c6d82a73fb2f031bab83a72094","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-28","para":"55-28","html":"
The terms of the agreement comply with the conditions required by this Subtopic; however, because the minimum amount expected to be available from February to December 19X6 is $4,000,000, only that amount of short-term obligations can be excluded from current liabilities (see paragraphs
470-10-45-16 through 45-19
). Whether the obligation to be excluded is a portion of the currently maturing long-term debt or some portions of both it and the 9 percent notes payable depends on the intended timing of the borrowing.
","snippet":"The terms of the agreement comply with the conditions required by this Subtopic; however, because the minimum amount expected to be available from February to December 19X6 is $4,000,000, only that amount of short-term o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:899c114acff9bcdab4dcbfb2d07fc7fcdb03a55ba289eb12fc7e12ab79e0a5d9","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-29","para":"55-29","html":"
If the Entity intended to refinance only the 9 percent notes payable due July 19X6 and the amount of its inventory is expected to reach a low of approximately $2,000,000 during the second quarter of 19X6 but be at least $3,000,000 in July 19X6 and thereafter during 19X6, the $3,000,000 9 percent notes payable would be excluded from current liabilities at December 31, 19X5 (see paragraphs
470-10-45-16 through 45-19
).
","snippet":"If the Entity intended to refinance only the 9 percent notes payable due July 19X6 and the amount of its inventory is expected to reach a low of approximately $2,000,000 during the second quarter of 19X6 but be at least …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a3527a214f09e665b3042a47aa6854a57cd0b20c76517f434741e74aee585b92","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-30","para":"55-30","html":"
In lieu of the facts given in paragraph 470-10-55-15(c) through (d), assume that during 19X5 the Entity entered into a contract to have a warehouse built. The warehouse is expected to be financed by issuance of the Entity's commercial paper. In addition, the Entity negotiated a standby agreement with a commercial bank that provides for maximum borrowings equal to the expected cost of the warehouse, which will be pledged as collateral. The agreement also requires that the proceeds from the sale of commercial paper be used to pay construction costs. Borrowings may be made under the agreement only if the Entity is unable to issue new commercial paper. The proceeds of borrowings must be used to retire outstanding commercial paper and to liquidate additional liabilities incurred in the construction of the warehouse. At December 31, 19X5, the Entity has $7,000,000 of commercial paper outstanding and $1,000,000 of unpaid construction costs resulting from a progress billing through December 31.
","snippet":"In lieu of the facts given in paragraph 470-10-55-15(c) through (d), assume that during 19X5 the Entity entered into a contract to have a warehouse built. The warehouse is expected to be financed by issuance of the Entit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b9be4cd231d4f6f3d99895f258ef2a8b2674ee6651d60e28415aae5216abeb1d","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-31","para":"55-31","html":"
Because the commercial paper will be refinanced on a long-term basis, either by uninterrupted renewal or, failing that, by a borrowing under the agreement, the commercial paper would be excluded from current liabilities. The $1,000,000 liability for the unpaid progress billing results from the construction of a noncurrent asset and will be refinanced on the same basis as the commercial paper and, therefore, it would also be excluded from current liabilities (see paragraph 470-10-45-13).
","snippet":"Because the commercial paper will be refinanced on a long-term basis, either by uninterrupted renewal or, failing that, by a borrowing under the agreement, the commercial paper would be excluded from current liabilities.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ca1a8283bc677ba6f4944dce58ee9657229a25c02966989253dcfc34764baec9","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-32","para":"55-32","html":"
The following are two methods of presenting liabilities in Entity A's balance sheet at December 31, 19X5, assuming the Entity intends to refinance the 6 percent debt maturing in February 19X6 and the 9 percent notes payable maturing in July 19X6 but has not met the conditions required by this Subtopic to exclude those obligations from current liabilities.
","snippet":"The following are two methods of presenting liabilities in Entity A's balance sheet at December 31, 19X5, assuming the Entity intends to refinance the 6 percent debt maturing in February 19X6 and the 9 percent notes paya…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:78c597319e15301b4275af6130e95885e8da2ff9e18ee831b007317b8777a28d","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-33","para":"55-33","html":"
This Example illustrates the guidance in paragraph 470-10-45-15.
","snippet":"This Example illustrates the guidance in paragraph 470-10-45-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dcee7d80e532ccff5f4fe7072866481056efd47cf3e7cddf2899ffca15810052","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-34","para":"55-34","html":"
This Example has the following assumptions:
  1. a
    An Entity has issued $3,000,000 of short-term commercial paper during the year to finance construction of a plant.
  2. b
    At June 30, 1976, the Entity's fiscal year end, the Entity intends to refinance the commercial paper by issuing long-term debt. However, because the Entity temporarily has excess cash, in July 1976 it liquidates $1,000,000 of the commercial paper as the paper matures.
  3. c
    In August 1976, the Entity completes a $6,000,000 long-term debt offering.
  4. d
    Later during the month of August, it issues its June 30, 1976, financial statements.
  5. e
    The proceeds of the long-term debt offering are to be used to do all of the following:
    1. 1
      Replenish $1,000,000 in working capital
    2. 2
      Pay $2,000,000 of commercial paper as it matures in September 1976
    3. 3
      Pay $3,000,000 of construction costs expected to be incurred later that year to complete the plant.
","snippet":"This Example has the following assumptions:\n(a) An Entity has issued $3,000,000 of short-term commercial paper during the year to finance construction of a plant.\n(b) At June 30, 1976, the Entity's fiscal year end, the E…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eeb543ed392e42b979ab2f4e65649fd438d2a266fc80b71a7b32224104961f7c","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-35","para":"55-35","html":"
The $1,000,000 of commercial paper liquidated in July would be classified as a current liability in the Entity's balance sheet at June 30, 1976. The $2,000,000 of commercial paper liquidated in September 1976 but refinanced by the long-term debt offering in August 1976 would be excluded from current liabilities in balance sheets at the end of June 1976, July 1976, and August 1976. It should be noted that the existence of a financing agreement at the date the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) rather than a completed financing at that date would not change these classifications.
","snippet":"The $1,000,000 of commercial paper liquidated in July would be classified as a current liability in the Entity's balance sheet at June 30, 1976. The $2,000,000 of commercial paper liquidated in September 1976 but refinan…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a978044a5498ff43e56931d7ef866a7df1bc756a3e541348178c4e0a63dfa06c","downloaded_from":"2026-09-10T00:30:39.266Z","last_downloaded_at":"2026-09-10T00:30:39.266Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481515","source_sha256":"7e560fcc40237db344c17f8a470f4320afb2361e781069619313b03c4790d118"}},{"citation":"470-10-55-36","para":"55-36","html":"
At the end of August 1976, $2,000,000 of cash would be excluded from current assets or, if included in current assets, a like amount of debt would be classified as a current liability.
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For classification guidance on a liability representing the underfunded status of a single-employer defined benefit postretirement plan, see Subtopic 715-20.
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Paragraph superseded by Accounting Standards Update No. 2020-06.
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For guidance on the appropriate accounting if the face amount of a note does not reasonably represent the present value of the consideration given or received in the exchange, see paragraphs
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For guidance on the classification of obligations under leases, see paragraphs
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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Annual Report Superseded Accounting Standards Update No. 2020-09 10/22/2020
Finance Subsidiary Superseded Accounting Standards Update No. 2020-09 10/22/2020
Full and Unconditional Guarantee Superseded Accounting Standards Update No. 2020-09 10/22/2020
Minor Subsidiary Superseded Accounting Standards Update No. 2020-09 10/22/2020
Operating Subsidiary Superseded Accounting Standards Update No. 2020-09 10/22/2020
Parent Company with No Independent Assets or Operations Superseded Accounting Standards Update No. 2020-09 10/22/2020
Quarterly Report Superseded Accounting Standards Update No. 2020-09 10/22/2020
Wholly Owned Subsidiary Superseded Accounting Standards Update No. 2020-09 10/22/2020
470-10-S50-6 through S50-8
 Amended Accounting Standards Update No. 2020-09 10/22/2020
470-10-S50-9 through S50-11
 Superseded Accounting Standards Update No. 2020-09 10/22/2020
470-10-S65-1 Added Accounting Standards Update No. 2020-09 10/22/2020
470-10-S99-1 Amended Accounting Standards Update No. 2020-09 10/22/2020
470-10-S99-1 Amended Accounting Standards Update No. 2019-07 07/26/2019
470-10-S99-1 Amended Accounting Standards Update No. 2010-21 08/02/2010
470-10-S99-1A Added Accounting Standards Update No. 2020-09 10/22/2020
470-10-S99-1B Added Accounting Standards Update No. 2020-09 10/22/2020
470-10-S99-3 Amended Accounting Standards Update No. 2012-03 08/27/2012
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See paragraph 210-10-S99-2, SAB Topic 6.H.1, for SEC Staff views on the applicability of the disclosure requirements pertaining to compensating balances and short-term borrowing arrangements.
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See paragraph 340-10-S99-2, SAB Topic 2.A.6, Question 2, for SEC Staff views on the amortization of debt issue costs for interim \"bridge financing.\"
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See paragraph 470-10-S99-4, SEC Observer Comment: Classification of Subsidiary's Loan Payable in Consolidated Balance Sheet when Subsidiary's and Parent's Fiscal Years Differ, for SEC Staff views on the presentation of such loans.
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Paragraph superseded on 08/19/2021 after the end of the transition period stated in SEC Release No. 33-10762, Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant's Securities.
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The following is the text of Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered (17 CFR 210.3-10).
","snippet":"The following is the text of Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered (17 CFR 210.3-10).\n(a) If an issuer or guarantor of a guarante…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d79000792243d4d48f523e86fb117224239b81f507a57684901c5e48ecac4103","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}},{"citation":"470-10-S99-1A","para":"S99-1A","html":"
The following is the text of Regulation S-X Rule 13-01, Guarantors and Issuers of Guaranteed Securities Registered or Being Registered (17 CFR 210.13-01).
","snippet":"The following is the text of Regulation S-X Rule 13-01, Guarantors and Issuers of Guaranteed Securities Registered or Being Registered (17 CFR 210.13-01).\n(a) For each guaranteed security subject to Section 13(a) or 15(d…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21bd756e842e7c874bf1c39fe20f9bef74acb9479c4543ed3221aaa04706596a","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}},{"citation":"470-10-S99-1B","para":"S99-1B","html":"
The following is the text of Regulation S-X Rule 13-02, Affiliates Whose Securities Collateralize Securities Registered or Being Registered (17 CFR 210.13-02).
","snippet":"The following is the text of Regulation S-X Rule 13-02, Affiliates Whose Securities Collateralize Securities Registered or Being Registered (17 CFR 210.13-02).\nThe requirements of this section shall apply to each securit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7cbcb6f3deeb9d6346480ce204b0cb4329a316c4adc5833ac6e197ecb6519cc1","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a23da1e025dc20fd13b1b66dfddd770b9ca6c5228e202fb2b2343faff5965dd7","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}},{"block":null,"heading":"SEC Staff Guidance","paragraphs":[{"citation":"470-10-S99-2","para":"S99-2","html":"
The following is the text of SAB Topic 4.A, Subordinated Debt.
","snippet":"The following is the text of SAB Topic 4.A, Subordinated Debt.\nFacts: Company E proposes to include in its registration statement a balance sheet showing its subordinate debt as a portion of stockholders' equity.\nQuestio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:682fbf7639799fb08427e1a08c73628446f9ecab5464e8bbcb84a6409600566a","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}},{"citation":"470-10-S99-3","para":"S99-3","html":"
The following is the text of SAB Topic 6.H.2, Classification of Short-term Obligations—Debt Related to Long-Term Projects.
","snippet":"The following is the text of SAB Topic 6.H.2, Classification of Short-term Obligations—Debt Related to Long-Term Projects.\nFacts: Companies engaging in significant long-term construction programs frequently arrange for r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0dd2813225bb1198e415848a10a87dfe9fc00b0819cfdb5fb8780bb34c0a2db2","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}},{"citation":"470-10-S99-4","para":"S99-4","html":"
The following is the text of SEC Observer Comment: Classification of Subsidiary's Loan Payable in Consolidated Balance Sheet when Subsidiary's and Parent's Fiscal Years Differ.
","snippet":"The following is the text of SEC Observer Comment: Classification of Subsidiary's Loan Payable in Consolidated Balance Sheet when Subsidiary's and Parent's Fiscal Years Differ.\nIssues periodically occur related to classi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39b37961c3350fc3b740985276b479203312b504cfd5e9b787263b3e572369dd","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8db7e7646da4e72ef3850bb2d5c5aad93d7aa789d13e965ca09e4eb788b61825","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c601dc9f634878bcdd4e2890e39f620df58e6fbf076e75b7f83d33f7b76ef01","downloaded_from":"2026-09-10T00:31:04.047Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480097","source_sha256":"88d41c9f0f528ef1a0f15485c40ddb678d5ebeea5d10c692fe0d63e565c3fb0f"}}],"enrichment":{"summary":"ASC 470-10 is the Overall subtopic of the Debt topic and governs a borrower's balance sheet classification (current vs. noncurrent) of specific obligations: short-term obligations expected to be refinanced, due-on-demand loans, callable debt and covenant violations, revolving credit agreements with lock-box arrangements and subjective acceleration clauses, increasing-rate debt, sales of future revenue, and indexed debt. Core rules: callable and demand obligations are current unless a waiver/cure exception applies (470-10-45-10 through 45-11), and a short-term obligation may be excluded from current liabilities only if the entity intends to refinance long term and demonstrates ability via post-balance-sheet issuance of long-term debt/equity or a qualifying financing agreement (470-10-45-14). It also sets debt-versus-deferred-income classification for proceeds from sales of future revenue and disclosure requirements for maturities, unused lines of credit, and refinancings.","key_points":["Obligations due on demand, or that will become due on demand within one year (or operating cycle, if longer) of the balance sheet date, are current liabilities even if liquidation is not expected; a demand provision is not a subjective acceleration clause (470-10-45-10).","Long-term obligations that are or will be callable because of a covenant violation at the balance sheet date are current liabilities unless the creditor has waived or lost the right to demand repayment for more than one year, or it is probable the violation will be cured within a stated grace period (470-10-45-11).","Where a lender waives its call right for more than one year while retaining future covenant tests, the debt is noncurrent unless both a violation existed (or would have absent modification) at the balance sheet date and it is probable the borrower cannot cure at measurement dates within the next 12 months (470-10-45-1; Example 1 at 470-10-55-2).","A short-term obligation is excluded from current liabilities only if the entity intends to refinance on a long-term basis and that intent is supported by post-balance-sheet-date issuance of long-term debt or equity securities, or by a financing agreement meeting the noncancelable/objectively determinable-covenant, no-violation, and financially capable lender conditions (470-10-45-14); the excluded amount is capped by proceeds or amounts available (470-10-45-16 through 45-19).","Repaying a short-term obligation with current assets after the balance sheet date and later replenishing working capital with long-term financing does not permit exclusion from current liabilities (470-10-45-15; Example 5 at 470-10-55-33).","Revolver borrowings subject to both a subjective acceleration clause and a lock-box arrangement are short-term obligations classified as current unless the 470-10-45-14 refinancing conditions are met under a separate agreement (470-10-45-5); a springing lock-box arrangement leaves the borrowings long term, with the subjective acceleration clause evaluated under 470-10-45-2.","For sales of future revenue, factors such as the transaction not purporting to be a sale, significant continuing involvement, cancelability, a capped investor return, or investor recourse create a rebuttable presumption of debt classification (470-10-25-2); debt is amortized under the interest method and deferred income under the units-of-revenue method (470-10-35-3)."],"categories":["Presentation","Debt and equity","Disclosure","Financial statement presentation"],"audience_level":"intermediate","student_note":"Balance sheet classification of debt is a recurring exam and practice issue: the classic trap is assuming that a post-year-end covenant waiver or a rollover of short-term borrowings automatically supports noncurrent classification — the waiver must extend more than one year (or a grace-period cure must be probable), and refinancing ability must be demonstrated by an actual long-term issuance or a qualifying, noncancelable financing agreement before the statements are issued.","related_topics":["470-20","470-50","470-60","480-10","835-30","210-10"],"key_concepts":["current versus noncurrent classification","short-term obligations expected to be refinanced","subjective acceleration clause","lock-box arrangement","debt covenant violation and waiver","callable debt","sales of future revenue","increasing-rate debt"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4df18be23243eb8eb2a52e6d3ed1cc24b635a61bdffb5501334b1c479847252c","downloaded_from":"2026-09-10T00:30:14.064Z","last_downloaded_at":"2026-09-10T00:31:04.047Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"470-50","title":"Modifications and Extinguishments","topic_title":"Debt","score":0.7938,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b86364890d5f4a714ab6360d2511de2cae2c6693d1cda259deebd9d131bda0d7","downloaded_from":"2026-09-10T00:32:44.546Z","last_downloaded_at":"2026-09-10T00:33:07.253Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"470-60","title":"Troubled Debt Restructurings by Debtors","topic_title":"Debt","score":0.7753,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:32acc5a2c30cf248839a94ab71166f4f566d82957b0a8ccb670b3014624abc84","downloaded_from":"2026-09-10T00:33:11.172Z","last_downloaded_at":"2026-09-10T00:33:34.628Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"480-10","title":"Overall","topic_title":"Distinguishing Liabilities from Equity","score":0.7618,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3814aff8e873064d831e048746d4e72dbbc19f808d30eaf48b6cf2a2bbc8d1d3","downloaded_from":"2026-09-10T00:35:26.644Z","last_downloaded_at":"2026-09-10T00:36:28.293Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"860-30","title":"Secured Borrowing and Collateral","topic_title":"Transfers and Servicing","score":0.7597,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:967e66be6286447ca41cb7a8697876bb964136b52b7dfdb056a5759ee1d55ff6","downloaded_from":"2026-09-10T02:06:50.852Z","last_downloaded_at":"2026-09-10T02:07:35.766Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"852-10","title":"Overall","topic_title":"Reorganizations","score":0.7543,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42fdb374d39c181dcffe37f0eaab4c6b8f25b9a6c5b55d7db4544e5bd6b415a1","downloaded_from":"2026-09-10T02:02:52.609Z","last_downloaded_at":"2026-09-10T02:03:24.197Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by 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