{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/50/#50-disclosure","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.","topic":"470","topic_title":"Debt","subtopic":"470-50","subtopic_title":"Modifications and Extinguishments","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-50-50-1","para":"50-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_63B22D45-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If debt was considered to be extinguished by <a href=\"/glossary/i/#in-substance-defeasance\" class=\"term\" title=\"Placement by the debtor of amounts equal to the principal, interest, and prepayment penalties related to a debt instrument in an irrevocable trust established for the benefit of the creditor.\"><span>in-substance defeasance</span></a> under the provisions of FASB Statement No. 76, <em class=\"ph i\">Extinguishment of Debt,</em> before the effective date of FASB Statement No. 125, <em class=\"ph i\">Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities,</em> a general description of the transaction and the amount of debt that is considered extinguished at the end of each period that debt remains outstanding shall be disclosed.</span></span></div></div>","snippet":"If debt was considered to be extinguished by in-substance defeasance under the provisions of FASB Statement No. 76, Extinguishment of Debt, before the effective date of FASB Statement No. 125, Accounting for Transfers an…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81f47c8111f3b68c6e1311b01621c5e2863ff78d335ba7373ffc17f1ff0a9906","downloaded_from":"2026-09-10T00:33:01.603Z","last_downloaded_at":"2026-09-10T00:33:01.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481244","source_sha256":"6e463d89e234de471c80f7056fb3bf15b4d2bcf3a8a03a1457c699880e6f2c5b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:096d4fb88bd5529f73563a1a647f8efdead8b61db0a6f5ba9f1ae279a8724d4c","downloaded_from":"2026-09-10T00:33:01.603Z","last_downloaded_at":"2026-09-10T00:33:01.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481244","source_sha256":"6e463d89e234de471c80f7056fb3bf15b4d2bcf3a8a03a1457c699880e6f2c5b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b76883a33434d83926a1a7e166afada15cc40e22fc92f2b5e58b3603c73b32fe","downloaded_from":"2026-09-10T00:33:01.603Z","last_downloaded_at":"2026-09-10T00:33:01.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481244","source_sha256":"6e463d89e234de471c80f7056fb3bf15b4d2bcf3a8a03a1457c699880e6f2c5b"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b76883a33434d83926a1a7e166afada15cc40e22fc92f2b5e58b3603c73b32fe","downloaded_from":"2026-09-10T00:33:01.603Z","last_downloaded_at":"2026-09-10T00:33:01.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481244","source_sha256":"6e463d89e234de471c80f7056fb3bf15b4d2bcf3a8a03a1457c699880e6f2c5b"}}