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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Contract Added Accounting Standards Update No. 2014-09 05/28/2014
Contract Liability Added Accounting Standards Update No. 2014-09 05/28/2014
Customer Added Accounting Standards Update No. 2014-09 05/28/2014
Retrospective Insurance Arrangements Superseded Accounting Standards Update No. 2014-09 05/28/2014
Revenue Added Accounting Standards Update No. 2014-09 05/28/2014
605-20-05-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
605-20-05-2 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-20-05-3 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-20-15-2 Amended Accounting Standards Update No. 2014-09 05/28/2014
605-20-15-3 Amended Accounting Standards Update No. 2014-09 05/28/2014
605-20-25-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
605-20-25-2 through 25-5
 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-20-25-6 Amended Accounting Standards Update No. 2014-09 05/28/2014
605-20-25-7 through 25-19
 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-20-50-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
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This Subtopic specifies the accounting for the provision for losses on separately priced extended warranty and product maintenance contracts.
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The guidance in this Subtopic applies to all entities.
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The guidance in this Subtopic applies to the following service activities and arrangements:
  1. a
    Separately priced extended warranty and product maintenance contracts.
  2. b
    Subparagraph superseded by Accounting Standards Update No. 2014-09.
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2014-09.
  4. d
    Subparagraph superseded by Accounting Standards Update No. 2014-09.
  5. e
    Subparagraph superseded by Accounting Standards Update No. 2014-09.
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The guidance in this Subtopic does not apply to the following service activities and arrangements:
  1. a
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  2. b
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  3. c
    Guarantees required to be accounted for as financial guarantee insurance contracts in accordance with Topic 944 on insurance.
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Separately priced contracts for extended warranty and product maintenance contracts provide warranty protection or product services and the contract price of these contracts is not included in the original price of the product covered by the contracts.
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A loss shall be recognized on extended warranty or product maintenance contracts if the sum of the expected costs of providing services under the contracts and any asset recognized for the incremental cost of obtaining a contract exceeds the related unearned revenue (contract liability). Extended warranty or product maintenance contracts shall be grouped in a consistent manner to determine if a loss exists. A loss shall be recognized first by charging to expense any recognized asset for the incremental costs of obtaining a contract, determined in accordance with the guidance in paragraphs
340-40-25-1 through 25-4
for contracts within scope of Topic 606 on revenue from contracts with customers. If the loss is greater than the recognized asset for the incremental costs of obtaining a contract, a liability shall be recognized for the excess.
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A separately priced contract is one whose price is not included in the original price of the covered product. If expected costs of providing the services plus any capitalized incremental cost of obtaining the contract exceed the related unearned revenue (contract liability), a loss must be recognized.","key_points":["The Subtopic applies to all entities but now covers only separately priced extended warranty and product maintenance contracts (605-20-15-1; 605-20-15-2(a)).","It does not apply to guarantees accounted for as derivatives under Section 815-10-15, to ordinary product warranties (other than extended warranty/maintenance contracts), or to financial guarantee insurance contracts under Topic 944 (605-20-15-3).","A contract is 'separately priced' when the contract price for warranty protection or product services is not included in the original price of the covered product (605-20-25-1).","A loss is recognized when expected costs of providing services plus any asset recognized for incremental costs of obtaining the contract exceed the related unearned revenue (contract liability) (605-20-25-6).","Contracts must be grouped in a consistent manner to determine whether a loss exists (605-20-25-6).","The loss is charged first against any recognized asset for incremental costs of obtaining a contract (determined under 340-40-25-1 through 25-4), and only the excess is recognized as a liability (605-20-25-6).","Revenue recognition for these contracts is now governed by Topic 606; 605-20's revenue and disclosure paragraphs were superseded by ASU 2014-09 (605-20-25-2 through 25-5; 605-20-50-1)."],"categories":["Revenue","Recognition","Contingencies and guarantees","Subsequent measurement"],"audience_level":"intermediate","student_note":"Remember that 605-20 is a remnant: revenue on extended warranties is recognized under Topic 606, and only the loss/onerous-contract rule stays here. The common mistake is applying it to ordinary (assurance-type) product warranties bundled into the product price — those go to Topic 460/606, not 605-20.","related_topics":["606","340-40","460","815-10","944"],"key_concepts":["separately priced extended warranty","product maintenance contract","onerous contract loss","unearned revenue","contract liability","incremental costs of obtaining a contract","product warranty","contract grouping"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:892a77d01f0d443e5373277f53bd5392806243dbccf3a319ae2359b0e39ed94d","downloaded_from":"2026-09-10T00:42:09.507Z","last_downloaded_at":"2026-09-10T00:42:36.164Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"605-10","title":"Overall","topic_title":"Revenue 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