cost less accumulated depreciation

Assets3

1. 360-960Plan Accounting—Defined Benefit Pension Plans360 Property, Plant, and Equipment

   This Subtopic governs how a defined benefit pension plan accounts for property, plant, and equipment it uses in operating the plan (buildings, equipment, furniture and fixtures, leasehold improvements). Unlike plan investments, which are generally reported at fair value, these operating assets are presented at cost less accumulated depreciation or amortization (360-960-35-1). The rationale is that expenditures for operating assets are advance payments for future administrative services rather than investments expected to generate cash flows to pay benefits (360-960-35-2).

2. 360-962Plan Accounting—Defined Contribution Pension Plans360 Property, Plant, and Equipment

   This subtopic governs how a defined contribution pension plan accounts for property, plant, and equipment that the plan itself uses in its operations. The core rule is that such operating assets — buildings, equipment, furniture and fixtures, and leasehold improvements — are reported at cost less accumulated depreciation or amortization, rather than at fair value like investment assets.

3. 360-965Plan Accounting—Health and Welfare Benefit Plans360 Property, Plant, and Equipment

   This subtopic tells health and welfare benefit plans how to measure property, plant, and equipment on the plan's financial statements. Assets used in plan operations (buildings, equipment, furniture and fixtures, leasehold improvements) are carried at cost less accumulated depreciation or amortization, while real estate and other holdings held as plan investments are reported at fair value less costs to sell, if significant, as of the financial statement date.