intangible assets

ASC 350-10 is the Overall subtopic that sets the scope and structure for the Intangibles—Goodwill and Other Topic. It governs the subsequent measurement, presentation, and disclosure of goodwill and other intangible assets (through Subtopics 350-20, 350-30, 350-40, 350-50, and 350-60), but expressly excludes accounting at acquisition for goodwill and intangibles acquired in a business combination, an NFP acquisition, or recognized by a joint venture upon formation. It also directs that derecognition of nonfinancial assets within the Topic follow Subtopic 610-20 or Topic 606, as applicable.

ASC 350-908 tells airlines how to account for purchased take-off and landing slots. Because the Department of Transportation permits airlines to sell or trade slots, a purchased slot is a salable right recorded as an intangible asset under Topic 350 (350-908-25-1). Slots acquired by exchanging slots with another airline are nonmonetary assets measured under Topic 845 and then accounted for under Topic 350 (350-908-35-2).

This Subtopic addresses how airlines account for exchanges of take-off and landing slots. Slots received in an exchange with another airline are nonmonetary assets and must be recorded under the general nonmonetary transaction guidance in Topic 845 (845-908-25-1), with related intangible asset guidance in Subtopic 908-350. Its scope is the same as the airline industry Overall Subtopic scope in Section 908-10-15.