ASU 2013-03 — Financial Instruments (Topic 825)

The amendment in the Update clarifies the scope and applicability of a disclosure exemption that resulted from the issuance of Accounting Standards Update No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. The amendment clarifies that the requirement to disclose "the level of the fair value hierarchy within which the fair value measurements are categorized in their entirety (Level 1, 2, or 3)" does not apply to nonpublic entities for items that are not measured at fair value in the statement of financial position, but for which fair value is disclosed.

This Accounting Standards Update is the final version of Proposed Accounting Standards Update 2013-200—Financial Instruments (Topic 825) which has been deleted.

Issued: February 7, 2013