Accounting Standards Updates—Effective Dates - FASB

For those entities, this guidance should be applied retrospectively to the date Topic 606 was adopted. Accounting Standards Update Update 2021- ... WehaveupdatedourPrivacyPolicy.Bycontinuingtousethiswebsite,youareagreeingtothenewPrivacyPolicyandanyupdatedwebsiteTerms. NOTICEregardinguseofcookies: WehaveupdatedourPrivacyPolicytoreflectouruseofcookiestocollectandprocessdata,ortoenhancetheuserexperience.Bycontinuingtousethiswebsite,youagreetotheplacementofthesecookiesandtosimilartechnologiesasdescribedinourPrivacyPolicy. FAF FASB GASB RSS Youtube Twitter LinkedIn Facebook FASBHome››STANDARDS››AccountingStandardsUpdates—EffectiveDates AccountingStandardsUpdates—EffectiveDates AccountingStandardsUpdates(Updated:November2021) TheFASBdocumentslistedbelowareincludedonthispageduringthetimetheamendmentsarebeingapplied,consideringallpossiblefiscalperiods.  ThefulltextoftheFASBdocumentscanbedownloadedbytheircorrespondinglinks. CopyrightNoticeforFASBPronouncementsListedBelow Copyright© byFinancialAccountingFoundation.Allrightsreserved.ContentcopyrightedbyFinancialAccountingFoundationmaynotbereproduced,storedinaretrievalsystem,ortransmitted,inanyformorbyanymeans,electronic,mechanical,photocopying,recording,orotherwise,withoutthepriorwrittenpermissionoftheFinancialAccountingFoundation.FinancialAccountingFoundationclaimsnocopyrightinanyportionhereofthatconstitutesaworkoftheUnitedStatesGovernment.   FINALDOCUMENT DATEISSUED EFFECTIVEDATES AccountingStandardsUpdates AccountingStandardsUpdate2021-10—GovernmentAssistance(Topic832):DisclosuresbyBusinessEntitiesaboutGovernmentAssistance [Download] November2021 TheamendmentsinthisUpdateareeffectiveforallentitieswithintheirscopeforfinancialstatementsissuedforannualperiodsbeginningafterDecember15,2021.Earlyapplicationoftheamendmentsispermitted. AccountingStandardsUpdate2021-09—Leases(Topic842):DiscountRateforLesseesThatAreNotPublicBusinessEntities [Download] November2021 EntitiesthathavenotyetadoptedTopic842asofNovember11,2021arerequiredtoadopttheamendmentsinthisUpdateatthesametimethattheyadoptTopic842usingtheexistingtransitionprovisions. ForentitiesthathaveadoptedTopic842asofNovember11,2021,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2022.Earlierapplicationispermitted.EntitiesarerequiredtoapplytheamendmentsonamodifiedretrospectivebasistoleasesthatexistatthebeginningofthefiscalyearofadoptionofafinalUpdate.Theadoptionoftheamendmentsshouldnotbeconsideredaneventthatwouldcauseremeasurementandreallocationoftheconsiderationinthecontract(includingleasepayments)orreassessmentofleasetermorclassification. AccountingStandardsUpdate2021-08—BusinessCombinations(Topic805):AccountingforContractAssetsandContractLiabilitiesfromContractswithCustomers [Download] October2021 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2022,includinginterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2023,includinginterimperiodswithinthosefiscalyears.Earlyadoptionoftheamendmentsispermitted,includingadoptioninaninterimperiod. AccountingStandardsUpdate2021-07—Compensation—StockCompensation(Topic718):DeterminingtheCurrentPriceofanUnderlyingShareforEquity-ClassifiedShare-BasedAwards(aconsensusofthePrivateCompanyCouncil) [Download] October2021 ThepracticalexpedientiseffectiveprospectivelyforallqualifyingawardsgrantedormodifiedduringfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2022.Earlyapplication,includingapplicationinaninterimperiod,ispermittedforfinancialstatementsthathavenotyetbeenissuedormadeavailableforissuanceasofOctober25,2021. AccountingStandardsUpdate2021-05—Leases(Topic842):Lessors—CertainLeaseswithVariableLeasePayments {Download] July2021 EffectiveforfiscalyearsbeginningafterDecember15,2021,forallentities,andinterimperiodswithinthosefiscalyearsforpublicbusinessentitiesandinterimperiodswithinfiscalyearsbeginningafterDecember15,2022,forallotherentities. AccountingStandardsUpdate2021-04—EarningsPerShare(Topic260),Debt—ModificationsandExtinguishments(Subtopic470-50),Compensation—StockCompensation(Topic718),andDerivativesandHedging—ContractsinEntity’sOwnEquity(Subtopic815-40):Issuer’sAccountingforCertainModificationsorExchangesofFreestandingEquity-ClassifiedWrittenCallOptions(aconsensusoftheFASBEmergingIssuesTaskForce) [Download] May2021 TheamendmentsinthisUpdateareeffectiveforallentitiesforfiscalyearsbeginningafterDecember15,2021,includinginterimperiodswithinthosefiscalyears.Earlyadoptionispermittedforallentities,includingadoptioninaninterimperiod. AccountingStandardsUpdate2021-03—Intangibles—GoodwillandOther(Topic350):AccountingAlternativeforEvaluatingTriggeringEvents [Download] March2021 TheamendmentsinthisUpdateareeffectiveonaprospectivebasisforfiscalyearsbeginningafterDecember15,2019.EarlyadoptionispermittedforbothinterimandannualfinancialstatementsthathavenotyetbeenissuedormadeavailableforissuanceasofMarch30,2021.AnentityshouldnotretroactivelyadopttheamendmentsinthisUpdateforinterimfinancialstatementsalreadyissuedintheyearofadoption.   TheamendmentsinthisUpdatealsoincludeanunconditionalone-timeoptionfor entitiestoadoptthealternativeprospectivelyafteritseffectivedatewithoutassessingpreferability underTopic250,AccountingChangesandErrorCorrections. AccountingStandardsUpdateUpdate2021-02—Franchisors—RevenuefromContractswithCustomers(Subtopic952-606):PracticalExpedient [Download] January2021 IfanentityhasnotyetadoptedTopic606,theexistingtransitionprovisionsandeffectivedateinparagraph606-10-65-1arerequired.ThatguidanceallowsforanoptionofmodifiedretrospectivetransitionorfullretrospectivetransitionandaneffectivedateofannualreportingperiodsbeginningafterDecember15,2019,andinterimreportingperiodswithinannualreportingperiodsbeginningafterDecember15,2020. IfanentityhasalreadyadoptedTopic606,theamendmentsinthisUpdateareeffectiveininterimandannualperiodsbeginningafterDecember15,2020.Earlyapplicationispermitted.Forthoseentities,thisguidanceshouldbeappliedretrospectivelytothedateTopic606wasadopted. AccountingStandardsUpdateUpdate2021-01—ReferenceRateReform(Topic848):Scope [Download] January2021 TheamendmentsinthisUpdateareeffectiveimmediatelyforallentities. AccountingStandardsUpdate2020-11—FinancialServices—Insurance(Topic944):EffectiveDateandEarlyApplication [Download] November2020 TheamendmentsinthisUpdateamendthemandatoryeffectivedatesandearlyapplicationrequirementsofAccountingStandardsUpdateNo.2018-12,FinancialServices—Insurance(Topic944):TargetedImprovementstotheAccountingforLong-DurationContracts,forallentitiesasfollows: PublicbusinessentitiesthatmeetthedefinitionofaSecuritiesandExchangeCommission(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,forfiscalyearsbeginningafterDecember15,2022,andinterimperiodswithinthosefiscalyears Forallotherentities,forfiscalyearsbeginningafterDecember15,2024,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2025 Forentitiesthatelectearlyapplication,thetransitiondatemaybethebeginningofthepriorperiodpresentedratherthanthebeginningoftheearliestperiodpresented. AccountingStandardsUpdate2020-10—CodificationImprovements [Download] October2020 TheamendmentsinSectionsBandCofthisUpdateareeffectiveforannualperiodsbeginningafterDecember15,2020,forpublicbusinessentities.Forallotherentities,theamendmentsareeffectiveforannualperiodsbeginningafterDecember15,2021,andinterimperiodswithinannualperiodsbeginningafterDecember15,2022. AccountingStandardsUpdate2020-08—CodificationImprovementstoSubtopic310-20,Receivables—NonrefundableFeesandOtherCosts [Download] October2020 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyears,andinterimperiodswithinthosefiscalyears,beginningafterDecember15,2020.Earlyapplicationisnotpermitted.   Forallotherentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2022.Earlyapplicationispermittedforallotherentitiesforfiscalyears,andinterimperiodswithinthosefiscalyears,beginningafterDecember15,2020.   AllentitiesshouldapplytheamendmentsinthisUpdateonaprospectivebasisasofthebeginningoftheperiodofadoptionforexistingornewlypurchasedcallabledebtsecurities.TheseamendmentsdonotchangetheeffectivedatesforUpdate2017-08. AccountingStandardsUpdate2020-07—Not-for-ProfitEntities(Topic958):PresentationandDisclosuresbyNot-for-ProfitEntitiesforContributedNonfinancialAssets [Download] September2020 TheamendmentsinthisUpdateshouldbeappliedonaretrospectivebasisandareeffectiveforannualperiodsbeginningafterJune15,2021,andinterimperiodswithinannualperiodsbeginningafterJune15,2022.Earlyadoptionispermitted. AccountingStandardsUpdate2020-06—Debt—DebtwithConversionandOtherOptions(Subtopic470-20)andDerivativesandHedging—ContractsinEntity’sOwnEquity(Subtopic815-40):AccountingforConvertibleInstrumentsandContractsinanEntity’sOwnEquity [Download] August2020 TheamendmentsinthisUpdateareeffectiveforpublicbusinessentitiesthatmeetthedefinitionofaSecuritiesandExchangeCommission(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,forfiscalyearsbeginningafterDecember15,2021,includinginterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2023,includinginterimperiodswithinthosefiscalyears.Earlyadoptionispermitted,butnoearlierthanfiscalyearsbeginningafterDecember15,2020,includinginterimperiodswithinthosefiscalyears.TheBoardspecifiedthatanentityshouldadopttheguidanceasofthebeginningofitsannualfiscalyear.  AnentitythathasnotyetadoptedtheamendmentsinAccountingStandardsUpdateNo.2017-11,EarningsPerShare(Topic260),DistinguishingLiabilitiesfromEquity(Topic480),DerivativesandHedging(Topic815):(PartI)AccountingforCertainFinancialInstrumentswithDownRoundFeatures,and(PartII)ReplacementoftheIndefiniteDeferralforMandatorilyRedeemableFinancialInstrumentsofCertainNonpublicEntitiesandCertainMandatorilyRedeemableNoncontrollingInterestswithaScopeException,canearlyadopttheamendmentsinthisUpdateforconvertibleinstrumentsthatincludeadownroundfeature.ThisearlyadoptionispermittedforfiscalyearsbeginningafterDecember15,2019. AccountingStandardsUpdate2020-05—RevenuefromContractswithCustomers(Topic606)andLeases(Topic842):EffectiveDatesforCertainEntities [Download] June2020 RevenuefromContractswithCustomers   TheamendmentsinthisUpdatedefer,foroneyear,therequiredeffectivedateofRevenueforentities,thatarenotpublicbusinessentities,thatasofJune3,2020havenotyetissuedtheirfinancialstatements(ormadefinancialstatementsavailableforissuance)reflectingtheadoptionofRevenue.ThoseentitiesmayelecttoadopttheguidanceforannualreportingperiodsbeginningafterDecember15,2019andforinterimreportingperiodswithinannualreportingperiodsbeginningafterDecember15,2020.Earlyadoptionispermitted.   Leases TheeffectivedatesforLeasesafterapplyingthisUpdateareasfollows: PublicbusinessentitiesandemployeebenefitplansthatfileorfurnishfinancialstatementswithortotheSECforfiscalyearsbeginningafterDecember15,2018,includinginterimperiodswithinthosefiscalyears (Unchanged) Not-for-profitentitiesthathaveissuedorareconduitbondobligorsforsecuritiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarketandthatasofJune3,2020haveissuedfinancialstatements(ormadeavailableforissuance)reflectingtheadoptionofLeasesforfiscalyearsbeginningafterDecember15,2018,includinginterimperiodswithinthosefiscalyears (Unchanged) Not-for-profitentitiesthathaveissuedorareconduitbondobligorsforsecuritiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarketandthatasofJune3,2020havenotissuedfinancialstatements(ormadeavailableforissuance)reflectingtheadoptionofLeasesforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears (Amended) AllotherentitiesforfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2022 (Amended) Earlyapplicationcontinuestobeallowed. AccountingStandardsUpdate2020-04—ReferenceRateReform(Topic848):FacilitationoftheEffectsofReferenceRateReformonFinancialReporting [Download] March2020 TheamendmentsinthisUpdateareeffectiveforallentitiesasofMarch12,2020throughDecember31,2022. AccountingStandardsUpdate2020-03—CodificationImprovementstoFinancialInstruments [Download] March2020 Issues1,2,4and5 TheamendmentsrelatedtoIssue1,Issue2,Issue4,andIssue5areconformingamendments.Forpublicbusinessentities,theamendmentsareeffectiveuponissuanceofthisfinalUpdate.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyearsbeginningafterDecember15,2020.Earlyapplicationispermitted. Issue3 TheamendmentrelatedtoIssue3isaconformingamendmentthataffectstheguidanceintheamendmentsinAccountingStandardsUpdate2019-04,CodificationImprovementstoTopic326,FinancialInstruments—CreditLosses,Topic815,DerivativesandHedging,andTopic825,FinancialInstruments.Thatguidancerelatestotheamendmentsin2016-01,FinancialInstruments—Overall(Subtopic825-10):RecognitionandMeasurementofFinancialAssetsandFinancialLiabilities.TheeffectivedateofUpdate2019-04fortheamendmentstoUpdate2016-01isforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears.   Issues6and7 ForentitiesthathavenotyetadoptedtheamendmentsrelatedtoUpdate2016-13,theeffectivedatesandthetransitionrequirementsfortheseamendmentsarethesameastheeffectivedateandtransitionrequirementsinUpdate2016-13. ForentitiesthathaveadoptedtheguidanceinUpdate2016-13,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears.Forthoseentities,theamendmentsshouldbeappliedonamodified-retrospectivebasisbymeansofacumulative-effectadjustmenttoopeningretainedearningsinthestatementoffinancialpositionasofthedatethatanentityadoptedtheamendmentsinUpdate2016-13. AccountingStandardsUpdate2020-01—Investments—EquitySecurities(Topic321),Investments—EquityMethodandJoint Ventures(Topic323),andDerivativesandHedging(Topic815)—ClarifyingtheInteractionsbetweenTopic321,Topic323,andTopic815(aconsensusoftheEmergingIssuesTaskForce) [Download] January2020 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinthosefiscalyears.Earlyadoptionispermitted,includingearlyadoptioninaninterimperiod,(1)forpublicbusinessentitiesforperiodsforwhichfinancialstatementshavenotyetbeenissuedand(2)forallotherentitiesforperiodsforwhichfinancialstatementshavenotyetbeenmadeavailableforissuance. AccountingStandardsUpdate2019-12—IncomeTaxes(Topic740):SimplifyingtheAccountingforIncomeTaxes [Download] December2019 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyears,andinterimperiodswithinthosefiscalyears,beginningafterDecember15,2020.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2022.Earlyadoptionoftheamendmentsispermitted,includingadoptioninanyinterimperiodfor(1)publicbusinessentitiesforperiodsforwhichfinancialstatementshavenotyetbeenissuedand(2)allotherentitiesforperiodsforwhichfinancialstatementshavenotyetbeenmadeavailableforissuance.Anentitythatelectstoearlyadopttheamendmentsinaninterimperiodshouldreflectanyadjustmentsasofthebeginningoftheannualperiodthatincludesthatinterimperiod.Additionally,anentitythatelectsearlyadoptionmustadoptalltheamendmentsinthesameperiod. AccountingStandardsUpdate2019-11—CodificationImprovementstoTopic326,FinancialInstruments—CreditLosses [Download] November2019 ForentitiesthathavenotyetadoptedtheamendmentsinUpdate2016-13asoftheissuancedateofthisUpdate,theeffectivedatesandtransitionrequirementsfortheamendmentsarethesameastheeffectivedatesandtransitionrequirementsinUpdate2016-13.   ForentitiesthathaveadoptedtheamendmentsinUpdate2016-13,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears.EarlyadoptionispermittedinanyinterimperiodafterissuanceofthisUpdateaslongasanentityhasadoptedtheamendmentsinUpdate2016-13. AccountingStandardsUpdate2019-10—FinancialInstruments—CreditLosses(Topic326),DerivativesandHedging(Topic815),andLeases(Topic842):EffectiveDates [Download] November2019 TheamendmentsinthisUpdateamendcertaineffectivedatesforthefollowingmajorUpdates(includingamendmentsissuedaftertheissuanceoftheoriginalUpdate): AccountingStandardsUpdateNo.2016-13,FinancialInstruments—CreditLosses(Topic326):MeasurementofCreditLossesonFinancialInstruments(CreditLosses) AccountingStandardsUpdateNo.2017-12,DerivativesandHedging(Topic815):TargetedImprovementstoAccountingforHedgingActivities(Hedging) AccountingStandardsUpdateNo.2016-02,Leases(Topic842)(Leases).  CreditLosses TheamendmentsinthisUpdateamendthemandatoryeffectivedatesCreditLossesforallentitiesasfollows: PublicbusinessentitiesthatmeetthedefinitionofaSecuritiesandExchangeCommission(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,forfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears AllotherentitiesforfiscalyearsbeginningafterDecember15,2022,includinginterimperiodswithinthosefiscalyears Earlyapplicationcontinuestobeallowed.  ThisUpdatealsoamendsthemandatoryeffectivedatefortheeliminationofStep 2fromthegoodwillimpairmenttest(AccountingStandardsUpdateNo.2017-04,Intangibles—GoodwillandOther(Topic350):SimplifyingtheTestforGoodwillImpairment(Goodwill)).ThoseamendmentsmaintaintheBoard’sintentionalalignmentofthemandatoryeffectivedatesforGoodwillwiththoseforCreditLosses.EarlyapplicationofGoodwillcontinuestobeallowedforinterimandannualgoodwillimpairmenttestswithameasurementdateonorafterJanuary1,2017. Hedging TheeffectivedatesforHedgingafterapplyingthisUpdateareasfollows: PublicbusinessentitiesforfiscalyearsbeginningafterDecember15,2018,includinginterimperiodswithinthosefiscalyears(Unchanged) AllotherentitiesforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021(Amended) Earlyapplicationcontinuestobeallowed. Leases TheeffectivedatesforLeasesafterapplyingthisUpdateareasfollows: Publicbusinessentities;not-for-profitentitiesthathaveissuedorareconduitbondobligorsforsecuritiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarket;andemployeebenefitplansthatfileorfurnishfinancialstatementswithortotheSECforfiscalyearsbeginningafterDecember15,2018,includinginterimperiodswithinthosefiscalyears(Unchanged) Allotherentities:TheamendmentsinthisUpdateweresupersededbyAccountingStandardsUpdate2020-05. Earlyapplicationcontinuestobeallowed. AccountingStandardsUpdate2019-09—FinancialServices—Insurance(Topic944):EffectiveDate [Download] November2019 TheamendmentsinthisUpdatedeferthemandatoryeffectivedatesofAccountingStandardsUpdateNo.2018-12,FinancialServices—Insurance(Topic944):TargetedImprovementstotheAccountingforLong-DurationContracts(Insurance),forallentitiesasfollows: PublicbusinessentitiesthatmeetthedefinitionofaSecuritiesandExchangeCommission(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,forfiscalyearsbeginningafterDecember15,2021,andinterimperiodswithinthosefiscalyears Forallotherentities,forfiscalyearsbeginningafterDecember15,2023,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2024 Earlyapplicationcontinuestobeallowed. AccountingStandardsUpdateNo.2019-06—Intangibles—GoodwillandOther(Topic350),BusinessCombinations(Topic805),andNot-for-ProfitEntities(Topic958):ExtendingthePrivateCompanyAccountingAlternativesonGoodwillandCertainIdentifiableIntangibleAssetstoNot-for-ProfitEntities [Download] May2019 TheamendmentsareeffectiveuponissuanceofthisUpdate.Consistentwiththeexistingprivatecompanyalternativesforgoodwillandcertainintangibleassets,not-for-profitentitieselectingtoadoptthesealternativesdonothavetodemonstratepreferabilityandshouldfollowthetransitionguidancethefirsttimetheyelecttoadoptthealternatives.Not-for-profitentitieshavethesameopen-endedeffectivedateandunconditionalone-timeelectionthatprivatecompanieshave. AccountingStandardsUpdate2019-05—FinancialInstruments—CreditLosses(Topic326):TargetedTransitionRelief [Download] May2019 ForentitiesthathavenotyetadoptedtheamendmentsinUpdate2016-13,theeffectivedateandtransitionmethodologyfortheamendmentsinthisUpdatearethesameasinUpdate2016-13. ForentitiesthathaveadoptedtheamendmentsinUpdate2016-13,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears.EarlyadoptionispermittedinanyinterimperiodaftertheissuanceofthisUpdateaslongasanentityhasadoptedtheamendmentsinUpdate2016-13. Update2019-02—Entertainment—Films—OtherAssets—FilmCosts(Subtopic926-20)andEntertainment—Broadcasters—Intangibles—GoodwillandOther(Subtopic920-350):ImprovementstoAccountingforCostsofFilmsandLicenseAgreementsforProgramMaterials(aconsensusoftheEmergingIssuesTaskForce) [Download] March2019 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinthosefiscalyears.Earlyadoptionispermitted,includingearlyadoptioninaninterimperiod,(1)forpublicbusinessentitiesforperiodsforwhichfinancialstatementshavenotyetbeenissuedand(2)forallotherentitiesforperiodsforwhichfinancialstatementshavenotyetbeenmadeavailableforissuance. Update2019-01—Leases(Topic842):CodificationImprovements [Download] March2019 ThetransitionandeffectivedateprovisionsforthisUpdateapplytoIssue1andIssue2intheUpdate. TheydonotapplytoIssue3intheUpdatebecausetheamendmentsforthatIssuearetotheoriginaltransitionrequirementsinTopic842.  TheamendmentsinthisUpdateamendTopic842.ThatTopichasdifferenteffectivedatesforpublicbusinessentitiesandentitiesotherthanpublicbusinessentities.TheeffectivedateofthoseamendmentsisforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyearsforanyofthefollowing: Apublicbusinessentity Anot-for-profitentitythathasissued,orisaconduitbondobligorfor,securitiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarket AnemployeebenefitplanthatfilesfinancialstatementswiththeU.S.SecuritiesandExchangeCommission(SEC). Forallotherentities,theeffectivedateisforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021. Earlyapplicationispermitted.AnentityshouldapplytheamendmentsasofthedatethatitfirstappliedTopic842,usingthesametransitionmethodologyinaccordancewithparagraph842-10-65-1(c). Update2018-20—Leases(Topic842):Narrow-ScopeImprovementsforLessors [Download] December2018 TheamendmentsinthisUpdateaffecttheamendmentsinUpdate2016-02,whicharenotyeteffectivebutcanbeearlyadopted.TheeffectivedateandtransitionrequirementsfortheamendmentsinthisUpdateforentitiesthathavenotadoptedTopic842beforetheissuanceofthisUpdatearethesameastheeffectivedateandtransitionrequirementsinUpdate2016-02(forexample,January1,2019,forcalendar-year-endpublicbusinessentities).   ForentitiesthathaveadoptedTopic842beforetheissuanceofthisUpdate,thetransitionandeffectivedateoftheamendmentsinthisUpdateareasfollows: AnentityshouldapplytheamendmentsattheoriginaleffectivedateofTopic842fortheentity.Alternatively,theentityhastheoptiontoapplytheamendmentsineitherthefirstreportingperiodendingaftertheissuanceofthisUpdate(forexample,December31,2018)orinthefirstreportingperiodbeginningaftertheissuanceofthisUpdate(forexample,January1,2019). Anentitymayapplytheamendmentseitherretrospectivelyorprospectively.  Allentities,includingearlyadopters,mustapplytheamendmentsinthisUpdatetoallnewandexistingleases. Update2018-19—CodificationImprovementstoTopic326,FinancialInstruments—CreditLosses [Download] November2018 EffectivedateandtransitionrequirementsfortheamendmentsinthisUpdatearethesameastheeffectivedatesandtransitionrequirementsinUpdate2016-13,asamendedbythisUpdate. Update2018-18—CollaborativeArrangements(Topic808):ClarifyingtheInteractionbetweenTopic808andTopic606 [Download] November2018 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021.Earlyadoptionispermitted,includingadoptioninanyinterimperiod,(1)forpublicbusinessentitiesforperiodsforwhichfinancialstatementshavenotyetbeenissuedand(2)forallotherentitiesforperiodsforwhichfinancialstatementshavenotyetbeenmadeavailableforissuance.AnentitymaynotadopttheamendmentsearlierthanitsadoptiondateofTopic606. Update2018-17—Consolidation(Topic810):TargetedImprovementstoRelatedPartyGuidanceforVariableInterestEntities [Download] October2018 Forentitiesotherthanprivatecompanies,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyears.TheamendmentsinthisUpdateareeffectiveforaprivatecompanyforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021.AllentitiesarerequiredtoapplytheamendmentsinthisUpdateretrospectivelywithacumulative-effectadjustmenttoretainedearningsatthebeginningoftheearliestperiodpresented.Earlyadoptionispermitted. Update2018-16—DerivativesandHedging(Topic815):InclusionoftheSecuredOvernightFinancingRate(SOFR)OvernightIndexSwap(OIS)RateasaBenchmarkInterestRateforHedgeAccountingPurposes [Download] October2018 ForentitiesthathavenotalreadyadoptedUpdate2017-12,theamendmentsinthisUpdatearerequiredtobeadoptedconcurrentlywiththeamendmentsinUpdate2017-12.   ForpublicbusinessentitiesthatalreadyhaveadoptedtheamendmentsinUpdate2017-12,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2018,andinterimperiodswithinthosefiscalyears.ForallotherentitiesthatalreadyhaveadoptedtheamendmentsinUpdate2017-12,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyears.EarlyadoptionispermittedinanyinterimperioduponissuanceofthisUpdateifanentityalreadyhasadoptedUpdate2017-12. Update2018-15—Intangibles—GoodwillandOther—Internal-UseSoftware(Subtopic350-40):Customer’sAccountingforImplementationCostsIncurredinaCloudComputingArrangementThatIsaServiceContract(aconsensusoftheFASBEmergingIssuesTaskForce) [Download] August2018 EffectiveforpublicbusinessentitiesforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsinthisUpdateareeffectiveforannualreportingperiodsbeginningafterDecember15,2020,andinterimperiodswithinannualperiodsbeginningafterDecember15,2021.EarlyadoptionoftheamendmentsinthisUpdateispermitted,includingadoptioninanyinterimperiod,forallentities.TheamendmentsinthisUpdateshouldbeappliedeitherretrospectivelyorprospectivelytoallimplementationcostsincurredafterthedateofadoption. Update2018-14—Compensation—RetirementBenefits—DefinedBenefitPlans—General(Subtopic715-20):DisclosureFramework—ChangestotheDisclosureRequirementsforDefinedBenefitPlans [Download] August2018 EffectiveforfiscalyearsendingafterDecember15,2020,forpublicbusinessentitiesandforfiscalyearsendingafterDecember15, 2021,forallotherentities.Earlyadoptionispermittedforallentities. AnentityshouldapplytheamendmentsinthisUpdateonaretrospectivebasistoallperiodspresented. Update2018-12—FinancialServices—Insurance(Topic944):TargetedImprovementstotheAccountingforLong-DurationContracts [Download] August2018 ForpublicbusinessentitiesthatmeetthedefinitionofanU.S.SecuritiesandExchangeCommission(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,theamendmentsinthisUpdateareeffectiveforfiscalyears,andinterimperiodswithinthosefiscalyears,beginningafterDecember15,2021.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2023,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2024.Earlyapplicationoftheamendmentsispermitted. Update2018-11—Leases(Topic842):TargetedImprovements [Download] July2018 TheamendmentsinthisUpdaterelatedtoseparatingcomponentsofacontractaffecttheamendmentsinUpdate2016-02,whicharenotyeteffectivebutcanbeearlyadopted. ForentitiesthathavenotadoptedTopic842beforetheissuanceofthisUpdate,theeffectivedateandtransitionrequirementsfortheamendmentsinthisUpdaterelatedtoseparatingcomponentsofacontractarethesameastheeffectivedateandtransitionrequirementsinUpdate2016-02. ForentitiesthathaveadoptedTopic842beforetheissuanceofthisUpdate,thetransitionandeffectivedateoftheamendmentsrelatedtoseparatingcomponentsofacontractinthisUpdateareasfollows:  ThepracticalexpedientmaybeelectedeitherinthefirstreportingperiodfollowingtheissuanceofthisUpdateorattheoriginaleffectivedateofTopic842forthatentity. Thepracticalexpedientmaybeappliedeitherretrospectivelyorprospectively. Allentities,includingearlyadopters,thatelectthepracticalexpedientrelatedtoseparatingcomponentsofacontractinthisUpdatemustapplytheexpedient,byclassofunderlyingasset,toallexistingleasetransactionsthatqualifyfortheexpedientatthedateelected. Update2018-10—CodificationImprovementstoTopic842,Leases [Download]   July2018 TheamendmentsinthisUpdateaffecttheamendmentsinUpdate2016-02,whicharenotyeteffective,butforwhichearlyadoptionuponissuanceispermitted.ForentitiesthatearlyadoptedTopic842,theamendmentsareeffectiveuponissuanceofthisUpdate,andthetransitionrequirementsarethesameasthoseinTopic842.ForentitiesthathavenotadoptedTopic842,theeffectivedateandtransitionrequirementswillbethesameastheeffectivedateandtransitionrequirementsinTopic842. Update2018-06—CodificationImprovementstoTopic942,FinancialServices—DepositoryandLending [Download] May2018 EffectiveuponissuanceofthisUpdate. Update2018-01—Leases(Topic842):LandEasementPracticalExpedientforTransitiontoTopic842 [Download] January2018 TheamendmentsinthisUpdateaffecttheamendmentsinUpdate2016-02,which arenotyeteffectivebutmaybeearlyadopted,andExample10ofSubtopic350- 30.Theeffectivedateandtransitionrequirementsfortheamendmentsarethe sameastheeffectivedateandtransitionrequirementsinUpdate2016-02.An entitythatearlyadoptedTopic842shouldapplytheamendmentsinthisUpdate uponissuance. UpdateNo.2017-12—DerivativesandHedging(Topic815):TargetedImprovementstoAccountingforHedgingActivities [Download] August2017 Forpublicbusinessentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2018,andinterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsareeffectiveforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021.Earlyapplicationoftheamendmentsispermitted. UpdateNo.2017-11—EarningsPerShare(Topic260);DistinguishingLiabilitiesfromEquity(Topic480);DerivativesandHedging(Topic815):(PartI)AccountingforCertainFinancialInstrumentswithDownRoundFeatures,(PartII)ReplacementoftheIndefiniteDeferralforMandatorilyRedeemableFinancialInstrumentsofCertainNonpublicEntitiesandCertainMandatorilyRedeemableNoncontrollingInterestswithaScopeException [Download] July2017 Forpublicbusinessentities,theamendmentsinPartIofthisUpdateareeffectiveforfiscalyears,andinterimperiodswithinthosefiscalyears,beginningafterDecember15,2018.Forallotherentities,theamendmentsinPartIofthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2020.Earlyadoptionispermittedforallentities,includingadoptioninaninterimperiod.Ifanentityearlyadoptstheamendmentsinaninterimperiod,anyadjustmentsshouldbereflectedasofthebeginningofthefiscalyearthatincludesthatinterimperiod. TheamendmentsinPartIIofthisUpdatedonotrequireanytransitionguidancebecausethoseamendmentsdonothaveanaccountingeffect. Update2017-04—Intangibles—GoodwillandOther(Topic350):SimplifyingtheTestforGoodwillImpairment [Download] January2017 PublicbusinessentitiesthatmeetthedefinitionofanU.S.SecuritiesandExchange(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,shouldadopttheamendmentsinthisUpdateforitsannualoranyinterimgoodwillimpairmenttestsinfiscalyearsbeginningafterDecember15,2019.AllotherentitiesshouldadopttheamendmentsinthisUpdateforitsannualoranyinterimgoodwillimpairmenttestsinfiscalyearsbeginningafterDecember15,2022.EarlyadoptionispermittedforinterimorannualgoodwillimpairmenttestsperformedontestingdatesafterJanuary1,2017. Update2017-01—BusinessCombinations(Topic805):ClarifyingtheDefinitionofaBusiness [Download] January2017 PublicbusinessentitiesshouldapplytheamendmentsinthisUpdatetoannualperiodsbeginningafterDecember15,2017,includinginterimperiodswithinthoseperiods.AllotherentitiesshouldapplytheamendmentstoannualperiodsbeginningafterDecember15,2018,andinterimperiodswithinannualperiodsbeginningafterDecember15,2019. Update2016-20—TechnicalCorrectionsandImprovementstoTopic606,RevenuefromContractswithCustomers [Download] December2016 TheamendmentsinthisUpdateaffecttheguidanceinUpdate2014-09,whichisnotyeteffective.TheeffectivedateandtransitionrequirementsfortheamendmentsarethesameastheeffectivedateandtransitionrequirementsforTopic606(andanyotherTopicamendedbyUpdate2014-09).AccountingStandardsUpdateNo.2015-14,RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDate,deferstheeffectivedateofUpdate2014-09byoneyear. Update2016-17—Consolidation(Topic810):InterestsHeldthroughRelatedPartiesThatAreunderCommonControl [Download] October2016 TheamendmentsinthisUpdateareeffectiveforpublicbusinessentitiesforfiscalyearsbeginningafterDecember15,2016,includinginterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2016,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2017.Earlyadoptionispermitted,includingadoptioninaninterimperiod.Ifanentityearlyadoptstheamendmentsinaninterimperiod,anyadjustmentsshouldbereflectedasofthebeginningofthefiscalyearthatincludesthatinterimperiod. Update2016-13—FinancialInstruments—CreditLosses(Topic326):MeasurementofCreditLossesonFinancialInstruments [Download] June2016 ForpublicbusinessentitiesthatmeetthedefinitionofanU.S.SecuritiesandExchange(SEC)filer,excludingentitieseligibletobesmallerreportingcompaniesasdefinedbytheSEC,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2019,includinginterimperiodswithinthosefiscalyears.Forallotherentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2022,includinginterimperiodswithinthosefiscalyears.Earlyapplicationoftheamendmentsispermitted. Update2016-12—RevenuefromContractswithCustomers(Topic606):Narrow-ScopeImprovementsandPracticalExpedients [Download] May2016 TheamendmentsinthisUpdateaffecttheguidanceinAccountingStandardsUpdate2014-09,RevenuefromContractswithCustomers(Topic606),whichisnotyeteffective.TheeffectivedateandtransitionrequirementsfortheamendmentsinthisUpdatearethesameastheeffectivedateandtransitionrequirementsforTopic606(andanyotherTopicamendedbyUpdate2014-09).AccountingStandardsUpdate2015-14,RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDate,deferstheeffectivedateofUpdate2014-09byoneyear. Update2016-10—RevenuefromContractswithCustomers(Topic606):IdentifyingPerformanceObligationsandLicensing [Download] April2016 TheamendmentsinthisUpdateaffecttheguidanceinAccountingStandardsUpdate2014-09,RevenuefromContractswithCustomers(Topic606),whichisnotyeteffective.TheeffectivedateandtransitionrequirementsfortheamendmentsinthisUpdatearethesameastheeffectivedateandtransitionrequirementsinTopic606(andanyotherTopicamendedbyUpdate2014-09).AccountingStandardsUpdate2015-14,RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDate,deferstheeffectivedateofUpdate2014-09byoneyear. Update2016-08—RevenuefromContractswithCustomers(Topic606):PrincipalversusAgentConsiderations(ReportingRevenueGrossversusNet) [Download] March2016 TheamendmentsinthisUpdateaffecttheguidanceinAccountingStandardsUpdate2014-09,RevenuefromContractswithCustomers(Topic606),whichisnotyeteffective.TheeffectivedateandtransitionrequirementsfortheamendmentsinthisUpdatearethesameastheeffectivedateandtransitionrequirementsofUpdate2014-09.AccountingStandardsUpdateNo.2015-14,RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDate,deferstheeffectivedateofUpdate2014-09byoneyear. Update2016-03—Intangibles—GoodwillandOther(Topic350),BusinessCombinations(Topic805),Consolidation(Topic810),DerivativesandHedging(Topic815):EffectiveDateandTransitionGuidance(aconsensusofthePrivateCompanyCouncil) [Download] March2016 Theamendmentsareeffectiveimmediately. Update2016-02—Leases(Topic842) SectionA—Leases:AmendmentstotheFASBAccountingStandardsCodification® SectionB—ConformingAmendmentsRelatedtoLeases:AmendmentstotheFASBAccountingStandardsCodification® SectionC—BackgroundInformationandBasisforConclusions February2016 EffectiveforfiscalyearsbeginningafterDecember15,2018,includinginterimperiodswithinthosefiscalyears,foranyofthefollowing: Apublicbusinessentity Anot-for-profitentitythathasissued,orisaconduitbondobligorfor,securitiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarket AnemployeebenefitplanthatfilesfinancialstatementswiththeU.S.SecuritiesandExchangeCommission(SEC). Forallotherentities,theamendmentsinthisUpdateareeffectiveforfiscalyearsbeginningafterDecember15,2020,andinterimperiodswithinfiscalyearsbeginningafterDecember15,2021. EarlyapplicationoftheamendmentsinthisUpdateispermittedforallentities. Update2015-14—RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDate [Download] August2015 TheamendmentsinthisUpdatedefertheeffectivedateofUpdate2014-09forallentitiesbyoneyear.Publicbusinessentities,certainnot-for-profitentities,andcertainemployeebenefitplansshouldapplytheguidanceinUpdate2014-09toannualreportingperiodsbeginningafterDecember15,2017,includinginterimreportingperiodswithinthatreportingperiod.EarlierapplicationispermittedonlyasofannualreportingperiodsbeginningafterDecember15,2016,includinginterimreportingperiodswithinthatreportingperiod. AllotherentitiesshouldapplytheguidanceinUpdate2014-09toannualreportingperiodsbeginningafterDecember15,2018,andinterimreportingperiodswithinannualreportingperiodsbeginningafterDecember15,2019.AllotherentitiesmayapplytheguidanceinUpdate2014-09earlierasofanannualreportingperiodbeginningafterDecember15,2016,includinginterimreportingperiodswithinthatreportingperiod.AllotherentitiesalsomayapplytheguidanceinUpdate2014-09earlierasofanannualreportingperiodbeginningafterDecember15,2016,andinterimreportingperiodswithinannualreportingperiodsbeginningoneyearaftertheannualreportingperiodinwhichtheentityfirstappliestheguidanceinUpdate2014-09. UpdateNo.2014-09—RevenuefromContractswithCustomers(Topic606) SectionA—SummaryandAmendmentsThatCreateRevenuefromContractswithCustomers(Topic606)andOtherAssetsandDeferredCosts—ContractswithCustomers(Subtopic340-40) SectionB—ConformingAmendmentstoOtherTopicsandSubtopicsintheCodificationandStatusTables SectionC—BackgroundInformationandBasisforConclusions May2014 Update2015-14,RevenuefromContractswithCustomers(Topic606):DeferraloftheEffectiveDatedeferstheeffectivedateofUpdate2014-09forallentitiesbyoneyear.EarlierapplicationispermittedonlyasofannualreportingperiodsbeginningafterDecember15,2016,includinginterimreportingperiodswithinthatreportingperiod. Forapublicentity,effectiveforannualreportingperiodsbeginningafterDecember15,2016,includinginterimperiodswithinthatreportingperiod.Earlyapplicationisnotpermitted.Apublicentityisanentitythatisanyoneofthefollowing:(1)apublicbusinessentity,(2)anot-for-profitentitythathasissued,orisaconduitbondobligorfor,securitiesthataretraded,listed,orquotedonanexchangeoranover-the-countermarket,(3)anemployeebenefitplanthatfilesorfurnishesfinancialstatementstotheSEC. Forallotherentities(nonpublicentities),effectiveforannualreportingperiodsbeginningafterDecember15,2017,andinterimperiodswithinannualperiodsbeginningafterDecember15,2018.Anonpublicentitymayelecttoapplythisguidanceearlier,however,onlyasofthefollowing:(1)anannualreportingperiodbeginningafterDecember15,2016,includinginterimperiodswithinthatreportingperiod(publicentityeffectivedate),(2)anannualreportingperiodbeginningafterDecember15,2016,andinterimperiodswithinannualperiodsbeginningafterDecember15,2017,(3)anannualreportingperiodbeginningafterDecember15,2017,includinginterimperiodswithinthatreportingperiod. UpdateNo.2013-09—FairValueMeasurement(Topic820):DeferraloftheEffectiveDateofCertainDisclosuresforNonpublicEmployeeBenefitPlansinUpdateNo.2011-04 [Download] July2013 Thedeferralinthisamendmentiseffectiveuponissuance(July8,2013)forfinancialstatementsthathavenotbeenissued. 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