2017.06.08 - q2 2017 - 2017 us gaap taxonomy updates · the measurement date of an employer's...

The contents of this presentation are confidential. Copyright © 2017 Workiva.

2017 US GAAPTaxonomy Updates

June 2017

Presenter

John MueheTeam Manager of Professional Services

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• 2017 US GAAP Taxonomy overview• Accounting Standards Updates• Taxonomy Topical Project — Retirement Benefits• Dimensional Remodeling• New Technical Features• Other Changes

Agenda

Polling Question 1

2017 US GAAP Taxonomy Overview

Focus of 2017 US GAAP Taxonomy Changes

• Taxonomy stability• Simplification efforts to improve data usability

◦ Structural design changes◦ Topical project reviews

Overview of 2017 US GAAP Taxonomy Impact

• Large number of changes introduced◦ Accounting Standards Updates◦ Taxonomy projects◦ Dimensional remodeling

▪ New technical features

▪ Legal entities remodeling

◦ Industry-related changes

• Require significantly higher effort compared to prior years• Evaluate impact before migrating

Taxonomy Changes Comparison

New Elements Deprecated Elements Definition Changes Other Modifications Deleted Elements

3,500

3,000

2,500

2,000

1,500

1,000

500

0

2011 2012 2013 2014 2015 2016 2017

Summary of Changes—Year-Over-Year

Number of elements2017 2016 2015

Reference changes 1,070 1,077 343New elements 942 215 309Taxonomy Implementation Notes 941 303 —Definition changes 282 469 103Label changes 279 119 64Deprecated items 176 681 441Clarification and balance type change — 2 8

Subtotal 3,690 2,866 1,268Deleted elements 177 955 628

Total 3,867 3,821 1,896

Summary of Changes—by Source of Change

Number of elements

2017 ASUsRetirement

benefitsReference

project Other

Reference changes 1,070 77 7.2 % 123 11.5% 812 75.9% 58 5.4%

New elements 942 699 74.2 72 7.6 — — 171 18.2

Taxonomy Implementation Notes 941 674 71.6 98 10.4 — — 169 18.0

Definition changes 282 65 23.0 176 62.4 — — 41 14.5

Label changes 279 36 12.9 193 69.2 — — 50 17.9

Deprecated items 176 6 3.4 101 57.4 — — 69 39.2

Subtotal 3,690 1,557 42.2 % 763 20.7% 812 22.0% 558 15.1%

Deleted elements 177Total 3,867

Polling Question 2

Accounting Standards Updates

Summary of 2017 ASU Changes

Number of elements

ASU New Depre. Def. TIN Ref. Label2013-08 Financial Services—Investment Companies (Topic 946): Amendments to

the Scope, Measurement, and Disclosure Requirements 93 — — — — —

2014-09 Revenue from Contracts with Customers (Topic 606) 135 — 3 100 21 2

2015-04 Compensation—Retirement Benefits (Topic 715): Practical Expedient forthe Measurement Date of an Employer's Defined Benefit Obligation andPlan Assets — — — 2 — —

2015-07 Fair Value Measurement (Topic 820): Disclosures for Investments inCertain Entities That Calculate Net Asset Value per Share (or ItsEquivalent) (a consensus of the FASB Emerging Issues Task Force) 2 — — — — —

2016-01 Financial Instruments Overall (Subtopic 825-10): Recognition andMeasurement of Financial Assets and Financial Liabilities (1) 26 — — 19 — —

2016-02 Leases (Topic 842) 375 2 13 512 27 14

2016-03 Intangibles—Goodwill and Other (Topic 350); Business Combinations(Topic 805); Consolidation (Topic 810); Derivatives and Hedging (Topic815): Effective Date and Transition Guidance (a consensus of the PrivateCompany Council)

None

2016-04 Liabilities—Extinguishments of Liabilities (Subtopic 405-20): Recognitionof Breakage for Certain Prepaid Stored-Value Products (a consensus of theFASB Emerging Issues Task Force) 4 — — — — —

(1) Early adoption provisions


Number of elements

ASU New Depre. Def. TIN Ref. Label2016-05 Derivatives and Hedging (Topic 815): Effect of Derivative Contract

Novations on Existing Hedge Accounting Relationships (a consensus ofthe FASB Emerging Issues Task Force) 1 — — — — —

2016-06 Derivatives and Hedging (Topic 815): Contingent Put and Call Options inDebt Instruments (a consensus of the FASB Emerging Issues Task Force) 1 — — — — —

2016-07 Investments—Equity Method and Joint Venture (Topic 323): Simplifyingthe Transition to the Equity Method of Accounting 4 — — 3 — —

2016-08 Revenue from Contracts with Customers (Topic 606): Principal versusAgent Considerations (Reporting Revenue Gross versus Net) None

2016-09 Compensation—Stock Compensation (Topic 718): Improvements toEmployee Share-Based Payment Accounting 5 — 27 11 11 6

2016-10 Revenue from Contracts with Customers (Topic 606): IdentifyingPerformance Obligations and Licensing None

2016-11 Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic815): Rescission of SEC Guidance Because of Accounting StandardsUpdates 2014-09 and 2014-16 Pursuant to Staff Announcements at theMarch 3, 2016 EITF Meeting

Not included/not effective

2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-ScopeImprovements and Practical Expedients See ASU 2014-09


Number of elements

ASU New Depre. Def. TIN Ref. Label2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit

Losses on Financial Instruments Not included / Not effective

2016-14 Not-for-Profit Entities (Topic 958): Presentation of Financial Statementsof Not-for-Profit Entities None

2016-15 Statement of Cash Flows (Topic 230): Classification of Certain CashReceipts and Cash Payments 7 — 13 — 10 6

2016-16 Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other ThanInventory 3 — 2 — 2 —

2016-17 Consolidation (Topic 810): Interests Held through Related Parties ThatAre under Common Control 1 — — — — —

2016-18 Statement of Cash Flows (Topic 230): Restricted Cash 42 4 7 27 6 8

Total changes from ASUs 699 6 65 674 77 36

Identifying ASU Changes

ASU source names in the UGT:ASU Source Name2013-08 Investment Companies

2014-09 Revenue

2015-04 Measurement Date - Retirement Benefits

2015-07 Net Asset Value per Share

2016-01 Financial Instruments - Recognition and Measurement

2016-02 Leases

2016-04 Breakage for Prepaid Stored-value Products

2016-05 Derivatives and Hedging

2016-06 Derivatives and Hedging - Contingent Put and Call

2016-07 Simplifying the Equity Method of Accounting

2016-09 Share-Based Payment

2016-15 Classification of Cash

2016-16 Intra-entity Transfer

2016-17 Consolidation

2016-18 Restricted Cash

Revenue from Contracts with Customers (Topic 606)

New taxonomy section


New dimensions and line item conceptsmodeled for new requirements


Refer to FASB Taxonomy ImplementationGuide for modeling illustrations

Leases (Topic 842)

New taxonomy section providingmodeling for new requirements

Leases (Topic 842)

Refer to FASB Taxonomy ImplementationGuide for modeling illustrations

Statement of Cash Flows (Topic 230)

• Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15)• Restricted Cash (ASU 2016-18)

Classification of Cash (ASU 2016-15)

• New elements added:

• Other definition, label, and reference changes relate to:◦ Equity method investment distributions

◦ Life insurance and insurance settlement

◦ Collection of retained interest in securitized receivables

Standard Label

Accounting Standards Update 2016-15 [Member]

Consideration Received for Beneficial Interest Obtained for Transferring Financial Asset

Equity Method Investment, Distribution Received, Approach [Fixed List]

Payment for Contingent Consideration Liability, Financing Activities

Payment for Contingent Consideration Liability, Investing Activities

Payment for Contingent Consideration Liability, Operating Activities

Payment to Acquire Life Insurance Policy, Operating Activities

◦ Debt extinguishment or prepayment cost

◦ Interest paid

Restricted Cash (ASU 2016-18)

New line item concepts to include restricted cash and cash equivalents forcash flow statements

Restricted Cash (ASU 2016-18)

Additional line item concepts for otherrestricted cash and cash equivalentsdisclosures

Financial Instruments (ASU 2016-01)

New elements added:

Standard LabelAccounting Standards Update 2016-01 [Member]Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax

Parent NCIIncluding

NCI

Accumulated Gain (Loss), Financial Liability, Fair Value Option [Member] Yes Yes Yes

Other Comprehensive Income (Loss), Financial Liability, Fair Value Option,after Reclassification Adjustment [Abstract]

Before tax,Tax,After tax n/a

Before tax,Tax,After tax

Other Comprehensive Income (Loss), Financial Liability, Fair ValueOption, Unrealized Gain (Loss) Arising During Period n/a n/a


Other Comprehensive Income (Loss), Financial Liability, Fair ValueOption, Reclassification Adjustment from AOCI for Derecognition n/a n/a


Other Comprehensive Income (Loss), Financial Liability, Fair ValueOption, after Reclassification Adjustment





Example — Statement of comprehensive income (loss)2016 2015 2014

Net earnings $ 8,000 $ 7,000 $ 6,000Other comprehensive income (loss) adjustments, net of tax:

Currency translation (50) (100) (90)Debt valuation adjustment (550) — —Pension and postretirement liabilities (200) 150 (100)Cash flow hedges — — (10)

Other comprehensive income (loss) (800) 50 (200)Comprehensive income $ 7,200 $ 7,050 $ 5,800


Example — AOCI roll forwardBeginning

balanceAdjustments,

net of taxEndingbalance

Currency translation $ (600) $ (50) $ (650)Debt valuation adjustment 300 (550) (250)Pension and postretirement liabilities (150) (200) (350)Cash flow hedges (50) — (50)

Total accumulated other comprehensive income $ (500) $ (800) $ (1,300)

Share-Based Payments (ASU 2016-09)

New elements added:

Standard LabelAccounting Standards Update 2016-09 [Member]Cash Proceeds Received and Tax Benefit from Share-Based Payment Awards [Table Text Block]Share-Based Compensation, Forfeitures [Policy Text Block]Share-Based Compensation, Forfeiture Method [Fixed List]Employee Service Share-Based Compensation, Tax Benefit from Exercise of Stock Options

Share-Based Payments (ASU 2016-09)

Existing elements applicable for prior periods only if adopted prospectively

Taxonomy Topical Project – Retirement Benefits

Taxonomy Topical Project – Retirement Benefits

• Improve data quality• Reduce inconsistencies and redundancies• Will cover multiple releases

◦ Phase 1 (in 2017 Taxonomy)▪ Evaluating elements for consistency

▪ Improving modeling

▪ Excludes elements related to plan assets

▪ Refer to 2017 FASB TIG "Retirement Benefits—Phase 1"

◦ Future phases▪ Review of elements and structure for plan assets

▪ Address common reporting practices

Retirement Benefits – Significant Changes

72 new elements• Line item concepts: 44

◦ monetaryItemType: 33

◦ percentItemType: 7

◦ integerItemType: 1

◦ yearItemType: 1

◦ stringItemType: 2

• Dimensions: 19◦ [Axis]: 5

◦ [Domain]: 5

◦ [Member]: 9

• [Extensible List]: 7• [Abstract]: 2

2017

2017


3 axes deprecated –defined benefit plans anddefined contribution plansdisclosures to share thesame axes (Retirement Plan)

20172016

2016


2 new dimensions for disaggregatinginformation by tax status and funding status

2017


6 members deprecated – split into separate dimensions by plan type and sponsor location

2017

2016

2016


Extension


Not for tagging

Serves as parent todomestic country member

only

May serve as parent toforeign country members, or

used for tagging foreignplans collectively

Polling Question 3

Retirement Benefits – Custom Migration Paths2016

2016

2017

2017

Retirement Benefits – Additional Migration Notes

• Extensions mirroring 2017 newmembers will migrateautomatically:

◦ QualifiedPlanMember◦ NonqualifiedPlanMember

• However, manual migrationis required to move from adeprecated 2016 axis to theappropriate new axis

2017

2017


Any other extensions or misused axis/member will not be auto-migrated• For example:

◦ (ext) Nonqualified Pension Plan [Member]

◦ (ext) U.S. Qualified Pension Plan [Member]

◦ Using "Geographical [Axis]/UNITED STATES" to identify domestic plan

◦ Using "Defined Contribution Plan Name [Axis]/Foreign Postretirement Benefit Plan[Member]"


• Deprecated elements related to FAS 158 and other outdated guidance• Migration paths are provided for most of the other deprecated elements • 3 highly utilized plan assets/obligations rollforward concepts are split into

separate assets and obligations concepts

2016 Taxonomy (Deprecated elements) 2017 Taxonomy (New elements)

Defined Benefit Plan, Benefits PaidDefined Benefit Plan, Benefit Obligation, Benefits Paid

Defined Benefit Plan, Plan Assets, Benefits Paid

Defined Benefit Plan, Contribution by Plan Participants

Defined Benefit Plan, Benefit Obligation, Contribution by PlanParticipants

Defined Benefit Plan, Plan Assets, Contribution by PlanParticipants

Defined Benefit Plan, Gross Prescription Drug SubsidyReceipts Received

Defined Benefit Plan, Benefit Obligation, Gross PrescriptionDrug Subsidy Receipts Received

Defined Benefit Plan, Plan Assets, Gross Prescription DrugSubsidy Receipts Received

Dimensional Remodeling

Dimensional Remodeling

Addresses concerns of consumers of data• Using dimensions for information that is not disaggregating values• Inconsistent use of dimensions between filings• Unnecessary dimensions

Current Dimensional Modeling

Four ways in which dimensions are currently used in the Taxonomy*• Disaggregation (e.g., Property, Plant and Equipment, Type [Axis])

◦ Main purpose of dimensional modeling

◦ Sum of components equals total

• Associated Facts (e.g., Business Acquisition [Axis])◦ Relate electronic data and group concepts

◦ Sum of members may equal total, but is not the key defining attribute

• Fact Attributes (e.g., Range [Axis])◦ Provides additional information

◦ Sum of components have no meaningful total

• Multiple Dates (e.g., Debt Instrument, Redemption, Period [Axis])◦ Differentiate by date periods at a point in time

◦ Link current facts to a specific time period

* Reference the Proposed FASB Style Guide on Dimension Uses

Legal Entities Remodeling

• To separate relationship/association to filing entity, entity names, andownership status from one axis

• Two new axes added◦ Consolidated Entities [Axis]◦ Ownership [Axis]

• Existing Legal Entity [Axis] repurposed

Legal Entities Remodeling

2016 2017

Expects entity name extensions only

Expects entity name extensions only

Legal Entities Remodeling – Custom Migration Paths

2016 2017

Legal Entities Remodeling – Custom Migration Paths

2016

2017

Legal Entities Remodeling – Ownership Disclosures

Carefully evaluate entity names for ownership stakeRule of thumb:• Legal Entity [Axis] – use for entity owners• Ownership [Axis] – use for entities being owned• Regardless of disclosure wording

100%

60% 40%

Monkey KingLLC

Bear LLC

Panda CorpElephant

Energy Corp

Legal Entity [Axis]

Entity [Domain]

Panda Corp [Member]

Elephant Energy Corp [Member]

Bear LLC [Member]

Ownership [Axis]

Ownership [Domain]

Bear LLC [Member]

Monkey King LLC [Member]

Legal Entities Remodeling – Additional Migration Notes

2016

• Low usage combinations are notincluded in custom migration paths

• Utilize Related Party [Axis] whereapplicable

• Refer to (Proposed) FASB TIG"Dimensional Modeling for Disclosuresof Consolidated and NonconsolidatedEntities"

Polling Question 4

New Technical Features

Fixed Lists

• Used to constrain values for more consistent and comparable data • Limits selection to an explicit list of standard values only

◦ Modifications or customizations are not allowed

Fixed Lists

New Fixed Lists (2) can be identified by "[Fixed List]"

Standard Label Enumerations (Acceptable values) Type of ChangeEquity Method Investment,Distribution Received,Approach [Fixed List]

"Cumulative earnings","Nature of distribution"

Statement of Cash Flows (Topic 230):Classification of Certain Cash Receipts andCash Payments (a consensus of the FASBEmerging Issues Task Force)

Share-based Compensation,Forfeiture Method [Fixed List]

"Estimating expected forfeitures","Recognizing forfeitures when they occur"

Compensation—Stock Compensation (Topic718): Improvements to Employee Share-Based Payment Accounting

Fixed Lists

Labels for existing Fixed Lists are not updated yet• us-types:yesNoItemType — "Yes" or "No" only• Acceptable values are listed within concept documentation• Select examples —Standard Label Enumerations (Acceptable values)Multiemployer Plans, Funded Status "Less than 65 percent",,"Between 65 and less than 80 percent",

"At least 80 percent", "NA"

Common Stock, Shares Authorized, Unlimited "Unlimited"

Investment Owned, on Loan Flag "Investment on Loan", "Entire Investment on Loan", "Partial Investment on Loan"

Variable Interest Entity, Nonexistence Flag "Yes", "No" (us-types:yesNoItemType)Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Type

"Floating", "Fixed"

Malpractice Insurance, Occurrence or Claims-made "Occurrence", "Claims-made"

Extensible Lists

• Used for providing additional information about a fact that is not adisaggregating property of that fact

◦ Dimensions have been used for this purpose in legacy modeling

◦ Applies to all items within the same dimensional context (with or withoutmembers)

• Allows selection from a list of standard values as well as custom values◦ Similar to creating extension members under standard axes

• Acceptable values should be an element (line item concept or member)used in the filing taxonomy (standard and extended taxonomies)

◦ As explained in Taxonomy Implementation Notes (TINs)

Extensible Lists Phase-In

• Phase 1 updates in 2017 UGT◦ Identified by "[Extensible List]" (us-types:extensibleListItemType)◦ Limited to 3 taxonomy sections

▪ 300000 — Disclosure — Cash and Cash Equivalents (9)

▪ 730000 — Disclosure — Compensation Related Costs, Retirement Benefits (7)

▪ 842000 — Disclosure — Leases, Codification Topic 842 (11)

◦ No impact to legacy modeling in other sections

• Phase 2 updates in 2018 UGT◦ Become us-types:enumerationsItemType◦ Will be validated against the filing taxonomies◦ Legacy modeling may be updated

Extensible Lists — Wdesk Implementation

• Considered optional tagging• Tagged in a non-printing section• Include the prefix from the XBRL element

◦ Standard: "us-gaap:"◦ Extended: "abc:" (your extension prefix)

• Multiple elements may be used

Extensible Lists — Restricted Cash and Cash Equivalents

300000 — Disclosure — Cash and Cash Equivalents (9)• Fact values — line item concepts on Balance Sheets

Standard Label

Restricted Cash, Asset, Statement of Financial Position [Extensible List]

Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List]

Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]

Restricted Cash Equivalents, Asset, Statement of Financial Position [Extensible List]

Restricted Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]

Restricted Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]

Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]

Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]

Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]

Extensible Lists — Leases Under Topic 842

842000 — Disclosure — Leases, Codification Topic 842 (11)• Fact values — line item concepts on Balance Sheets or Income Statements

Standard LabelFinance Lease, Liability, Statement of Financial Position [Extensible List]

Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]

Operating Lease, Liability, Statement of Financial Position [Extensible List]

Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]

Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]

Direct Financing Lease, Income, Comprehensive Income [Extensible List]

Operating Lease, Income, Comprehensive Income [Extensible List]

Sales-type Lease, Income, Comprehensive Income [Extensible List]

Extensible Lists — Retirement Benefits

730000 — Disclosure — Compensation Related Costs, Retirement Benefits (7)• Fact values — members on corresponding retirement plan axis

Standard Label Standard Label

Defined Benefit Plan, Sponsor Location [Extensible List] Defined Contribution Plan, Sponsor Location [Extensible List]

Defined Benefit Plan, Tax Status [Extensible List] Defined Contribution Plan, Tax Status [Extensible List]

Defined Benefit Plan, Type [Extensible List] Defined Contribution Plan, Type [Extensible List]

Defined Benefit Plan, Funding Status [Extensible List]

Use of Dimensions vs. Extensible Lists

• Use Axis and Members when disclosure represents a disaggregation• Use Extensible List when adding information about a dimensional context• For reportwide or domain totals

◦ Do not use Axis and Members when not disaggregating◦ When Extensible List is used, it conveys that the attribute applies to all

reportwide values, or to the specific dimensional context • Do not use either to convey redundant information already included in the

line item concepts

Use of Dimensions vs. Extensible Lists — Scenario 1

* Example 4a in the Retirement Benefits FASB Implementation Guide

Fact value is theelement ID of the

member under thecorresponding axis

Use of Dimensions vs. Extensible Lists — Scenario 2


Complete disaggregation for each plan —

use "Retirement Plan Funding Status [Axis]" A4, and

"Funded Plan [Member]" M12 and "Unfunded Plan [Member]" M15

Use of Dimensions vs. Extensible Lists — Scenario 3a


Additional information (not disaggregating) —

use "Retirement Plan Funding Status [Extensible List]" XL4(Fact values — "us-gaap:FundedPlanMember" and "us-gaap:UnfundedPlanMember")

- or -

Use of Dimensions vs. Extensible Lists — Scenario 3b

* Example 5 in the Lease Under Topic 842 FASB Implementation Guide

Additional information (not disaggregating) —

use "Sale-type Lease, Income, Comprehensive Income [Extensible List]" XL55(Fact value — "us-gaap:OtherOperatingIncome")

Typed Dimensions

• Used for associating related facts• Acceptable members are restricted to a specific data format

◦ dateItemType in 2017 UGT

• Only 1 usage is included in 2017 UGT

[Axis] without default[Domain] or any [Member]

Typed Dimensions

Typed Dimensions — Revenue from Contract with Customer

* Example 3 in the Revenue from Contracts with Customers FASB Implementation Guide

Typed Dimensions — Revenue from Contract with Customer


Note that Typed Dimension [Axis]has no children in the XBRL outline

Taxonomy Disclosure Templates

• "Ready-to-use" outline structures◦ Simplify element discovery◦ Based on TIG examples◦ Usage is not flexible

▪ Can add element, but cannot remove or reorder

▪ No preferred labels

• Limited to 3 taxonomy sections in 2017 UGT◦ 60600# — Disclosure — Revenue from Contract with Customer TIG Template 01–05 (5)◦ 7301## — Disclosure — Compensation Related Costs, Retirement Benefits TIG Template

01a–14b (28)◦ 842#00 — Disclosure — Leases, Codification Topic 842 TIG Template 01–05 (5)

• Not supported by Wdesk


Taxonomy Disclosure Templates

Polling Question 5

Other Changes

Taxonomy Implementation Notes (TINs)

• 1,223 elements in the 2017 Taxonomy contain TINs◦ 941 were newly added

• Include references for◦ Meaning of positive/negative XBRL values◦ Intended usages and limitations, including but not limited to:

▪ Notes on ASU transitions or early adoption

▪ Alternate elements suggestions based on transition methods

▪ Modeling perspective of line item concepts

▪ Expectation of [Extensible List]

◦ Provide references to Taxonomy Implementation Guides (TIGs) and ASU topics

Reference Project

• First phase of the project resulted in 812 changes in the 2017 Taxonomy• Includes additions, replacements, and removals of references

◦ Streamlined [Text Block] references to topic and subtopic◦ Removed Glossary terms

• Improves taxonomy navigationand element selection

• Better support for topical searchin Inline XBRL Viewer

Change Notes (CNs)

Added to replace previous change labels (found under References tab in Wdesk)• New Element• Modified Reference• Modified Label• Modified Documentation• Modified Balance Type• Deprecated Label

Industry-Related Changes

• Insurance Industry Resource Group◦ Reviewed and updated to remove redundancies and accommodate common

reporting practices▪ Deferred acquisition costs

▪ Present value of future profits from acquired insurance contracts

▪ Deferred sales inducement

• Financial Services Industry Resource Group◦ Added new concepts for

Basel III disclosures

Other Changes – Comprehensive Income (Loss)

New line item conceptsrelated to:• Transfers from available-for-

sale to equity methodaccounting (ASU 2016-07)

• Noncredit portion of OTTI forheld-to-maturity securities

Other Changes – Earnings Per Share

New line item concepts for:• Basic (shown) vs. diluted (not shown) • Continuing vs. discontinued

operations

Other Changes – Hedging

New members under non-designated hedging

Other Changes – FV Measured at Net Asset Value

New line item conceptsrelated to fair valuemeasured at net asset value(ASU 2015-07)

Other Changes – VIE

New line item concepts for VIEconsolidated assets and liabilitiesdisclosures

Polling Question 6

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2017 Q2

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2017 Q3

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2017 Q4

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2017.06.08 - q2 2017 - 2017 us gaap taxonomy updates · the measurement date of an employer's...

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