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ASC 470-60-50 provides specific disclosures for a troubled debt restructuring. It requires that a troubled borrower disclose the following, either in the financial statements or the footnotes:
  • A description of the principal changes in terms, major features of settlement, or both
  • Aggregate gain on restructuring of payables
  • Aggregate net gain or loss on transfers of assets recognized during the period (see FSP 22 for guidance on transfers)
  • Per-share amount of the aggregate gain on restructuring of payables
Reporting entities may group separate restructurings within a fiscal period for the same category of payables (for example, accounts payable or subordinated debentures) for disclosure purposes.
For financial statement periods after the troubled debt restructuring, the borrower should disclose amounts contingently payable that are included in the carrying amount of restructured payables and the conditions under which those amounts would become payable or be forgiven.

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