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ASC 820-10-50-2(g), as amended by , requires a narrative disclosure about the uncertainty of recurring Level 3 fair value measurements to certain changes in significant unobservable inputs by asset class. This guidance requires the potential effect of changes in unobservable inputs to be described if the changes might have resulted in a significantly different fair value measurement at the measurement date. The intention of the disclosure is to convey information about measurement uncertainty at the reporting date, not in the future.
Reporting entities are not required to quantify the potential changes in the inputs or the fair value measurements. They typically elaborate on the uncertainty of significant unobservable inputs associated with each type of classification included in the quantitative recurring Level 3 disclosure.
See ASC 820-10-55-106 for an example disclosure of the uncertainty analysis.

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