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ASC 825-10-50-10 requires that public business entities annually disclose the fair value of all financial instruments, whether or not recognized on the balance sheet at fair value, except for the instruments listed in ASC 825-10-50-8.

Excerpt from ASC 825-10-50-8

  1. Employers’ and plans’ obligations for pension benefits, other postretirement benefits including health care and life insurance benefits, postemployment benefits, employee stock option and stock purchase plans, and other forms of deferred compensation arrangements (see Topics 710; 712; 715; 718; and 960)
  2. Substantively extinguished debt subject to the disclosure requirements of Subtopic 405-20
  3. Insurance contracts, other than financial guarantees (including financial guarantee insurance contracts within the scope of Topic 944) and investment contracts, as discussed in Subtopic 944-20
  4. Lease contracts as defined in Topic 840 (a contingent obligation arising out of a cancelled lease and a guarantee of a third-party lease obligation are not lease contracts and are subject to the disclosure requirements in this Subsection)
  5. Warranty obligations (see Topic 450 and the Product Warranties Subsections of Topic 460)
  6. Unconditional purchase obligations as defined in paragraph 440-10-50-2
  7. Investments accounted for under the equity method in accordance with the requirements of Topic 323
  8. Noncontrolling interests and equity investments in consolidated subsidiaries (see Topic 810)
  9. Equity instruments issued by the entity and classified in stockholders’ equity in the statement of financial position (see Topic 505)
  10. Receive-variable, pay-fixed interest rate swaps for which the simplified hedge accounting approach is applied (see Topic 815)
  11. Fully benefit-responsive investment contracts held by an employee benefit plan
  12. Investments in equity securities accounted for under the measurement guidance for equity securities without readily determinable fair values (see Topic 321)
  13. Trade receivables and payables due in one year or less
  14. Deposit liabilities with no defined or contractual maturities
  15. Liabilities resulting from the sale of prepaid stored-value products within the scope of paragraph 405-20-40-3

If these disclosures are in more than one footnote, ASC 825-10-50-12 requires that one of the footnotes include a summary table listing fair value and the related carrying amounts and reference where the other disclosures can be found.
ASC 825-10-50-15 also indicates that the fair values of financial instruments should not be netted unless the conditions for offsetting under ASC 210, Balance Sheet, or ASC 815, Derivatives and Hedging, are met. These are addressed in FSP 2.4 (general conditions) and FSP 19.3.2 (conditions for derivatives).
New guidance
Upon adoption of ASU 2016-02, Leases (Topic 842), ASC 825-10-50-8(d) will be amended. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for (a) public business entities, (b) not-for-profit entities that have issued, or are a conduit bond obligor for, securities that are traded on an exchange or over-the-counter market, and (c) employee benefit plans that file with or furnish financial statements to the SEC. For all other entities, the guidance is effective one year later. Early adoption is permitted.
The accounting and disclosure requirements of ASC 842 are covered in PwC’s Leasing guide, and are not discussed in this guide.

20.5.1 Equity securities without readily determinable fair values

For equity securities without readily determinable fair values (for which a measurement event or impairment has not occurred during the period), reporting entities may elect to measure the securities at cost less impairment, adjusted for any changes in observable prices. If that election is made, the disclosures in ASC 321-10-50-3 are required, as discussed in LI 12.6.1.

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