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The presentation and disclosure requirements discussed in this section are applicable to the acquisition and postacquisition periods for intangible assets under ASC 350. See FSP 17 for additional presentation and disclosure requirements for business combinations.
ASC 350-30-50-1 requires certain disclosures for acquired intangible assets, regardless of whether the assets are acquired via a business combination or an asset acquisition. The disclosures are required in the notes to financial statements in the period of acquisition.

ASC 350-30-50-1

For intangible assets acquired either individually or as part of a group of assets (in either an asset acquisition, a business combination, or an acquisition by a not-for-profit entity), all of the following information shall be disclosed in the notes to financial statements in the period of acquisition:
  1. For intangible assets subject to amortization, all of the following:
    1. The total amount assigned and the amount assigned to any major intangible asset class      
    2. The amount of any significant residual value, in total and by major intangible asset class
    3. The weighted-average amortization period, in total and by major intangible asset class. 
  2. For intangible assets not subject to amortization, the total amount assigned and the amount assigned to any major intangible asset class.
  3. The amount of research and development assets acquired in a transaction other than a business combination or an acquisition by a not-for-profit entity and written off in the period and the line item in the income statement in which the amounts written off are aggregated. 
  4. For intangible assets with renewal or extension terms, the weighted-average period before the next renewal or extension (both explicit and implicit), by major intangible asset class.
This information also shall be disclosed separately for each material business combination or acquisition by a not-for-profit entity or in the aggregate for individually immaterial business combinations or acquisitions by a not-for-profit entity that are material collectively if the aggregate fair values of intangible assets acquired, other than goodwill, are significant.

ASC 350-30-45-1 requires intangible assets to be presented separately on the balance sheet at an individual, class, or aggregate level.
S-X 5-02(15) requires separate presentation for each class of intangible assets that is in excess of 5% of total assets, along with the basis of determining the respective amounts. Any significant addition or deletion should be explained in a footnote. S-X 5-02(16) requires that the amount of accumulated depreciation and amortization related to intangible assets be stated separately on the balance sheet or in a footnote.
Information related to intangible assets should be disclosed in the financial statements or the footnotes for each period for which a balance sheet is presented.

ASC 350-30-50-2

The following information shall be disclosed in the financial statements or the notes to financial statements for each period for which a statement of financial position is presented:
  1. For intangible assets subject to amortization, all of the following:
    1. The gross carrying amount and accumulated amortization, in total and by major intangible asset class
    2. The aggregate amortization expense for the period
    3. The estimated aggregate amortization expense for each of the five succeeding fiscal years.
  2. For intangible assets not subject to amortization, the total carrying amount and the carrying amount for each major intangible asset class
  3. The entity’s accounting policy on the treatment of costs incurred to renew or extend the term of a recognized intangible asset
  4. For intangible assets that have been renewed or extended in the period for which a statement of financial position is presented, both of the following:
    1. For entities that capitalize renewal or extension costs, the total amount of costs incurred in the period to renew or extend the term of a recognized intangible asset, by major intangible asset class
    2. The weighted-average period before the next renewal or extension (both explicit and implicit), by major intangible asset class.
Example 13 (see paragraph 350-30-55-39) illustrates these disclosure requirements.

ASC 350-30-45-2 also requires amortization expense and impairment losses for intangible assets to be presented in income statement line items within continuing operations. Refer to FSP 3.6.8 for income statement presentation and disclosure requirements.

8.8.1 Impairment losses

ASC 350-30-50 requires disclosure for each impairment loss recognized related to an intangible asset.

Excerpt from ASC 350-30-50-3

  1. A description of the impaired intangible asset and the facts and circumstances leading to the impairment
  2. The amount of the impairment loss and the method for determining fair value
  3. The caption in the income statement or the statement of activities in which the impairment loss is aggregated
  4. If applicable, the segment in which the impaired intangible asset is reported under Topic 280.

The above disclosures should continue to be included in the footnotes whenever the financial statements include the income statement for the year in which the impairment loss was recognized. As discussed in ASC 350-30-50-3, disclosures for impairment losses for intangible assets not subject to amortization are the same as the disclosure requirements for intangible assets subject to amortization.
ASC 820-10-50 indicates that measurements based on fair value (e.g., non-recurring fair value measurements required by ASC 360 for finite-lived intangibles or impairments of indefinite-lived intangibles under ASC 350) are also subject to the disclosure requirements in ASC 820. Required disclosures include the fair value measurement, relevant measurement date, reasons for the fair value measurement, valuation techniques, and information about the inputs to the fair value measurement, including significant unobservable inputs. Refer to FSP 20.3.1 for details regarding the general fair value disclosure requirements. 
In addition to the fair value measurement disclosures, ASC 275-10-50 requires a reporting entity to disclose its use of estimates when the resolution of matters could differ significantly from what is currently expected, and if it is reasonably possible that the estimates will change in the near term and the effect of the change will be material. Disclosure may also be required under ASC 275 even if a reporting entity concludes that an impairment charge is not required. Refer to FSP 24.3.3 for further information about the requirements of ASC 275.

8.8.2 Estimate of useful life

ASC 275, Risks and Uncertainties, requires reporting entities to disclose the estimated useful life of an intangible asset when it is reasonably possible the estimate will change and have a material impact on the financial statements.
The materiality criterion may be met if a change in useful lives or a change in expected likelihood of renewal is material individually or in aggregate by major intangible asset class.

8.8.3 Renewal/extension of intangible asset’s legal or contractual life

ASC 350-30-50-4 requires reporting entities to disclose information that enables financial statement users to assess the extent to which the expected future cash flows associated with the intangible asset are affected by the reporting entities’ intent or ability (or both intent and ability) to renew or extend the arrangement.
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