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The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement, which is different from when the lease classification and measurement is performed. See LG 3.2.1 for information on the timing of performing the classification and measurement analysis. Once it is determined that an arrangement is, or contains, a lease, that determination should only be reassessed if the legal arrangement is modified. Changes to assumptions such as market-based factors do not trigger a reassessment.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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