ASC 810 requires deconsolidation of an entity when the consolidator loses its controlling financial interest:

As discussed in UP 10.4, a reporting entity should assess the primary beneficiary of a VIE on an ongoing basis. Due to the nature of the contractual and other arrangements associated with a typical single power plant entity, the primary beneficiary may change over time. As a result, a reporting entity may determine that it is no longer the primary beneficiary of a consolidated VIE, even in cases where it does not sell or otherwise dispose of its interest.

In accordance with ASC 810-10-40-5, deconsolidation of a VIE generally results in recognition of a gain or loss in the income statement. In addition, any retained equity interest or investment in the former subsidiary is measured at fair value as of the date of deconsolidation. If the reporting entity does not hold any equity interests in the VIE, there should be no gain or loss upon deconsolidation. For example, if a reporting entity initially consolidates a VIE as a result of a power purchase agreement and subsequently deconsolidates the VIE when the power purchase agreement expires, no gain or loss should be recognized. See BCG 5.5 for further information on deconsolidation of a VIE.

As of the date of this publication, ASC 606, Revenue from Contracts with Customers, has been issued and is effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early application permitted. ASC 606 introduces a new topic, ASC 610, Other Income, that provides considerations to determine whether there has been a transfer of control of an asset. Upon adoption, the guidance in ASC 610 should be utilized to determining the appropriate accounting for the derecognition of a non-financial asset, including in-substance real-estate.