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Utilities and power companies often have significant asset retirement obligations (AROs) due to their ownership of power plants and other major plant assets that ultimately will be removed from service. ASC 410, Asset Retirement and Environmental Obligations, contains the guidance for the recognition, measurement, and disclosure of asset retirement obligations.
See PPE 3 for general information on applying the guidance in ASC 410. UP 18.8 discusses the guidance when a regulated utility is collecting amounts in rates for retirement costs that do not meet the definition of an ARO (i.e., cost of removal that is not a legal obligation). In addition, ASC 410-20-55 includes examples of the application of the guidance that are useful for utilities and power companies.

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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