Standards
Summary of Statement No. 64
Extinguishments of Debt Made to Satisfy Sinking-Fund Requirements--an amendment of FASB Statement No. 4 (Issued 9/82)
Summary
This Statement amends FASB Statement No. 4, Reporting Gains and
Losses from Extinguishment of Debt, so that (a) gains and
losses from extinguishments of debt made to satisfy sinking-fund
requirements that an enterprise must meet within one year of the
date of the extinguishment are not required to be classifed as
extraordinary items and (b) the classification of gains and losses
from extinguishments of debt made to satisfy sinking-fund
requirements are to be determined without regard to the means used
to achieve the extinguishment.
Additional Details
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