Deputy Seminar, Denver, CO

ASU 2016-01, Financial Instruments Recognition & Measurement

Disclosures:

• PBE’s must continue to disclose the FV of financial assets & liabilities measured at amortized cost – However, no longer required to disclose the methods & significant assumptions used in FV estimates – Required to now use a true exit price methodology • Significant change from current practice for Non-PBE’s – No longer required to disclose the FV of financial instruments measured at amortized cost

 Effective for PBEs for fiscal years beginning after December 15, 2017 (2018 for calendar year companies)  All other entities have an additional year  Early application permitted only for  FV changes for own credit financial liabilities  FV disclosure requirements elimination for nonpublic business entities Effective Dates: ASU 2016-01, Financial Instruments Recognition & Measurement