Proposed GAAP Taxonomy Improvements

PROPOSED GAAP TAXONOMY IMPROVEMENTS

Proposed improvements to the GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy (collectively referred to as the “GAAP Taxonomy”) have formal comment periods that correspond to the related proposed Accounting Standards Updates (ASU) or other proposed GAAP Taxonomy improvement projects.

The information below describes the process for exposing proposed GAAP Taxonomy improvements and includes links for supporting materials that are currently available.

Once the due process for proposed GAAP Taxonomy improvements is complete, the improvements and their disposition are listed on the GAAP Taxonomy Improvements (pending Annual Updates) page.

How and When GAAP Taxonomy Improvements Are Proposed

Proposed Improvements to the GAAP Taxonomy that result from proposed ASUs:

Proposed GAAP Taxonomy improvements for proposed ASUs are expected to be exposed concurrently with the proposed improvements to GAAP and with a corresponding comment period length, which in most cases is no less than 30 days. Supporting materials are provided to communicate the proposed GAAP Taxonomy improvements.

Other proposed GAAP Taxonomy Improvements:

Proposed GAAP Taxonomy improvements related to topical reviews or other improvement projects are expected to have a 30 to 60-day comment period. These exposure periods are not tied to ASUs and may occur throughout the year depending on when the project is completed. The supporting materials for the other proposed improvements will be included in a separate table below.

All links to supporting materials for proposed GAAP Taxonomy improvements are provided below. Constituents are notified of proposed GAAP Taxonomy improvements by FASB Action Alerts and are encouraged to subscribe to the “What’s New” newsfeed to stay abreast of GAAP Taxonomy-related improvements. Constituents also are made aware of proposed GAAP Taxonomy improvements in the Appendix of each proposed ASU. The Appendix directs the reader of the proposed ASU to this Proposed GAAP Taxonomy Improvements page.

Comments on Proposed GAAP Taxonomy Improvements

Constituents are encouraged to comment on proposed GAAP Taxonomy Improvements directly in the FASB Taxonomy Online Review and Comment System (TORCS). A link to TORCS is provided here. Individuals providing comments on the taxonomies are required to register with a “user name” and email address. Please note that all comments will be visible to other registered users. In order to process comments, commentators should (1) describe the issue clearly, (2) provide examples and/or frequency of occurrence, and (3) provide a recommendation.

Comment letters on proposed GAAP Taxonomy Improvements should be sent directly to xbrled@fasb.org. All comment letters are available on the Comment Letters-XBRL page.

The Following Proposed GAAP Taxonomy Improvements are currently available for comment:

Proposed Improvements to the GAAP Taxonomy that result from proposed ASUs:

PROPOSED GAAP TAXONOMY IMPROVEMENTS AND SUPPORTING MATERIALS
Title/Comment Period Deadline (End of Comment Period)	ASU Status	Release Notes	AP	TED	TIG	Inline XBRL Viewer*	XBRL Files**
Proposed Accounting Standards Update—Income Taxes (Topic740): Improvements to Income Tax Disclosures Issue Date: March 17, 2023 Comment Deadline: May 30, 2023	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Leases (Topic 842): Common Control Arrangements Issue Date: November 30, 2022 Comment Deadline: January 16, 2023 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement Issue Date: October 31, 2022 Comment Deadline: December 27, 2022 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures Issue Date: October 12, 2022 Comment Deadline: December 20, 2022 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Issue Date: September 2, 2022 Comment Deadline: October 6, 2022 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Reference Rate Reform (Topic 848) and Derivatives and Hedging (Topic 815): Deferral of the Sunset Date of Topic 848 and Amendments to the Definition of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate Issue Date: April 20, 2022 Comment Deadline: June 6, 2022 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Interim Reporting (Topic 270): Disclosure Framework—Changes to Interim Disclosure Requirements Issue Date: November 1, 2021 Comment Deadline: January 31, 2022 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standard Update—Leases (Topic 842)—Targeted Improvements Issue Date: October 21, 2020 Comment Deadline: December 4, 2020 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Derivatives and Hedging (Topic 815): Codification Improvements to Hedge Accounting Issue Date: November 13, 2019 Comment Deadline: January 13, 2020 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update—Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative Issue Date: May 7, 2019 Comment Deadline: June 28, 2019 (Closed)	E	Y	Y	N	N	N	N
Proposed Accounting Standards Update (Revised)—Income Taxes (Topic 740): Disclosure Framework—Changes to the Disclosure Requirements for Income Taxes Issue Date: April 29, 2019 Comment Deadline: May 31, 2019 (Closed)	E	Y	Y	N	N	N	N

Codes:

AP	Appendix to Release Notes-Summary of Proposed Elements.
E	Links to Exposure Documents & Public Comment Documents Page (and Exposure Drafts Open for Comment Page—If proposed ASU is still open for comment).
F	Proposed GAAP Taxonomy Improvements related to final ASU issued.
N	Not included. Indicates that this item has not been issued in connection with a proposed Accounting Standards Update or other GAAP Taxonomy Improvements.
TED	Proposed improvements are included in a partial taxonomy project that is available for viewing in TORCS. Comments on these improvements should be made directly in TORCS.
TIG	GAAP Taxonomy Implementation Guide.
Y	Included. Indicates that this item has been issued in connection with the proposed Taxonomy Improvements.
*	This instance document and related extension taxonomy are not authoritative; rather they are intended to be used to understand and illustrate the implementation of the modeling in the Taxonomy. No conclusions should be made regarding other modeling choices or semantic considerations. This instance document and related extension taxonomy are not in compliance with certain EDGAR Filer Manual rules because it does not represent a complete filing and is an artificial construct for illustrative purposes. The FASB disclaims all responsibility for any use of this purely illustrative material for actual reporting or disclosure, or other non-hypothetical purposes. Please also see Terms of Use for this website.
**	Requires XBRL-enabled software to view.

THE GAAP TAXONOMY AND SUPPORTING MATERIALS PROVIDED THROUGH THESE LINKS ARE FOR REVIEW PURPOSES ONLY AND ARE NOT TO BE USED OR RELIED UPON FOR ANY PURPOSES OTHER THAN FOR THIS REVIEW AND COMMENT. YOUR USE OF THE GAAP TAXONOMY FOR THESE PURPOSES SHALL BE SUBJECT TO THE TERMS AND CONDITIONS LOCATED AT THE INITIAL LINK TO THE TAXONOMIES.