Goto Section: 32.4130 | 32.4300 | Table of Contents
Revised as of September 1, 2021
Goto Year:2020 |
§ 32.4200 Long term debt and funded debt.
(a) This account shall include:
(1) The total face amount of unmatured debt maturing more than one year
from date of issue, issued by the company and not retired, and the
total face amount of similar unmatured debt of other companies, the
payment of which has been assumed by the company, including funded debt
the maturity of which has been extended by specific agreement. This
account shall also include such items as mortgage bonds, collateral
trust bonds, income bonds, convertible debt, debt securities with
detachable warrants and other similar obligations maturing more than
one year from date of issue.
(2) The premium associated with all classes of long-term debt. Premium,
as applied to securities issued or assumed by the company, means the
excess of the current money value received at their sale over the sum
of their book or face amount and interest or dividends accrued at the
date of the sale.
(3) The discount associated with all classes of long-term debt.
Discount, as applied to securities issued or assumed by the company,
means the excess of the book or face amount of the securities plus
interest or dividends accrued at the date of the sale over the current
money value of the consideration received at their sale.
(4) The face amount of debt reacquired prior to maturity that has not
been retired. Gain or loss shall be recognized at the time of
reacquisition by credits or charges to Account 7300, Nonoperating
income and expense, except that material gains or losses shall be
treated as extraordinary. (See Account 7600, Extraordinary items.)
(5) The noncurrent portion of obligations applicable to property
obtained under finance leases. Amounts subject to current settlement
shall be included in Account 4130, Other current liabilities.
(6) The amount of advance from affiliated companies. Amounts due
affiliated companies which are subject to current settlement shall be
included in Account 4000.
(7) Investment advances, including those represented by notes.
(8) Long-term debt not provided for elsewhere.
(9) The noncurrent portion of obligations applicable to property
subject to capitalized operating leases. Amounts subject to current
settlement shall be included in Account 4130, Other current
liabilities. Any balance in this account relating to capitalized
operating leases shall be excluded in any ratemaking calculations.
(b) Subsidiary records shall be maintained for each issue. The
subsidiary records shall identify the premium or discount attributable
to each issue.
(c) Premiums and discounts on long-term debt recorded in this account
shall be amortized monthly by the interest method and charged or
credited, as appropriate, to Account 7500, Interest and related items.
(d) Debt securities with detachable warrants shall be accounted for in
accordance with generally accepted accounting principles.
(e) Securities maturing in one year or less, including securities
maturing serially, shall be included in Account 4130, Other current
[ 67 FR 5689 , Feb. 6, 2002, as amended at 84 FR 4730 , Feb. 19, 2019]
Goto Section: 32.4130 | 32.4300
Goto Year: 2020 |
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