Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 46

ABC Company has entered into transactions subject to an enforceable master netting arrangement or other similar agreement with the counterparties XYZ and QRS. The reporting entity has the following recognized financial assets and financial liabilities resulting from those transactions that meet the scope of the disclosure requirements in paragraph 210‐20‐50‐1.

1 ABC has a derivative asset (fair value of $100 million) and a derivative liability (fair value of $80 million) with XYZ. Assume that the entity qualifies for and makes an accounting policy election to offset in accordance with Section 815‐10‐45. Cash collateral also has been received from XYZ for a portion of the net derivative asset ($10 million). The derivative liability and the cash collateral received are set off against the derivative asset in the statement of financial position, resulting in the presentation of a net derivative asset of $10 million.

2 Counterparty QRS (assume that the following two transactions are not offset):ABC had entered into a sale and repurchase agreement with QRS that is accounted for as a collateralized borrowing. The carrying value of the financial asset (bonds) used as collateral and held by the reporting entity for the transaction is $79 million, and their fair value is $85 million. The carrying value of the collateralized borrowing (repo payable) is $80 million.ABC also has entered into a reverse sale and repurchase agreement with QRS that is accounted for as a collateralized lending. The fair value of the asset (bonds) received as collateral (and not recognized in the statement of financial position) is $105 million. The carrying value of the secured lending (reverse repo receivable) is $90 million.

Offsetting of Financial Assets and Derivatives—As of December 31, 20X0 Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets	Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Assets Presented in the Statement of Financial Position	Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	Cash Collateral Received	Net Amount
Derivatives	$100,000	$(90,000)	$10,000	$–	$–	$10,000
Reverse repurchase, securities borrowings, and similar arrangements	90,000		90,000	(90,000)
Other financial instruments	–	–	–	–	–	–
Total	$190,000	$(90,000)	$100,000	$(90,000)	$–	10,000

Offsetting of Financial Liabilities and Derivative Liabilities—As of December 31, 20X0

				Gross Amounts Not Offset in the Statement of Financial Position
Description	Gross Amounts of Recognized Liabilities	Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Liabilities Presented in the Statement of Financial Position	Financial Instruments	Cash Collateral Pledged	Net Amount
Derivatives	$80,000	$80,000	$–	$–	$–	$–
Repurchase, securities lending, and similar arrangements	$80,000	–	80,000	(80,000)	–	–
Other financial instruments	–	–	–	–	–	–
Total	$160,000	$(80,000)	$80,000	$(80,000)	$–	$–