US Maturity Schedules

Rule ID: DQC_0094 for US GAAP - approved July 15, 2020.
View: as part of approved release v12.0.0 || public exposure version & comments.

Rule function

In the 2020 taxonomy, the definition of the maturity schedule elements has changed. The changes in the 2020 taxonomy will require retagging of most subsequent quarterly filings. This rule is intended to check that the changes in the 2020 taxonomy are applied to the instance documents using this taxonomy. This rule only applies to filings made using the 2020 taxonomy and later. The rule is split into seperate parts. The first part of the rule checks that the remainder portion of a maturity schedule is only used for quarterly filings. The second part of the rule checks that where a remainder is used that an amount for year 1 is also reported. In prior taxonomies the remainder amount would be reported and then year 2 would be reported, but an amount for year 1 would not be reported. Under the updated 2020 taxonomy year 1 is now reported.

Part 1.
The first rule only runs on the following filing types: ’10-K’,’10-K/A’,’10-KT’,’20-F’,’20-F/A’,’40-F’,’40-F/A’

If the filing does not match one of these, the rule does not run. If the filing is an annual filing and a value has been reported for the “remainder of the period” in a maturity schedule then an error is produced. In an annual filing the remainder is not expected to be reported.

If the end date of the “remainder of the period” fact is different from the document period end date, then the rule will not produce an error.

Part 2.
The second rule reads the list of elements that comprise the maturity schedules and identifies the following elements:

1. The remaining amount due for the period
2. The Amount due in year 1
3. The amount due in Year 2.

If an amount is reported for the remainder and Year 2 but not Year 1 then an error is produced.

Problem solved by the rule

The intent of the rule is to identify where filers have not updated the maturity schedules to reflect the new approach deployed for maturity schedules by the FASB.

Example rule message

Part 1
The element us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear with a value of 582,909 has an end date of 2019-09-30 which is the same as 2019-09-30. Remaining payments for the year should only be used in an annual report if the amount reported is earlier than the period end date. If the amount represents the value for year one then the element FiniteLivedIntangibleAssetsAmortizationExpenseYearOne should be used to tag this value.

Period: 2019-09-30
Unit: USD
Dimensions: us-gaap:BusinessAcquisitionAxis=INLB:FutureAmortizationIntangibleAssets5Member
Decimals: 0

Rule Element ID: 9526
Rule version: 12.0.0RC2

Part 2
The element us-gaap:FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear with a value of 4,126,000 is used in the filing as is the element us-gaap:FinanceLeaseLiabilityPaymentsDueYearTwo with a value of 7,385,000. However no value is provided for the element FinanceLeaseLiabilityPaymentsDueNextTwelveMonths. If there is no value for year one but there is a value for the remainder of the year and there is a value for year two, then year one should either have a value of 0, or Year one should have the value for Year 2 of 7,385,000.

Period: 2019-06-30
Unit: USD
Dimensions: us-gaap:LeaseArrangementTypeAxis=aple:FinanceLeasesMember
Decimals: -3

Rule Element ID: 9527
Rule version: 12.0.0RC1

For Developers

The Global Rule Logic document contains general guidelines for implementation of rules.

The rule message template contains text and parametric reference to arguments of the rule operation, using the syntax ${parameter} to indicate that insertion of a parameter’s value is to occur.

Message template

Part 1
The element {$remaining.concept.name} with a value of {$remaining} has an end date of {$remainder_end_date} which is the same as {$document_period_end_date}. Remaining payments for the year should only be used in an annual report if the amount reported is earlier than the period end date. If the amount represents the value of for year one then the element {$year_one} should be used to tag this value.

Period: {$remaining.period}
Unit: {$remaining.unit}
Dimensions:{$remaining.dimensions.join(‘, ‘,’=’)}
Decimals: {$remaining.decimals}

Rule Element ID: {$rule_id}
Rule version: {$ruleVersion}

Part 2
The element {$remain.concept.name} with a value of {$remain} is used in the filing as is the element {$year2.concept.name} with a value of {$year2}. However no value is provided for the element {$year_one}. If there is no value for year one but there is a value for the remainder of the year and there is a value for year two, then year one should either have a value of 0, or Year one should have the value for Year 2 of {$year2}.

Period: {$remain.period}
Unit: {$remain.unit}
Dimensions:{$remain.dimensions.join(‘, ‘,’=’)}
Decimals: {$remain.decimals}

Rule Element ID: {$rule_id}
Rule version: {$ruleVersion}