Issued: January 31, 2014
Impact: All US GAAP


Throughout the taxonomy there are a number of elements that incorporate information that would otherwise be included in the date context of the fact.  These elements effectively define the end or start date relative to the reporting date in their definition. These elements will include phrases like costs to date or expected costs to completion or expected future cash flows.  When tagging these elements it can be unclear which context dates to use especially if the period type of the element conflicts with its definition.

Examples of these elements in the 2013[1] taxonomy include:

  1. RestructuringAndRelatedCostCostIncurredToDate
  1. RestructuringAndRelatedCostExpectedCostRemaining
  1. DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesStandardizedMeasure

In each of these cases the elements specify something about the date. The first element indicates that these are the costs to date.  This effectively makes the end date the date of the report. The second element reports the cost remaining which effectively makes the start date the date of the report.  The third element reports the present value of future cash flows as of the date of the report.  In all these cases the elements have been defined as a duration, but there is only one date which is applicable to all of them which is usually the date of the report.  These items should have a period type of instant and a context date that equals the value at a defined point in time.

In these cases, the filer should extend for the item based on the replacement tag proposed in the 2014 taxonomy shown below.


For elements listed below the filer should create an extension based on the 2014 US GAAP taxonomy, until the 2014 UGT is approved by the SEC for use and is used by the filer.

When creating an extension and determining the period type review the criteria defined in the FASB guide, which can be found at FASB Period Guide. If creating an extension for an amount that represents the net present value of a future cash flow, then the element should be created as an instant.

Duration of Period Defined in the Element

US GAAP ELEMENT 2014 – Element
RestructuringAndRelatedCostCostIncurredToDate RestructuringAndRelatedCostCostIncurredToDate1
RestructuringAndRelatedCostExpectedCostRemaining RestructuringAndRelatedCostExpectedCostRemaining1
RestructuringAndRelatedCostExpectedCost RestructuringAndRelatedCostExpectedCost1

Present Value Items

DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureCashInflows FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureDevelopmentCosts1 FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureProductionCosts1 FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesStandardizedMeasure StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureIncomeTaxExpense1 FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReservesFutureNetCashFlows FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
DiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves10PercentAnnualDiscountForEstimatedTimingOfCashFlows FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows

Other  Items – Changed from Duration to Instant

DirectPremiumsLifeInsuranceInForce LifeInsuranceInForceGross
CededPremiumsLifeInsuranceInForce LifeInsuranceInForceCeded
AssumedPremiumsLifeInsuranceInForce LifeInsuranceInForceAssumed
PremiumsNetLifeInsuranceInForce LifeInsuranceInForceNet
StockRepurchaseProgramAuthorizedAmount StockRepurchaseProgramAuthorizedAmount1

[1] These elements are deprecated in the 2014 taxonomy and replaced with the items discussed in the recommendation.