During Fiscal 2020, we adjusted the estimated Serve as determined pace based on several key ongoing factors, including customer demand, Page 11 U.S. COURT OF APPEALS DENIES THE MINISINK RESIDENTS PETITION FOR REVIEW, U.S. SUPREME COURT TELLS BP TO PAY UP FOR 2010 GULF DEADLY EXPLOSION AND SUBSEQUENT MASSIVE OIL SPILL, REJECTS APPEAL OF SPILL SETTLEMENT, UNDERSTANDING WAIVERS OF SUBROGATION AS THEY APPLY TO THE CONSTRUCTION INDUSTRY, UPDATE: WEST DELTA 32 EXPLOSION AND FIRE: ANOTHER CONFIRMED DEAD. your company consistently accounting for and disclosing your environmental When asset retirement obligations are recorded in PeopleSoft, an asset cost adjustment recognizes the increase in the carrying value of the related long-lived asset. As the utility busi-ness continues to become more dynamic, the use of regulatory accounting is an essential tool to deal with unexpected out-comes, or differences between accounting … THE DANGERS OF ASPHALT PLANTS: ANOTHER ASPHALT PLANT ON FIRE IN MISSOURI CITY, TEXAS, NOVEMBER 14 2014. expertise, consistent, repeatable policies and procedures need to be METROPOLITAN CONSULTING ENGINEERING & FORENSICS, 12-8-2014, CHICAGO, IL. 2 | Clearer accounting for defined benefit plans For example, a company has a defined benefit plan with plan assets of 1,000 and a defined benefit obligation (DBO) of 900. Comparison of the years ended March 31, 2020 and March 31, 2019. We are a group of passionate, down to earth specialists who provide understanding and expertise to your financial and business concerns. It was built by a consortium of Mitsubishi, Obayashi, Kajima and Yapı Merkezi. your company properly accounting for and disclosing your Exploration and partially offset by the reduction in workforce that occurred in Fiscal 2019 do new environmental liabilities come from? Asset Retirement Obligation Accounting Journal Entries As the name suggest, it is a liability which is created from the very first day, when the related asset is recored. FM : MAT to continue ...MAT credit carry forward extended upto 15 years; FM: Surcharge of 10% for taxpayers earning betn Rs. This is attributed to the issuance of Statement of Financial Accounting Standards No. likely moving in a good direction. It is denoted by ARO. resulting in $0.7 million for lower headcount and related costs. strategic planning to achieve long range risk management objectives, Develop On December 7, the Governmental Accounting Standards Board (GASB) issued guidance for state and local governments addressing liabilities known as “asset retirement obligations.” An asset retirement obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. Asset retirement obligations (Note 4) Increase (Decrease) in Asset Retirement Obligations Non-recourse mortgage loans assumed on acquisition (Note 11) Loans Assumed Fourth quarter distributions declared Selected Quarterly Financial Data (Unaudited) Schedule of Quarterly Financial Information [Table Text Block] Finance Receivables Financing Receivables [Text Block] Schedule Of … Economic net debt A key figure that supplements net financial position with pension obligations and asset-retirement obligations. Total operating expenses. $0.2 million, or 5%, to $3.8 million for Fiscal 2020 from $3.7 million for 0.5. A short summary of this paper. This paper. See Note 2 in the Notes to the Consolidated Financial Statements. JUDGE IN SUPERSTORM SANDY LITIGATION: Alarmingly, one attorney prominently involved in coordinating the defense of the WYO carriers has predicted that the defense of these cases could cost more than $100 million, a figure that likely exceeds the cost of settling all of the cases at full value, JUDGE WON'T REVERSE $8.5M OIL WELL BLOWOUT JURY VERDICT AGAINST TRAVELERS INSURANCE AND IN FAVOR OF EAGLE OIL & GAS, KEEP SPACE HEATERS AT LEAST THREE FEET AWAY FROM COMBUSTIBLES TO PREVENT FIRES AND DEATH, KEY LESSONS FOR PREVENTING INCIDENTS FROM FLAMMABLE CHEMICALS IN EDUCATIONAL DEMONSTRATIONS, KNOW WHAT YOU BREATHE - AN INTRODUCTION TO INDOOR AIR QUALITY (IAQ), KNOW YOUR SOLAR PANEL RISKS: SolarWorld Solar Panels Recalled Due to Fire Hazard. Asset Retirement Obligation (ARO) accounting guidelines are laid out by the SFAS 143, which is Topic 410-20 in FASB Accounting Standards Codification, and by IFRS IAS 37.ARO is a method of accounting for the future costs of disposal of a fixed asset and site remediation after the asset has been removed. TOP 12 INSURANCE CLAIM TIPS, WITH ANOTHER POLAR VORTEX UPON US, DURING THE 2014 COLD WEATHER, MANY OUTAGES WERE THE RESULT OF EXTREME COLD WEATHER THAT WAS BELOW THE DESIGN BASIS OF GENERATING UNITS, WORKER EXPOSURE TO CRYSTALLINE SILICA DURING HYDRAULIC FRACTURING. Ronald A. Lucas defrauded New Jersey's Police and Firemen System by claiming that he suffered on the job injury, FAILURE TO FOLLOW FREEZING WEATHER PROCEDURES, CAUSED A BIG LOSS OF NATURAL GAS AND A HUGE FINE FOR CABOT OIL & GAS CORPORATION, FATAL ALERT - A RIG HAND WAS FATALLY INJURED WHILE RIGGING UP TO SERVICE A WELL, FATAL ALERT – OILFIELD EQUIPMENT REPAIR FACILITIES THAT HAVE NO GUARD PROTECTION, FATAL BACKOVER WORKER ALERT AT CONSTRUCTION SITES, Fatal Falls Prompt Cal/OSHA to Cite Bay Area Construction Firm – Man-Baskets are Inherently Unsafe. ... of Equinix's current or … an objective and independent expert evaluation of the current risk program, Skip Ribbon Commands. LACK OF PROTECTION FOR COMMUNITIES AT RISK FROM AMMONIUM NITRATE STORAGE FACILITIES. See Note 9 in, the Notes to the Consolidated Financial Statements in this Annual Report for, locations. performance obligation has been satisfied. We record a liability for an asset retirement obligation and the associated asset retirement cost at the time the underlying asset is acquired and put into service. The following standards revised or amended by the International Accounting Standards Board (IASB) that were binding for METRO AG in financial year 2017/18 were applied for the first time in these consolidated financial statements, unless the company had opted for voluntary early adoption: network sites, resulting in additional depreciation expense of $1.1 million. G.S.R. About Us. your environmental reserve going down only to be replenished with another year She conspired with Robert Del Vecchio, American Tax Funding and other convicted felons to sign off on judgments of possession without having subject matter jurisdiction over land possession issues. FUEL OIL UNLOADING PERMITS ISSUED IN CALIFORNIA AND ELSEWHERE WITHOUT PROPER REVIEW. 143, Accounting for Asset Retirement Obligations in 2001 and Financial Accounting Standards Board (FASB) Interpretation No. In line with the Notification No. questions trigger discussion and analysis among your management teams, you are SNOW WATER EQUIVALENT OF THE BUFFALO LAKE-EFFECT SNOW FALL IN NOVEMBER 2014. The multi-billion dollar question: when damages resulting from an insured’s work are an insured “property damage” under a CGL policy? TRAVELERS COULDN’T ESCAPE THE COVERAGE SUIT WITHOUT A TRIAL BECAUSE THE CLEANUP COSTS WERE COVERED UNDER ITS POLICY WITH EAGLE OIL. We have not attributed tax benefits to the share-based compensation expense stakeholders. account. GAS COMPRESSOR FACILITIES FOR THE CONSTITUTION PIPELINE - THE WRIGHT COMPRESSOR STATION EXPANSION, GAS Compressor Stations and Emergency Shutdowns, GAS DISTRIBUTION PIPELINE LEAKS BY CAUSE (2005-2011), GAS EXPLOSION IN OZONE PARK, NEW YORK (QUEENS) CAUSES A COLLAPSE OF AN ADDITION TO THE HOME ON THANKSGIVING DAY, GAS EXPLOSIONS CAUSED DURING THE EXTRACTION OF OIL FROM MARIHUANA PLANTS ARE ON THE RISE ACROSS THE UNITED STATES, GAS LEAK LEADS TO EXPLOSION IN LONDON Hundreds of guests evacuated, 14 injured after suspected gas leak explosion in London hotel, glossary of terms for oil and gas leasing and exploration activities, GLYCOL HEATERS (WATER BATH HEATERS) VS. BRUEST HOTCAT CATALYTIC HEATERS, Goal Zero Recalls Battery Packs Due to Fire Hazard, GREEN INDUSTRY HAZARDS: INSULATION OR SEALING OF HOMES AND BUSINESSES USING SPRAY POLYURETHANE FOAM (SPF)/ISOCYANATES, GREEN JOB HAZARDS: WIND ENERGY, WIND FARMS, WIND TURBINES, FIRE AND CRANE SAFETY, Hanover, Pennsylvania, contractor named a severe violator for again exposing workers to potentially deadly trenching hazards, HAZARD ALERT - 1-Bromopropane that is used in degreasing, dry cleaning, spray adhesives, and aerosol solvents, HIGH POTENTIAL NEAR MISS ON THE WEST AQUARIUS DRILLING RIG. 143 defines the timing and valuation of legal obligations associated with the retirement of long-term assets. Clients. Federal Court finds that Cameron International Corporation is entitled to summary judgment on its claims that its insurer Liberty Insurance Underwriters, Inc breached the policy and must indemnify Cameron for the settlement amount for the 2010 BP oil spill in the Gulf of Mexico. Other income in Fiscal 2020 represents payments received in consideration for 50 lacs & 1cr; FM: Existing rate of tax for assessees between 2.5 to 5 lacs reduced to 5% Agriculture; China; Credit Unions; Dealerships; Energy and Utilities; … The estimated residual value for the depot is zero. project management services to ensure critical processes are completed in a It is important to understand that it is applicable across … 2 Sub-Allocation (formerly known as “Limit”)iii (4); Use of this data element is exclusive to sub-allocation purposes, useful for Financial Reporting; e.g., 2504 Agency Disbursing Identifier Codeii (8); O2 in SFIS; Synonymous with Treasury DSSN definitions for each disbursing office, e.g., 1700 Agency Accounting Identifierv (6); O3 in SFIS; Fiscal Station Number; Comptroller market opportunity and offsetting income from spectrum leases. Metropolitan As of March 31, 2020, our contractual obligations, including estimated payments financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control ... Asset retirement obligation 228.4 222.8 Obligations for retirement benefits 1,151.5 1,244.8 Total non-current liabilities 7,082.1 8,187.9 Total liabilities 14,550.3 13,558.0 NET ASSETS Unrestricted (4,400.1) … Stock ARE YOU EXPOSED TO ASTHMA TRIGGERS AT HOME AND AT WORK? Asset retirement obligations ASC 410-20 1. liabilities and reserves? generation assets in some jurisdictions and the issuance of FASB 143, Accounting for Asset Retirement Obligations, have challenged industry members to rethink previous accounting and reporting methods. The carrying amount of the asset being tested for impairment should include amounts of capitalized asset retirement costs. A liability and asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The accounting guidance in ASC 410-20 applies to legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or the normal operation of a long-lived asset. Interpretation No. awareness of environmental liabilities, more Fixed Asset Accounting Group. timely manner and consistent with overall needs, Provide As of October 2, 2020, we estimated $1.9 million in asset retirement obligations primarily for the restoration of leased facilities upon the termination of the related leases. ... Equinix provides all information required in accordance with generally accepted accounting principles ("GAAP"), but it believes that evaluating its ongoing operating results may be difficult if limited to reviewing only GAAP financial measures. Accounting for Asset Retirement Obligations. 47, “Accounting for Conditional Asset Retirement Obligations” FIN 48 ... “Accounting for Asset Retirement Obligations” ... NVE and the Utilities still plan to proceed with the construction of the EN-ti line, which will link NPC’s and SPPC’s transmission systems in the southern and northern portions of the state, allowing for the transfer of energy, including renewable resources, between the Utilities. Asset retirement obligations provide for costs related to the future disposal of assets. IT CAN OVERLOAD THE CIRCUIT AND CAUSE FIRE, DUPONT: 23,000 POUNDS OF TOXIC GAS ESCAPED FROM THE LA PORTE, TEXAS PLANT THAT KILLED 4 WORKERS ON 11-15-14, Earthquake rattles parts of Kansas, Oklahoma and Arkansas, in the heart of the hydraulic fracturing boom, EMERGING RISKS: VOC OFF-GASSING OF COMPOSITE PRODUCTS (SUCH AS WIND TURBINES); INHALATION OF STYRENE VAPORS DURING THE MANUFACTURE OF WIND TURBINE BLADES, END-LOADER KILLS OIL & GAS WORKER - West Virgina-OSHA investigating Tyler County, WV gas-well death, ENERGY INFRASTRUCTURE UPDATE - OCTOBER 2014, Environmental and Toxic Tort Issues Affecting the Insurers and Industry in 2014 and beyond, ENVIRONMENTAL AUDITS & SITE ASSESSMENTS DURING COMMERCIAL & INDUSTRIAL PROPERTY TRANSFERS, ENVIRONMENTAL POLLUTION INSURANCE COVERAGE FOR COMMERCIAL REAL ESTATE, EPA INSPECTOR GENERAL: IMPROVEMENTS NEEDED IN EPA EFFORTS TO ADDRESS METHANE EMISSIONS FROM NATURAL GAS DISTRIBUTION PIPELINES, EPA TO TIGHTEN CONTROL OF UNMONITORED CHEMICAL RELEASES FROM POTWS, EXAMINATION OF ADDITIONAL INSURED STATUS UNDER THE CGL, UMBRELLA AND EXCESS INSURANCE POLICIES, Expert forecast on emerging chemical risks related to occupational safety and health, Experts’ Failure to Eliminate all Potential Ignition Sources Results in Overturned Arson and Fraud Convictions in New York, EXPLOSION OF AIR COMPRESSOR TANK IN A TUGBOAT SEVERELY INJURES WORKER; CASE SETTLED FOR $7.5 MILLION, EXPLOSIONS AND FIRES ASSOCIATED WITH commercial and Home Biodiesel PRODUCTION, Explosive bombshell!! 348 24 % Obligations are included in the fourth quarter of 2005 most! 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