資產退廢負債

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資產退廢負債(Asset Retirement Obligations,ARO)

2001年6月末，美國財務會計準則委員會(FASB)理事會一致同意發佈第143號財務會計準則公告—資產退廢負債(SFAS143)。該項目於1994年發起時，主要是研究核電站退廢成本的會計處理，後來將研究範圍擴大到所有行業資產壽命期間內發生的類似關閉和移動成本。該準則要求會計主體在資產退廢期間記錄資產退廢負債的公允價值。最初記錄負債時，企業應通過增加相關長期資產的賬麵價值使成本資本化。隨時間的延續，負債每期隨其現值而增值，資本化成本也在相關資產的有效壽命期內折舊。至負債結算時，企業要麼以其所記錄的負債金額來結算，要麼產生結算損益。該準則自2002年6月15日開始的會計年度生效，但鼓勵企業提前應用。

Asset Retirement Obligations provide for future disposal of assets as required by SFAS 143.

Firms must recognize the ARO liability in the period it was acquired, generally acquisition. The liability equals the market value, and if that is not available the present value of cash flows that will be required to extinguish the liability. An asset equal to the initial liability is added to the Balance Sheet, and depreciated over the life of the asset. The result is an increase in both assets and liabilities.

All numbers in this example are in today's dollars.

Consider a fixed asset that has a useful life of 7 years, a present value of cash flows equal to $15,000 and the present value of cleanup at the end of the 7th year equal to $5,000. Suppose the firm pays by cash the net present value, that is $10,000. Prior to SFAS 143, the firm would reduce cash by $10,000 and increase fixed assets by $10,000. No changes would result to the totals on either side of the balance sheet. By SFAS 143, the firm needs to also recognize the future liability of $5,000 and a corresponding asset of $5,000. Hence both sides of the balance sheet consequently increase by $5,000.

As the cash flows from the asset come in, the asset of $5,000 is depreciated down to zero in the seventh year. This makes sense as during the seven years the firm has received cash flows of $5,000 in excess of the present value of $10,000 it paid. And the firm uses these cash flows to meet its retirement obligation, and then extinguishes the liability of $5,000. The fixed asset of $10,000 is depreciated in the usual manner.

If the ARO is not recognized as per SFAS 143 then after the cash flows from the asset have been obtained but prior to its "retirement", the B/S assets will show an excess value of $5,000 that does not actually exist as it would have to be spent on clean up (retirement) costs. When the costs of retirement come in, the B/S assets (and equity on the right side) will drop by $5,000 at one go. Recognizing the ARO keeps the B/S more accurate through time.

The increase of assets and liabilities by $5,000 will affect financial ratios, for example return on assets will decline, debt equity ratio will increase, etc.