At the February 10, 2021 meeting:
- Issue 1: The FASB asked the staff to evaluate the effects of expanding the scope of the proposal. The expanded scope would include all lessor arrangements for which excluding expected variable lease payments from the measurement of the net investment in the sales-type lease would give rise to a Day 1 loss, regardless of whether the variable payments are predominant.
- Issue 2: The FASB decided to not proceed with the proposal and agreed to remove the issue from its technical agenda.
- Issue 3: The FASB decided to not proceed with the proposal. Instead, the Board asked the FASB staff to consider the appropriate scope and topics for a potential wider project on the lease modification requirements under ASC 842.
October 20, 2020 proposed targeted amendments to ASC 842: