1、Designation: E2173 07 (Reapproved 2011)E2173 16Standard Guide forDisclosure of Environmental Liabilities1This standard is issued under the fixed designation E2173; the number immediately following the designation indicates the year oforiginal adoption or, in the case of revision, the year of last re
2、vision. A number in parentheses indicates the year of last reapproval. Asuperscript epsilon () indicates an editorial change since the last revision or reapproval.1. Scope1.1 PurposeThe purpose of this guide is to provide a series of options or instructions consistent with good commercial andcustoma
3、ry practice in the United States for environmental liability disclosures accompanying audited and unaudited financialstatements. This guide is consistent with Generally Accepted Accounting Principles (GAAP).(GAAP)2 issued by FinancialAccounting Standards Board (FASB), as well as related statements,
4、rules, regulations, and/or procedures issued by GovernmentAccounting Standards Board (GASB), Public Company Accounting Oversight Board (PCAOB), Securities and ExchangeCommission (SEC), and Federal Accounting Standards Advisory Board (FASAB). This guide is intended to be consistent with otherissuers
5、of accounting standards and practices, including International Accounting Standards Board (IASB).1.2 ObjectivesThe objectives of this guide are to determine the conditions warranting disclosure and the content of appropriatedisclosure.2. Referenced Documents2.1 ASTM Standards:3D5746 Classification o
6、f Environmental Condition of Property Area Types for Defense Base Closure and Realignment FacilitiesE1527 Practice for Environmental Site Assessments: Phase I Environmental Site Assessment ProcessE1739E2091 Guide for Risk-Based Corrective Action Applied at Petroleum Release SitesUse of Activity and
7、Use Limitations,Including Institutional and Engineering ControlsE2137 Guide for Estimating Monetary Costs and Liabilities for Environmental Matters2.2 EPA Directives:FASB Standard:4United States Environmental Protection Agency, OSWER Directive 9610.17:Statement of Financial Accounting Concepts No.8
8、Use of Risk-Based Decision-Making in UST CorrectiveAction Programs“Conceptual Framework for Financial Reporting”,September 20103. Terminology3.1 Definitions of Terms Specific to This Standard:3.1.1 accretion, nincrease to the present value of a liability solely because of the passage of time, normal
9、ly a year; also“unwinding the discount.”3.1.2 activity and use limitations (AULs)limitations, AULs, nlegal or physical restrictions or limitations on the use of, oraccess to, a site or facility to eliminate or minimize potential exposures to chemicals of concern,concern or to prevent activitiesthat
10、could interfere with the effectiveness of a response action,action to ensure maintenance of a condition of “acceptable risk” or“no significant risk” to human health and the environment. These legal or physical restrictions are intended to prevent adverseimpacts to individuals or populations that may
11、 be exposed to chemicals of concern.3.1.2.1 Discussion1 This guide is under the jurisdiction of ASTM Committee E50 on Environmental Assessment, Risk Management and Corrective Action and is the direct responsibilityof Subcommittee E50.05 on Environmental Risk Management.Current edition approved July
12、1, 2011Oct. 1, 2016. Published July 2011November 2016. Originally approved in 2001. Last previous edition approved in 20072011 asE2173 07.E2173 07(2011). DOI: 10.1520/E2173-11.10.1520/E2173-16.2 This guide alone does not satisfy or include all disclosure requirements under GAAP, SEC, IASB, or any ot
13、her agency or regulatory body. Appendix X1 provides someexamples of where such requirements are contained.3 For referencedASTM standards, visit theASTM website, www.astm.org, or contactASTM Customer Service at serviceastm.org. For Annual Book of ASTM Standardsvolume information, refer to the standar
14、ds Document Summary page on the ASTM website.4 Available from the United States Environmental Protection Agency (U.S. EPA), Ariel Rios Building, 1200 Pennsylvania Ave., N.W., Washington, DC 20460. FinancialAccounting Standards Board 401 Merritt 7 P.O. Box 5116 Norwalk, Connecticut 06856-5116. http:/
15、www.fasb.org/This document is not an ASTM standard and is intended only to provide the user of an ASTM standard an indication of what changes have been made to the previous version. Becauseit may not be technically possible to adequately depict all changes accurately, ASTM recommends that users cons
16、ult prior editions as appropriate. In all cases only the current versionof the standard as published by ASTM is to be considered the official document.Copyright ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States1These legal or physical restriction
17、s are intended to prevent adverse impacts to individuals or populations that may be exposed tochemicals of concern. (E2091)3.1.3 asset retirement obligationobligation, nlegal or constructive obligations associated with the retirement of a tangiblelong-lived asset that result from the acquisition, co
18、nstruction, development, or normal operation of a tangible long-lived asset.3.1.3.1 DiscussionActivities include, but are not limited to, demolition, decommissioning, decontamination, reclamation, restoration, andabandonment.3.1.4 claim, ndemand for payment or compensation.3.1.5 commitment, ntype of
19、 liability covering purchase obligations that serve to mitigate environmental liabilities.3.1.5.1 DiscussionAn example is an entity continuing a property lease obligation indefinitely to defer a remediation or asset retirement obligationdue at the end of the lease. (ASC 440)3.1.6 Comprehensive Envir
20、onmental Response, Compensation and Liability Act of 1980 (as amended, 42 USC Section 9601 etseq.), CERCLA, nalso known as “Superfund,” a major U.S. Federal environmental law establishing key legal concepts ofenvironmental costs and liabilities.3.1.7 CERCLISComprehensive Environmental Response, Comp
21、ensation and Liability Information System, CERCLIS,nComprehensive Environmental Response, Compensation and Liability Information System, the list of sites compiled by theEPA that the EPA has investigated or is currently investigating for potential hazardous substance contamination for possibleinclus
22、ion on the National Priorities List.List; succeeded by SEMS.3.1.8 claimconstructive obligation, na demand for payment.concept that past practice creates a valid expectation on the partof a third party.3.1.8.1 DiscussionAn example is a company policy to excavate all underground storage tanks once rem
23、oved from service. (IAS 37:10)3.1.9 contingency, ntype of liability dependent on the outcome of one or more events.3.1.9.1 DiscussionAn example is multiparty CERCLA liability lacking an allocation among PRPs. (ASC 440)3.1.10 counterparty risk, nentitys exposure to the nonperformance risk of default
24、by one or more PRPs that share a legal orconstructive obligation in environmental costs and risks; alternatively, one PRPs financial exposure to any other PRP on the sameenvironmental cost or risk, especially where another PRP bears responsibility to perform, guarantee, or indemnify another.3.1.10.1
25、 DiscussionAlso refers to the ability to pay and long-term creditworthiness. (ASC 410-30-30-7, ASC 820-10-35-17/18, GASB 72:62, IFRS13:42, FRS 102:21.9, SOP 96-1 6.20See Appendix X1 Appendix X5)3.1.11 current government environmental record sourcesource, nany environmental record source available fr
26、om agovernment or commercial entity, provided the record is updated in accordance with the update requirement of Practice E1527.3.1.12 engineering controls (EC)controls, EC, nphysical modifications to a site or facility (for example, capping, slurrywalls, or point of use water treatment) to reduce o
27、r eliminate the potential for exposure to hazardous substances chemicals ofconcern or petroleum products in the soil or ground water on the property.3.1.12.1 DiscussionEngineering controls are a subset of activity and use limitations.3.1.13 EnviroFacts, nEPA database search tool that accesses over 2
28、0 current and historical environmental record sources,including CERCLIS and RCRAInfo.E2173 1623.1.14 environmental liabilitiesliabilities, nasset retirement obligations, accrued liabilities, and loss contingenciescommitments, contingencies, and guarantees associated with any natural conditions or ma
29、nmade incidents, including terrorism,that pose an unacceptable risk to health, safety, property, or the environment that would be the subject of an enforcement actionor other legal action. (ASC 410, 440, 450, 460, GASB 49, IAS 37)3.1.15 Federal Accounting Standards Advisory Board, FASAB, nU.S. accou
30、nting standard-setting body focused on federalentities; established and funded by Secretary of the Treasury, the Director of the Office of Management and Budget, and theComptroller General of the United States.3.1.16 Federal Register, (FR)FR, npublication of the United States government U.S. Governm
31、ent published daily (exceptfor federal holidays and weekends) containing all proposed and final regulations and some other activities of the federalgovernment. When regulations become final, they are included in the Code of Federal Regulations (CFR), as well as published inthe Federal Register.3.1.1
32、6.1 DiscussionWhen regulations become final, they are included in the Code of Federal Regulations (CFR), as well as published in the FederalRegister.3.1.17 Financial Accounting Standards Board, FASB, nU.S. accounting standard-setting body focused on private sectorentities; a part of the Financial Ac
33、counting Foundation,3.1.18 financial statementsstatements, ninclude, but are not limited to, statements associated with shareholder reporting,periodic reports, managerial accounting, financial accounting, tax accounting, registration statements, loans, mergers, acquisitions,or divestitures. Financia
34、l statements may include statements outside of SEC filings.3.1.18.1 DiscussionFinancial statements may include statements outside of SEC filings.3.1.19 Generally Accepted Accounting Principles, GAAP, nframework of guidelines for accounting and financial reporting.3.1.20 Government Accounting Standar
35、ds Board, GASB, nU.S. accounting standard-setting body focused on non-federalgovernment units, such as state, county, and municipal governments; a part of the Financial Accounting Foundation.3.1.21 guarantee, nassurance issued by a guarantor that remains in effect; examples include, (but are not lim
36、ited to, financialand performance guarantees and indemnifications, “joint and several liability” under CERCLA, and an irrevocable letter of creditfrom a mining company to a state agency assuring eventual completion of reclamation work. (ASC 460 and GASB 70)3.1.22 historical government environmental
37、record sourcessources, nany environmental record source available from agovernment or commercial entity that is older than the most recent current government environmental record source.3.1.23 historical use informationinformation, nthose sources of information about the history of uses of a propert
38、y.Historical use information is available from local libraries, historical societies, private resellers, or commercial entities. Someexamples of the sources are specified and defined in Section 8.3.4 of Practice E1527.3.1.23.1 DiscussionHistorical use information is available from local libraries, h
39、istorical societies, private resellers, or commercial entities. Someexamples of the sources are specified and defined in Practice E1527.3.1.24 IAS 37, naccounting standard titled “Provisions, Contingent Liabilities and Contingent Assets” issued by IASB inSeptember 1998.3.1.25 institutional controlsc
40、ontrols, nadministrative and/oror legal mechanisms or both that minimize the potential humanexposure to contamination exposure(s) of human and ecological receptors to chemicals of concern by limiting land use or resourceuse.use; see also 3.1.2.3.1.26 International Accounting Standards Board, IASB, n
41、independent multinational accounting standard setting body whichissues International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), interpretations and otherpronouncements.3.1.27 interperiod equity, nfrom GASB Concepts Statement 1, the concept that current taxpayers
42、pay for current services andfurther that burden of payment for service today is not transferred to future taxpayers.3.1.28 leaking underground storage tank, LUST, ncommon cause of environmental costs and liabilities.3.1.29 legal obligation, nduty to carry out what the law or a contract asks.E2173 16
43、33.1.30 materialitymateriality, nthe significance of an item to users of a financial statement that considers all relevant andsurrounding circumstances. A material item is one that its omission or misstatement is of such a magnitude in the surroundingcircumstances that either the judgment of a reaso
44、nable person relying on the financial statement would have been changed orinfluenced by its inclusion or correction, or there is a substantial likelihood that the item, after assessing the inferences, and theirsignificance, drawn from the given set of facts associated with the financial statement, w
45、ould be viewed as significantly alteringthe information made available to the investor or shareholder. Relevant sources of information and references are included inAppendix X2. Note that this definition is not intended to supersede the definition of materiality in SEC Staff Accounting BulletinNo. 9
46、9Materiality (See Appendix X1 and Appendix X2).3.1.30.1 DiscussionA material item is one that its omission or misstatement is of such a magnitude in the surrounding circumstances that either thejudgment of a reasonable person relying on the financial statement would have been changed or influenced b
47、y its inclusion orcorrection or there is a substantial likelihood that the item, after assessing the inferences and their significance drawn from thegiven set of facts associated with the financial statement, would be viewed as significantly altering the information made availableto the investor or
48、shareholder. Relevant sources of information and references are included in Appendix X2. Note that thisdefinition is not intended to supersede the definition of materiality in SEC Staff Accounting Bulletin Topic 1.M, FinancialStatementsMateriality (See Appendix X1 and Appendix X2.)3.1.31 National Pr
49、iorities List (NPL)List, NPL, na list compiled by the EPA pursuant to CERCLA 42 USC 9605(a)(8)(B)of properties with the highest priority for cleanup pursuant to the EPAsEPAs Hazard Ranking System. See 40 CFR Part 300. (40CFR Part 300)3.1.32 obligating event, npast outcome that confirmed a financially recognizable obligation. (GASB 49:11)3.1.33 pollution remediation obligations, nobligations to address the current or potential detrimental effects of existingpollution by participating in pollution remediatio
