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Which XBRL concept should I pick for Operating Lease Right of Use Assets (ASC 842)?

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  • Lily Keasler
    Hi Grace,

    I think you could use us-gaap_OperatingLeaseRightOfUseAsset as this references ASC 842 in its references tab. Using the Taxonomy YETI 
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  • Grace Liu
    Thanks for the reply. So i guess what you mean is i can use disclosure tagging instead of statement tagging to tag the account on Balance Sheet. Am i correct? I searched Statement taxonomy and couldn't find anything describing Operating Lease Asset, but did find in the Disclosure taxonomy. 

    Or should I just use "Other Asset" tagging on Balance sheet, and tag operating lease asset on footnote? 

    I appreciate your reply!
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  • Lily Keasler
    I think the lack of a Balance Sheet tag in the taxonomy was an oversight and you could use the disclosure tag. I realize that you should try to match the taxonomy outline as much as possible, but it seems like this is clearly 842 related and any other tag (whether it be customer or "other") is really too generic / not usable. Also, looking at three of the larger companies that early adopted Leases (Target, Microsoft and Delta) they all use the operating lease asset tag on their balance sheet. Hope this helps!
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  • Grace Liu
    This reply was created from a merged topic originally titled Operating vs. Finance Lease xbrl tagging.

    I need to disclose operating lease vs. finance lease in 10-Q this quarter. I tried to tag xbrl for the following  tables in lease footnote, but couldn’t find a decent concept to use for tagging. Operating and finance Lease are 2 separate concepts in workiva taxonomy.  Is it possible to tag/merge 2 different xbrl concepts on 1 table? As you can tell the following tables in our footnote include both operating and finance lease.

     
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  • Trisha Kassner
    This reply was created from a merged topic originally titled Operating Lease vs Financial Lease. I am curious to see responses to this as well. I ended up creating my own concepts and used domain/members to differentiate between operating and finance. I have a lot of extensions for my lease note and I was questioning the creators of the taxonomy the entire time wondering if they tried to apply it in real life...ha.

    Note: This conversation was created from a reply on: Operating vs. Finance Lease xbrl tagging.
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  • Mike
    Great questions, and discussion! I believe I can provide some additional info for you. Here goes.

    The US GAAP 2018 Taxonomy contains a new section called "842000 - Disclosure - Leases, Codification Topic 842." In this section, new elements are provided per the new ASU, and there are elements for cash flow disclosures and a section for maturities. The FASB also recently released a Taxonomy Implementation Guide on Leases under Topic 842. Here's a link to guide:

    https://www.fasb.org/cs/ContentServer?c=Document_C&cid=1176168870569&d=&pagename=FASB%2F...

    Regarding the question on disclosure tagging instead of statement tagging for the Operating Lease, Right of Use Asset, this disclosure can be found on the balance sheet within the 2019 US GAAP Taxonomy. Although it is important to start with the reference taxonomy (in this case the Statement of Financial Position section of the taxonomy), when tagging new disclosures, it is okay and allowable to utilize elements outside of that section of the taxonomy as long as it is satisfying your disclosure requirement. Hope this helps.

    If you do have specific questions about the above, they would likely be best answered by our Professional Services team. If you have a PSM, I might suggest reaching out to set up some time to go over tagging your disclosure. If you don't have a PSM, your CSM can help arrange something with the team to get you the assistance you need.

    Thanks much, and have a fantastic day in the meantime. Cheers!
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  • Grace Liu
    Hi Mike, 

    Thank you for the reply! That's very helpful. I can't wait to see the upcoming 2019 Taxonomy to make our xbrl taggings more organized and accurate. 

    Regarding my second post about tagging 2 concepts to 1 single table text block, do you have any suggestions? Before we turn to PSM, i would appreciate some ideas if you don't mind. 

    Thanks again for your time!
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  • Grace Liu
    Hi Trisha, 

    Thank you for your reply! It's good to know we are not the only one struggling with new lease disclosure:) 

    I am pretty new of Wdesk and not sure about all its functions. Could you please share some information about creating concepts & making extensions? Or where can i find the instructions? 

    I appreciate your time and help!
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  • Trisha Kassner

    Sure! You can search on Help in the Success Center or follow the link below. For leases, I simply copied the taxonomy concept and just edited it to reflect both lease types. Then I differentiated between operating and finance using an extended domain/member. For example, I changed us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear to aks_LesseeLeaseLiabilityPaymentsRemainderOfFiscalYear and updated the description to include both operating and finance leases. I created a "Lease Classification, Type" Axis and Domain, then created "Operating Lease" and "Finance Lease" members. Happy to help! Let me know if you have any other questions as you go through the process.

    https://success.workiva.com/help/xbrl-for-sec/xbrl-tagging/creating-extension-concepts
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  • Mike
    No problem!

    To answer, if a table in a note combines two separate disclosure requirements, such as you are seeing, applying two table textblocks is certainly permitted. This allows for coverage of each disclosure requirement.

    Hope that helps. Thanks again, and happy tagging!
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  • Grace Liu
    Thanks for help! It worked well with your suggestions. Hopefully 2019 Taxonomy will be much better than what they have right now :)
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