FASB 145    (2002)

• Extinguishment of Debt
• Rescinds FASB 4, 44 and 64
• FASB summary
• FASB status
• Gains / losses from extinguishment of debt
  included in income from continuing operations
  unless an extraordinary item under per APB 30
• Change was made to accommodate use of hedging
  in day-to-day risk management

SEC Staff Accounting Bulletin 94 (April 1995)
Was rescinded by SAB 103, in light of FASB 140
Had been codified as Topic 5.AA

Accounting Issues