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| Asset | Valuation Guideline | |
| Marketable securities | fair values | |
| Receivables |
present values of amounts to be received determined at appropriate current interest rates, less allowances for uncollectibility and collection costs, if necessary |
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| Inventories | ||
Finished goods and merchandise |
estimated selling prices less the sum of (a) costs of disposal and (b) a reasonable profit allowance for the selling effort of the acquiring entity | |
Work in process |
estimated selling prices of finished goods less the sum of a) costs to complete, (b) costs of disposal, and (c) a reasonable profit allowance for the completing and selling effort of the acquiring entity based on profit for similar finished goods | |
Raw materials |
current replacement costs | |
| Plant and equipment | ||
To be used |
current replacement cost for similar capacity unless the expected future use of the assets indicates a lower value to the acquiring entity | |
To be sold |
fair value less cost to sell | |
| Intangible assets that meet the criteria in paragraph 39 | estimated fair values | |
| Other assets | appraised values | |
Land |
appraised values | |
Natural resources |
appraised values | |
Nonmarketable securities |
appraised values | |
| Accounts and notes payable, long-term debt, and other claims payable | present values of amounts to be paid determined at appropriate current interest rates | |
| A liability for the projected benefit obligation in excess of plan assets or an asset for plan assets in excess of the projected benefit obligation of a single-employer defined benefit pension plan | amounts determined in accordance with paragraph 74 of FASB Statement No. 87, Employers’ Accounting for Pensions | |
| A liability for the accumulated postretirement benefit obligation in excess of the fair value of plan assets or an asset for the fair value of the plan assets in excess of the accumulated postretirement benefit obligation of a single-employer defined benefit postretirement plan | amounts
determined in accordance with paragraphs 86–88
of FASB Statement No. 106,
Employers’ Accounting for Postretirement Benefits Other Than Pensions |
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| Liabilities and accruals | present values of amounts to be paid determined at appropriate current interest rates | |
Accruals for warranties |
present values of amounts to be paid determined at appropriate current interest rates | |
Deferred compensation |
present values of amounts to be paid determined at appropriate current interest rates | |
Vacation pay |
present values of amounts to be paid determined at appropriate current interest rates | |
| Other liabilities and commitments | present values of amounts to be paid determined at appropriate current interest rates | |
Unfavorable leases |
present values of amounts to be paid determined at appropriate current interest rates | |
Contracts |
present values of amounts to be paid determined at appropriate current interest rates | |
| Commitments and plant closing expense incident to the acquisition | present values of amounts to be paid determined at appropriate current interest rates | |
| Preacquisition contingencies | amounts determined in accordance with paragraph 40 of this Statement (Opinion 16, paragraph 88). | |
See Paragraph 37 of SFAS 141.
