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Fixed Asset
(redirected from Long-Lived Asset)

   Also found in: Financial, Wikipedia 0.01 sec.

Property, such as machinery or buildings, utilized in a business that will not be used or liquidated during the current fiscal period.



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Results for the first quarter of 2010 include impairments of long-lived assets of $18 million while results for the first quarter of 2009 include losses on sales of facilities of $5 million and impairments of long-lived assets of $9 million.
Paragraph 27: A long-lived asset to be disposed of other than by sale (for example, by abandonment, in an exchange measured based on the recorded amount of the nonmonetary asset relinquished [begin strikethrough] for a similar productive long lived asset[end strikethrough], or in a distribution to owners in a spinoff) shall continue to be classified as held and used until it is disposed of.
121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of.
 
 
 
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