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TITLE 14 - AERONAUTICS AND SPACE
CHAPTER II - OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION (AVIATION PROCEEDINGS)
SUBCHAPTER A - ECONOMIC REGULATIONS
PART 241 - UNIFORM SYSTEM OF ACCOUNTS AND REPORTS FOR LARGE CERTIFICATED AIR CARRIERS
Section 14 - Objective ClassificationNonoperating Income and Expense
80Interest Income.
Included under account 89 Other Nonoperating Income and ExpenseNet.
[ER1401, 50 FR 245, Jan. 3, 1985] 81Interest on Long-term Debt and Capital Leases.
(a) Record here interest expense applicable to long-term debt and capitalized leases.
(b) This account shall be subdivided as follows by all air carrier groups: 81.1Interest expenselong-term debt.
Record here interest on all classes of long-term debt. This includes interest expense applicable to all portions of long-term debt which are classified as either current (Account 2000) or long-term (Account 2210) for balance sheet classification purposes.
81.2Interest expensecapital leases.
Record here for all capitalized leases, that portion of each lease payment which represents interest expense.
[ER1013, 42 FR 37516, July 21, 1977] 82Other Interest.
(a) This account shall be subdivided as follows by all air carrier groups: 82.1Interest ExpenseShort-Term Debt.
Record here interest on all classes of short-term debt.
83.1Imputed Interest CapitalizedCredit.
Record here credits related to imputed interest capitalized and recorded in asset accounts.
83.2Imputed Interest DeferredDebit.
Record here debits related to imputed interest deferred in balance sheet account 2390, Other deferred credits.
83.3Imputed Interest DeferredCredit.
Record here periodic credits for imputed interest, cleared to this account as the amount of such interest in the asset accounts is amortized.
83.4Interest CapitalizedCredit.
Record here interest which is capitalized and recorded in asset accounts.
84.1Amortization of discount and expense on debt.
Record here for all classes of debt the amortizations of discount and expense on short-term and long-term obligations.
84.2Amortization of premium on debt.
Record here for all classes of debt the amortizations of premium on short-term and long-term obligations.
(b) [Reserved] [ER1401, 50 FR 245, Jan. 3, 1985, as amended by Amdt. 24158, 54 FR 5596, Feb. 6, 1989] 83Capitalized Interest.
Included under account 82 Other Interest.
[ER1401, 50 FR 245, Jan. 3, 1985] 84Amortization of Debt Discount, Premium and Expense.
Included under account 82 Other Interest.
[ER1401, 50 FR 245, Jan. 3, 1985] 85Foreign exchange gains and losses.
Record here gains and losses from transactions involving currency translations resulting from nonroutine abnormal changes in rates of foreign exchange and gains or losses which arise from translations of long-term debt principal and interest transactions.
[Amdt. 24158, 54 FR 5596, Feb. 6, 1989] 86Income from Nontransport Ventures.
Included under account 89 Other Non-Operating Income and ExpenseNet.
[ER980, 42 FR 38, Jan. 3, 1977] 87Equity in Income of Investor Controlled Companies.
Included under account 89 Other Nonoperating Income and ExpenseNet.
[ER1401, 50 FR 245, Jan. 3, 1985] 89Other Nonoperating Income and ExpenseNet.
(a) Record here all debits and credits of a nonoperating character which are not otherwise provided for in this section.
(b) This account shall be subdivided as follows by all air carrier groups: 80.0Interest Income.
(a) Record here interest income from all sources. This account shall include as an increase or reduction of interest received the proportionate amortization of any discount or premium on the purchase price of securities of others held by the air carrier.
(b) This account shall not include interest on securities issued or assumed by the air carrier and subsequently reacquired.
86.0Income from Nontransport Ventures.
(a) Record here the gross revenues and expenses applicable to operations not reasonably considered as incidental to the commercial air transport services of the accounting entity; rents from nonoperating properties used by others; income or loss from nontransport divisions; and other income or loss from activities of the air carrier which are extraneous to the air transport and incidental services of the accounting entity.
(b) This account shall include revenues and expenses applicable to nonscheduled transport services performed for the defense establishment when separate reports for such services are required in accordance with section 21 Introduction to System of Reports. Where the foregoing transport services are not required to be separately reported, gross revenues from such services shall be included in profit and loss account 07 Charter, or other appropriate revenue account, and gross expenses shall be included in the appropriate operating expense functions.
87.0Equity in Income of Investor Controlled Companies.
Record here the equity in the current earnings or losses of investor controlled companies. Dividends declared on the stock of such companies shall not be included in this account as income but shall be entered in balance sheet subaccount 1510.1 Investments in Investor Controlled Companies as a return on investment.
88.1Intercompany Transaction AdjustmentCredit.
Record here all intercompany credits for any differences between amounts at which transactions between the air carrier and its nontransport divisions or associated companies are initially recorded and are to be settled.
88.2Dividend income.
Record here income from dividends declared on stocks of other than investor controlled companies. Dividends declared on stock of investor controlled companies shall not be included in this account but shall be entered in balance sheet subaccount 1510.1 Investments in Investor Controlled Companies.
88.3Net Unrealized Gain or Loss on Marketable Equity Securities.
Record here the net unrealized gain or loss on the valuation of marketable equity securities.
88.4Net Realized Gain or Loss on Marketable Equity Securities.
Record here the net realized gain or loss on the valuation of marketable equity securities.
88.5Capital gains and lossesoperating property.
Record here gains or losses on retirements of operating property and equipment, flight equipment expendable parts, or miscellaneous materials and supplies sold or otherwise retired in connection with a general retirement program as opposed to incidental sales performed as a service to others.
88.6Capital gains and lossesother.
Record here gains or losses not required to be reported in accounts 88.3, 88.4 and 88.5 such as gains or losses on retirement of nonoperating property and equipment, investments in other than marketable equity securities, and the transfer of assets in a troubled debt restructuring.
88.7Unapplied cash discounts.
Record here cash discounts on routine purchases of materials, repair parts or supplies. Cash discounts on classes of assets included in property and equipment accounts shall not be recorded in this account but shall be applied as a reduction of the cost of such accounts.
88.9Other miscellaneous nonoperating credits.
Record here all credits of a nonoperating character not provided for otherwise, such as royalties from patents, gains from reacquisition and retirement or resale of debt securities issued by the air carrier, and gains resulting from troubled debt restructurings.
89.1Intercompany Transaction AdjustmentDebit.
Record here all intercompany debits for any differences between amounts at which transactions between the air carrier and its nontransport divisions or associated companies are initially recorded and are to be settled.
89.9Other Miscellaneous Nonoperating Debits.
Record here all debits of a nonoperating character not provided for otherwise, such as the following: (a) Fines or penalties imposes by governmental authorities; (b) Costs associated with employment discrimination that include the following: (1) Fines or penalties paid by the carrier as a result of a judicial or administrative decree; or the amount paid to the complainant in settling or securing a consent decree; (2) Back pay awards as a result of a judicial or administrative decree or a compromise settlement regardless of admission of guilt; (3) Attorneys' fees or court costs awarded to the complainant by a judicial or administrative decree or as a result of a compromise settlement regardless of admission of guilt; (4) The fees of outside legal counsel or of experts retained in the unsuccessful defense of a discrimination suit or in securing a compromise settlement or consent decree, unless the amounts attributable to the discrimination are not reasonably identifiable; or (5) Any other expenses, such as employee salaries, resulting from employment practices that were found to be discriminatory or that were the subject of a compromise settlement or consent decree where the amounts attributable to discrimination are reasonably identifiable.
(c) Amortization expense attributable to capital leases recorded in balance sheet Account 1795, Leased Property under Capital Leases; (d) Costs related to property held for future use; (e) Donations for charitable, social or community welfare purposes; (f) Losses on reacquired and retired or resold debt securities of the air carrier; (g) Losses resulting from troubled debt restructurings; (h) Losses on uncollectible nonoperating receivables; or (i) Accruals to allowance for uncollectible nonoperating receivables.
(Secs. 204, 404, 407, and 1002 of the Federal Aviation Act of 1958, as amended, 72 Stat. 743, 760, 766, 788, (49 U.S.C. 1324, 1374, 1377, 1482)) [ER980, 42 FR 38, Jan. 3, 1977, as amended by ER1013, 42 FR 37516, July 21, 1977; ER1027, 42 FR 60128, Nov. 25, 1977; ER1076, 43 FR 46296, Oct.
6, 1978; ER1401, 50 FR 245, Jan. 3, 1985; Amdt. 24158, 54 FR 5596, Feb.
6, 1989]
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