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  #1  
Old 02-04-2022, 09:51 PM
PattyB-N PattyB-N is offline
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Join Date: Sep 2020
Posts: 19
Extinguished Surplus Notes

This year we had $20M in surplus notes extinguished and replaced with $30M in notes in October. Do we have to show both the retired $20M and the new $30M in Note 13K? Thanks!!
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Old 02-07-2022, 07:37 AM
Lisa Lisa is offline
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Patty,

Yes, I believe you will want to disclose both the $20M and $30 million surplus notes in your Notes to the Financial Statements. You may find SSAP 41R Surplus Notes helpful.

Regards,

Lisa Mullen
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