Stout performed the remeasurement of a full lease portfolio upon the Company's emergence from bankruptcy in the Real Estate industry.
Work performed during this engagement included the following:
- Reviewing and evaluating contracts
- Extracting all key lease terms
- Calculating values of right-of-use assets and lease liabilities
- Providing journal entries required to record the right-of-use assets and lease liabilities (at emergence date and for the remainder of the first fiscal year)
- Drafting audit-ready documentation to support remeasurement policies and practices.
Stout's Complex Securities team also assisted with incremental borrowing rate (IBR) calculations (cross-collaboration effort).