Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Rules and Regulations 69373 

1As defined in Rule 1–02(aa) of Regulation S–X. 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1E, ‘‘Environmental 

Impacts: Policies and Procedures,’’ 

paragraph 311a. This airspace action is 

not expected to cause any potentially 

significant environmental impacts, and 

no extraordinary circumstances exist 

that warrant preparation of an 

environmental assessment. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR Part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

■ 1. The authority citation for 14 CFR 

Part 71 continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR Part 71.1 of the Federal Aviation 

Administration Order 7400.9Y, Airspace 

Designations and Reporting Points, 

dated August 6, 2014, and effective 

September 15, 2014 is amended as 

follows: 

Paragraph 6005 Class E airspace areas 

extending upward from 700 feet or more 

above the surface of the earth. 

* * * * * 

AWP CA E5 Lakeport, CA [Amended] 

Lampson Field, CA 

(Lat. 38°59′26′′ N., long. 122°54′03′′ W.) 

Sutter Lakeside Hospital Heliport, CA Point 

in Space Coordinates 

(Lat. 39°06′09′′ N., long. 122°53′19′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 4-mile radius 

of Lampson Field, and within a 5-mile radius 

of the Point in Space serving the Sutter 

Lakeside Hospital Heliport. 

Issued in Seattle, Washington, on 

November 6, 2014. 

Christopher Ramirez, 

Acting Manager, Operations Support Group, 

Western Service Center. 

[FR Doc. 2014–26860 Filed 11–20–14; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Part 211 

[Release No. SAB 115] 

Staff Accounting Bulletin No. 115 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Publication of Staff Accounting 

Bulletin. 

SUMMARY: This staff accounting bulletin 

rescinds portions of the interpretive 

guidance included in the Staff 

Accounting Bulletin Series in order to 

make the relevant interpretive guidance 

consistent with authoritative accounting 

guidance and Securities and Exchange 

Commission rules and regulations. 

Specifically, the staff is updating the 

Series in order to bring existing 

guidance into conformity with a recent 

consensus of the Financial Accounting 

Standards Board Emerging Issues Task 

Force, Accounting Standards Update 

No. 2014–17—Business Combinations 

(Topic 805): Pushdown Accounting (a 

consensus of the FASB Emerging Issues 

Task Force). 

DATES: Effective Date: November 21, 

2014. 

FOR FURTHER INFORMATION CONTACT: 

Christopher D. Semesky, Professional 

Accounting Fellow, Office of the Chief 

Accountant, at (202) 551–7678, or Todd 

E. Hardiman, Associate Chief 

Accountant, Division of Corporation 

Finance, at (202) 551–3516, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549. 

SUPPLEMENTARY INFORMATION: The 

statements in staff accounting bulletins 

are not rules or interpretations of the 

Commission, nor are they published as 

bearing the Commission’s official 

approval. They represent interpretations 

and practices followed by the Division 

of Corporation Finance and the Office of 

the Chief Accountant in administering 

the disclosure requirements of the 

Federal securities laws. 

Dated: November 18, 2014. 

Brent J. Fields, 

Secretary. 

PART 211—[AMENDED] 

Accordingly, Part 211 of Title 17 of 

the Code of Federal Regulations is 

amended by adding Staff Accounting 

Bulletin No. 115 to the table found in 

Subpart B. 

Staff Accounting Bulletin No. 115 

This staff accounting bulletin rescinds 

portions of the interpretive guidance 

included in the Staff Accounting 

Bulletin Series in order to make the 

relevant interpretive guidance 

consistent with current authoritative 

accounting and auditing guidance and 

Securities and Exchange Commission 

(‘‘Commission’’) rules and regulations. 

Specifically, the staff is updating the 

Series in order to bring existing 

guidance into conformity with a recent 

consensus of the Financial Accounting 

Standards Board Emerging Issues Task 

Force, Accounting Standards Update 

No. 2014–17—Business Combinations 

(Topic 805): Pushdown Accounting (a 

consensus of the FASB Emerging Issues 

Task Force) (ASU No. 2014–17). 

The following describes the changes 

made to the Staff Accounting Bulletin 

Series that are presented at the end of 

this release: 

1. Topic 5: Miscellaneous Accounting 

a. Topic 5.J is removed. This topic 

provided guidance on the application of 

the ‘‘push down’’ basis of accounting in 

the separate financial statements of 

entities acquired in purchase 

transactions. Under this guidance, when 

a purchase transaction results in an 

entity becoming substantially wholly 

owned,1 a new basis of accounting 

should be established in the acquired 

entity’s financial statements to reflect 

the acquirer’s basis in the purchased 

assets and liabilities. Further, this 

guidance indicates circumstances when 

an acquired entity’s financial statements 

should reflect the acquirer’s debt, 

related interest expense, and allocable 

debt issuance costs, when the acquirer 

borrows funds to acquire substantially 

all of the common stock of the acquired 

entity. ASU No. 2014–17 establishes 

new guidance on the recognition of a 

new accounting basis. That guidance 

provides an option to apply ‘‘push 

down’’ accounting in the separate 

financial statements of an acquired 

entity upon the occurrence of an event 

in which an acquirer obtains control of 

the acquired entity. In addition, any 

acquisition-related debt incurred by the 

acquirer would be recognized in the 

acquired entity’s separate financial 

statements only if the acquired entity is 

required to recognize a liability for the 

debt in accordance with other 

applicable U.S. generally accepted 

accounting principles. 

Accordingly, the staff hereby amends 

the Staff Accounting Bulletin Series as 

follows: 


rljohnson on DSK3VPTVN1PROD with RULES
69374 Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Rules and Regulations 

Note: The text of SAB 115 will not appear 

in the Code of Federal Regulations. 

* * * * * 

TOPIC 5: MISCELLANEOUS 

ACCOUNTING 

* * * * * 

J. Removed by SAB 115 

* * * * * 

[FR Doc. 2014–27618 Filed 11–20–14; 8:45 am] 

BILLING CODE 8011–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R08–OAR–2011–0100; FRL–9918–35- 

Region 8] 

Approval and Promulgation of Air 

Quality Implementation Plans; 

Montana; Revisions to the 

Administrative Rules of Montana—Air 

Quality, Subchapter 7, Exclusion for 

De Minimis Changes; Final Rule 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: The Environmental Protection 

Agency (EPA) is taking final action to 

correct final rules pertaining to the State 

of Montana’s State Implementation Plan 

(SIP). On February 13, 2012, EPA took 

final action to partially approve and 

partially disapprove SIP revisions and 

new rules as submitted by the State of 

Montana on June 25, 2010 and May 28, 

2003. EPA subsequently discovered 

errors in our February 13, 2012 final 

action related to the materials 

incorporated by reference and the 

associated regulatory text that 

inadvertently reversed portions of our 

July 8, 2011 final action. EPA is taking 

final action, under section 110 of the 

Clean Air Act (CAA). 

DATES: This final rule is effective 

December 22, 2014. 

ADDRESSES: EPA has established a 

docket for this action under Docket ID 

No. EPA–R08–OAR–2011–0100. All 

documents in the docket are listed in 

the www.regulations.gov index. 

Although listed in the index, some 

information may not be publicly 

available, e.g., CBI or other information 

whose disclosure is restricted by statute. 

Certain other material, such as 

copyrighted material, will be publicly 

available only in hard copy. Publicly 

available docket materials are available 

either electronically in 

www.regulations.gov or in hard copy at 

the Air Program, Environmental 

Protection Agency (EPA), Region 8, 

1595 Wynkoop Street Denver, Colorado 

80202–1129. EPA requests you contact 

the individual listed in the FOR FURTHER

INFORMATION CONTACT section to view 

the hard copy of the docket. You may 

view the hard copy of the docket 

Monday through Friday, 8:00 a.m. to 

4:00 p.m., excluding federal holidays. 

FOR FURTHER INFORMATION CONTACT: 

Jaslyn Dobrahner, Air Program, EPA, 

Region 8, Mail Code 8P–AR, 1595 

Wynkoop, Denver, Colorado 80202– 

1129, (303) 312–6252, 

dobrahner.jaslyn@epa.gov. 

SUPPLEMENTARY INFORMATION: 

Definitions 

For the purpose of this document, we 

are giving meaning to certain words or 

initials as follows: 

(i) The words or initials Act or CAA 

mean or refer to the Clean Air Act, 

unless the context indicates otherwise. 

(ii) The initials ARM mean or refer to 

the Administrative Rules of Montana. 

(iii) The words EPA, we, us or our 

mean or refer to the United States 

Environmental Protection Agency. 

(iv) The initials SIP mean or refer to 

State Implementation Plan. 

(v) The words State or Montana mean 

the State of Montana, unless the context 

indicates otherwise. 

Table of Contents 

I. Background 

II. Response to Comments 

III. Final Action 

IV. Statutory and Executive Orders Review 

I. Background 

In our rule published on February 13, 

2012 (77 FR 7531), EPA took final action 

to partially approve and partially 

disapprove SIP revisions and new rules 

as submitted by the State of Montana on 

June 25, 2010 and May 28, 2003. On 

page 7534, third column, under the 

regulatory text in 40 CFR 

52.1370(c)(72)(i) Incorporation by 

reference, paragraph (A), EPA 

inadvertently incorporated by reference 

all of Administrative Rules of Montana 

(ARM), 17.8.740, Definitions. We are 

taking final action to amend the 

regulatory text in 40 CFR 

52.1370(c)(72)(i)(A) to specify that EPA 

only approved the phrase ‘‘, except 

when a permit is not required under 

ARM 17.8.745’’ in ARM 17.8.740(8)(a) 

and the phrase ‘‘, except as provided in 

ARM 17.8.745’’ in ARM 17.8.740(8)(c). 

Therefore, the regulatory text in 40 CFR 

52.1370(c)(72)(i)(A) reads as set forth in 

the regulatory text of this final rule. 

This correction is consistent with: (1) 

The preamble of our February 13, 2012 

final rule (77 FR 7531, 7534); and (2) the 

July 8, 2011 final rule (76 FR 40237) and 

associated regulatory text found in 40 

CFR 52.1370(c)(70)(i)(B)(2) where we 

disapproved the phrase in ARM 

17.8.740(2) ‘‘includes a reasonable 

period of time for startup and 

shakedown and’’ and the definitions in 

ARM 17.8.740(10) and (14), ‘‘Negligible 

risk to the public health, safety, and 

welfare and to the environment’’ and 

‘‘Routine Maintenance, repair, or 

replacement,’’ respectively. We also 

confirm that our approval of the phrase 

‘‘unless the increase meets the criteria 

in ARM 17.8.745 for a de minimis 

change not requiring a permit, or’’ in 

17.8.764(1)(b) of our July 8, 2011 final 

rule (76 FR 40237) is accurate, while the 

same phrase in the preamble of the July 

8, 2011 and February 13, 2012 final 

rules is incorrect. 

In this action, EPA is also taking final 

action to correct the associated IBR 

material for our February 13, 2012 (77 

FR 7531) rule by striking out the 

aforementioned phrases (ARM 

17.8.740(2), ARM 17.8.743(1)(c)) and 

two definitions (ARM 17.8.740(10), 

ARM 17.8.740(14)) that were 

inadvertently included in the IBR SIP 

material from the State’s May 28, 2003 

submittal. 

For more detailed information 

regarding these February 13, 2012 and 

July 8, 2011 actions, see 77 FR 7531 and 

76 FR 40237. 

II. Response to Comments 

We did not receive any comments on 

our August 5, 2014 proposal (79 FR 

45393) to correct final rules pertaining 

to the State of Montana’s SIP. 

III. Final Action 

EPA is taking final action to amend 

the text in 40 CFR 52.1370(c)(72)(i)(A) 

to read as follows: ‘‘Administrative 

Rules of Montana, 17.8.740, Definitions, 

ARM 17.8.740(8)(a), the phrase ‘, except 

when a permit is not required under 

ARM 17.8.745’ and ARM 17.8.740(8)(c), 

the phrase ‘, except as provided in ARM 

17.8.745’; 17.8.743, Montana Air 

Quality Permits—When Required, 

(except the phrase in 17.8.743(1)(b), 

‘asphalt concrete plants, mineral 

crushers, and’, and 17.8.743(1)(c)); and 

17.8.764, Administrative Amendment to 

Permit; effective 12/27/2002.’’ 

IV. Statutory and Executive Orders 

Review 

Under the CAA, the Administrator is 

required to approve a SIP submission 

that complies with the provisions of the 

Act and applicable federal regulations 

(42 U.S.C. 7410(k), 40 CFR 52.02(a)). 

Thus, in reviewing SIP submissions, 

EPA’s role is to approve state choices, 


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