In March, 2005, the Financial Accounting Standards Board issued Financial Interpretation No. 47, Accounting for Conditional Asset Retirement Obligations, which "clarifies" FASB's 2002 Statement No. 143. The Interpretation provides additional detail on the disclosure in financial statements of environmental liabilities when a business is sold. Prior to FI No. 47, it was believed by some that environmental liabilities (e.g., ACM in buildings, contaminated soil) did not have to be reported absent a pending or threatened lawsuit. Now, however, these obligations must be disclosed. This can be particularly onerous for companies with sites that have been "mothballed". One option is to sell the sites to get them "off the books". [Certainly in California, separate and apart from any statutory obligation, the existence of such environmental problems must be disclosed to a potential buyer as a matter of common law.] FI No. 47 can be found at http://www.fasb.org/pdf/fin%2047.pdf.