Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.770.1 770.1 Unamortized debt discount

This account shall include the total of the net debit balances representing the excess of the discount over the premium in connection with the issuance of each class of the carrier's outstanding long-term or equipment obligations. Separate subdivisions shall be maintained for each issue of such obligations. (See instruction 5–3.)

Note A:  Issue costs related to long-term debt (debt expense) shall be included in account 743, “Other deferred debits.” (See instruction 5–3.)

Note B:  When long-term obligations are refinanced the balance of debt discount and expense pertaining to the old obligations shall be transferred to account 551, “Miscellaneous income charges.”