Sec. 32.4210  Funded debt.

    (a) This account shall include the total face amount of unmatured 
debt, maturing more than one year from date of issue, issued by the 
company and not retired, and the total face amount of similar unmatured 
debt of other companies, the payment of which has been assumed by the 
company, including funded debt the maturity of which has been extended 
by specific agreement.
    (b) This account shall include such items as mortgage bonds, 
collateral trust bonds, income bonds, convertible debt, debt securities 
with detachable warrants and other similar obligations maturing more 
than one year from date of issue.
    (c) In the case of debt securities with detachable warrants this 
account shall include only the face amount of the security at the time 
of issuance. The value of detachable warrants shall be charged to either 
Account 4220, Premium on Long-Term Debt, or Account 4230, Discount on 
Long-Term Debt, as appropriate, and credited to Account 4520, Additional 
Paid-in Capital, in the case of capital stock warrants or retained in 
this account as a separately identifiable amount in the case of 
detachable long-term debt warrants. No similar allocation shall be made 
for the issuance of either convertible debt or debt securities with non-
detachable warrants.
    (d) Subsidiary records shall be maintained for each issue.
    (e) Securities maturing in one year or less, including securities 
maturing serially, shall be included in Account 4050, Current 
Maturities--Long-Term Debt.
    (f) Investment advances, including those represented by notes, shall 
be included in Account 4270, Other Long-Term Debt.