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New Developments Summary: Evaluating embedded conversion features

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NDS 2015-02 updates NDS 2013-04 to incorporate the guidance in ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. The guidance in ASU 2014-16 is effective for public business entities in fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and for other entities with fiscal years beginning after December 15, 2015, and with interim periods within fiscal years beginning after December 15, 2016. Early adoption is permitted. Entities that have not adopted the guidance in ASU 2014-16 can refer to NDS 2013-04.