Can I present sublease income and lease expense net on the income statement? In my case, the amounts exactly offset each other.
Sublease income presentation
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ASC 842 does not provide explicit guidance regarding sublease income presentation. Generally, you would present them gross unless subleasing is not a significant business activity or net presentation would be more meaningful. However, if the sublease does not relieve the sublessor’s obligation under the head lease, you should present sublease income and lease expense gross on the income statement to be consistent with the gross presentation on the balance sheet.