Although our proposed solution offers the opportunity to test a portion of the theory proposed by Maines and McDaniel (2000), we also focus on our proposed solution for two additional reasons. First, disaggregation offers a potential solution that is practical and cost effective because firms already track information related to lease options in order to evaluate which options meet the certainty threshold, making our proposal consistent with Bonner (1999), who emphasizes the importance of examining solutions that can be implemented in practice. Second, disaggregating lease renewal periods from non-cancelable lease periods is consistent with the presentation requirements being considered in the proposed leasing standard and also with a more general change that is being proposed in a separate joint project on financial statement presentation.