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It covered only binary floating-point arithmetic. A new version, IEEE 754-2008, was published in August 2008, following a seven-year revision process, chaired by Dan Zuras and edited by Mike Cowlishaw. It replaced both IEEE 754-1985 (binary floating-point arithmetic) and IEEE 854-1987 Standard for Radix-Independent Floating-Point Arithmetic ...
This means that numbers that appear to be short and exact when written in decimal format may need to be approximated when converted to binary floating-point. For example, the decimal number 0.1 is not representable in binary floating-point of any finite precision; the exact binary representation would have a "1100" sequence continuing endlessly:
Before the widespread adoption of IEEE 754-1985, the representation and properties of floating-point data types depended on the computer manufacturer and computer model, and upon decisions made by programming-language designers. E.g., GW-BASIC's single-precision data type was the 32-bit MBF floating-point format.
[citation needed] Before the widespread adoption of IEEE 754-1985, the representation and properties of floating-point data types depended on the computer manufacturer and computer model, and upon decisions made by programming-language implementers. E.g., GW-BASIC's double-precision data type was the 64-bit MBF floating-point format.
The number 0.15625 represented as a single-precision IEEE 754-1985 floating-point number. See text for explanation. The three fields in a 64bit IEEE 754 float. Floating-point numbers in IEEE 754 format consist of three fields: a sign bit, a biased exponent, and a fraction. The following example illustrates the meaning of each.
The octuple-precision binary floating-point exponent is encoded using an offset binary representation, with the zero offset being 262143; also known as exponent bias in the IEEE 754 standard. E min = −262142
Biased representations are now primarily used for the exponent of floating-point numbers. The IEEE 754 floating-point standard defines the exponent field of a single-precision (32-bit) number as an 8-bit excess-127 field. The double-precision (64-bit) exponent field is an 11-bit excess-1023 field; see exponent bias.
Annex "Z" introduced optional data types for supporting other fixed-width floating-point formats, as well as arbitrary-precision formats (i.e., where the precision of representation and rounding is determined at execution time) – some of this material was moved into the body of the draft by generalizing section 5. Arbitrary precision was dropped.