AVNET INC New Standards Disclosure
Recently adopted accounting pronouncements — In November 2023, the FASB issued ASU No. 2023-07, Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires the Company to disclose
significant segment expenses, the title and position of the Company’s Chief Operating Decision Maker (CODM), and an explanation of how the Company’s reported measure of segment profit or loss is used by the CODM to assess segment performance and make resource allocation decisions. The Company adopted this guidance in the fourth quarter of fiscal 2025 on a retrospective basis. The Company’s adoption of ASU No. 2023-07 did not have a material impact on the Company's consolidated financial statements but did require additional disclosures. Refer to Note 16 “Segment information.”
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 15, 2025 | Showing above |
| 2024 | Aug 14, 2024 | |
| 2023 | Aug 18, 2023 | |
| 2022 | Aug 12, 2022 | |
| 2021 | Aug 13, 2021 | |
| 2020 | Aug 14, 2020 | |
| 2019 | Aug 15, 2019 | |
| 2018 | Aug 17, 2018 | |
| 2017 | Aug 17, 2017 | |
| 2016 | Aug 12, 2016 | |
About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.