New Accounting Pronouncements and Policies
In November 2023,
 
the Financial Accounting Standards
 
Board (“FASB
 
”) issued Accounting Standards
 
Update (“ASU”) 2023-
07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
. This ASU requires enhanced disclosures
about significant
 
segment expenses
 
regularly provided
 
to the
 
chief operating
 
decision maker
 
that are
 
included within
 
each reported
measure of segment profit or
 
loss, and requires all
 
annual disclosures currently required by
 
Topic 280
 
to be included in
 
interim
periods. The Company adopted ASU 2023-07 effective
 
fiscal year 2025. The pronouncement was adopted retrospectively
 
to all
prior periods presented. For additional information, refer to
In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic
 
740) – Improvements to Income Tax
 
Disclosures
. This
ASU
 
requires
 
that
 
an
 
entity,
 
on
 
an
 
annual
 
basis,
 
disclose
 
additional
 
income
 
tax
 
information,
 
primarily
 
related
 
to
 
the
 
rate
reconciliation and income
 
taxes paid. The
 
ASU is intended
 
to enhance the
 
transparency and decision
 
usefulness of income
 
tax
disclosures.
 
ASU
 
2023-09
 
is
 
effective
 
for
 
annual
 
periods
 
beginning
 
after
 
December
 
15,
 
2024.
 
The
 
Company
 
is
 
currently
evaluating the impact of ASU 2023-09 on its consolidated financial statement disclosures.
In
 
November
 
2024,
 
the
 
FASB
 
issued
 
ASU
 
2024-03,
Income
 
Statement
Reporting
 
Comprehensive
 
Income
Expense
Disaggregation Disclosures (Subtopic
 
220-40)
. The objective of ASU 2024-03 is to improve
 
disclosures about a public entity’s
expenses, primarily through
 
additional disaggregation of
 
income statement expenses. Additionally,
 
in January 2025,
 
the FASB
further
 
clarified
 
the
 
effective
 
date
 
of
 
ASU
 
2024-03
 
with
 
the
 
issuance of ASU
 
2025-01.
 
ASU
 
2024-03 is effective
 
for
 
annual
periods beginning after December
 
15, 2026, and
 
interim periods within annual
 
reporting periods beginning after
 
December 15,
2027. Early adoption
 
is permitted and
 
may be applied
 
either on a
 
prospective or retrospective basis.
 
The Company is
 
currently
evaluating the impact of ASU 2024-03 on its consolidated financial statement disclosures.

Historical Timeline

Fiscal YearFiled
2025Jul 22, 2025Showing above
2024Jul 23, 2024
2023Jul 25, 2023
2022Jul 19, 2022
2021Jul 19, 2021
2020Jul 20, 2020
2019Jul 22, 2019
2018Jul 23, 2018
2017Jul 24, 2017
2016Jul 18, 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.