Core Scientific, Inc./txCORZ

Core Scientific, Inc./tx New Standards Disclosure

10-KFiled Mar 2, 20262 min read
Recently Adopted Accounting Standards
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
(“ASU 2023-09”), which enhances income tax disclosure requirements, including (i) additional disaggregation of income tax
information and (ii) additional rate reconciliation disclosures, including specified categories and further disaggregation of items
meeting a quantitative threshold. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15,
2024, and are to be applied prospectively (retrospective application is permitted). The Company adopted ASU 2023-09 effective
January 1, 2025, applied prospectively, and the required disclosures are included in this Annual Report on Form 10-K for the year
ended December 31, 2025.
Accounting Standards Not Yet Adopted
In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20):
Induced Conversions of Convertible Debt Instruments (“ASU 2024-04”), which clarifies the accounting for certain settlements of
convertible debt instruments as induced conversions versus extinguishments. The guidance is effective for fiscal years beginning after
December 15, 2025. The Company expects to adopt ASU 2024-04 on its required effective date and apply the guidance prospectively.
The Company does not expect adoption to have a material impact on its consolidated financial statements and related disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense
Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires
disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. In
January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03 for all public business entities. The
amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within
annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied
prospectively; retrospective application is also permitted. The Company is currently evaluating the impact these ASUs will have on its
consolidated financial statements and related disclosures.
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Historical Timeline

Fiscal YearFiled
2025Mar 2, 2026Showing above
2024Feb 27, 2025
2023Mar 13, 2024
2022Apr 4, 2023
2021Mar 30, 2022

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.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsPay vs Performance