GCM Grosvenor Inc.GCMG
GCM Grosvenor Inc. New Standards Disclosure
Recently Issued Accounting Standards
Recently Issued Accounting Standards - Adopted in Current Reporting Period
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires enhanced income tax disclosures including disclosures of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold, additional disclosures about income taxes paid, and disclosure of pre-tax income or loss from continuing operations disaggregated between domestic and foreign income or loss. This guidance is effective for public business entities for fiscal years beginning after December 15, 2024. The Company adopted this standard on December 31, 2025 on a retrospective basis and implemented the applicable disclosure requirements for the year ended December 31, 2025. Adoption of ASU 2023-09 did not have an impact on the Consolidated Statements of Financial Condition, Consolidated Statements of Comprehensive Income (Loss), or Consolidated Statements of Cash Flows. Refer to Note 18 to our Consolidated Financial Statements for related disclosures.
Recently Issued Accounting Standards – To be Adopted in Future Periods
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 requires public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 replaces the previous development stage model with guidance that requires capitalization of internal-use software costs once a project has been authorized and funding has been committed, provided completion is considered probable. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-06.
In December 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. ASU 2025-09 clarifies certain aspects of the hedge accounting guidance and addresses incremental issues that emerged following ASU 2017-12 and the global reference rate reform initiative, with the objective of more closely aligning
hedge accounting with the economics of an entity’s risk management activities. The amendments include updates related to assessing similar risk exposure for cash flow hedge groups, hedging variable interest payments on choose-your-rate debt structures, hedging components of nonfinancial forecasted transactions, the use of certain net written option strategies, and the accounting for foreign-currency-denominated debt in dual hedging relationships. ASU 2025-09 is effective for fiscal years beginning after December 15, 2026, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-09.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. ASU 2025-11 clarifies the applicability and organization of interim reporting disclosure requirements and introduces a disclosure principle requiring entities to disclose events occurring since the end of the most recent annual reporting period that have a material impact on the entity, with the objective of improving the consistency and clarity of interim financial reporting. The amendments also provide a comprehensive list of disclosures required in interim financial statements prepared in accordance with U.S. GAAP but do not change the fundamental nature of interim reporting or expand existing disclosure requirements. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-11.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 12, 2021 | |
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.