GENESIS ENERGY LPGEL

GENESIS ENERGY LP New Standards Disclosure

10-KFiled Feb 18, 20261 min read
Recent Accounting Pronouncements
We have adopted guidance under ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”) for the year ended December 31, 2025, and applied the new disclosure requirements retrospectively. ASU 2023-09 enhanced the transparency and decision usefulness of income tax disclosures primarily through requiring the disclosure of specific categories in the rate reconciliation as well as disclosure of income taxes paid disaggregated by jurisdiction. The adoption of ASU 2023-09 did not have a material impact on our disclosures. Refer to Note 16 and Note 22 for details.
In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures,” (“ASU 2024-03”), which requires additional disclosures of the specific types of expenses included in the expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The requirements will be applied prospectively, with the option for retrospective application. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures.
All other new accounting pronouncements that have been issued, but not yet effective, are currently being evaluated and, at this time, are not expected to have a material impact on our financial position or results of operations.

Historical Timeline

Fiscal YearFiled
2025Feb 18, 2026Showing above
2024Mar 3, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 24, 2022
2020Mar 1, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Feb 26, 2018
2016Feb 27, 2017
2015Feb 26, 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.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitments