HENRY SCHEIN INCHSIC
HENRY SCHEIN INC New Standards Disclosure
Accounting Pronouncements Recently Adopted
During the year ended December 27, 2025, we adopted Accounting Standards Update (“ASU”) 2023-09, “
Income
Taxes (Topic 740): Improvements to Income Tax Disclosures
,” which requires public business entities to disclose
additional information in specified categories with respect to the reconciliation of the effective tax rate to the
statutory rate for federal, state and foreign income taxes. It also requires greater detail about individual reconciling
items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. In addition to
new disclosures associated with the rate reconciliation, this ASU requires information pertaining to taxes paid (net
of refunds received) to be disaggregated for federal, state and foreign taxes and further disaggregated for specific
jurisdictions to the extent the related amounts exceed a quantitative threshold. This ASU also describes items that
need to be disaggregated based on their nature, which is determined by reference to the item’s fundamental or
essential characteristics, such as the transaction or event that triggered the establishment of the reconciling item and
the activity with which the reconciling item is associated. This ASU eliminates the historic requirement that
entities disclose information concerning unrecognized tax benefits having a reasonable possibility of significantly
increasing or decreasing in the 12 months following the reporting date. We adopted this ASU on a prospective
basis, which resulted in the required additional disclosures included in
During the year ended December 28, 2024, we adopted ASU 2023-07, “
Segment Reporting (Topic 280):
Improvements to Reportable Segments
” (“Topic 280”), which aims to improve financial reporting by requiring
disclosure of incremental segment information on an annual and interim basis for all public entities to enable
investors to develop more decision-useful financial analyses. The amendments in Topic 280 do not change how a
public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative
thresholds to determine its reportable segments. We adopted Topic 280 on a retrospective basis, which resulted in
the required additional disclosures included in our consolidated financial statements.
Recently Issued Accounting Pronouncements
In December 2025, the Financial Accounting Standards Board (“FASB”) issued ASU 2025-11, “
Interim Reporting
(Topic 270): Narrow -Scope Improvements
,” which is intended to improve navigability of the guidance in Topic
270, Interim Reporting, and clarify when it applies. The ASU also addresses the form and content of such financial
statements and interim disclosure requirements, and establishes a principle under which an entity must disclose
events since the end of the last annual reporting period that have a material impact on the entity. This ASU is
effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within
those annual reporting periods, with early adoption permitted. We are currently evaluating the impact that ASU
2025-11 will have on our consolidated financial statements and related disclosures.
In December 2025, the FASB issued ASU 2025-10, “
Government Grants (Topic 832) - Accounting for Government
Grants Received by Business Entities,
” which establishes guidance on the recognition, measurement, and
presentation of government grants received by business entities. This ASU is effective for annual reporting periods
beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early
adoption permitted. We are currently evaluating the impact that ASU 2025-10 will have on our consolidated
financial statements and related disclosures.
In November 2025, the FASB issued ASU 2025-09, “
Derivatives and Hedging (Topic 815): Hedge Accounting
Improvements,
” which is intended to more closely align financial reporting with the economics of entities’ risk
management activities, including expanded eligibility of forecasted transactions, additional flexibility in measuring
hedge effectiveness, and clarifications related to hedging non-financial items. This ASU is effective for annual
reporting periods beginning June 1, 2027, and interim reporting periods within those annual reporting periods, with
early adoption permitted, and should be applied prospectively. We are currently evaluating the impact that ASU
2025-09 will have on our consolidated financial statements and related disclosures.
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
,” which removes all
references to software development project stages. The ASU requires entities to begin capitalizing software costs
when management authorizes and commits to funding the software project, and it is probable that the project will
be completed and the software will be used for its intended purpose. This ASU is effective for annual reporting
periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods,
with early adoption permitted. Upon adoption, the guidance can be applied prospectively, retrospectively, or with a
modified transition approach. We are currently evaluating the impact that ASU 2025-06 will have on our
consolidated financial statements.
In July 2025, the FASB issued ASU 2025-05, “
Financial Instruments - Credit Losses (Subtopic 326): Measurement
of Credit Losses for Accounts Receivable and Contract Assets,
” which introduces a practical expedient permitting
an entity to assume that conditions at the balance sheet date remain unchanged throughout the remaining life of the
asset when estimating expected credit losses on current accounts receivable and current contract asset under Topic
606 on revenue from contracts with customers. This ASU is effective for annual reporting periods beginning after
December 15, 2025, with early adoption permitted. We do not expect ASU 2025-05 to have a material impact on
our consolidated financial statements.
In November 2024, the FASB issued ASU 2024-03, “
Income Statement - Reporting Comprehensive Income -
Expense Disaggregation Disclosure (Subtopic 220-40)
:
Disaggregation of Income Statement Expenses
,” which
requires additional disclosure about the specific expense categories in the notes to financial statements at interim
and annual reporting periods. The amendments in this ASU do not change or remove current expense disclosure
requirements, but affect where this information appears in the notes to financial statements. This ASU is effective
for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after
December 15, 2027, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or
retrospectively. We are currently evaluating the impact that ASU 2024-03 will have on our consolidated financial
statements.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 10, 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.