INTRUSION INC New Standards Disclosure

Recent Accounting Pronouncements

 

In December 2023, FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes: Improvements to Income Tax Disclosures. The new standard requires annual disclosure of the specific categories in the rate reconciliation, and additional information for reconciling items that meet a quantitative threshold. Additional information may be required on reconciling items. The new guidance is effective for fiscal years beginning after December 15, 2024, early adoption is permitted. The Company adopted this standard for the fiscal year ended December 31, 2025.

 

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. The new standard requires public business entities to disclose additional disaggregated information about certain income statement expense line items in the notes to the financial statements. The new guidance is effective for fiscal years beginning after December 15, 2026, early adoption is permitted. The Company is evaluating the impact of the new guidance on its Consolidated Financial Statements and related disclosures.

 

In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The new standard provides for a practical expedient to assume that current conditions as of the balance sheet date will persist through reasonable and supportable forecast period for eligible assets. The new guidance is effective for fiscal years beginning after December 15, 2025, early adoption is permitted. The Company is evaluating the impact of the new guidance on its Consolidated Financial Statements and related disclosures.

 

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. The new standard clarifies the applicability of interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP. The new guidance is effective for interim reporting periods beginning after December 15, 2027, early adoption is permitted. The Company is evaluating the impact of the new guidance on its Consolidated Financial Statements and related disclosures.

 

In December 2025, the FASB issued ASU 2025-12, Codification Improvements. The new standard addresses 33 technical issues, focusing on clarifying ASC 260 regarded diluted EPS during losses and refining disclosures for lease receivables. The new guidance is effective for fiscal years beginning after December 15, 2026, early adoption is permitted. The Company is evaluating the impact of the new guidance on its Consolidated Financial Statements and related disclosures.