KIMCO REALTY CORP New Standards Disclosure

ASU

Description

Effective

Date

Effect on the financial

statements or other significant

matters

ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

ASU 2025-01, Income Statement - Reporting Comprehensive, Income -Expense Disaggregation Disclosures (Subtopic 220-40), Clarifying the Effective Date

These ASUs require additional disclosure about a public business entity’s expenses and more detailed information about the types of expenses in commonly presented expense captions. Such information should allow investors to better understand an entity's performance, assess future cash flows, and compare performance over time and with other entities. The amendments will require public business entities to disclose in the notes to the financial statements, at each interim and annual reporting period, specific information about certain costs and expenses, employee compensation, depreciation, and intangible asset amortization included in each expense caption presented on the face of the income statement, and the total amount of an entity's operating expenses.

Fiscal years beginning January 1, 2027, and interim periods for fiscal years beginning January 1, 2028; Early adoption permitted

The Company is reviewing the extent of new disclosures necessary prior to implementation. Other than additional disclosure, the adoption of these ASUs will not have a material impact on the Company's financial position and/or results of operations.

ASU 2025-03 Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity

The amendments in this ASU revise the guidance for determining the accounting acquirer in the acquisition of a VIE. An entity will be required to consider the factors in ASC 805-10-55-12 through 805-10-55-15 in determining which entity is the accounting acquirer when a VIE is acquired in a business combination effected primarily by exchanging equity interests. Previously, the primary beneficiary was always identified as the accounting acquirer in such transactions. The amendments are required to be applied prospectively to any acquisition transaction that occurs after the initial application date.

January 1, 2027; early adoption is permitted as of the beginning of an interim or annual reporting
period

The Company does not expect the adoption of this ASU, which is to be applied prospectively, to have a material impact on the Company’s financial position and/or results of operations.

ASU 2025-05 Financial Instruments - Credit Losses (Topic 326):

Measurement of Credit Losses for Accounts Receivable and Contract Assets

The amendments in this ASU provide a practical
expedient to assume that conditions as of the balance
sheet date remain unchanged over the life of the asset
when estimating expected credit losses for current
accounts receivable and current contract assets
arising from transactions accounted for under Topic
606. The amendments are to be applied
prospectively.

January 1, 2026;

early adoption is permitted as of the beginning of an interim or annual reporting period

The adoption of this ASU, which is to be applied prospectively, will not have a material impact on the Company’s financial position and/or results of operations.

ASU 2025-06,
Intangibles - Goodwill
and Other - Internal-Use
Software (Subtopic 350-
40): Targeted
Improvements to the
Accounting for Internal-
Use Software

This ASU amends the existing standard to remove all
references to prescriptive and sequential software
development project stages. Under this guidance,
eligible software development costs will begin
capitalization when management has authorized and
committed to funding the software project, and it is
probable that the project will be completed and the
software will be used to perform the function
intended. In evaluating whether it is probable the
project will be completed;, management is required
to consider whether there is significant uncertainty
associated with the development activities of the
software. The amendments may be applied on a
prospective basis, a modified basis for in-process
projects, or a retrospective basis.

January 1, 2028;
early adoption is
permitted as of the
beginning of an
annual reporting
period

The Company is
assessing the impact this
ASU will have on the
Company’s financial
position and/or results of
operations.

ASU

Description

Effective

Date

Effect on the financial

statements or other significant

matters

ASU 2025-07,
Derivatives and Hedging
(Topic 815) and Revenue
from Contracts with
Customers (Topic 606):
Derivatives Scope
Refinements and Scope
Clarification for Share-
Based Noncash
Consideration
from a Customer in a
Revenue Contract

The new guidance will reduce the number of
contracts (or embedded features within instruments)
that are accounted for as derivatives under Topic
815. This ASU adds a new scope exception to the
derivatives guidance for underlyings based on the
operations or activities specific to one of the parties
to the contract. This ASU also clarifies that share-based
noncash consideration received from a
customer as consideration for the transfer of goods or
services in a revenue contract is subject to the
revenue guidance and not the financial instruments
guidance unless and until the company’s right to
receive or retain the share-based noncash
consideration is “unconditional,” as defined in this
ASU. The amendments may be applied on a
prospective basis or on a modified retrospective basis
through a cumulative-effect adjustment to the
opening balance of retained earnings.

January 1, 2027;
early adoption is
permitted as of the
beginning of an
interim or annual
reporting period

The Company is
assessing the impact this
ASU will have on the
Company’s financial
position and/or results of
operations.

ASU 2025-08, Financial Instruments - Credit Losses (Topic 326): Purchased Loans

The new guidance makes significant changes to the accounting for certain acquired seasoned loans subject to CECL. The FASB decided not to change the existing models for originated assets, purchased credit deteriorated assets ("PCD") or other acquired assets.

Under this ASU, the initial allowance for credit losses recorded upon the acquisition of loans in scope is recognized as an adjustment to the amortized cost basis of the loan–similar to the PCD model. For these loans, the “day-one” credit loss estimate does not impact earnings immediately but rather is amortized over time as an adjustment to interest income. Subsequent changes in the allowance for credit losses are reported in earnings within credit loss expense. The amendments should be applied prospectively to loans that are acquired on or after the initial application date.

January 1, 2027; early adoption is permitted

The Company is
assessing the impact this
ASU, which is applied prospectively, will have on the Company’s financial
position and/or results of
operations.

ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements

This ASU clarifies certain aspects of the guidance on
hedge accounting and to address several incremental hedge accounting issues arising from the global reference rate reform initiative.

The five main provisions include:

The amendments should be applied prospectively, and there are transition provisions designed to assist in migrating existing hedging relationships to the new guidance.

January 1, 2027; early adoption is permitted on any date on or after the
issuance of this ASU

The Company is
assessing the impact this
ASU, which is applied prospectively, will have on the Company’s financial
position and/or results of
operations.

ASU 2025-11, Interim Reporting (Topic 270): - Narrow-Scope Improvements

This ASU clarifies interim disclosure requirements, including providing a comprehensive list of interim disclosure requirements under U.S. GAAP and a disclosure principle that

January 1, 2028; early adoption is permitted

The Company is
assessing the impact this
ASU, which can be applied

ASU

Description

Effective

Date

Effect on the financial

statements or other significant

matters

requires entities to disclose events since the last annual reporting period that have a material impact on the entity. The amendments can be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements.

prospectively, will have on the Company’s financial
position and/or results of
operations.

ASU

Description

Adoption Date

Effect on the financial statements or other significant matters

ASU 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement

The amendments in this ASU address the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. To reduce diversity in practice and provide decision-useful information to a joint venture’s investors, these amendments require that a joint venture apply a new basis of accounting upon formation. By applying a new basis of accounting, a joint venture, upon formation, will recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). Additionally, existing joint ventures have the option to apply the guidance retrospectively.

January 1, 2025

This ASU does not impact accounting for joint ventures by the venturers. As such, the adoption of this ASU did not have an impact on the Company’s financial position and/or results of operations.

ASU 2024-01, Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards

The amendments in this ASU clarify how to determine whether profits interest and similar awards should be accounted for as share-based payment arrangements (ASC 718) or as cash bonus or profit-sharing arrangements (ASC 710, Compensation - General, or other guidance) and apply to all reporting entities that account for profits interest awards as compensation to employees or non-employees. In addition to the illustrative guidance, this ASU modifies the language in paragraph 718-10-15-3 to improve its clarity and operability without changing the guidance. The amendments should be applied either retrospectively to all prior periods presented in the financial statements, or prospectively to profits interests and similar awards granted or modified on or after the adoption date.

January 1, 2025

The adoption of this ASU did not have a material impact on the Company’s financial position and/or results of operations.

ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

This ASU requires entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The guidance requires public business entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The guidance requires all entities to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold.

Fiscal year beginning January 1, 2025

The adoption of this ASU did not have a material impact on the Company’s financial position and/or results of operations.