Recent Accounting Pronouncements

Accounting Pronouncement Adopted in Fiscal 2026

The following table summarizes Accounting Standards Updates ("ASUs") which were adopted in fiscal 2026, but did not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.

ASUDescriptionAdoption Date
ASU 2023-09Income Taxes (Topic 740): Improvements to Income Tax DisclosuresFiscal 2026

Accounting Pronouncements not yet Adopted

The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.

ASUDescriptionAdoption Date
ASU 2025-06Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use SoftwareFiscal 2029
ASU 2025-05Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract AssetsFiscal 2027
ASU 2025-03Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest EntityFiscal 2028
ASU 2024-04Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt InstrumentsFiscal 2027
ASU 2024-03Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesFiscal 2028
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Historical Timeline

Fiscal YearFiled
2026Jun 16, 2026Showing above
2025Jun 17, 2025
2024Jun 17, 2024
2023Jun 20, 2023
2022Jun 21, 2022
2021Jun 15, 2021
2020Jun 23, 2020
2019Jun 18, 2019
2018Jun 19, 2018
2017Jun 20, 2017
2016Jun 21, 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.