ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) Issued November 2024
This ASU requires additional disclosure in the notes to financial statements of specified information about certain costs
and expenses. The ASU is effective in reporting periods beginning after December 15, 2026, and interim periods within
annual reporting periods beginning after December 15, 2027, on a prospective or retrospective basis. Early adoption is
permitted. The Company is currently assessing the impact upon adoption of this standard on the consolidated financial
statements.
ASU 2024-01, Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and
Similar Awards Issued March 2024
This ASU clarifies how to determine whether profits interest and similar awards should be accounted for as share-based
payment arrangements. The ASU is effective in reporting periods beginning after December 15, 2024, including interim
periods within the fiscal year, on a prospective or retrospective basis. Early adoption is permitted. The Company is
currently assessing the impact upon adoption of this standard on the consolidated financial statements.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures Issued December 2023
This ASU improves income tax disclosure requirements, primarily through standardization of rate reconciliation
categories and disaggregation of income taxes paid by jurisdiction. The ASU is effective in reporting periods beginning
after December 15, 2024 on a prospective or retrospective basis. Early adoption is permitted. The Company is currently
assessing the impact upon adoption of this standard on the consolidated financial statements.
ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures Issued November
2023
This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about
significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”). This ASU
is effective in reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, on a retrospective basis. The adoption of this standard did not have an impact on the
Company's consolidated financial statements.
ASU 2023-05, Business Combinations- Joint Venture Formations (Topic 805): Recognition and Initial
Measurement Issued August 2023
This ASU applies to the formation of a “joint venture” or a “corporate joint venture” and requires a joint venture to
initially measure all contributions received upon its formation at fair value and is applicable to joint venture entities with
a formation date on or after January 1, 2025 on a prospective basis. The Company is currently assessing the impact of
the adoption of this standard on the consolidated financial statements.