Construction Partners, Inc.ROAD

Construction Partners, Inc. New Standards Disclosure

10-KFiled Nov 25, 20251 min read
Recently Adopted Accounting Pronouncements
In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU 2023-07, “Segment Reporting - Improvements to Reportable Segment Disclosures,” which requires enhanced disclosures related to significant segment expenses and a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The new standard is effective for fiscal years beginning after December 15, 2023 and is to be applied retrospectively. The Company adopted this ASU retrospectively for the fiscal year ended September 30, 2025.
Accounting Standards Pending Adoption
In December 2023, the FASB issued ASU 2023-09, “Income Taxes - Improvements to Income Tax Disclosures,” which requires disclosure of specific categories and disaggregation of information in the rate reconciliation table and expands disclosures related to income taxes paid. The new standard is effective for fiscal years beginning after December 15, 2024 and is to be applied prospectively. The Company does not expect ASU 2023-09 to have a material impact on the Company’s financial statements and disclosures.
In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses,” which requires disclosure of additional information about certain expenses in the notes to the financial statements. The new standard is effective for fiscal years beginning after December 15, 2026 and is to be applied prospectively. The Company does not expect ASU 2024-03 to have a material impact on the Company’s financial statements and disclosures.
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Historical Timeline

Fiscal YearFiled
2025Nov 25, 2025Showing above
2024Nov 25, 2024
2023Nov 29, 2023
2022Nov 22, 2022
2021Nov 29, 2021
2020Dec 11, 2020
2019Dec 13, 2019
2018Dec 14, 2018

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.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesDebtCommitmentsStock CompensationPay vs PerformanceNEO Compensation Adjustments