STEWART INFORMATION SERVICES CORPSTC

STEWART INFORMATION SERVICES CORP New Standards Disclosure

10-KFiled Feb 27, 20261 min read
Recently adopted accounting standards. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 also includes certain other amendments to improve the effectiveness of income tax disclosures. The Company adopted ASU 2023-09 for the 2025 annual reporting and applied retrospective disclosures for all prior periods presented. The adoption of ASU 2023-09 did not have a material impact on the Company's consolidated financial statements, except for the disclosure requirements provided in Note 7, Income taxes.

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 TaxesRevenueEarnings Per ShareFair ValueGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationPay vs Performance