URBAN OUTFITTERS INC New Standards Disclosure
Recent Accounting Pronouncements
Recently Adopted
In December 2023, the Financial Accounting Standards Board ("FASB") issued an accounting standards update which includes amendments that further enhance income tax disclosures. The update requires disaggregated information about an entity's effective tax rate reconciliation and income taxes paid by jurisdiction, among other changes. The Company adopted this update in this Annual Report on Form 10-K for the fiscal year ended January 31, 2026, on a prospective basis. The adoption of this update resulted in additional disclosures in Note 10, "Income Taxes."
Recently Issued
In November 2024, the FASB issued an accounting standards update which requires disaggregated disclosure of certain costs and expenses including purchases of inventory, employee compensation, depreciation, amortization and other costs within relevant income statement captions. The update will be effective for the Company in its annual consolidated financial statements for the fiscal year ending January 31, 2028, and interim periods thereafter. The Company is currently assessing this update and the additional disclosures that will be required within the notes to its consolidated financial statements.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 1, 2026 | Showing above |
| 2025 | Apr 1, 2025 | |
| 2024 | Apr 1, 2024 | |
| 2023 | Apr 3, 2023 | |
| 2022 | Apr 1, 2022 | |
| 2021 | Apr 1, 2021 | |
| 2020 | Mar 31, 2020 | |
| 2019 | Apr 1, 2019 | |
| 2018 | Apr 2, 2018 | |
| 2017 | Apr 3, 2017 | |
| 2016 | Mar 31, 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.