WAFD INCWAFD

WAFD INC New Standards Disclosure

10-KFiled Nov 18, 20252 min read
New Accounting Pronouncements. In October 2023, the FASB issued ASU 2023-06 Disclosure Improvements: Codification
Amendments in Response to the SEC's Disclosure Update and Simplification Initiative to clarify or improve disclosure and
presentation requirements on a variety of topics and align the requirements in the FASB accounting standard codification with
the SEC. The amendments will be effective for the Company only if the SEC removes the related disclosure requirement from
its existing regulations no later than June 30, 2027.  If the SEC timely removes such a related requirement from its existing
regulations, the corresponding amendments within the ASU will become effective for the Company on the same date with early
adoption permitted. The Company does not expect the amendments in this update to have a material impact on our consolidated
financial statements.
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses.  This accounting standards
update will require public companies to disclose, in the notes to financial statements, specified information about certain costs
and expenses at each interim and annual reporting period. As clarified by the FASB in ASU 2025-01, the amendments of ASU
2024-03 are effective for fiscal years beginning after December 15, 2026, and for quarterly reporting beginning after December
15, 2027. Early adoption is permitted. The Company does not expect this ASU to have a material effect on our consolidated
financial statements.
In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-use Software. This
ASU eliminates the concept of a software development project stage to better address an agile method of development and
introduces a new threshold for cost capitalization. The standard also provides factors to consider when determining whether
significant development uncertainty exists. The amendments of ASU 2024-03 are effective for annual reporting periods
beginning after December 15, 2027. Early adoption is permitted as of the beginning of the annual period. The Company does
not expect this ASU to have a material effect on our consolidated financial statements.

Historical Timeline

Fiscal YearFiled
2025Nov 18, 2025Showing above
2024Nov 20, 2024
2023Nov 17, 2023
2022Nov 18, 2022
2021Nov 19, 2021
2019Nov 20, 2019
2017Nov 21, 2017
2016Nov 21, 2016
2015Dec 3, 2015

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 TaxesRevenueFair ValuePP&EDebtCommitmentsStock Compensation