Relevant standards that were recently issued but not yet adopted as of June 30, 2025: | | | | | | | | | | | | | | | | | Standard | Description | Effective Date | Effects on the financial statements or other significant matters | ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation Disclosures | The amendments require disclosure of information about certain costs and expenses in both interim and annual reporting periods. Specified information includes expense amounts relating to purchases of inventory, employee compensation, depreciation, intangible asset amortization, and selling expenses with the definition thereof. | Annual reporting for period ending December 31, 2027 and for interim reporting in 2028 | We are currently evaluating the disclosure impact of the new standard. | | ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures | The amendments related to the rate reconciliation and income taxes paid disclosures and require disclosures of (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. Additional amendments require (1) disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission regulations, and (2) remove disclosures that no longer are considered cost beneficial or relevant. | Annual reporting for period ending December 31, 2025 | We do not expect the adoption of the new standard to have a material impact on our financial statements. |
|