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Method of

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Financial

ASU. No.

Topic

Nature of Update

Date Adopted

Adoption

Statement Impact

2024-02

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Codification Improvements—Amendments to Remove References to the Concepts Statements

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This ASU contains amendments to the Codification that remove references to various Concepts Statements. In most instances the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior Statements to provide guidance in certain topical areas.

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January 1, 2025

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Prospectively

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Immaterial

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Date Adoption

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Adoption

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Expected

ASU. No.

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Topic

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Nature of Update

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Required

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Method

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Financial Impact

2023-09

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Income Taxes (Topic 740): Improvements to Income Tax Disclosures

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Among other things, these amendments require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and income tax paid information and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income [or loss] by the applicable statutory income tax rate).

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Annual reporting periods beginning after Dec. 15, 2024.

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Prospectively

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The Company will update its income tax disclosures upon adoption within its 2025 Form 10-K.

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2024-03

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Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

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This ASU requires public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period.

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Annual reporting periods beginning after Dec. 15, 2026, and interim periods within annual reporting periods beginning after Dec. 15, 2027.

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Retrospectively

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The Company is currently analyzing the impact of this ASU on its financial statements.











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2025-01

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Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date

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This ASU amends the effective date of ASU No. 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027.

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Annual reporting periods beginning after Dec. 15, 2026, and interim periods within annual reporting periods beginning after Dec. 15, 2027.

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Retrospectively

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The Company is currently analyzing the impact of this ASU on its financial statements.










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