ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS |
3 Months Ended |
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Sep. 30, 2026 | |
| Accounting Policies [Abstract] | |
| ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS | ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS Accounting Pronouncements Adopted in Fiscal 2027 During Fiscal 2027, we adopted the following Accounting Standards Update (ASU): Credit Losses In July 2025, the FASB issued ASU 2025-05 “Financial Instruments - Credit Losses (Topic 326),” which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Topic 606, Revenue from Contracts with Customers. We adopted this ASU as of July 1, 2026, which did not have an impact on our Condensed Consolidated Financial Statements and related disclosures. Accounting Pronouncements Not Yet Adopted in Fiscal 2027 Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03 “Disaggregation of Income Statement Expenses (Subtopic 220-40),” which requires additional disclosures of specific expense categories included within income statement expense captions. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The amendments in this ASU are to be applied on a prospective basis with the option for retrospective application, and early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2024-03 on the Company’s financial disclosures. Internal-Use Software In September 2025, the FASB issued ASU 2025-06 “Intangible - Goodwill and Other - Internal-Use Software (Subtopic 350-40),” which amends guidance related to the accounting for internal-use software development costs. The guidance will be effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. The amendments in this ASU may be applied on a prospective, modified prospective or retrospective basis, with early adoption permitted. We are currently evaluating the impact of the adoption of ASU 2025-06 on the Company’s financial disclosures. Derivatives and Hedging and Revenue from Contracts with Customers In September 2025, the FASB issued ASU 2025-07 “Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606),” which clarifies the application of derivative accounting to contracts that have features based on the operations or activities of one of the parties to the contract and reduces diversity in the accounting for share-based payments in revenue contracts. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. The amendments in this ASU may be applied on a prospective or modified retrospective basis, with early adoption permitted. We do not expect ASU 2025-07 to have an impact on the Company’s financial disclosures.
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