Quarterly report [Sections 13 or 15(d)]

Note 2 - Accounting Standards

v3.25.1
Note 2 - Accounting Standards
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Accounting Standards Update and Change in Accounting Principle [Text Block]

2. ACCOUNTING STANDARDS

 

RECENTLY ADOPTED ACCOUNTING STANDARD

 

On January 1, 2025, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures; however, the required disclosures are effective for our 2025 annual reporting period and interim reporting periods within fiscal years beginning after December 15, 2025. We are currently evaluating the impact of the adoption of this accounting standard on the related disclosures.

 

ACCOUNTING STANDARD PENDING ADOPTION IN FUTURE PERIODS

 

The following relevant accounting standard becomes effective subsequent to fiscal year 2025, and we are currently evaluating the impact of the future adoption of this accounting standard on the related disclosures:

 

 

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FASB ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Topic 220-40): Disaggregation of Income Statement Expenses, effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027