XML 21 R10.htm IDEA: XBRL DOCUMENT v3.25.1
Note 3 - Other Accounting Standards Pending Adoption
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Accounting Standards Update and Change in Accounting Principle [Text Block]

3. Other Accounting Standards Pending Adoption

 

In  November 2024, ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, was issued. This ASU requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for us, on a prospective basis, for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, though early adoption and retrospective application is permitted. ASU 2024-03 is not expected to have a significant impact on our financial statements.

 

In December 2023, ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” was issued.  This ASU amends the disclosure requirements for income taxes, including the requirement for further disaggregation of the income tax rate reconciliation and income taxes paid disclosures.  The amendments in this guidance are effective for annual periods beginning after December 15, 2024.  These amendments should be applied prospectively, with the option to apply retrospectively.  ASU 2023-09 is effective for us in 2025 and is not expected to have a significant impact on our financial statements.