Company: CRWS
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001437749-25-003486
Chunk: 1

Company: CROWN CRAFTS INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 of ASU No. 2023-07against its existing disclosures related to segment reporting.

InDecember 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740 - Improvements to Income Tax Disclosures, the objective of which is to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU No. 2023-09are required to be adopted for fiscal years beginning afterDecember 15, 2024and early adoption is permitted. The Company is evaluating the guidance of the ASU No. 2023-09against its existing disclosures related to income tax disclosures.

InNovember 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220 40Disaggregation of Income Statement Expenses, the objective of which is to enhance the transparency and usefulness of financial statements by requiring public business entities to provide more detailed disclosures about their expenses. The amendments in ASU No. 2024-03are required to be adopted for annual reporting periods beginning afterDecember 15, 2026, and for interim periods within annual reporting periods beginning afterDecember 15, 2027, and early adoption is permitted. The Company is evaluating the guidance of the ASU No. 2024-03against its existing disclosures related to income statement expenses.

The Company has determined that all other ASUs issued which had become effective as ofDecember 29, 2024, or which will become effective at some future date, are notexpected to have a material impact on the Company’s consolidated financial statements.