Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 12

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 12
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 the recoverability of long-lived assets, estimated fair values of long-lived assets used to record impairment charges related
to investments, goodwill, intangible assets, amortization periods, accrued expenses, and recoverability of the Company’s net deferred
tax assets and any related valuation allowance.

Although the Company regularly assesses these estimates,
actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known.
Acquisitions and divestitures are not announced until certain. The Company bases its estimates on historical experience and various other
assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if
past experience or other assumptions do not turn out to lead to substantially accurate predictions.

Recent Accounting Standards

From time to time, the Financial Standards Accounting
Board (“FASB”) or other standards-setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standard
Codifications (“ASCs”) are communicated through the issuance of an Accounting Standards Update (“ASU”). Unless
otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected
to have a material impact on our consolidated financial statements upon adoption.

Segment Reporting: Improvements to Reportable
Segment Disclosures - In November 2023, the FASB issued Accounting Standards Update ASU 2023-07, “Segment Reporting (Topic
280): Improvements to Reportable Segment Disclosures,” updates ASC 280 to expand annual and interim disclosure requirements
for reportable segments, primarily through enhanced disclosures about significant segment expenses. We adopted ASU 2023-07 in fiscal year
2024.

Income Taxes: Improvements to Income Tax Disclosures
- In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topics 740): Improvements to Income Tax Disclosures,”
updates ASC 740 to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes
paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of this
ASU is not expected to have a material impact on the Company’s consolidated financial statements.

Income Statement - Reporting Comprehensive Income
- Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses - In November 2024, the FASB issued ASU 2024-03