Company: BKTI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033457
Chunk: 19

Company: BK Technologies Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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, and other liabilities approximated their respective fair value due to the short-term nature and maturity of these instruments.

       7

    Recent 
    Accounting Pronouncements 

   The Company does not discuss recent pronouncements that are not anticipated to have a material impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.
    
   In  December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after  December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company will adopt the ASU and will make the applicable disclosure, as required, on its Annual Report Form 10-K for the year ended  December 31, 2025.  The Company does not expect the adoption of  ASU 2023-09 to have a material effect on its consolidated financial statements.
    
   In  November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, an accounting standard update to improve income statement expenses disclosures. The standard requires more detailed information related to the types of expenses, including (among other items) the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each interim and annual income statement’s expense caption, as applicable. This authoritative guidance can be applied prospectively or retrospectively and will be effective for fiscal years beginning after  December 15, 2026, with early adoption permitted. The Company does not expect the adoption of  ASU 2024-03 to have a material effect on its consolidated financial statements.

   Segment Reporting Disclosures
    
   The Company has one reportable segment - Land Mobile Radio (LMR) Products and Solutions.
    
   The LMR segment provides radio devices that are hand-held (portable) or installed in vehicles (mobile) and operate on private radio systems that are Project 25 ("P25") compliant.  The Company derives revenue primarily in North America and manages the business activities on a consolidated basis.