Company: KD
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001558370-25-000688
Chunk: 15

Company: Kyndryl Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 15
---
 ordinary income, exclusive of discrete items, to arrive at the reported interim tax provision.Change in Accounting EstimateIn March 2024, the Company completed its assessment of the useful lives of its information technology equipment. Based on our usage experience and data analysis, the Company determined it should increase the estimated useful lives of its information technology equipment from five to six years. This change in accounting estimate became effective on April 1, 2024. Based on the carrying amount of information technology equipment included in property and equipment, net as of March 31, 2024, the effect of this change in estimate was a reduction in depreciation expense and an improvement of income before income taxes of approximately $40 million, or $0.18 before income taxes per basic and diluted share, for the three months ended December 31, 2024 and approximately $150 million, or $0.67 before