Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 10

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 provided to the chief operating decision maker and included within segment profit and loss.  The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.  Topic 280 will first be effective for the Partnership’s fiscal 2025 annual report and should be applied retrospectively to all prior periods presented in the financial statements.  The Partnership is assessing the effect of this update on its consolidated financial statements and related disclosures.In December 2023, the FASB issued ASU 2023-09, “Income Taxes: Improvements to Income Tax Disclosures” (“Topic 740”).  This update requires disclosure of specific categories and disaggregation of information in the income tax rate reconciliation table.  Topic 740 also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations.  The requirements of Topic 740 are effective for annual periods beginning after December 15, 2024, which will be the Partnership’s fiscal 2026 annual report.  Early adoption is permitted and the amendments should be applied on a prospective basis with retrospective application also being permitted.  The Partnership is assessing the effect of this update on its consolidated financial statements and related disclosures.In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses” (“Subtopic 220-40”).  This update requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount and timing of expenses impacting financial performance.   Subtopic 220-40 may be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027.  Subtopic 220-40 will first be effective for the Partnership’s 2028 annual report.  The Partnership is assessing the effect of this update on its consolidated financial statements and related disclosures.SEC Climate Disclosures.  In March 2024, the SEC issued final rules to require disclosures about certain climate-related information in registration statements and annual reports.  In April 2024, the SEC issued an order to stay the rules pending the completion of judicial review of multiple petitions challenging the rules.  The rules will, if implemented as issued by the SEC, require disclosure of,