Company: AOSL
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001387467-25-000017
Chunk: 67

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 67
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 regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of our provision for income taxes.  To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will impact the provision for income taxes in the period in which such determination is made.  The provision for income taxes includes the impact of changes to reserves, as well as the related net interest and penalties.Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources.  The Company’s accumulated other comprehensive income (loss) consists of cumulative foreign currency translation adjustments.  Total comprehensive income (loss) is presented in the condensed consolidated statements of comprehensive Income (loss). Recent Accounting Pronouncements    Recently Adopted Accounting StandardsNoneRecently Issued Accounting Standards not yet adoptedIn November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU also expands disclosure requirements to enable users of financial statements to better understand the entity’s measurement and assessment of segment performance and resource allocation. This guidance 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.  The Company plans to adopt the ASU in the fourth quarter of fiscal year 2025 and is currently evaluating the impact of the ASU on its disclosure within the consolidated financial statements.In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures”, which enhances the transparency, effectiveness and comparability of income tax disclosures by requiring consistent categories and greater disaggregation of information related to income tax rate reconciliations and the jurisdictions in 

10

ALPHA AND OMEGA SEMICONDUCTOR LIMITEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

which income taxes are paid.  This guidance is effective for annual periods beginning after December 15, 2024 with early adoption permitted.  The Company is currently evaluating the impact of the ASU on its income tax disclosures within the consolidated financial statements.In November 2024, the FASB issued ASU No