Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 489

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 489
---
– In  November 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). ASU 2023-07 expands disclosures related to a public entity's reportable segment and requires more enhanced information about significant segment expenses, including in interim periods. This ASU is effective for fiscal years beginning after  December 15, 2023 and interim periods within fiscal years beginning after  December 15, 2024, using a retrospective approach. The company has considered the applicability of ASU 2023-07 and has adopted all applicable disclosures within this report to be in compliance with the ASU. The Company will adopt all applicable disclosures for future interim and annual reports. ASU 2023-07 had no material impact on the Company’s financial condition, results of operations, or cash flows.
    
   In  December 2023, the FASB issued Accounting Standards Update, (“ASU”) No. 2023-09, (“ASU 2023-09”), Improvements to Income Tax Disclosures. ASU 2023-09 was issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The guidance is effective for annual reporting periods beginning after  December 15, 2024, with early adoption permitted. The Company has evaluated the new guidance and does not expect it to have a material impact on its financial condition, results of operations, or cash flows.
    
   In  November 2024, the FASB issued Accounting Standards Update, (“ASU”) No. 2024-03, (“ASU 2024-03”), Disaggregation of Income Statement Expenses. ASU 2024-03 was issued to enhance the transparency of financial reporting by requiring public business entities to provide more detailed disclosures about certain operating expenses. The guidance is effective for annual reporting periods beginning after  December 15, 2026, and interim periods within fiscal years beginning after  December 15, 2027. Early adoption is permitted. The Company has evaluated the new guidance and does not expect it to have a material impact on its financial condition, results of operations, or cash flows.
    
   The Company considered the applicability and impact of the above-referenced ASU’s and all other accounting standard updates issued by the Financial Accounting Standards Board to the