Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1196

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1196
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 otherwise discussed, we believe that the impact of recently issued guidance,
whether adopted or to be adopted in the future, is not expected to have a material impact on our consolidated financial statements upon
adoption.

Accounting
pronouncements recently adopted

Segment
Reporting: Improvements to Reportable Segment Disclosures - In November 2023, the FASB issued ASU 2023-07, “Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which updates ASC 280 to expand annual and interim
disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. We
adopted ASU 2023-07 for the fiscal year ended December 31, 2024. The adoption of ASU 2023-07 did not have a material impact on the
Company’s consolidated financial statements. See Note 17.

Accounting
pronouncements to be adopted

Income
Taxes: Improvements to Income Tax Disclosures - In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topics
740): Improvements to Income Tax Disclosures,” which updates ASC 740 to expand the disclosure requirements for income taxes,
specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for annual periods beginning after December
15, 2024. Early adoption is permitted. The adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated
financial statements.

Income
Statement—Reporting Comprehensive Income - Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses
- In November 2024, the FASB issued ASU 2024-03 “Income Statement: Reporting Comprehensive Income-Expense Disaggregation Disclosures
(Subtopic 220-40)” which adds ASC 220-40 to expand disclosure requirements related to entity expenses. Upon adoption, entities
will be required to disclose a disaggregation of certain expense categories included within the expense captions on the face of the income
statement within the notes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026,
and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The adoption of ASU 2024-03 is
not expected to have a material impact on the Company’s consolidated financial statements.

Concentrations
of