Company: PAMT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033356
Chunk: 50

Company: PAMT CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 50
---
10-Q to the “Company,” “we,” “our,” or “us” mean PAMT CORP and its consolidated subsidiaries.
    
   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included. The consolidated balance sheet at  December 31, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Operating results for the nine-month period ended  September 30, 2025 are not necessarily indicative of the results that  may be expected for the year ending  December 31, 2025. For further information, refer to the consolidated financial statements and the footnotes thereto included in the Company’s annual report on Form 10-K for the year ended  December 31, 2024.

   NOTE B: RECENT ACCOUNTING PRONOUNCEMENTS
   In  December 2023, the FASB issued 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 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 FASB also issued ASU 2025-01 in  January clarifying that ASU 2024-03 is effective for public business entities for annual reporting periods beginning after  December 15, 2026, and interim reporting periods within annual reporting periods beginning after  December 15, 2027. Early adoption is permitted. The Company has evaluated