Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 191

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 191
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 of adoption. The amendments in ASU 2023 -07are required to be adopted for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements. Recently issued accounting pronouncements issued but not yet adopted In December 2023, the FASB issued ASU 2023 -09, Improvement to Income Tax Disclosure. This standard requires more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This standard also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023 -09is effective for public business entities, for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. The Group is in the process of evaluation the impact of adopting this new guidance on its consolidated financial statement. In November 2024, the FASB issued Accounting Standards Update No. 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Disaggregation of Income Statement Expenses (“ASU 2024 -03”), and in January 2025, the FASB issued Accounting Standards Update No. 2025 -01, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Clarifying the Effective Date (“ASU 2025 -01”). ASU 2024 -03requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024 -03, as clarified by ASU 2025 -01, is effective for us for our annual reporting for fiscal 2028 and for interim period reporting beginning in fiscal 2029 on a prospective basis. Both early adoption and retrospective application are permitted. The Group is currently evaluating the impact that the adoption of these standards will have on its consolidated financial statements and disclosures. In March 2025, the FASB issued ASU 2025 -02 — Liabilities (405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122.The amendments in this Update are effective immediately and on a fully retrospective