Company: MGRE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050206
Chunk: 5

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 December 15, 2024.  The Company currently does not expect the adoption to have a material impact on its Consolidated Financial Statements.In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires improved disclosure of the nature and disaggregation of income statement expenses.  The standard is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027.  The Company is currently evaluating the potential impact that this standard may have on its Consolidated Financial Statements.In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity, which revises guidance on how an entity should identify the accounting acquirer in a business combination in which the legal acquiree is a variable interest entity.  The standard is effective for annual periods beginning after December 15, 2026 and interim periods within those annual reporting periods.  The Company is currently evaluating the potential impact that this standard may have on its Consolidated Financial Statements.In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which introduces a practical expedient for all entities and an accounting policy election for entities other than public business entities related to applying Subtopic 326-20 to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606.  The standard is effective for annual periods beginning after December 15, 2025 and interim periods within those annual reporting periods.  The Company is currently evaluating the potential impact that this standard may have on its Consolidated Financial Statements.