Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 16

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 other comprehensive
income in the accompanying consolidated statements of changes in stockholders’ equity (deficit). Non-monetary items in the subsidiaries’
functional currency are re-measured into the reporting currency at the historical exchange rate (i.e., the rate of exchange at the date
of the transaction).

Recently
Issued Accounting Standards Not Yet Adopted

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”).
ASU 2023-09 modifies the reporting requirements for income tax disclosures related to effective tax rates and cash income taxes paid.
Pursuant to ASU 2023-09, public business entities are required to disclose certain categories in the income tax rate reconciliation,
as well as additional information for reconciling items that meet a specific quantitative threshold. Additionally, ASU 2023-09 requires
annual disclosures of income taxes paid for all entities, including the amount of income taxes paid, net of refunds received, disaggregated
by federal, state, and foreign jurisdictions.  ASU 2023-09 is effective for the Company in its annual reporting for fiscal
2025 on a prospective basis. Early adoption and retrospective reporting are permitted. The Company does not plan to adopt this standard
early. The Company is currently evaluating the impact of ASU 2023-09 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 is intended to provide more detailed information about specified categories
of expenses (purchases of inventory, employee compensation, depreciation and amortization) included in certain expense captions presented
on the consolidated statements of operations and comprehensive income (loss). The guidance in this ASU 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 amendments may be applied either (1) prospectively to financial statements issued for periods after the effective date of this ASU
or (2) retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the
impact that the adoption of ASU 2024-03 will have on its consolidated financial statements