Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 73

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 73
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 subsequent interim periods. The adoption of this standard did not impact the Company’s results of operations or financial position. See Note 13 Segments of Business for the new disclosures required by the standard.In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses: Measurement of Credit Losses forAccounts Receivable and Contract Assets (Topic 326). The update permits entities to elect a practical expedient for estimatingexpected credit losses on current trade receivables and current contract assets by assuming that conditions existing at thebalance sheet date will remain unchanged over the life of those assets. The updated standard is effective for fiscal yearsbeginning after December 15, 2025, including interim periods within those fiscal years, with early adoption permitted. TheCompany is currently assessing the impact of the amendment to this standard on its consolidated financial statements.In November 2024, the FASB, issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures.  ASU 2024-03 is intended to improve disclosures about a public business entity's expenses and provide more detailed information to investors about the types of expenses in commonly presented expense captions.  In January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) Clarifying the Effective Date, which is intended to clarify the effective date of ASU No. 2024-03. As clarified in ASU 2025-01, the new guidance is effective for annual reporting periods beginning after December 15, 2026 with early adoption permitted.  While we anticipate that the adoption of this standard will require additional disclosures, the Company is currently assessing the impact of the amendment to this standard on its consolidated financial statements.  In December 2023, the FASB, issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures.  ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures.  The amendments in this ASU are effective for the Company in fiscal 2026 on a prospective basis, with early adoption permitted.  The Company is currently evaluating the potential impact of this guidance on its disclosures, but this standard update will not have an impact on the Company's results of operations or financial position. 

In October 2023,