Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 183

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 183
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07 are also required for public entities with a single reportable
segment. ASU 2023-07 will be effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning
after December 15, 2024. ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. The
Company adopted this update for the annual period ended December 31, 2024 and the amendments have been applied retrospectively to all
prior periods presented in the consolidated financial statements by expanding certain disclosures, including the disclosure of significant
expenses included in our segment measure of profitability.

In December 2023, the FASB issued ASU
No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires companies to disclose, on an
annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that
meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid.
ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 and will be applied on a prospective basis with the
option to apply the standard retrospectively. The Company is evaluating the disclosure impact of ASU 2023-09; however, the standard will
not have an impact on the Company’s consolidated financial position, results of operations and/or cash flows.

In November 2024, the FASB issued ASU
2024-03, Income Statement - Reporting Comprehensive Income - Expenses Disaggregation Disclosure (Subtopic 220-40), which requires
disaggregated disclosure of income statement expenses for public business entities. The amendments in this update do not change the expense
captions an entity presents on the face of the income statement; rather, they require disaggregation of certain expense captions into
specified categories, including but not limited to purchases of inventory, employee compensation, depreciation, amortization, and selling
expenses. This update is effective for annual reporting periods beginning after December 15, 2025, and for interim periods within fiscal
years beginning after December 15, 2027. This update will result in the required additional disclosures being included in our consolidated
financial statements, once adopted.

  Fair Value  
 ──────────────

The Company’s financial assets
and liabilities that are measured at fair value on