Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 68

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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30, 2025

Rights

The Company will account for the Public Rights
and Private Placement Rights to be issued in connection with the Initial Public Offering and the private placement in accordance with
the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and will classify
the rights under equity treatment at their assigned values. There are no Public Rights or Private Placement Rights currently outstanding
as of June 30, 2025.

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, “Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures”
(“ASU 2023-07”). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses
that are regularly provided to the chief operating decision maker (“CODM”), as well as the aggregate amount of other segment
items included in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position
of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance
and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic
280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments
in this ASU and existing segment disclosures in Topic 280. The ASU is effective for fiscal years beginning after December 15, 2023, and
interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07
on February 10, 2025, the date of its incorporation.

In
December 2023, the FASB issued Accounting Standards Update 2023-09, “Improvements to Income Tax Disclosures” (“ASU
2023-09”), which provides for additional disclosures primarily related to the income tax rate reconciliations and income taxes
paid. ASU 2023-09 requires entities to annually disclose the income tax rate reconciliation using both amounts and percentages, considering
several categories of reconciling items, including state and local income taxes, foreign tax effects, tax credits and nontaxable or nondeductible
items, among others. Disclosure of the reconciling items is subject to a quantitative