Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 110

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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 in ASU 2023-07 require disclosures, on an annual and interim basis, of significant
segment expenses that are regularly provided to the CODM, as well as the aggregate amount of other segment items included in the reported
measure of segment profit or loss. ASU 2023-07 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 ASC 280 in interim periods, and entities
with a single reportable segment are required to provide all the disclosures required by the amendments in ASU 2023-07 and existing segment
disclosures in ASC 280. ASU 2023-07 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. We adopted ASU 2023-07 on February 10, 2025 (inception).

In
December 2023, the FASB issued 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 threshold and disaggregation by
nature and jurisdiction. ASU 2023-09 also requires entities to disclose net income taxes paid or received to federal, state and foreign
jurisdictions, as well as by individual jurisdiction, subject to a five percent quantitative threshold. ASU 2023-09 may be adopted on
a prospective or retrospective basis and is effective for fiscal years beginning after December 15, 2024, and for interim periods for
fiscal years beginning after December 15, 2025, with early adoption permitted. We are currently assessing the impact, if any, that ASU
2023-09 would have on our financial position, results of operations or cash flows.

Item 3.
Quantitative and Qualitative Disclosures About Market Risk.

We
are a smaller reporting company as defined by Rule