Company: ABM
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000771497-25-000022
Chunk: 15

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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5. This was partially offset by higher net borrowings from our Amended Credit Facility.

Contingencies

For disclosures on contingencies, see Note 10, “ Commitments and Contingencies,” of the Notes to unaudited Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q.

Critical Accounting Policies and Estimates

Our Financial Statements are prepared in accordance with U. S. GAAP, which require us to make certain estimates in the application of our accounting policies based on the best assumptions, judgments, and opinions of our management. There have been no significant changes to our critical accounting policies and estimates. For a description of our critical accounting policies, see Item 7., “ Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Annual Report on Form 10-K for the year ended October 31, 2024.

Recently Issued Accounting Pronouncements

  Accounting Standard Updates      Topic                                                                                                                                                  Summary                                                                                                                                                                                                   Effective Date/                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                    Method of Adoption                                                                                                                                                                   
  2023-07                          Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures                                                                          This ASU, issued in November 2023, improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This standard requires disclos...      This 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.  
  2023-09                          Income Taxes (Topic 740): Improvements to Income Tax Disclosures                                                                                       This ASU, issued in December 2023, is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this ASU address investor requests for enhanced i...      This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted.                                                                             
  2024-03                          Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses      This ASU, issued in November 2024, is intended to improve financial reporting by requiring public entities to disclose additional information about specific expense categories in the notes to t...      This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted.  
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