Note 17 - Recently Issued Accounting Pronouncements

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Accounting Standards Update and Change in Accounting Principle [Text Block]

17. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

The Company's significant accounting policies are described in Note 1 in Item 8 of the Annual Report. There have been no changes to the Company’s significant accounting policies during the three months ended March 31, 2025. Previous changes to the Company's significant accounting policies are included herein.

In  December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), which requires public entities to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction on an annual basis. ASU 2023-09 is effective for fiscal years beginning after  December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. 

In  November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220), which requires public entities to disclose information about purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion for each income statement line item that contains those expenses. ASU 2024-03 is effective for fiscal years beginning after  December 15, 2026 and interim periods within annual reporting periods beginning after  December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.