Accounting standard newly cited
Filing comparison
Sphere Entertainment Co. cited accounting standard ASU 2025-05 for the first time in this filing series
The Company adopted Accounting Standards Update (“ASU”) 2025-05 during the fourth quarter of 2025 by electing the practical expedient under ASU 2025-05 Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASC 326-20-30-10C through 30-10D), for estimating expected credit losses on current accounts receivable and current contract assets.
Evidence
- Adopted
- 2025-05
- Contexts
- The Company adopted Accounting Standards Update (“ASU”) 2025-05 during the fourth quarter of 2025 by electing the practical expedient under ASU 2025-05 Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASC 326-20-30-10C through 30-10D), for estimating expected credit losses on current accounts receivable and current contract assets.
- New standards
- 2024-03, 2024-04, 2025-05, 2025-06, 2025-11, 2025-12
- Prior filed
- 2024-08-14
- Prior form
- 10-K
- Restates existing policy
- No
- Source
- accounting standards update (ASU) reference comparison
- Why
- An accounting standard (ASU) appears in this filing that did not appear in the previous comparable one, in a sentence describing it as adopted. That is a change in what the company discloses, which is not always a change of policy in the current period: the filing may state an adoption date years earlier.