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FASB proposes improvements to segment disclosures

Defining Issues | October 2022

Proposals would require disclosure of significant segment expenses, and enhance disclosures in annual and interim reporting.

The proposed ASU addresses stakeholder requests for more decision-useful information about reportable segments – expanding the breadth and frequency of segment disclosures.


Proposed ASU

  • Public entities (as defined by ASC 280) and other entities that report segment information under ASC 280

Relevant dates

  • October 6, 2022 – FASB issued proposed ASU
  • December 20, 2022 – Comments due 

Key Impacts:

The proposed amendments would require a public entity to:

  • Disclose significant segment expenses regularly provided to the chief operating decision maker (CODM)
  • Provide, in interim periods, all reportable segments profit or loss and asset disclosures currently required annually by ASC 280, as well as those introduced by the proposed ASU
  • Provide all disclosures required by the proposed ASU and all existing segment disclosures in ASC 280 when the public entity has a single reportable segment
  • Disclose the title and position of the CODM
  • Disclose the amount and composition of other segment items by reportable segment

The proposed amendments would also allow a public entity to disclose more than one measure of segment profit or loss if the CODM regularly reviews multiple measures.

Report contents

  • Fast facts, impacts and actions 
  • Background 
  • Proposed guidance 
  • Effective dates and transition

Download the document:

FASB proposal

Improving segment disclosures

Download PDF

KPMG comment letter

Download PDF

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Valerie Boissou
Partner, Dept. of Professional Practice, KPMG US

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