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FASB issues ASU requiring new segment disclosures

Defining Issues | December 2023

The ASU enhances current segment disclosures and requires additional disclosures of significant segment expenses.

ASU 2023-07 is in response to stakeholder requests for more decision-useful information about reportable segments.


Relevant dates

  • November 27, 2023 - FASB issues ASU 2023-07
  • ASU 2023-07 is effective for public entities fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted.

Key Impacts:

The amendments in ASU 2023-07 improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments

  • Introduce a new requirement to disclose significant segment expenses regularly provided to the chief operating decision maker (CODM)
  • Extend certain annual disclosures to interim periods
  • Clarify single reportable segment entities must apply ASC 280 in its entirety
  • Permit more than one measure of segment profit or loss to be reported under certain conditions
  • Require disclosure of the title and position of the CODM.

Download the document:

FASB issues ASU - Improvements to reportable segment disclosures

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