# ASC 220-40-65: Income Statement—Reporting Comprehensive Income — Expense Disaggregation Disclosures — 65 Transition and Open Effective Date Information
Source: FASB Accounting Standards Codification, Basic View
[Read online](https://asc.understandingaccounting.org/asc/220/40/#65-transition-and-open-effective-date-information)
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Source downloaded (UTC): 2026-09-09T23:05:10.773Z to 2026-09-09T23:05:10.773Z
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## ASC 220-40-65: 65 Transition and Open Effective Date Information
[Read section](https://asc.understandingaccounting.org/asc/220/40/#65-transition-and-open-effective-date-information)
SEC content: no
#### Transition Related to Accounting Standards Updates No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, and No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date
##### [220-40-65-1](https://asc.understandingaccounting.org/asc/220/40/#220-40-65-1)
Pending content: no
Source downloaded (UTC): 2026-09-09T23:05:10.773Z to 2026-09-09T23:05:10.773Z
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Effective as of: not established by retrieval timestamps.
[Accounting Standards Update 2024-03](https://asc.understandingaccounting.org/updates/asu-2024-03/)
2028-06-13
2026-12-16
2027-12-16
2026-12-16
2027-12-16
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2027-12-16
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2027-12-16
2026-12-16
2027-12-16
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2027-12-16
The following represents the transition and effective date information related to Accounting Standards Updates No. 2024-03, _Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses_, and No. 2025-01, _Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date_:
**Effective date and early adoption**
1. a
The pending content that links to this paragraph shall be effective for [public business entities](https://asc.understandingaccounting.org/glossary/p/#public-business-entity "A public business entity is a business entity meeting any one of the criteria below. Neither a not-for-profit entity nor an employee benefit plan is a business entity. It is required by the U.S. Securities and Exchange Commission (SEC) to file or furnish financial statements, or does file or furnish financial statements (including voluntary filers), with the SEC (including other entities whose financial statements or financial information are required to be or are included in a filing). It is required by the Securities Exchange Act of 1934 (the Act), as amended, or rules or regulations promulgated under the Act, to file or furnish financial statements with a regulatory agency other than the SEC. It is required to file or furnish financial statements with a foreign or domestic regulatory agency in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer. It has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market. It has one or more securities that are not subject to contractual restrictions on transfer, and it is required by law, contract, or regulation to prepare U.S. GAAP financial statements (including notes) and make them publicly available on a periodic basis (for example, interim or annual periods). An entity must meet both of these conditions to meet this criterion. An entity may meet the definition of a public business entity solely because its financial statements or financial information is included in another entity's filing with the SEC. In that case, the entity is only a public business entity for purposes of financial statements that are filed or furnished with the SEC.") for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted.
**Transition method**
1. b
A public business entity shall apply the pending content that links to this paragraph prospectively to financial statements issued for reporting periods beginning after the effective date of the pending content that links to this paragraph. The disclosures required by the pending content that links to this paragraph do not need to be included in financial statements for reporting periods beginning before the effective date that are being presented for comparative purposes with financial statements issued for periods after the effective date.
2. c
A public business entity may elect to apply the pending content that links to this paragraph retrospectively to any or all prior periods presented in the financial statements. If applied to financial statements for periods beginning before the effective date, those disclosures shall be prepared and presented in accordance with this Subtopic.