14.8 Statement of Cash Flows
Under ASC 230-10-50-2, the supplemental cash flow information for income
taxes paid is required when an indirect method is used. Such disclosure can be included
in the company’s statement of cash flows or in a footnote. See Section D.8.2.1 for a sample of this required
disclosure.
Changing Lanes
ASU 2023-09 adds to U.S. GAAP ASC 740-10-50-22 and 50-23, which
require entities to disclose income taxes paid disaggregated by foreign,
domestic, and state taxes, with further disaggregation by jurisdiction on the
basis of a quantitative threshold of “5 percent of total income taxes paid (net
of refunds received).” See Appendix B for additional discussion of this requirement, and
see Section D.8.2.2 for a sample
disclosure.