Quarterly Results of Operations (Unaudited)
|12 Months Ended|
Jan. 31, 2022
|Quarterly Results of Operations (Unaudited)|
|Quarterly Results of Operations (Unaudited)||
(26) Quarterly Results of Operations (unaudited)
On October 28, 2021, the FASB issued ASU 2021 08 – Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021 08”). ASU 2021 08 requires an acquirer in a business combination to recognize and measure deferred revenue from acquired contracts using the revenue recognition guidance in Accounting Standards Codification Topic 606, rather than the prior requirement to record deferred revenue at fair value. ASU 2021 08 allows for immediate adoption on a retrospective basis for all business combinations that have occurred since the beginning of the annual period that includes the interim period of adoption. The Company elected to adopt ASU 2021 08 on a retrospective basis, effective at the beginning of the Successor period on June 11, 2021 which
resulted in changes in the Successor information for the period from June 12, 2021 through July 31, 2021. The revised information for that period is shown below.
The following information has been derived from unaudited consolidated financial statements that, in the opinion of management, includes all normal recurring adjustments necessary for a fair presentation of such information.
The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef