4 ms·

> If I had to guess, their first quarter in FY2025 will run from Sept 30 through Jan 3 and be 14 weeks. If all years were 365 days, the extra week will come on

> If I had to guess, their first quarter in FY2025 will run from Sept 30 through Jan 3 and be 14 weeks. If all years were 365 days, the extra week will come once every 7 years. But we have leap years, so the extra week comes either after 5 years (which includes 2 leap years) or after 6 years (which includes 1 leap year) ... or something like that, so I guess the first quarter in fiscal 2028-29 will have this feature ... could be 2027 as I do not how to count this too precisely, but definitely not before.

Kon-Peki 3y ago
I’m sure that there is some SEC filing that you can find on Edgar that describes the exact procedure that they’re using. I’m not going to look :) I really don’t think that this has anything to do with leap years or even the normal number of days in the year. It looks like they’ve decided that all of their quarters start on a Sunday and they choose a Sunday that puts the first day of the (quarter) month in that week, unless the first day is after Wednesday (???) in which case they use the next week. It’s odd; I’ve never seen anything like that. But I’m pretty sure that as long as it’s “reasonable” and they are consistent about it, the SEC/IRS doesn’t care. If I were to guess as to why they’d do something like this, it would be that they run weekly financial reports on Sundays so the executives can look at them Monday morning. And their quarterly reports are aggregations of the weekly reports. But who knows!
- jldugger 3y ago
  It's relatively common in the US[1] for to start weeks on Sundays. Much of what you see is probably derived from that. [1]: https://en.wikipedia.org/wiki/Week#/media/File:First_Day_of_Week_World_Map.svg https://en.wikipedia.org/wiki/Week#/media/File:First_Day_of_...
- kshacker 3y ago
  Leap years tell how frequently this change occurs. If all years were 364 days this will never be an issue since there will not be an extra day. When a year is 365 days there is an extra day and the next years calendar starts on a day adjacent to previous year. Note that I am talking about calendar year not fiscal year. So if all years were leap years, calendar would get in balance after 7 years and after adjusting for 1 week in the fiscal year. But not all years are 365 days so sometimes the calendar shifts by 1 day and sometimes by 2 days. So whether the calendar gets into balance varies depending on where the leap year are with respect to when the calendar is adjusted. As my parent comment said, the last adjustment was in 23, it is not easy to say whether the next adjustment will be after 5 years or 6 years without looking at how many days get added year by year. It will definitely not be 7 years. For arguments sake, adjust the fiscal calendar in January 1st. If you did that in 2024, that right there is a leap year, so you gain / lose 2 days, then 1 day each in 25, 26, 27, and then 2 days in 2028. Net 7 days so you adjust calendar in 2029 - 5 years later. But now the calendar has started in 2029, so adjust 1 day in 29, 30, and 31, even 2 days in 32, even 1 each in 33 and 34. So you adjust after 6 years. There are more options too but not worth analyzing each.

Kon-Peki 3y ago

I’m sure that there is some SEC filing that you can find on Edgar that describes the exact procedure that they’re using. I’m not going to look :) I really don’t think that this has anything to do with leap years or even the normal number of days in the year. It looks like they’ve decided that all of their quarters start on a Sunday and they choose a Sunday that puts the first day of the (quarter) month in that week, unless the first day is after Wednesday (???) in which case they use the next week. It’s odd; I’ve never seen anything like that. But I’m pretty sure that as long as it’s “reasonable” and they are consistent about it, the SEC/IRS doesn’t care. If I were to guess as to why they’d do something like this, it would be that they run weekly financial reports on Sundays so the executives can look at them Monday morning. And their quarterly reports are aggregations of the weekly reports. But who knows!

jldugger 3y ago
It's relatively common in the US[1] for to start weeks on Sundays. Much of what you see is probably derived from that. [1]: https://en.wikipedia.org/wiki/Week#/media/File:First_Day_of_Week_World_Map.svg https://en.wikipedia.org/wiki/Week#/media/File:First_Day_of_...
kshacker 3y ago
Leap years tell how frequently this change occurs. If all years were 364 days this will never be an issue since there will not be an extra day. When a year is 365 days there is an extra day and the next years calendar starts on a day adjacent to previous year. Note that I am talking about calendar year not fiscal year. So if all years were leap years, calendar would get in balance after 7 years and after adjusting for 1 week in the fiscal year. But not all years are 365 days so sometimes the calendar shifts by 1 day and sometimes by 2 days. So whether the calendar gets into balance varies depending on where the leap year are with respect to when the calendar is adjusted. As my parent comment said, the last adjustment was in 23, it is not easy to say whether the next adjustment will be after 5 years or 6 years without looking at how many days get added year by year. It will definitely not be 7 years. For arguments sake, adjust the fiscal calendar in January 1st. If you did that in 2024, that right there is a leap year, so you gain / lose 2 days, then 1 day each in 25, 26, 27, and then 2 days in 2028. Net 7 days so you adjust calendar in 2029 - 5 years later. But now the calendar has started in 2029, so adjust 1 day in 29, 30, and 31, even 2 days in 32, even 1 each in 33 and 34. So you adjust after 6 years. There are more options too but not worth analyzing each.