Accounting Standards and Policies

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Accounting Standards and Policies

Accounting Standards and Policies

Recent Accounting Developments

In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance in Topic 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. The standard is effective for interim and annual periods beginning after December 15, 2023 for the Company, and is effective for interim and annual periods beginning after December 15, 2024 for the Company’s Affiliates. The Company does not currently expect the adoption to have a material impact on its Consolidated Financial Statements.