Accounting Standards and Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Accounting Standards and Policies

Accounting Standards and Policies

Recently Adopted Accounting Standards

Effective January 1, 2024, the Company adopted Accounting Standard Update (“ASU”) 2022-03, Fair Value Measurement

(Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.  The adoption of this

standard did not have a material impact on the Company’s Consolidated Financial Statements.

Recent Accounting Developments

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic

280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an

annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses.  The

standard is effective for annual periods beginning after December 15, 2023 and for interim periods beginning after December

15, 2024.  The Company currently does not expect the adoption to have a material impact on its Consolidated Financial

Statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures,

which requires greater disaggregation of income tax disclosures related to the income tax rate reconciliation and income taxes

paid.  The standard is effective for annual periods beginning after December 15, 2024.  The Company currently does not expect

the adoption to have a material impact on its Consolidated Financial Statements.

In March 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of

Profits Interest and Similar Awards, which clarifies how an entity should apply the scope guidance to determine whether profits

interest and similar awards should be accounted for in accordance with Topic 718.  The standard is effective for interim and

annual periods beginning after December 15, 2024 for the Company, and is effective for interim and annual periods beginning

after December 15, 2025 for the Company’s Affiliates.  The Company currently does not expect the adoption to have a material

impact on its Consolidated Financial Statements.