New Accounting Pronouncements

12 Months Ended

Dec. 31, 2021

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

The Company adopted the following Accounting Standards Updates (“ASU”) in 2021, which did not have a material impact on its consolidated financial statements:

Standard	Description	Effective Date
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	Modifies ASC Topic 740 by removing certain exceptions and amending existing guidance in order to simplify the accounting for income taxes.	January 1, 2021
ASU 2021-01, Reference Rate Reform (Topic 848): Scope	Clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition and tailors the existing guidance to derivative instruments affected by the discounting transition.	January 1, 2021

Recently Issued Accounting Pronouncements

The Company considered the recently issued accounting pronouncement summarized as follows, which is not expected to have a material impact on its consolidated finance statements or disclosures:

Standard	Description	Effective Date
ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance	Requires new annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model.	January 1, 2022