Recently Adopted Accounting Pronouncements | | | | | | | | | | | | | | | Standard | | Effective Date | | Adoption | ASU 2021-08, Business Combinations (Topic 805): Accounting for contract assets and contract liabilities from contracts with customers | | December 15, 2022 | | This pronouncement amended Topic 805 to require an acquirer to account for revenue contracts in a business combination in accordance with Topic 606 as if the acquirer had originated the contracts. This did not have a material impact on our consolidated financial statements |
Recently Issued Accounting Pronouncements Not Yet Adopted We are currently evaluating the impact of the following Accounting Standards Update ("ASU") on our Condensed Consolidated Financial Statements or Notes to Condensed Consolidated Financial Statements: | | | | | | | | | | | | | | | | | | | | | Standard | | Description | | Effective Date | | Effect on the financial statements or other significant matters | ASU 2023-01 Leases (Topic 842): Common Control Arrangements | | This pronouncement amends Topic 842 to require all entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. | | Annual periods beginning after December 15, 2023, including interim periods therein. Early adoption is permitted. | | We are currently assessing the impact of adoption on our consolidated financial statements. |
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