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New Accounting Standards (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]  
Schedule Of New Accounting Standards on Previously Reported Results
Accounting Pronouncements Adopted in the Current Year
StandardDescriptionEffective DateEffect on the Condensed Consolidated Financial Statements
ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
ASU 2022-03 adds disclosure requirements specific to equity securities subject to contractual sale restrictions. The disclosures clarify the nature of the contractual sale as well as the duration of the restriction and the circumstances that could cause a lapse in the restriction.This standard is effective for the Company for fiscal years beginning on January 1, 2024 and interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Condensed Consolidated Financial Statements.
Accounting Pronouncements Yet to be Adopted
StandardDescriptionEffective DateEffect on the Condensed Consolidated Financial Statements
ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
ASU 2023-07 adds disclosure requirements to segment expenses, improving the financial reporting of the entity’s overall performance and assessment of future cash flows. The disclosures will require more detailed information related to the entity’s reportable segments.
This standard is effective for the Company for annual periods beginning on January 1, 2024 and for interim periods beginning on January 1, 2025, and will be implemented on a retrospective basis.
The Company is evaluating the standard, but does not expect the standard will have a material impact on the Condensed Consolidated Financial Statements.
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
ASU 2023-09 adds disclosure requirements to disaggregated information related to the effective tax rate reconciliation and information on income taxes paid. The disclosures will enhance the assessment of the entity’s operations and related tax risks.
This standard is effective for the Company for annual periods beginning on January 1, 2025, and will be implemented on a prospective basis.The Company does not expect the standard will have a material impact on the Condensed Consolidated Financial Statements.