New Accounting Pronouncements

6 Months Ended

Jun. 30, 2021

Prospective Adoption Of New Accounting Pronouncements [Abstract]

New Accounting Pronouncements

NOTE 2 – New Accounting Pronouncements

Recently Adopted Accounting Guidance

Income Taxes

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which is intended to simplify various aspects related to accounting for income taxes. This accounting update removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We prospectively adopted the accounting update on January 1, 2021. The adoption did not have a material impact on our consolidated financial statements.