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New Accounting Guidance Not Yet Adopted
9 Months Ended
Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Guidance Not Yet Adopted New Accounting Guidance Not Yet Adopted
The following table provides a description of issued accounting guidance applicable to, but not yet adopted by, us:
StandardsDescriptionEffective Date for Public EntityEffect on Financial Statements
ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The guidance will require disclosure of incremental segment information on an annual and interim basis.The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024.
The guidance will result in expanded footnote disclosures beginning in our annual consolidated financial statements for the year ending December 31, 2024.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures
The guidance will require additional income tax disclosures, primarily related to the rate reconciliation and income taxes paid information.The guidance is effective for fiscal years beginning after December 15, 2024.We are in the process of evaluating the impact of this guidance on our footnote disclosures.
ASU 2024-01 Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards
The guidance seeks to reduce ambiguity in the treatment of profits interest awards and provides specific guidance on whether a profits interest award should be accounted for as a share-based payment arrangement, or in a manner similar to a cash bonus or profit-sharing arrangement.The guidance is effective for fiscal years beginning after December 15, 2024, and interim periods within those annual periods.We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements and related disclosures.