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Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.  On January 1, 2020, we adopted the new credit losses standard issued by the FASB that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of financial assets measured at amortized cost. The new credit losses standard replaced the “incurred loss” methodology for recognizing credit losses that delayed recognition until it was probable a loss had been incurred. The financial assets we hold that are subject to the new standard are predominately accounts receivable and certain cash equivalents classified as held-to-maturity debt (e.g. commercial paper). Our receivables are generally due within thirty days or less with a significant portion related to billings to our members. See Note F for information regarding our member receivables. Commercial paper issuances we invest in are rated as investment grade and backed by a credit facility. Given our historical experience, the short duration lifetime of these financial assets and the short time horizon over which to consider expectations of future economic conditions, we have assessed that non-collection of the cost basis of these financial assets is remote. The adoption of the new credit losses standard did not materially impact our consolidated financial statements.