Accounting Standards Update

12 Months Ended

Dec. 31, 2022

Accounting Changes and Error Corrections [Abstract]

Accounting Standards Update

3. Accounting Standards Update

In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update 2021-08, Business Combinations (Topic 805) Accounting for Acquired Contract Assets and Contract Liabilities, which requires an acquirer to recognize and measure contract assets and liabilities in a business combination in accordance with Accounting Standards Codification Topic 606 Revenue from Contracts with Customers, rather than adjust them to fair value at the acquisition date. The Company early adopted this standard during 2022 and it had no impact on the consolidated financial statements.