Summary of Significant Accounting Policies |
9 Months Ended |
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Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no changes to our significant accounting policies described in Note 2 to our Annual Report on Form
10-K for the year ended December 31, 2022 filed with the SEC on March 10, 2023, that have had a material impact on our Condensed Consolidated Financial Statements and related notes. Recent Accounting Pronouncements Changes to accounting principles are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Update (“ASUs”) to the FASB’s Codification. We consider the applicability and impact of all ASUs on our financial position, results of operations, cash flows, or presentation thereof. Described below are ASUs that may be applicable to our financial position, results of operations, cash flows, or presentation thereof. ASUs not listed below were assessed and determined to not be applicable to our financial position, results of operations, cash flows, or presentation thereof. Accounting Standards Adopted in 2023 In September 2022, the FASB issued ASU 2022-04
, Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program ObligationsNo. 2022-04 did not have a material impact on our condensed consolidated financial position, results of operations, cash flows, or presentation thereof. In March 2022, the FASB issued ASU 2022-02,
Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures Financial Instruments – Credit Losses No. 2022-02 did not have a material impact on our condensed consolidated financial position, results of operations, cash flows, or presentation thereof. In October 2021 , - , Business Combinations (Topic 805 ): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 606 No. 2021-08 did not have a material impact on our consolidated financial position, results of operations, cash flows, or presentation thereof. Recent Accounting Standards or Updates Not Yet Effective In March 2023, the FASB issued ASU
2023-01, Leases (Topic 842) – Common Control Arrangements effective for fiscal years beginning after December 15, 2023 (fiscal 2024), including interim periods within those fiscal years. Early adoption is p ermitted in any annual or interim period as of the beginning of the related fiscal year. We are evaluating the effect of adopting this new accounting guidance .
In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820) Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions |