Recent Accounting Pronouncements |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2025 | |||
| Accounting Changes and Error Corrections [Abstract] | |||
| Recent Accounting Pronouncements |
Accounting Pronouncements Issued Not Yet Adopted
In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). This guidance requires the disaggregation of certain expense captions into specified categories in disclosures within the notes of the financial statements to provide enhanced transparency into the expense captions presented on the statement of earnings. It is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. Adoption may be applied either prospectively to financial statements issued for reporting periods after the effective date of ASU 2024-03 or retrospectively to any or all prior periods presented in financial statements.
The Company is evaluating the impact of this guidance on the Company’s related disclosures. |