New Accounting Pronouncements |
3 Months Ended |
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Mar. 31, 2025 | |
| New Accounting Pronouncements [Abstract] | |
| New Accounting Pronouncements |
(11) New Accounting Pronouncements
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is focused on additional
income tax disclosures and requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the
effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 is effective for the Company for fiscal years, and interim
periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted. The Company has evaluated the impact applying this standard will have on its income tax disclosures, and the adoption of ASU 2023-09 does not
have a material impact on the Company’s consolidated financial statements.
In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of
Income Statement Expenses” (ASU 2024-03). ASU 2024-03 requires additional interim and annual disclosures that further disaggregate certain expense captions into specified categories in a separate note to the financial statements, as well as
certain qualitative information describing amounts not separately disaggregated. ASU 2024-03 is effective for the Company in the annual period beginning on January 1, 2027 and interim periods beginning on January 1, 2028 and can be applied on
either a prospective or retrospective basis, with early adoption permitted. The Company is evaluating the impact of ASU 2024-03 to its disclosures.
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