Accounting Pronouncements |
3 Months Ended |
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Mar. 31, 2026 | |
| Accounting Pronouncements | |
| Accounting Pronouncements | 2. Accounting Pronouncements Recently Adopted Accounting Standards Measurement of Credit Losses for Accounts Receivable and Contract Assets In 2025, amended guidance was issued by the Financial Accounting Standards Board (FASB) with the goal of improving efficiencies associated with the measurement of credit losses for accounts receivable and contract assets by allowing entities to elect a practical expedient for measurement. The company has elected to adopt the practical expedient on a prospective basis and does not expect it to have a material impact. New Accounting Guidance and Disclosure Requirements Improvements to Accounting for Internal-Use Software In 2025, new guidance was issued by the FASB with the goal to better align accounting with how internal-use software is developed. The company is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements and expects to adopt the guidance on a prospective basis in 2028. Disaggregation of Income Statement Expenses In 2024, new guidance was issued by the FASB with the goal of providing financial statement users with more expense information of certain categories of expenses that are included in line items on the face of the statements of earnings. The company is assessing the impact that the adoption of this new guidance will have on its consolidated financial statements and expects to meet the disclosure requirements on a prospective basis in its 2027 annual report and interim periods thereafter.
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