Recently Adopted Accounting Pronouncements | | | | | | | | | | | | | Date Issued and Topic | Date Adopted and Method | Description | Impact | July 2025
Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets | Adopted effective January 1, 2026
Prospective basis | The standard is intended to simplify the measurement of credit losses for accounts receivable and contract assets by providing a practical expedient that allows an entity to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. | Adoption did not have a significant impact on our consolidated financial statements. | September 2025
Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software | Early adopted effective January 1, 2026
Prospective basis
| The standard is intended to modernize the internal-use software guidance, making it easier to apply to various software development methods. | Adoption did not have a significant impact on our consolidated financial statements. | December 2025
Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities | Early adopted effective January 1, 2026
Prospective basis
| The standard provides authoritative guidance for business entities receiving government grants, establishing rules for their recognition, measurement, presentation, and disclosure. | Adoption did not have a significant impact on our consolidated financial statements. |
New Accounting Pronouncements | | | | | | | | | | | | | Date Issued and Topic | Effective Date | Description | Impact | November 2024
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) | Annual period starting in 2027 and interim periods starting in 2028
Prospective basis | The standard is intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. | We are currently evaluating the impact on our disclosures. | December 2025
Interim Reporting (Topic 270): Narrow-Scope Improvements
| Interim reporting periods within annual reporting periods starting in 2028
Prospective basis
| The standard clarifies the applicability of Topic 270, provides a comprehensive list of interim disclosures, and includes a disclosure principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. | We are currently evaluating the impact on our interim disclosures. |
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